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Law firm Sedgwick has announced that Nick Miles has been promoted to partner at its Bermuda office, effective immediately. 5 January 2017
News
Rapid growth in the cyber insurance market is being driven by increasing fears of an impending and costly cyber attack, according to a survey by specialist lines underwriting agency CFC Underwriting conducted at the recent 2016 Cyber Symposium in London. 5 January 2017
ILS
A new set of rules clarifying the regulatory treatment of collateralised reinsurance, including insurance-linked securities (ILS), and allowing for a one-day approval process have been published by the Guernsey Financial Services Commission (GFSC). 5 January 2017
News
2016 was the costliest year for natural catastrophe losses since 2012, with $175 billion in damages, of which only 30 percent – or $50 billion – was insured, Munich Re claims in a new report. 5 January 2017
News
The Federal Emergency Management Agency (FEMA) has finalised a deal involving some 25 reinsurers brokered by Guy Carpenter in order to secure more than $1 billion of reinsurance coverage for the National Flood Insurance Program (NFIP) for 2017. 4 January 2017
News
Johan Haggo has been appointed as a senior underwriter at specialist insurer Markel International’s personal accident, contingency and entertainment (PACE) team. 4 January 2017
News
RenaissanceRe has formed a new sidecar purposed to provide collateralized capacity from third party investors to Renaissance Reinsurance, the principal Bermuda-based reinsurance subsidiary of RenaissanceRe Holdings. 4 January 2017
News
Arch Capital Group (ACGL) has finalised the acquisition of United Guaranty Corporation (UGC) from American International Group (AIG). 4 January 2017
ILS
Buyers managed to improve terms and pricing in the year-end renewals, with pricing stabilisation remaining a major challenge for re/insurers, according to the latest 1st View Renewals Report from Willis Re. 3 January 2017
News
Bermuda legacy specialist Enstar has gone outside the world of insurance for the first time after buying Dana Companies, a subsidiary of an auto parts manufacturer. 3 January 2017
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