News relating to the Bermuda and international insurance and reinsurance industry.
RenaissanceRe (RenRe) Holdings has said that it made a profit of $36.7 million in the third quarter of 2019, a rise on the $32.7 million it announced for the third quarter of 2018.
Ascot has appointed Patrick Kenahan as head of excess casualty in Bermuda. In addition Jason Pugi, Kimberley Pursell and Michael Watkins have been appointed senior vice presidents.
Reinsurers are likely to see further erosion in 2019, following another year of major catastrophe losses, according to AM Best.
Everest Re Group has announced that third quarter 2019 net income totalled $104.4 million, a severe fall on the $198.4 million in net income it reported for the third quarter of 2018.
AXA XL has launched a podcast series created to raise the level of awareness about emerging and evolving risks within the North America healthcare industry.
Specialist insurer Markel, which has a major presence on Bermuda, has announced the streamlining of the leadership of its wholesale operation by appointing James Hastings as managing director of wholesale.
Verisk, which has a major presence on Bermuda, is developing its new life insurance solutions in collaboration with PartnerRe.
Sompo International is expanding its capabilities in Mexico with the addition of a new Sompo International global risk solutions (GRS) team that will focus on serving clients in select industry verticals.
Hiscox has developed a new app called FloodPlus AR that uses augmented reality to illustrate the growing flood threat to coastal towns and cities from rising sea levels.
Caisse de dépôt et placement du Québec (CDPQ) and Ontario Teachers’ Pension Plan have become founding investors in Constellation Insurance with an initial capital investment of $500 million.