News relating to the Bermuda and international insurance and reinsurance industry.
Risk modeller, AIR Worldwide released a report this week, aptly entitled Taking a Comprehensive View of Catastrophe Risk Worldwide, which seeks to answer key questions associated with 2011.
Blue Capital Global Reinsurance Fund, backed by Bermuda-based, Montpelier Re and listed on the London and Bermuda stock exchanges, announced this week that it has deployed 58 percent of its fund capacity.
Under-fire insurer, AIG has entered into a $400 million collateralised peak zone reinsurance contract with Bermuda incorporated, Compass Re.
Allied World Bermuda launched Constellation this week, a suite of five excess casualty coverage enhancements combined into one package.
Now entering its eighth year, the Bermuda U40s tour is an industry event that enables up-and-coming Bermudians to experience other global re/insurance markets first-hand.
It seems that sidecars are back in vogue in the Bermuda market, with Alterra, Argo, Lancashire, RenaissanceRe and Validus all launching or ramping up sidecars in recent weeks.
Argo is the latest re/insurer to enter the sidecar space, announcing on Monday the establishment of the group’s first sidecar, Harambee Re 2013-1.
Validus is the latest Bermuda player to announce that it is increasing its ILS and collateralised capacity.
Speaking at the World Economic Forum, John Drzik, CEO of the Oliver Wyman Group, argued growing debt levels resulting from the financial crisis, are weakening the ability of governments to respond to catastrophic events.
In its annual renewals review—this year entitled The route of profitable growth—Guy Carpenter highlighted capital management as one of the key means to drive growth in the re/insurance market.