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2016 saw 315 natural catastrophes that generated economic losses of $210 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team, in its 2016 Annual Global Climate and Catastrophe Report. 17 January 2017
News
A new survey by Willis Towers Watson claims that insurers are falling behind in digital innovation, with almost 50 percent of insurers expecting to acquire new technologies through M&A in next three years. 16 January 2017
News
Some 85 percent of re/insurance executives are positive about the opportunities provided by the arrival of the Americas Cup to Bermuda this year, according to a survey by Bermuda:Re+ILS – but 15 percent of online readers fear it will be a distraction. 16 January 2017
ILS
2016 saw insurance linked securities (ILS) listings in Bermuda increase to a record level, according to the Bermuda Stock Exchange (BSX) in its end of year review. 13 January 2017
ILS
Alphacat Managers, the Bermuda-based third party reinsurance capital management subsidiary of Validus, has increased its third party assets under management (AUM) by 20 percent on the back of what its CEO called strong investor support. 13 January 2017
News
Bermuda-based Fidelis Insurance has announced that Neil McConachie will be stepping down as group chief financial officer in January 2018. 13 January 2017
News
A new report by AM Best claims that the professional liability sector of the property/casualty (P/C) insurance market remained dynamic through the end of 2016, with financial markets, economic, legal, and labour trends, in addition to social media concerns, among the numerous factors influencing the sector. 12 January 2017
News
Bermuda-based Enstar Group has announced that one of its wholly owned subsidiaries has completed a previously announced transaction to reinsure multi-line property and casualty business of QBE Insurance Group. The closing followed receipt of regulatory approval and satisfaction of closing conditions. 12 January 2017
ILS
Bermuda’s real estate market growth is being partially fuelled by insurance-linked security (ILS) start-ups arriving on the island, according to the latest real estate report from realtors Coldwell Banker Bermuda Realty. 11 January 2017
News
Assured Guaranty has announced that its subsidiary Assured Guaranty Corp. (AGC) has completed its acquisition of MBIA UK Insurance (MBIA UK), the European operating subsidiary of MBIA Insurance Corporation, which was first announced on September 29, 2016. 11 January 2017
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