News relating to the Bermuda and international insurance and reinsurance industry.
There has been a marked increase in insurers tempted to buy “opportunistic” multi-year coverage in recent months, as they have sought to lock-in pricing during the current soft cycle.
Ironshore Canada has appointed Andrew Stewart as senior associate within its M&A insurance division, while David Tran has been promoted to vice president within IronPro’s Canadian division.
Endurance Insurance has appointed Joe Spallone as its commercial management liability senior vice president with responsibility for the firm’s western region in the US.
Blue Capital’s Global Reinsurance Fund’s third share placement has been delayed. The firm did not specify the reason behind the postponement.
FERMA has asked the EU not to intervene in the regulation of national insurance contracts, arguing that such an approach will jeopardise the market’s ability to write large cross-border risks.
An interactive data tool from Swiss Re’s sigma team casts light on the need to continue to drive insurance penetration globally.
The Lloyd’s market achieved its best year since 2009, announcing a profit of £3.2 billion in 2013, despite poor investment returns and pressure on pricing.
Swiss Re’s latest sigma report into global catastrophe losses has found that climate change will lead to changes in the frequency, intensity and duration of extreme weather events.
Bermuda run-off acquirers, Catalina are buying SPARTA Insurance and intend to enter part of its business into run-off and to sell its alternative market business to Arch Insurance.
Bermuda-based Hamilton Re has promoted Peter Skerlj to chief risk officer as the company continues to build an impressive team.