News relating to the Bermuda and international insurance and reinsurance industry.
The lack of investment returns being achieved by traditional reinsurers combined with the growing demands of regulatory capital are helping drive the rise of alternative capital in the industry.
Bermuda’s decision to adopt Solvency II equivalence has proved the right one for the island, even as the Bermuda Monetary Authority (BMA) slows the pace of implementation.
XL and SCOR have agreed to back a new Lloyd’s syndicate formed by Randall & Quilter Investment Holdings. Syndicate 1991 was launched in August and will begin underwriting in the New Year.
Bermuda-based reinsurance-linked investment manager CATCo Re has established a retrocessional reinsurance loss reserve for losses related to Sandy.
Pillar Capital Management, a Bermuda-based insurance asset manager focused on collateralised reinsurance and catastrophe-linked securities, has formed a strategic partnership with Transatlantic Re.
At a phone conference hosted by the Reinsurance Association of America (RAA) on Monday, Brad Kading of the Association for Bermuda Insurers and Reinsurers made a strong case for the re/insurance sector.
White Mountains Solutions Holding Company, a wholly-owned subsidiary of Bermuda-domiciled White Mountains Insurance Group, has entered into a definitive acquisition agreement with a small runoff subsidiary of AIG.
ACE Bermuda has established ACE Select, a paid internship program geared towards Bermudian college students who aspire to entering the insurance industry.
A recent report by AM Best that states that despite ‘tepid’ industry returns the rating agency has faith in Bermuda are indicative of the strength and reputation of the Island’s re/insurance sector.
Bermuda property cat specialist, Montpelier Re has launched a London-based asset management platform offering “innovative catastrophe reinsurance-linked investment products” to investors.