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The International Accounting Standards Board (IASB) has decided, subject to the IASB’s due process, that the IFRS 17 insurance accounting standard will be delayed by one year and the extension of the deferral of IFRS 9 to the same date. 15 November 2018
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AM Best is estimating that wildfire losses in California will reach record levels in 2018 after three different fires erupted in November and will force insurers to re-price and reassess their California exposures. 14 November 2018
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Hamilton Re has announced that David Roache has joined in the newly-created position of senior vice president, Head of Risk XS. 13 November 2018
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Roland (Andy) Burrows has been appointed as the new chief executive officer of the Bermuda Business Development Agency (BDA) by its Board of Directors. 13 November 2018
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Marsh is to create the Marsh-JLT Specialty unit, which will combine the specialty teams of Marsh and Jardine Lloyd Thompson (JLT) Group. 13 November 2018
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Assured Guaranty has announced the successful combination of the portfolios and operations of its four international financial guarantee insurance companies. Assured Guaranty (London), Assured Guaranty (UK) and CIFG Europe, which were previously acquired by Assured Guaranty Europe, have been merged with and into AGE, with AGE as the surviving entity. 13 November 2018
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Reinsurers must accept that the age of post-loss payback is over and focus on doing a better job for their clients—that sums up the sentiment of some of Bermuda’s top reinsurance executives as they move into another renewals negotiation characterised by paltry rate increases. Bermuda:Re+ILS reports. 12 November 2018
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Maiden Holdings has reported net losses for the third quarter of 2018 after its AmTrust reinsurance segment saw adverse prior year loss development. 12 November 2018
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Hamilton Insurance Group is expanding its focus on youth digital literacy in Bermuda through a partnership with Code441, a non profit founded to empower and equip young people with the skills and resources to pursue opportunities in technology. 12 November 2018
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Bermuda’s life reinsurance sector has been steadily growing and gaining influence for many years. Here, in the first of a two-part series, Gokul Sudarsana from Deloitte interviews Sylvia Oliveira, Scott Selkirk and Manfred Maske about the key drivers of growth in this sector. 12 November 2018
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