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AM Best has revised the outlooks to positive from stable and affirmed the financial strength Rating of B++ (Good) and the long-term issuer credit Ratings (Long-Term ICR) of “bbb+” of Argus Insurance Company and Bermuda Life Insurance Company. Each company is a subsidiary of Argus Group Holdings. 16 December 2016
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Enstar Group (Enstar) has introduced KaylaRe, a Bermuda-based, Class 4 reinsurer, offering a diversified range of specialty reinsurance to the global insurance market. 16 December 2016
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Essent Guaranty, a Bermuda-based provider of mortgage insurance (MI) and PCLender, a provider of web-based mortgage solutions for community banks, credit unions and mortgage bankers, have revealed that Essent MI is available to lenders through PCLender’s Loan Origination System (LOS). 15 December 2016
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Axis Capital Holdings, a Bermuda-based provider of specialty re/insurance, is expected to re-domicile its London office to new skyscraper, ‘The Scalpel’, in 2018 alongside Lloyd’s of London at 52 Lime Street. 15 December 2016
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The Bermuda Business Development Agency (BDA) has appointed two new directors to its board. 15 December 2016
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The Association of Bermuda Insurers and Reinsurers (ABIR) has added to the chorus of objections to the recent report released by Oxfam about the world’s worst tax havens, with Bermuda at the top of the list for criticism. 14 December 2016
ILS
Bermuda-based RenaissanceRe has announced a string of changes to its senior management which will be implemented in 2017. 14 December 2016
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Neon, a specialist Lloyd’s insurer, has hired Tom Hulst and Gavin Hunter as non-executive directors of Neon’s Bermuda operations, effective immediately. 12 December 2016
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Tokio Solution, the Bermuda-based third party capital (TPC) arm of Tokio Millennium Re (TMR), has announced changes to its senior management as part of a wider restructuring and review of its TPC strategy. 12 December 2016
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The Government of Bermuda has hit back after the Island was highlighted for criticism by a recent report by global charity Oxfam on taxes and transparency. 12 December 2016
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