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Bermuda reinsurer Validus Holdings has said it does not anticipate potential changes to US tax law having a material impact on its results or operations. 8 December 2017
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Two subsidiaries of Bermuda-based Argus Group Holdings have been upgraded by AM Best as a result of a combination of improved earnings diversification in recent years and the de-risking of the group’s balance sheet. 8 December 2017
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The chief financial officer of Brit has highlighted the importance of Bermuda as a hub for the company stressing its Solvency II compliance and depth of expertise as being important reasons for this. 7 December 2017
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The chief executive of Markel CATCo Investment Management has tipped the business to grow by 30 percent in 2018 – and it has appointed a new Bermuda chief executive to help manage this growth. 7 December 2017
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Aspen has hired David Schick, the former was executive vice president of group strategy and transformation at Maybank, a Malaysian bank, as its group chief operating officer. 7 December 2017
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RenaissanceRe has stressed the critical role that the reinsurance industry plays in rebuilding communities in the wake of natural disasters as it revealed its loss estimates relating to the October 2017 California Wildfires. 7 December 2017
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Profits at Bermuda insurer BF&M, which operates across much of the Caribbean, were hit hard by losses from Hurricanes Irma and Maria in the third quarter. This had a knock-on effect on its nine-month results. 6 December 2017
ILS
The Premier of Bermuda has welcomed the outcome of a 10 month investigation by the European Union that has excluded Bermuda from a so-called blacklist of countries that it claims are not doing enough to crack down on offshore avoidance schemes. 5 December 2017
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A new product launched by Maiden Re that allows insurers with limited access to the capital markets pre-committed access to subordinated debt funding will be particularly valuable to companies because regulations such as Solvency II force insurers to disclose their solvency ratio, according to the reinsurer’s CEO. 5 December 2017
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Brad Kading, the president and chief executive of the Association of Bermuda Insurers and Reinsurers (ABIR), will step down at the end of the year after leading the trade body for 12 years. 5 December 2017
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