News relating to the Bermuda and international insurance and reinsurance industry.
Ahead of Argo's annual meeting on May 24 where shareholders will vote on the Bermuda re/insurer's board directors, 5.6 percent shareholder Voce Capital Management has now withdrawn its director nominees.
Ariel Re, a re/insurance underwriting business and member of the Argo Group, has appointed Stephen O’Flynn as head of professional lines and casualty treaty underwriting - Bermuda.
Bermuda run-off specialist Armour Group has appointed John Parry, the former chief financial officer (CFO) of Lloyd's of London as group CFO, effective June 2019.
Re/insurer MS Amlin, which has a presence on Bermuda, has purchased a strategic stake in Envelop Risk, a global specialist reinsurance MGA that combines insurance expertise with artificial intelligence-driven cyber risk modelling.
Sompo International Holdings has appointed Udo Pützer as head of financial lines insurance in Germany.
Specialist reinsurance broker Capsicum Re has appointed Tom Mills to its Bermudian operation.
While Bermuda was removed from the European Union’s so-called “blacklist”, it has now been placed on Annex II of the EU list of non-cooperative tax jurisdictions, also known as the “grey list”, reflecting commitments it must make with regard to economic substance.
Victor Insurance Holdings, a managing general underwriter (MGU) in North America, Bermuda and Europe formerly known as The Schinnerer Group, has appointed Anthony Stevens as president of Victor International.
Ratings agency AM Best has revised the outlook to negative from stable of Bermuda-based Third Point Re (TPRE) and its subsidiaries.
The European Union has removed Bermuda from its list of non-cooperative jurisdictions in tax matters, also known as the tax haven blacklist.