News relating to the Bermuda and international insurance and reinsurance industry.
Hannover Re has transferred storm risk for the Texas Windstorm Insurance Association into the capital markets in its latest ILS transaction.
Marsh has announced the launch of a new global placement organisation and the appointment of Dean Klisura as head of the operation.
ACE has announced it will appoint Paul Wilderspin, formerly of Marsh, as client relationship manager for the UK and Ireland.
European economies faced $3 billion of economic losses following severe thunderstorms in June, according to Impact Forecasting.
More insurance companies with a physical presence and long-term plans to grow are forming in Bermuda, creating new jobs and opportunities for the industry, according to one of the island’s leading law firms.
Fitch has upgraded the insurer financial strength (IFS) ratings of Wilton Re and all its various units to A+ from A.
Endurance has attacked Aspen’s defence against its increasingly hostile overtures, accusing Aspen of using governance and compensation questions to distract shareholders from the value inherent in the transaction.
The reinsurance sector saw significant rate reductions at the mid-year renewals as excess capital continues to chase muted demand.
XL Group has pledged its support for specialist Shariah compliant managing general agency, Cobalt Underwriting, with cover for financial lines products spanning financial institutions, professional indemnity and management liability.
Hamilton Re has announced that Richard Sammons will join the company in the position of senior vice president, specialty.