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AM Best has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the long-term issuer credit rating (Long-Term ICR) to “bbb+” from “a-” of Citadel Reinsurance Company. 22 November 2018
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Marsh, which has a significant presence on Bermuda, has released its Global Insurance Market Index for the third quarter of 2018. 22 November 2018
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Arch Insurance has announced Hugh Sturgess is the new chief executive officer (CEO) of Arch Insurance International, as from the beginning of 2019, subject to regulatory approvals. 21 November 2018
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According to AM Best the US insurance industry has only limited exposure to PG&E Corporation, the California utility whose equipment is being investigated as having a potential role in the deadly Camp Fire, which has ravaged northern California. 21 November 2018
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Markel stunned the market in August when it unveiled its plan to acquire Nephila Capital. While there is risk attached to the deal, it is based on an informed prediction of how the risk landscape will change, says Jed Rhoads, president and chief underwriting officer, Markel Global Reinsurance. 21 November 2018
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RMS has estimated that insured losses from The Camp and Woolsey Wildfires in California are expected to reach between $9 billion and $13 billion. 20 November 2018
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DARAG Guernsey has acquired the entire share capital of SOBC Services via its wholly owned subsidiary, SOBC DARAG Holdings. 20 November 2018
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AXA XL's reinsurance operation has announced that it has bought up all of the third party ownership interests in its majority-owned asset management affiliate, New Ocean Capital Management. 20 November 2018
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Bermuda-based Sirius International Insurance Group has posted a net loss of $28 million for the third quarter of 2018, up from the net loss of $179 million it made in the same period of 2017. 19 November 2018
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Brit has launched Sussex Capital UK PCC, a new multi-arrangement Insurance Special Purpose Vehicle (mISPV). 19 November 2018
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