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The Bermuda Monetary Authority (BMA) and The European Insurance and Occupational Pensions Authority (EIOPA) have signed a memorandum of understanding (MoU). 18 January 2017
News
Despite fears that artificial intelligence (AI) may result in job losses because of automation, an overwhelming majority of re/insurance executives see AI as an opportunity, according to an online survey of readers of Bermuda: Re+ILS’s sister publication Intelligent Insurer. 18 January 2017
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Bermuda-based Endurance Specialty Holdings has introduced a new service to allow its clients to better respond to ransomware and similar extortion events. 18 January 2017
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The Government of Bermuda is looking to encourage more Chinese investment in insurance companies and other financial firms on the Island. 17 January 2017
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2016 saw 315 natural catastrophes that generated economic losses of $210 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team, in its 2016 Annual Global Climate and Catastrophe Report. 17 January 2017
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A new survey by Willis Towers Watson claims that insurers are falling behind in digital innovation, with almost 50 percent of insurers expecting to acquire new technologies through M&A in next three years. 16 January 2017
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Some 85 percent of re/insurance executives are positive about the opportunities provided by the arrival of the Americas Cup to Bermuda this year, according to a survey by Bermuda:Re+ILS – but 15 percent of online readers fear it will be a distraction. 16 January 2017
ILS
2016 saw insurance linked securities (ILS) listings in Bermuda increase to a record level, according to the Bermuda Stock Exchange (BSX) in its end of year review. 13 January 2017
ILS
Alphacat Managers, the Bermuda-based third party reinsurance capital management subsidiary of Validus, has increased its third party assets under management (AUM) by 20 percent on the back of what its CEO called strong investor support. 13 January 2017
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Bermuda-based Fidelis Insurance has announced that Neil McConachie will be stepping down as group chief financial officer in January 2018. 13 January 2017
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