News relating to the Bermuda and international insurance and reinsurance industry.
Markel CATCo CEOs dropped, search begins for replacement
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.
Chubb expects $585m impact from cat losses in Q4
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.
BMA chairman to step down; successor revealed
Bermuda Monetary Authority (BMA) chairman Gerald Simons has now retired following nine years on the board, including six as chair.
Argo estimates $44m loss impact in Q4
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.
AIG's AlphaCat strikes ILS deal with insurtech startup
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.
Maiden sells European auto subsidiary to Allianz
Bermuda-based Maiden Holdings sold its European automotive group to Allianz Partners, as part of its strategic review announced in 2018.
Blue Capital revises Q4 cat loss estimates to $30m
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.
Chubb exec joins AXIS Capital as chief information officer
AXIS Capital Holdings has appointed Keith Schlosser as chief information officer (CIO).
Rational Funds launches ILS fund with mutual focus
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 and MS&AD invest in re/insurance trading insurtech
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.
