The Bermuda Monetary Authority has appointed Andrew Gibbs as director, supervision (insurance). He will report to Craig Swan, managing director, supervision. 6 January 2014
Bermuda has been recognised by the National Association of Insurance Commissioners in the US as a Conditional Qualified Jursidiction. Recognition will help to reduce the collateral requirements of Bermuda reinsurers. 6 January 2014
According to Nick Farland, CEO of EMEA at Guy Carpenter, the falling rates are a trend that began at mid-year renewals and continued through to the New Year. 6 January 2014
The US insurance industry posted underwriting profits of $7.5 billion for the first nine months of 2013, according to a report by AM Best, a significant improvement on the $4.7 billion lost during the same period in 2012. 6 January 2014
Tower Group has announced a merger with privately-held and Bermuda-based ACP RE, with the new entity set to operate under the Tower name but as a subsidiary of ACP Re. 6 January 2014
Third Point Re, the public face of Bermuda’s most recent class, has appointed Nicholas Campbell as senior vice president, underwriting. 23 December 2013
Insured losses from 2013 were half that suffered in 2012, with limited cat losses set to place additional pressure on what is likely to be a tough renewal. 19 December 2013
