News relating to the Bermuda and international insurance and reinsurance industry.
EIOPA has highlighted the importance of cooperation between national supervisory authorities in response to the sustained low interest rate environment threatening the re/insurance industry.
A new industry group, ILS Bermuda, aims to draw together leading Bermuda participants in alternative space in order to engage with the global capital markets, promote job creation and lead economic growth.
AM Best has affirmed the financial strength rating of Bermuda-domiciled, Arden Re and the issuer credit rating of its parent company, Arden Holdings.
Susan Patschak, CEO of Canopius Bermuda, will be stepping down from her position at the end of May.
Conning warns that the ILS and reinsurance markets may face a clash of cultures as the two converge, while the ongoing success of ILS could yet serve to dent pricing in the space.
Alice Young, a partner at international law firm, Kaye Scholer and chairperson of the firm’s Asia Pacific practice, has joined the AXIS Capital board of directors.
Rating agency, Fitch upgraded Validus Re’s insurer financial strength rating from “A-” to “A”. Validus Holdings also received an upgrade from “BBB” to “BBB+” for their senior unsecured debt rating.
Q-Re, a wholly-owned subsidiary of Qatar Insurance Company, has announced that it is awaiting regulatory approval to expand into Bermuda.
Shareholders of Alterra Capital Holdings and Markel Corporation have overwhelmingly approved Markel’s move to acquire the Bermuda-based re/insurer.
Don Kramer’s Bermuda investment management company, ILS Capital Management has announced senior personnel changes as it develops its presence in an increasingly buoyant Bermuda ILS sector.