Inga Beale, former Group CEO at Canopius has been appointed CEO of the Lloyd’s market, succeeding Richard Ward. She will take up her position in January. 17 December 2013
The Federal Insurance Office’s Modernization Report has recommended greater federal oversight, a drive towards uniformity in state insurance regulation, and potential punitive measures for those states unwilling to play ball. 17 December 2013
Levels of share buybacks among Bermuda cat players reflect tough market conditions, with the renewals likely to be shaped by the influx of convergence capital. 17 December 2013
Arch Re’s recent $77.4 million cover for Freddie Mac—the troubled US Federal Home Loan Mortgage Corporation famous for taking a hit in the financial crisis—could signal growing opportunity in US public risk for private Bermuda reinsurance players. 5 December 2013
Silverton Re, formed by Aspen Re’s capital markets division to provide additional collateralised capacity to support the reinsurer’s global reinsurance business, will be capitalised at $65 million. 2 December 2013
AXIS has received formal approval for the launch its own Lloyd’s syndicate in 2014, AXIS Syndicate 1686, which will deliver £119 million to the Lloyd’s market. 29 November 2013
Hardy Underwriting has announced that it has ceased underwriting business from Bermuda following a “strategic business review”. Hardy will remain domiciled on the Island. 29 November 2013
A new Bermuda class is likely to comprise life reinsurers and/or hedge-fund backed reinsurers, looking to take advantage of the Island’s beneficial regulatory and tax regime. 28 November 2013
