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The Bermuda International Long Term Insurers and Reinsurers (BILTIR) association has awarded its first scholarship to Bermudian Imani Smith at the Association of Bermuda International Companies (ABIC) Education Awards meeting. 17 August 2016
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Arch Capital Group is to broaden its mortgage insurance operations through the acquisition of two businesses from American International Group (AIG) for approximately $3.4 billion. 16 August 2016
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AXIS Accident and Health has appointed Christian Romeih as vice president and business development manager of its Middle East and North Africa reinsurance business. 16 August 2016
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Hamilton Insurance Group has announced that Russell Fradin, the former CEO of Aon Hewitt, has joined its board of directors. 15 August 2016
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The chief executive of Freisenbruch-Meyer Insurance Services, whose headquarters was gutted by fire in July, has said he hopes to open the company’s office on Front Street by early September. 15 August 2016
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The National Oceanic and Atmospheric Administration (NOAA) has increased the possibility of damaging events and reiterating its prediction that the season will be the most active since 2012, in its 2016 Atlantic hurricane outlook update. 12 August 2016
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Tough market conditions make further growth in its reinsurance segment unlikely this year, Richard Whitt III, co-chief executive officer of Markel Corporation, said in a conference call next week covering the company’s second quarter results. 12 August 2016
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AXIS Capital plans to increase the amount of business it will cede with Harrington Re, the new total-return focused reinsurer formed in July this year, the main beneficiary, the leadership team at AXIS Capital revealed in a recent conference call covering its second quarter earnings. 11 August 2016
ILS
A report by the Bermuda Business Development Agency (BDA) has identified five opportunities for growth in the domicile’s participation in the global insurance-linked securities (ILS) market. 11 August 2016
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Ironshore’s Pembroke Managing Agency, with offices in Bermuda, has presented its ‘Specie Consortium’, a project backed by 21 Lloyd’s syndicates which provides almost $635 million per risk. 11 August 2016
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