News relating to the Bermuda and international insurance and reinsurance industry.
Blue Capital Reinsurance Holdings will cease active operations and pursue an orderly run-off of its liabilities and in-force portfolio, returning capital to shareholders, the company has said.
Markel Corporation is building a new retrocessional insurance linked securities (ILS) fund platform in Bermuda.
AXA XL has teamed up with Vindati, an insuretech managing general underwriter (MGU), to offer ocean cargo insurance for small and middle-sized businesses.
Kroll Bond Rating Agency (KBRA) believes the insurers it rates are appropriately reinsured for the remainder of the 2019 Atlantic hurricane season and California wildfires.
Lancashire Holdings saw its gross written premiums increase in the first half of 2019 compared with the same period last year, while profit slumped.
Natural disasters caused global economic losses worth $73 billion in the first six months of 2019, according to an Aon catastrophe report, titled Global Catastrophe Recap: First Half of 2019.
Chubb has reported steady Q2 results, with net income almost flat on the same period in 2018, and gross written premiums seeing modest rises.
RenaissanceRe Holdings has delivered strong results in the second quarter of 2019, with premiums and net income markedly higher than in the same period last year.
Specialist global insurer Hiscox has promoted Andrew Hughes to the role of managing principal of Hiscox ILS.
Twelve Capital has raised nearly $400 million in 18 months for its latest UCITS cat bond offering, the company has said.