News relating to the Bermuda and international insurance and reinsurance industry.
ACE has completed a $365 million deal that will see it acquire the renewal rights to a unit owned by Fireman’s Fund Insurance Company, part of Allianz Group, which is focused on high net worth customers.
Bermuda-based Third Point Re is moving away from offering its own insurance-linked securities (ILS) offering, in what is a notable and significant strategic move for the company that will allow it to focus on its core reinsurance operations.
Bermuda is well placed to tackle the challenges of new risks and alternative capital in 2015, Kathleen Reardon, the chief executive of Hamilton Re, speaking at a luncheon for members of the Bermuda Insurance Institute (BII).
The US subsidiary of Bermuda re/insurance group Argo Group, has acquired the renewal rights to a professional liability book of business in the US.
Bermuda-based Argus Group Holdings has substantially increased its earnings, achieving a net profit of $10.6 million for the six months ended September 30, 2014, compared with $1.6 million for the same period last year.
Bermuda-based Till Capital has acquired a larger stake in encore Energy through its reinsurance subsidiary Resource Re.
Bermuda-based specialist insurance-linked securities manager CatCo Investment Management has seen its chief financial officer (CFO) step down.
Bermuda-based Sequant Re Holdings has completed its financing to launch Sequant Reinsurance Company (Sequant Re), a newly formed global reinsurer, and made several key hires in relation to the venture.
Armour Group, the Bermuda-based group of re/insurance, investment and service companies, has acquired two Mexican insurers.