News relating to the Bermuda and international insurance and reinsurance industry.
In his new role Keith Moore, who has been with Aon since 1992, will lead all business development operations in the US.
The latest figures from ILS Advisers and Eurekahedge show a slowing in the strong rally achieved in the cat bond market since June this year, with the market up 0.17 percent in October.
Jason Keen will be responsible for the growth and performance of ACE's property insurance portfolios in the region, with immediate effect.
Hardy Underwriting has announced that it has ceased underwriting business from Bermuda following a “strategic business review”. Hardy will remain domiciled on the Island.
AXIS has received formal approval for the launch its own Lloyd’s syndicate in 2014, AXIS Syndicate 1686, which will deliver £119 million to the Lloyd’s market.
The restructuring is part of an overarching Group strategy for delivering service excellence, according to Michael East.
A new Bermuda class is likely to comprise life reinsurers and/or hedge-fund backed reinsurers, looking to take advantage of the Island’s beneficial regulatory and tax regime.
Attracting jobs to the Island will be a key metric of the success of the newly-formed Bermuda BDA, but a “lead indicator” will be its ability to access and influence key decision-makers in re/insurance, funds and asset management.
Cedants are increasingly retaining and bundling their risks, requiring reinsurers to change their approach to underwriting.
The BMA welcomed a further three special purpose insurers (SPIs) in October, bringing the total number of SPIs formed this year to 32.