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Rating agency AM Best has placed under review with developing implications the financial strength rating (FSR) of A (Excellent) and the long-term issuer credit ratings (long-term ICR) of “a+” of the property/casualty subsidiaries of XL Group. 7 March 2018
News
Canopius, which has a major presence on Bermuda, has appointed Mike Duffy to the position of chief executive of Canopius Managing Agents, effective immediately. He retains his existing role as group chief underwriting officer. 7 March 2018
News
Bermuda-based Sompo International is to create a new European specialty insurance underwriting operation, which will initially be focused on management liability, professional indemnity and financial institutions lines of business. 6 March 2018
ILS
Validus Holdings subsidiary AlphaCat Managers and Brazilian based reinsurer Terra Brasis Resseguros have completed a $5 million private catastrophe bond transaction. 6 March 2018
News
XL Group has been bought by French insurer AXA in a $15.3 billion deal. 5 March 2018
News
Argo Group subsidiary ArgoGlobal has appointed Veronica Grigg as senior executive officer for ArgoGlobal Asia. 5 March 2018
News
AM Best has revised the outlooks to stable from negative and affirmed the financial strength rating (FSR) of A+ (Superior) of Renaissance Reinsurance (RenaissanceRe) and Renaissance Reinsurance of Europe Unlimited Company (Dublin, Ireland). 2 March 2018
ILS
Hiscox’s insurance linked securities (ILS) asset management arm Hiscox Re Insurance Linked Strategies has appointed Dr Ben Fox to its Bermuda-based ILS investment team as portfolio manager. 2 March 2018
News
The Bermuda Business Development Agency (BDA) has announced that Brian Duperreault, AIG’s chief executive officer, will be the keynote speaker at a multi-industry event in New York. 2 March 2018
News
Bermuda’s insurance industry saw a year-on-year increase in company registrations across multiple sectors according to the Bermuda Business Development Agency (BDA). 1 March 2018
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