News relating to the Bermuda and international insurance and reinsurance industry.
BTG Pactual and Global Atlantic have announced the signing of an agreement whereby BTG Pactual will acquire Ariel Re, Global Atlantic’s Bermuda-based property and casualty reinsurance company.
Endurance Specialty has announced it will draft in a team of executives from other companies to build a global agriculture reinsurance unit.
The ILS market saw previous records smashed as cedants secured $4.5 billion of catastrophe bond coverage in the second quarter of 2014.
Eight first time sponsors entered the cat bond market this year, as the sector posted a first half year record for issuance, topping $5.7 billion in total capital.
Aon Benfield has announced the appointment of Nick Ambriano as head of its US casualty facultative team.
A survey conducted by business and financial adviser Grant Thornton UK LLP has found that only 6 percent of respondents believe the costs of Solvency II are 'reasonable'.
Qatar Re has announced the appointment of Stephan Rappaz, formerly of New Re, as global head of liability, effective December 1st, 2014.
Endurance has announced that Mark Maritzen has joined the company as executive vice president and to head up the new commercial property unit within its US insurance operation.
Stefan Kräuchi has been promoted within investment fund, HSZ Group, to CEO, partner and shareholder.
Market pressures at the July 1st renewals continued to drive price decreases across virtually all geographies and lines of business, many in the double digit range.