News relating to the Bermuda and international insurance and reinsurance industry.
As part of the Bermuda Monetary Authority’s (BMA) 2014 business plan the Authority will participate in the full National Association of Insurance Commissioners (NAIC) qualified jurisdiction assessment.
The Northridge earthquake of 1994 served to prove the value of the Bermuda market at a time when it was facing negative attitudes from the Lloyd’s market.
The cat bond, which provides Achmea Reinsurance Company with EUR40 million of collateralized protection, is the first to provide Europe windstorm indemnity for a European insurance sponsor.
Kinesis Re has underwritten its first tranche of multi-class reinsurance agreements from January 1, extending collateralised combined aggregate limits in excess of $250 million to market.
Rebecca Dupré has 25 years of excess casualty experience.
He will be responsible for overseeing the Group’s investment and asset management.
While reinsurers faced what can only be described as a tough renewals, insurers experienced one characterised by increased competition and capacity, but which nevertheless remained responsible.
Allied World appoints Lou Iglesias as president of Allied World North America, with a responsibility for property and casualty and professional lines.
Amlin receives approval to open an office in Hamburg, Germany, with the new office due to be led by managing director, Martin Bircks.
XL appoints Christian Daniele as senior property facultative underwriter for its reinsurance division. Daniele will be based in Zurich.