News relating to the Bermuda and international insurance and reinsurance industry.
Endurance and Tokio Millenium Re (TMR) have both made significant contributions to programmes benefiting children in Bermuda.
Validus sources have indicated that the company intends to purchase all issued and outstanding shares from Flagstone Re, with Flagstone shareholders receiving 0.1935 of voting common shares and $2 in cash for each Flagstone share.
Montpelier Re announced on August 19 that it has acquired the renewal rights of Torus’s property cat reinsurance business, with Torus continuing its involvement in the business through a sidecar arrangement.
Three reinsurers—Berkshire Hathaway following in the earlier footsteps of Allied World and Validus— pursue a deal with New York-based Transatlantic Re in what has become an increasingly acrimonious affair.
Aspen Insurance Holdings announced that co-founder Julian Cusack will be stepping down from his position as chief risk officer, effective immediately.
Bermuda formations slowed somewhat in July to eight new registrations, according to statistics from the Bermuda Monetary Authority.
A former Guy Carpenter executive has joined Bermuda based Hamilton Insurance to help the company break into the US market.
Markel has agreed to acquire VSC Fire and Security, a provider of comprehensive fire protection, life safety, and low voltage solutions to retailers, commercial campuses, healthcare facilities, and government properties.