News relating to the Bermuda and international insurance and reinsurance industry.
A report by Willis Re has found that $35 billion of additional capital is currently flowing into the reinsurance space, with the trend set to accelerate.
Re/insurance disputes are increasingly being settled through arbitration, but the costs associated with such an approach are not necessarily any less significant than litigation for the companies involved.
Robert Hiscox was awarded the Gold Medal for Services to Lloyd’s at a ceremony in London this week. Hiscox is only the 17th person to receive the honour since its inception in 1919.
Statistics from the Bermuda Monetary Authority reveal that alternative reinsurance formations account for half of all formations since the start of 2013.
PartnerRe announced the formation of Lorenz Re, a Bermuda-domiciled “companion facility” special purpose insurer to provide additional capacity on a diversified portfolio of catastrophe reinsurance treaties over a multi-year period.
Endurance announced Steven Dresner will assume the newly-created role of executive vice president of the company’s global insurance division.
Citizens has reduced potential emergency assessments for Floridians by more than $3 billion— or 42 percent— from the 2012 hurricane season, through depopulation and risk transfer agreements.
The share value of a host of Bermuda re/insurers hit a year-long high this month as favourable year-end results, improving margins and a bullish stock market helped to buoy valuations.
Aon Risk Solutions’ recent seminar on international growth found that by 2025 50 percent of the global economy will be in emerging markets and 8 out of 10 global megacities.
Aon Risk Solution's political risk map, created in partnership with Roubini Global Economics, indicated some decrease in global political risk and featured only 12 downgrades in stability rankings—almost half the number of the 21 assigned last year.