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Bermuda’s Minister of National Security Wayne Caines has praised Bermuda’s participation in the fifteenth Montgomery Summit in California, a leading innovation conference which attracts a community of investors, executives and entrepreneurs from across the US and the world. 19 March 2018
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Marc Grandisson, president and chief operating officer (COO) of Arch Capital Group (ACGL), has been promoted to the additional position of chief executive officer, replacing Constantine Iordanou. 19 March 2018
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Global insurer Hiscox has continued its focus on cyber with the launch of a new cyber industry loss warranty (ILW). 16 March 2018
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Markel International has said that it will cease to write London open market property business with immediate effect. 16 March 2018
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Everest Re Group has unveiled its elevation investment management insurance policy (Elevation IMI), which provides management and professional liability coverage to investment advisers, mutual funds and hedge funds. 15 March 2018
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AM Best has said that the financial strength rating (FSR) of A (Excellent) and the long-term issuer credit rating (Long-Term ICR) of “a” of Canopius Reinsurance, as well as the FSR of A- (Excellent) and the Long-Term ICR of “a-” of Canopius US Insurance remain under review with negative implications following completion of their parent company’s acquisition by a private equity consortium led by Centerbridge Partners. 15 March 2018
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Argo Group International Holdings has acquired Italian specialty insurer Ariscom for an undisclosed amount. 14 March 2018
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Arch Capital Group has teamed up with Freddie Mac to pilot a new mortgage credit risk transfer program, deemed “IMAGIN” (Integrated Mortgage Insurance), to attract a diversified and robust capital base to the US housing market, in a highly efficient structure, that will support market stability through economic cycles. 14 March 2018
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BICO Risk Management has sold a controlling interest in its legal expense insurance business to a consortium led by an affiliate of Trebuchet Group Holdings, which is owned by the founders and principals of Bermuda-based Armour Group. 13 March 2018
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Paul Bailie has been appointed to the position of head of Willis Towers Watson’s Bermuda Captive practice. 13 March 2018
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