News relating to the Bermuda and international insurance and reinsurance industry.
Savage Q4 leads to full year losses for Argo
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.”
Armstrong World Industries transfers $1bn in pension obligations to Athene
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 to acquire major stake in Coface
Arch Capital Group is acquiring a 29.5 percent stake in Coface, a France-based leader in the global trade credit insurance market.
TigerRisk strengthens Bermuda reinsurance and retro teams
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.
Credit Suisse Life ordered to release documents related to $1bn fraud
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 nominates two for election to its board
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 profits down for 2019 but up in Q4
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 to pay quarterly dividend in April
AXIS Capital Holdings will pay a quarterly dividend of $0.41 per common share.
Global reinsurer capital up despite falls in alternative capital: KBRA
Global reinsurer capital was up 7 percent to $625 billion in the first nine months of 2019, according to Kroll Bond Rating Agency (KBRA).
BSX names new council chairman
Thomas Gallagher has been elected chairman of the council of the Bermuda Stock Exchange (BSX).
