News relating to the Bermuda and international insurance and reinsurance industry.
The BMA welcomed a further three special purpose insurers (SPIs) in October, bringing the total number of SPIs formed this year to 32.
The quality of underwriting talent is set to become increasingly important in the face of rising levels of convergence capital, as teams are deployed across traditional and alternative reinsurance structures.
Bermuda has outpaced Cayman in the ILS space for the first time in 2013, by both the value of ILS issuance and the number of bonds issued, according to a new report released by the BMA.
Re/insurance software specialists Sequel’s new insurance aggregation software, Sequel Impact promises to bring aggregation monitoring and analysis into the front office.
Scott Hurlburt worked previously as vice president, specialty lines at Partner Re.
Dominic Christian, CEO of Aon UK and executive chairman of International at Aon Benfield, will begin his three-year term on February 1, 2014.
In his new role Andrew Wilkin will oversee the company's property catastrophe reinsurance operations based in Bermuda.
AIR Worldwide and Willis Re's matching estimates for typhoon that ripped through the Philippines in early November are a fraction of the $6 to $14 billion in damage due to low insurance penetration.
McKeown, who has held senior executive positions with Guy Carpenter and ACE Tempest Reinsurance Company, has been appointed CEO of the investment management company recently formed by XL Group and fund managed by Stone Point Capital.
The industry will need to pay attention to price discipline in response to the influx of new convergence capital, and as it struggles with troubled investment returns.