News relating to the Bermuda and international insurance and reinsurance industry.
Markel Corporation has appointed Jed Rhoads and Andrew Barnard to take over management and oversight of Markel CatCo, as CEO Anthony Belisle and Bermuda CEO Alissa Fredricks have left the company.
Re/insurer Chubb, which retains substantial operations on Bermuda, has estimated that catastrophe losses will cost the company $585 million pre-tax in the fourth quarter of 2018.
Bermuda Monetary Authority (BMA) chairman Gerald Simons has now retired following nine years on the board, including six as chair.
Bermuda-based specialty re/insurer Argo Group has made a preliminary pre-tax catastrophe loss estimate for the three-month period ended December 31, 2018 of $32 million, primarily relating to Hurricane Michael and the California wildfires.
AlphaCat Managers, the insurance-linked securities (ILS) fund manager subsidiary of AIG, has completed an ILS transaction with Ledger Capital Markets, the MGA entity of insurtech and ILS startup Ledger Investing.
Bermuda-based Maiden Holdings sold its European automotive group to Allianz Partners, as part of its strategic review announced in 2018.
Blue Capital Reinsurance Holdings, a Bermuda-based collateralised reinsurance provider and subsidiary of Sompo International, has updated its fourth quarter catastrophe loss impact to $30 million, net of reinsurance and reinstatement premiums.
AXIS Capital Holdings has appointed Keith Schlosser as chief information officer (CIO).
New York-based mutual fund firm Rational Funds aims to bring the benefits of insurance-linked securities (ILS) to the mutual fund market with the launch of Context Insurance Linked Income Fund (ILSIX).
Hiscox Re, along with Japanese re/insurance group MS&AD, have invested in AkinovA, an electronic marketplace for the transfer and trading of re/insurance risk.