Third Point Re has had its financial strength rating of A-(Excellent) and its issuer credit rating of “a-” affirmed by AM Best following a strong first year of operations. 24 January 2013
27 special purpose insurers (SPIs) were established in 2012, as the Island played host to an increasing number of innovative vehicles looking to extend sidecar and dedicated cat fund capacity to the market. 24 January 2013
In its Bermuda 2013 Market Update, rating agency, Fitch argued that certain Bermuda players are becoming ‘risk asset managers’ as the market takes an increasingly prominent role in the convergence space. 24 January 2013
Assured Guaranty announced that it intends to dispute its ratings downgrade from Moody’s, which reduced its insurance financial strength rating to Baa1 (stable outlook) for Assured Guaranty Re. 24 January 2013
Allied World Bermuda launched Constellation this week, a suite of five excess casualty coverage enhancements combined into one package. 17 January 2013
According to Aon Benfield’s latest review of the global ILS market, a strong fourth quarter in 2012 resulted in a five-year high for the market, with issuance reaching $6.25 billion by the close of the year. 17 January 2013
Blue Capital Global Reinsurance Fund, backed by Bermuda-based, Montpelier Re and listed on the London and Bermuda stock exchanges, announced this week that it has deployed 58 percent of its fund capacity. 17 January 2013
Everest Re announced on Friday the formation of Bermuda-domiciled special purpose reinsurer, Mt. Logan Re, through which it will extend global collateralised property cat capacity to the market. 17 January 2013
