News relating to the Bermuda and international insurance and reinsurance industry.
Everest Re has posted a solid set of results for 2014, as its special purpose reinsurer, Mt. Logan Re, helps drive growth at the Bermuda-based company.
Bermuda-based Endurance Specialty has appointed Michael Fokken to the newly created role of head of international professional liability reinsurance.
Bermuda-based Axis Capital, the company which recently unveiled an $11 billion merger with PartnerRe, has posted a solid set of results for 2014.
Bermuda-based RenaissanceRe posted a drop in profits for 2014, largely due to the reinsurer writing a lower volume of catastrophe business.
XL, the re/insurer formerly headquartered on Bermuda, posted a strong set of results for 2014, as it enjoyed solid growth, particularly in the fourth quarter, and benefitted from low cat losses.
Bermuda’s financial regulator, the Bermuda Monetary Authority (BMA), registered 89 new insurance entities in 2014.
Bermuda-based Axis Capital and PartnerRe will need to pay a termination fee of $250 million if the $11 billion merger agreement falls through.
Despite the wave of consolidation in the reinsurance industry at the moment, particularly affecting Bermuda players, the vast majority of market participants still believe that smaller, niche, players have a role to play, a survey has revealed.
Bermuda-based Validus Holdings posted a fall in profits for 2014, as losses in the third quarter took their toll.
Bermuda-based Mt. Logan Re, Everest Re’s special purpose reinsurer, has strengthened its board of directors.