News relating to the Bermuda and international insurance and reinsurance industry.
A recent report by Guy Carpenter has found that while the global re/insurance industry is strengthening its disclosure of ERM practice and methodology, Bermuda continues to lag behind Europe in terms of transparency.
Hong Kong’s Legislative Council has passed an Inland Revenue Amendment that will provide a 50 percent tax concession on the profits of captive insurers.
Bermuda-based Endurance has launched a new data breach product, Breach Assist, which will provide insureds with coverage for legal costs, forensic analysis and customer interaction following a data breach.
Despite indications that TRIPRA will be renewed, a recent report by S&P has raised suggestions that it may yet expire and that US insurers should at the very least expect it to change form at the next renewal.
JLT Towers Re, which was formed following JLT Re’s acquisition of Towers Watson Re’s global operations, has launched an expanded Bermuda platform as it looks to develop deeper ties with Bermuda carriers.
Beta-seeking fixed income managers and mutual funds are driving pricing dynamics at the margins within the cat bond market, despite the deepening role of pension funds within the ILS space.
Tokio Marine and Nichido Fire Insurance, the property and casualty subsidiary of Tokio Marine, has issued a $245 million Bermuda-based bond for Japanese earthquake risk.
Insurance investment manager, CATCo has launched Aquilo, a fund that will be the firm’s first pursuing a traditional reinsurance investment strategy.
Speaking on US cable television station CNBC, Warren Buffett, chairman and CEO of Berkshire Hathaway has said that the company has “almost eliminated” its US catastrophe insurance business.
Kalista Global is set to launch a cyber terrorism pricing product that will help the industry move away from an “esoteric” view of risk and towards an accurate and informed view of cyber exposure.