News relating to the Bermuda and international insurance and reinsurance industry.
RenaissanceRe profits dip from cat claims although growth is strong
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.
Hedge-fund backed Watford Re parent files for IPO on NASDAQ
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.
Bermuda firms Treefrog and Foundation form cloud-based underwriting platform
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.
Bermuda re/insurance registrations up 29% in 2018, ILS on the rise
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.
$93bn ILS market grew 5.6% in 2018 despite Q4 slowdown
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 shuffles senior leadership in Bermuda
Allied World Assurance Company Holdings has made a series of leadership appointments for its Bermuda operations.
Aetna enters $200m ILS deal with recently formed Cayman vehicle Vitality Re X
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.
AIG's AlphaCat completes $5m cat bond deal with Terra Brasis Re
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.
PartnerRe's Pestcoe joins Langhorne Re Bermuda as CEO
Langhorne Re, a reinsurer targeting large life and annuity blocks, has appointed Marvin Pestcoe as executive chair and CEO of Langhorne Re Bermuda.
Argo introduces re/insurance graduate training programme in 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.
