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Allied World Assurance Company (Allied World), which has offices in Bermuda, encountered a jump in its net income in the second quarter of 2016, despite the decrease in business in several areas, mainly reinsurance, due to a drop in its property portfolio. 21 July 2016
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AM Best, a ratings agency, has affirmed the financial strength rating of A- (Excellent) of Fidelis Insurance Bermuda (Fidelis) and the UK-based Fidelis Underwriting (Fidelis UK), both subsidiaries of Fidelis Insurance Holdings. The outlook for each rating is stable. 21 July 2016
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Ever since Bermuda gained Solvency II-equivalence, commercial re/insurers and insurance groups have not been deprived when competing for and underwriting business in Europe, according to a report by Timetric. 20 July 2016
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In a decision that will be of interest to hedge-fund backed reinsurers, significant developments have been made in Bermuda’s candidacy for a European passport to facilitate business for Bermuda-based fund managers. 20 July 2016
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PwC Bermuda will be hosting its annual HeadStart Student Networking reception on July 26 at the Royal Bermuda Yacht Club, giving students an opportunity to connect with PwC associates and partners and learn about the accounting and actuarial opportunities available at PwC. 19 July 2016
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AXIS Capital has reported its preliminary estimate of second quarter 2016 catastrophe and weather-related pre-tax losses of $104 million. 19 July 2016
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Randall & Quilter Investment Holdings, a UK based investor in non-life legacy business, has acquired a Bermuda captive in run-off. The captive previously reinsured a number of well-known players including Arch Insurance. 18 July 2016
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Bermuda-based Blue Capital Reinsurance Holdings has estimated its second quarter losses from a number of events including the Fort McMurray wildfires in Canada. 18 July 2016
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Another Bermuda-based re/insurer has estimated the extent of its losses stemming from a busy period of catastrophe losses in the last quarter including the Canadian wildfires and weather-related events in the US. 18 July 2016
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Endurance Specialty Holdings has presented a rough estimate of $55.5 million net negative financial impact to the company in the second quarter of 2016 from the collective natural disasters which resulted in approximately $10 billion industry losses. 15 July 2016
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