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Hurricane Irma could have inflicted between $32 billion and $50 billion in combined industry insured losses, according to the latest loss estimate from catastrophe modelling firm AIR Worldwide. 18 September 2017
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Bermuda-based insurer Sirius has entered into a definitive agreement to purchase 4.9 percent of Israel-based The Phoenix Holdings from Delek Group for NIS 208 million ($59.04 million) in cash. 15 September 2017
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Hurricane Irma, which is ranked as one of the most powerful Atlantic storms on record, has created notable losses for global reinsurers but will have only a limited impact on the sector’s capital, according to an AM Best report. 15 September 2017
ILS
Hurricane Irma is expected to trigger rate increases of 405 percent for Nat cat reinsurance cover, largely driven by a likely reduction in alternative and convention reinsurance capital, according to research from asset manager AllianceBernstein. 14 September 2017
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The construction practices of Liberty Mutual and Ironshore have introduced a new specific programme offering general liability (GL) and professional liability (PL) protection for medium and large construction projects through design build or integrated project delivery (IPD). 14 September 2017
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Bermuda-based Everest Re Group has appointed Jonathan Zaffino, president of the North America insurance division and senior vice president, to the position of executive vice president. 13 September 2017
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XL Group has received the full internal model (ICM) approval from the Bermuda Monetary Authority (BMA) to determine the company's and its subsidiary XL Bermuda's respective enhanced capital requirements (ECR) in substitution of the Bermuda Solvency Capital Requirement (BSCR) standard formula. 13 September 2017
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HSCM Bermuda, a firm that invests in reinsurance and insurance-linked assets, has formed an investing partnership with specialty Lloyd’s managing general agency (MGA) Sciemus. 12 September 2017
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AXIS Insurance, a business segment of Bermud-based AXIS Capital Holdings, has appointed Christina Tom as vice president, renewable energy underwriter. 12 September 2017
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Excess and Surplus lines carrier Colony Specialty, a subsidiary of Argo Group International Holdings, has appointed two regional managers within its US casualty division. 11 September 2017
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