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Bermuda insurer Argus Group suffered a loss in the six months ending September 30, 2017, but the firm has secured an upgrade to its financial strength rating by AM Best. 15 December 2017
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Lumen Re, a specialist Bermuda-based collateralised reinsurer formerly known as Collateralised Re, has secured a financial strength rating of A (Excellent) from AM Best. The outlook on the rating is stable. 15 December 2017
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The Lloyd’s operation of Bermuda-based Hamilton Insurance Group has hired a new head of casualty from Novae Insurance. 15 December 2017
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The Bermuda Business Development Agency (BDA) has made a number of changes to its board including the appointment of a new chair and vice chair while a former director of licensing and authorisations at the Bermuda Monetary Authority (BMA) has joined as a director. 14 December 2017
ILS
Reinsurance January rate increase expectations are slowly deflating in a late renewal season, analysts from Keefe, Bruyette & Woods (KBW) suggested following investor meetings with key Bermudian re/insurers. 14 December 2017
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The major overhaul of insurance accounting that will be triggered by IFRS 17 could influence insurers' business models, which may in turn affect their credit profiles, according to Fitch Ratings. 14 December 2017
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Third Point Reinsurance has made a change to its broad of directors. The managing director of its founding private equity investor has stepped down and been replaced by the founder of Fidelis Insurance. 13 December 2017
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Speciality re/insurer Brit has selected Bermuda as the domicile for a newly formed collateralised reinsurance platform it builds out its “strategy to build long term relationships with the capital markets.” 13 December 2017
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The results of some Bermuda reinsurers have been particularly hard hit by the hurricane activity in the US and the Caribbean. One of the few reinsurers to post a combined ratio under 100 percent in the first nine months was PartnerRe. 12 December 2017
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The parent of Bermuda reinsurer Endurance has said it wants to become a top 10 global insurance group in terms of earnings and return on equity (ROE) after 2020. 12 December 2017
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