Aspen Re has raised $85 million of new capital to renew its Bermuda-domiciled sidecar, which will be used to write a quota share of Aspen Bermuda’s property-catastrophe portfolio. 22 December 2014
The Bermuda Monetary Authority (BMA) has welcomed the news that Bermuda’s quest for equivalence with Europe’s Solvency II Directive has moved closer to fruition with the European Insurance and Occupational Pensions Authority (EIOPA) endorsing key aspects of Bermuda’s commercial re/insurance regulatory regime. 22 December 2014
ACE has completed a $365 million deal that will see it acquire the renewal rights to a unit owned by Fireman’s Fund Insurance Company, part of Allianz Group, which is focused on high net worth customers. 19 December 2014
Bermuda-based Third Point Re is moving away from offering its own insurance-linked securities (ILS) offering, in what is a notable and significant strategic move for the company that will allow it to focus on its core reinsurance operations. 19 December 2014
Bermuda is well placed to tackle the challenges of new risks and alternative capital in 2015, Kathleen Reardon, the chief executive of Hamilton Re, speaking at a luncheon for members of the Bermuda Insurance Institute (BII). 18 December 2014
Bermuda-based Argus Group Holdings has substantially increased its earnings, achieving a net profit of $10.6 million for the six months ended September 30, 2014, compared with $1.6 million for the same period last year. 17 December 2014
The US subsidiary of Bermuda re/insurance group Argo Group, has acquired the renewal rights to a professional liability book of business in the US. 17 December 2014
Bermuda-based Sequant Re Holdings has completed its financing to launch Sequant Reinsurance Company (Sequant Re), a newly formed global reinsurer, and made several key hires in relation to the venture. 16 December 2014
Bermuda-based specialist insurance-linked securities manager CatCo Investment Management has seen its chief financial officer (CFO) step down. 16 December 2014
