News relating to the Bermuda and international insurance and reinsurance industry.
Andrew Umphress has been named as vice president for terrorism at Brit Global Specialty USA (BGSU).
The 2020 Bermuda Captive Conference will be held virtually for the first time this year, amid continued uncertainty about when COVID-19 social distancing measures will be eased.
Liberty Mutual Re (LM Re) has appointed Sara Steiner as vice president and director of assumed reinsurance.
Golden Tree Reinsurance has been awarded a financial strength rating of B+ with a stable outlook by AM Best.
The financial guaranty business drove an increased year on year loss for American Overseas Group (AOG) in 2019, despite a healthy increase in property and casualty premiums.
Global Indemnity will redomesticate its business to the US from its current bases in the Cayman Islands and Bermuda.
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has paid $203,136 to the Government of Belize on its excess rainfall parametric insurance policy, following three days of heavy rains during Tropical Storms Amanda and Cristobal.
Bermuda will end its state of emergency on June 30 as it reopens its economy.
UK-based flood forecasting insurtech Previsico has appointed Matthew Grant, formerly of RMS, as a board advisor.
A secondary market for ILS can only emerge once the broader market fully embraces electronic platforms, according to Brad Adderley, a partner at Appleby in Bermuda.