News relating to the Bermuda and international insurance and reinsurance industry.
Quarterly results from the Reinsurance Association of America (RAA) revealed a significant spike in premiums written, thanks largely to a sharp rise in underwriting volume at National Indemnity.
For re/insurers grappling for levers for a potential turn in the market, the US National Oceanic and Atmospheric Administration has issued further cause for gloom, predicting a below average Atlantic hurricane season.
Willis Group has announced that it will acquire a controlling stake of approximately 75 percent in Max Matthiessen, a leading employee benefits adviser in Sweden, for $205 million.
The US government is edging towards a public-private understanding over the provision of mortgage insurance that will see more private participation, but not as much as the commercial sector might want.
ABIR president Brad Kading has called for insurance risk to be moved from non-essential government insurance programs to the private sector, noting this was in the long term best interest of taxpayers and consumers.
ACE Group has enhanced its ACE Worldview portal to provide its multinational clients and brokers with online access to detailed loss and claims information for all multinational lines of business.
Willis Group has appointed Rafal Walkiewicz as managing director of its insurance investment banking division, Willis Capital Markets & Advisory (WCMA).
Amlin benefited from solid growth in the first quarter of 2014 despite reducing rates on most lines of business, particularly property-catastrophe lines.
Appleby has acted as Bermuda counsel to African Risk Capacity (ARC), on establishing a specialist hybrid mutual insurance company to help AU member states become more resilient to extreme weather events.
Catlin Group has added cat modelling firm AIR's next-generation catastrophe risk management platform, Touchstone(R), to its suite of licensed products.