News relating to the Bermuda and international insurance and reinsurance industry.
High levels of claims from two years of California wildfires contributed to a challenging 2018 for Bermuda reinsurer RenaissanceRe, although CEO Kevin O’Donnell remains positive for a successful 2019.
The parent company of Bermuda-based specialty re/insurer Watford Re has publicly filed for an initial public offering (IPO) on the NASDAQ Global Market.
Treefrog Consulting, a Bermuda-based re/insurance and ILS technology firm, has created an underwriting, pricing and portfolio management web application to help reinsurance and ILS businesses speed up pricing.
The Bermuda Monetary Authority (BMA) registered 75 re/insurance companies in 2018, up from 58 in 2017, a 29.3 percent increase year-on-year.
The global non-life insurance-linked securities (ILS) market grew to $93 billion at the end of 2018, up from $88 billion year-on-year, despite a substantial slowdown in the fourth quarter.
Allied World Assurance Company Holdings has made a series of leadership appointments for its Bermuda operations.
Aetna, a provider of healthcare insurance and subsidiary of CVS Health, has entered into a four-year reinsurance deal with a newly formed Cayman Islands special purpose insurance vehicle, Vitality Re X.
AlphaCat Managers, the insurance-linked securities (ILS) fund manager subsidiary of AIG, has completed a $5 million private catastrophe bond transactions with Brazilian reinsurer Terra Brasis Re.
Langhorne Re, a reinsurer targeting large life and annuity blocks, has appointed Marvin Pestcoe as executive chair and CEO of Langhorne Re Bermuda.
Specialty re/insurer Argo Group has established a graduate training programme in Bermuda for those looking to gain experience and exposure to the re/insurance industry.