News relating to the Bermuda and international insurance and reinsurance industry.
Nassau Life Insurance Company (NLI) will acquire Foresters Financial Holding Company and its subsidiary Foresters Life Insurance and Annuity Company (FLIAC) from Foresters Financial.
An earthquake of the magnitude of the Loma Prieta quake, which struck on October 17, 1989, would cost: $38 billion in economic losses, and $4 billion in insured losses, if it struck in the same place, according to RMS.
The reinsurance market is not yet providing a “suitable, sustainable, and scalable response to meet the challenge of a cyber catastrophe,” according to Devin Page, head of specialty reinsurance at Hiscox Re.
Bermuda will begin accepting 1:1 US dollar-backed digital currencies for the payment of government taxes, fees and services, according to Premier David Burt.
Davies has launched a new compliance and regulatory consulting business in Bermuda. Davies Consulting (Bermuda) specialises in providing insurance operations and consultancy solutions for insurance intermediaries and re/insurers with operations globally, and especially in Bermuda and the UK.
Maiden Reinsurance will re-domesticate from Bermuda to the State of Vermont in the US.
ArgoGlobal, the Lloyd’s insurer and member of the Bermuda-based Argo Group, has named Noel Praveen as senior underwriter for casualty and professional lines in Dubai.
AXIS Capital Holdings has launched a new policy aimed at reducing and ultimately cutting its business ties with companies involved in high carbon emitting businesses.
Peta White has been appointed chair of the board of Women in Reinsurance (WiRe), the organisation for professional women employed in the Bermuda reinsurance sector.
Everest Re Group has estimated its preliminary pre-tax catastrophe loss for Q3 2019 to be $280 million.