News relating to the Bermuda and international insurance and reinsurance industry.
Lloyd’s chairman highlights Bermuda partnership
The Bermuda insurance market and Lloyd’s of London have many common interests and should focus more on growing the size of the insurance market for mutual benefit than on competing against each other, according Bruce Carnegie-Brown, the chairman of Lloyd’s.
AXA starts new blockchain scheme in Sweden
AXA Partners, which is a part of the same group as AXA XL, has started a blockchain payment protection experiment to support people who are involuntary unemployed in Sweden.
Markel optimistic about ILS despite challenges
Markel has revealed that its ILS operations had grown “dramatically” from nothing to $92 million in 2018, in just five years and that it is “incredibly optimistic” about the future of its insurance linked securities (ILS) business despite ongoing investigations into recorded loss reserves at CATCo and its subsidiaries.
Speakers announced for BDA New York event
A wide range of guests will join former New York mayor and philanthropist Michael Bloomberg and American International Group President and CEO Brian Duperreault as special guests participating in the March 21 Bermuda Executive Forum New York.
Palomar files for IPO on the Nasdaq
US specialty insurer Palomar Holdings has filed for an initial public offering (IPO) on the Nasdaq stock exchange and is looking to raise $50 million from the deal.
AXIS Holdings ratings affirmed by AM Best
AM Best has affirmed the financial strength rating of A+ (Superior) and the long-term issuer credit ratings (Long-Term ICR) of “aa-” of the operating subsidiaries of AXIS Capital Holdings.
Maiden remains in the red after 2018 net loss
Maiden Holdings has reported a fourth quarter 2018 net loss of $269.2 million, down again on the net loss of $133.6 million it made in the same quarter of 2017.
AM Best leaves Hamilton ratings unchanged after Pembroke purchase
AM Best has announced that the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” Hamilton Re remain unchanged following Hamilton Insurance Group’s announcement that it has signed a definitive agreement with Liberty Mutual Group to acquire Pembroke Managing Agency.
Sompo International widens US policy range
Sompo International has announced that the company’s US platform has introduced a Management Assurance Policy (MAP), which expanded its primary professional lines insurance offering for private companies
Burt: editing error prompted blacklist
Premier David Burt has said that what appears to have been a case of human error when draft regulations were being edited resulted in the country being blacklisted by the European Union this week.
