News relating to the Bermuda and international insurance and reinsurance industry.
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.
Bermuda-based insurer James River has raised $231 million, below the range it had provided previously in its initial public offering.
Richard Chattock, the chief executive officer of Bermuda-based Montpelier Re, sold 15,000 shares on December 8.
Three of the industry’s most respected leaders have voiced concerns over the potential of so-called alternative capital to damage the industry’s reputation due to instability caused by a delinking occurring between the risk and the source of the capital.
The deputy governor of the Bank of England and CEO, the Prudential Regulation Authority, has stressed that while the regulatory body remains concerned about the robustness of the management of risk it is also not the regulator’s role to prevent entry into an industry.
John Berger, the chief executive of Third Point Reinsurance, has turned to two former colleagues as he has revealed plans to target growth in the US.
Bermuda has been selected to host ALARYS 2016, a biennial conference for risk managers from countries throughout Latin America.
Bermuda insurance company BF&M has already paid out more than $10 million in claims stemming from hurricanes Fay and Gonzalo, the company said in its third quarter results release. But it added that its reinsurance programme has limited losses and the overall effect on its earnings.
Bermuda-based Axis Capital has increased its common dividend for the eleventh consecutive year.