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The resilience of Bermuda’s (re)insurance sector to withstand potential catastrophic events strengthened year-on-year, according to a new Bermuda Monetary Authority (BMA) Report. 6 November 2017
Re/insurance
The important role of Bermuda in the aftermath of potentially big losses stemming from hurricanes Harvey and Irma was at the centre of debate at the annual Bermuda:Re+ILS Monte Carlo roundtable sponsored by Markel Global Reinsurance and attended by 11 senior industry executives from all parts of the risk transfer industry on the Island. 3 November 2017
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Arch Capital Group (ACGL) has announced that Kewsong Lee has resigned from its board of directors. 3 November 2017
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Assured Guaranty has announced that James Michener, general counsel and secretary of the company, will become senior advisor to chief executive officer, Dominic Frederico, effective January 1, 2018. 3 November 2017
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Lockton has announced that Gareth Davies has joined its Bermuda team as senior vice president, property. 3 November 2017
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Argo Group has announced that it made a loss of $61.3 million over the third quarter of 2017, a severe decline on the profit of $55.2 million it made in the same period of 2016. 3 November 2017
Life
Identifying future moves in the market for a place such as Bermuda is always an interesting process. Bermuda:Re+ILS eyes the current trends. 2 November 2017
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Cedent has announced the formation of Resilience Economics, a corporate finance advisory firm based in Bermuda that is focused on climate risk, with an initial $500 million of capacity from its strategic partner, Nephila Capital, for new and innovative climate risk solutions. 2 November 2017
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Attune, which is backed by Hamilton Insurance Group, American International Group and Two Sigma Investments, has announced the appointment of Martha Dreiling as head of analytics and corporate operations and Richard Stamets as head of underwriting strategy. 2 November 2017
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Fidelis Insurance has announced that it has created its first managing general agent, Radius, two months ahead of schedule. 1 November 2017
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