News relating to the Bermuda and international insurance and reinsurance industry.
Ironshore brings international liability solution to market
Ironshore’s US specialty casualty unit has launched an excess casualty solution for US companies with international operational risk exposure.
AM Best withdraws Arden Re ratings
Arden Re, whose insurance and reinsurance segments were sold to Goldman Sachs, had financial strength and issuer credit ratings of “A-“ and “a-“ respectively.
Everest Re’s Special Purpose Reinsurer reaches $370 of capacity
Special purpose reinsurer Mt. Logan Re, formed last year by Everest Re to provide collateralised capacity to the property catastrophe reinsurance market, has secured additional funding.
Aon Benfield appoints Chicago business leader
Stephen Hofmann will be responsible for driving business growth, managing client teams, and creating and maintaining a business environment that is supportive to optimising client results.
Two-thirds of ILS investors in for the long-haul
Roughly two-thirds of ILS investors are believed to be making long-term strategic allocations to the sector, recognising the diversifying and uncorrelated nature of the asset class.
ACP Re under negative review following Tower move
AM Best has placed ACP Re’s A- (Excellent) rating under review with negative implications following its decision to acquire troubled Bermuda-based insurer, Tower Group.
US natural disaster losses down 78 percent in 2013
In a reversal from 2012, just 16 percent of all economic losses occurred in the US last year according to Impact Forecasting’s Annual Global Climate and Catastrophe Report.
ACE acquires majority stake in Thai insurer
ACE has acquired a 60.9 percent stake in Thai insurer Siam Commercial Samaggi Insurance, which writes $138 million of auto, small commercial and personal accident insurance in Thailand.
PCS remains focused on its core offering
Despite the recent headlines relating to its involvement in ILS, Property Claim Services remains committed to its core value of providing catastrophe loss data to the traditional market.
Hamilton Insurance names Weill as chairman
Hamilton Insurance named Sandy Weill as its new chairman as the company takes a new heading under the leadership of insurance heavyweight Brian Duperreault.
