News relating to the Bermuda and international insurance and reinsurance industry.
Fitch assigns rating to QBE Blue Ocean Re
Fitch Ratings has assigned Bermuda-based QBE Blue Ocean Re an Insurer Financial Strength (IFS) Rating of 'A+' (Strong). The outlook is stable.
Enstar announces Q3 2018 loss
Enstar made a net loss of $16 million in the third quarter of 2018, down from the net profit of $39 million it reported for the same period of 2017.
AXIS Capital issues Michael loss estimate
AXIS Capital Holdings has announced a preliminary pre-tax loss estimate for Hurricane Michael in the range of $100 million to $120 million.
Aon: Hurricane Michael insured losses could hit $8bn
Aon’s Impact Forecasting team has launched the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of Hurricane Michael and other natural disaster events that occurred worldwide during October 2018.
JLT shareholders approve MMC acquisition offer
Marsh & McLennan Companies (MMC) has announced that the shareholders of Jardine Lloyd Thompson Group (JLT) have overwhelmingly approved Marsh & McLennan’s agreement to acquire JLT. Of those shares voted, 99.9 percent voted in favour of the transaction.
James River Group adds to board
James River Group Holdings has announced the appointment of Christopher Harris and Sundar Srinivasan to its board of directors, and to its audit and investment committee, respectively.
Third Point Re reports fall in Q3 2018 GWP
Third Point Re has been hit by a fall of 82.8 percent in its gross written premium (GWP) in the third quarter of 2018, because of unsatisfactory underlying pricing, terms and conditions.
Argo Group reports Q3 2018 profit
Argo Group International Holdings has reported net income of $40.6 million in the third quarter of 2018, a return to profit after the loss of $61.3 million that it made in the same quarter of 2017.
Sirius completes IPO
Sirius International Insurance Group has announced that it has completed its merger with Easterly Acquisition Corp and has become a publicly listed company, trading on the Nasdaq.
AM Best puts RenaissanceRe ratings under review after TMR announcement
AM Best has placed under review with developing implications the financial strength rating (FSR) of A+ (Superior) and the long term issuer credit ratings of “aa-” of Renaissance Reinsurance, Renaissance Reinsurance US, RenaissanceRe Specialty US, and Renaissance Reinsurance of Europe.
