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Another Bermuda-based re/insurer has estimated the extent of its losses stemming from a busy period of catastrophe losses in the last quarter including the Canadian wildfires and weather-related events in the US. 18 July 2016
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Endurance Specialty Holdings has presented a rough estimate of $55.5 million net negative financial impact to the company in the second quarter of 2016 from the collective natural disasters which resulted in approximately $10 billion industry losses. 15 July 2016
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Aspen Insurance Holdings, XL Group and Argo Group have all issued estimates for their natural catastrophe losses in the second quarter of 2016. 15 July 2016
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Ironshore Specialty Casualty has offered its commercial clients a third party product recall cost endorsement as an improvement to its primary general liability coverage. 14 July 2016
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Competitive pressures within the reinsurance market and a challenging investment environment have caused hedge fund reinsurers (HFRs) to ‘lose momentum’, according to analysts from S&P. 14 July 2016
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Qatar Re, a Bermuda reinsurer, has expanded its governance and operations with the addition of Andrew Smith as chief risk officer, Adam Young as head of compliance and Steve Tidd as chief operation officer. 13 July 2016
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The insurance segment of Bermuda-based Insurance Holdings, Aspen Insurance, has expanded its US crisis management line of business with the appointment of Nicky Alexandru as its head. 13 July 2016
ILS
Timetric’s Insurance Intelligent Center (IIC) has predicted a steady rise in the Bermuda insurance industry which is expected to reach $167.1 billion by 2019. 12 July 2016
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Validus Holdings has provided an initial estimate of its net losses from second quarter 2016 notable and non-notable loss events. 12 July 2016
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The Organisation for Economic Co-operation and Development (OECD) has released a discussion draft which deals with the design and operation of the group ratio rule under Action 4 of the BEPS Action Plan, and a standardised IT-format for the exchange of tax rulings (ETR) between jurisdictions – the ETR XML Schema – under BEPS Action 5. 12 July 2016
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