News relating to the Bermuda and international insurance and reinsurance industry.
Mergers and acquisitions (M&A) in the Bermuda insurance sector is expected to slow down in 2019 following several years of significant deal activity - particularly in 2018 - and a pool that is getting smaller and smaller, according to report from law firm Clyde & Co.
Arch Capital Group has made series of strategic leadership changes to its mortgage insurance business, and named recent Global Mortgage Group CEO Andrew Rippert as chief innovation and strategic investment officer.
Assured Guaranty has announced that it made a profit of $88 million in the fourth quarter of 2018, an increase on the $52 million it made in the same quarter of 2017.
The board of Markel CatCo has announced that it has “recommend an orderly run-off” of the firm's portfolios, a move that raises a question mark over the future of the company.
With Insurance Australia Group (IAG) issuing the first catastrophe bond to be domiciled in Singapore under its new insurance-linked securities (ILS) regime, and Hong Kong working towards creating an ILS market, insurance-focused law firm Clyde & Co expects alternative capital to be a significant growth area across Asia.
Against backdrop of poor investment performance and substantial catastrophe losses, the fourth quarter of 2018 proved challenging for Bermuda reinsurer Third Point Re, which posted a net loss for both the period and the full year.
In a significant step for expansion of insurance-linked securities (ILS) in Asia-Pacific, the first ever catastrophe bond in Singapore has been issued, Orchard ILS Pte.
CATCo Reinsurance Opportunities Fund non-executive director Alastair Barbour will retire from the board towards the end of 2019.
Bermuda-based AXIS Capital has appointed Lizabeth Zlatkus to its board of directors, effective March 15.
Voce Capital Management, an Argo Group shareholder with a 5.8 percent stake in the company, has heavily criticised the specialty re/insurer’s corporate expenses, taking aim at CEO Mark Watson III, in a letter to other stockholders made public on Monday February 25.