News relating to the Bermuda and international insurance and reinsurance industry.
Argo Group International Holdings reported significant losses for the full year and Q4 2019, with its new chief executive, Kevin Rehnberg, vowing to turn things around and build on “a strong foundation of specialty insurance and reinsurance.”
Athene Annuity and Life Company (AAIA) and Athene Annuity and Life Assurance Company of New York (AANY) will provide annuity benefits for approximately 10,000 retirees receiving benefits from Armstrong World Industries’ (AWI) pension plan.
Arch Capital Group is acquiring a 29.5 percent stake in Coface, a France-based leader in the global trade credit insurance market.
Christopher Conway has joined TigerRisk Partners, a risk, capital and strategic advisor to the re/insurance industries, to work on its Bermuda reinsurance and retro teams.
The Supreme Court of Bermuda has ordered Credit Suisse Life (CSL), the Bermuda insurance division of Credit Suisse, to turn over documents to victims of an estimated $1 billion fraud carried out by CSL personnel over seven years.
Argo Group International Holdings has nominated Bernard Bailey and Fred Donner to stand for election to its board of directors at the annual shareholder meeting on April 16, 2020.
James River Group Holdings saw net profits sink in 2019, but the year ended strongly, with Q4 profits up. Meanwhile, its Q4 combined ratio was at its healthiest level for three years.
AXIS Capital Holdings will pay a quarterly dividend of $0.41 per common share.
Global reinsurer capital was up 7 percent to $625 billion in the first nine months of 2019, according to Kroll Bond Rating Agency (KBRA).
Thomas Gallagher has been elected chairman of the council of the Bermuda Stock Exchange (BSX).