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Bermuda-based BF&M, the holding company of several life and non-life insurers, increased its profits and enjoyed some growth in the first nine months of 2016 – despite being hit by claims associated with the Front Street fire in Bermuda that occurred in July 2016. 8 December 2016
News
Endurance Specialty Holdings (Endurance) has scheduled a special general meeting of its shareholders to seek approval for the acquisition of 100 percent of the outstanding ordinary shares of Endurance by SOMPO Holdings. 7 December 2016
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The Association of Bermuda Insurers and Reinsurers (ABIR) has elected Kevin O’Donnell, president and CEO of RenaissanceRe Holdings, as chair for a two-year term, effective January 1, 2017. 7 December 2016
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Liberty Mutual's purchase of Ironshore – just over a year after the latter was bought by Fosun International, China’s largest conglomerate - has stirred up a positive reaction among rating agencies. 6 December 2016
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PartnerRe has hired a CEO for its life and health unit, replacing Marvin Pestcoe, who will continue as a member of PartnerRe’s executive management group as chief risk and actuarial officer. 6 December 2016
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Ironshore is to be sold to Liberty Mutual, just over a year after previous owner Fosun International, China’s largest conglomerate, bought the Bermuda-based property/casualty insurer. 6 December 2016
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ArgoGlobal, the Lloyd’s insurer and member of Bermuda-based Argo Group, has announced the appointment of Michael Thompson as hull class underwriter. 5 December 2016
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Chelsea Avondale, a company formed on Bermuda this year by a high-net-worth investor base to acquire of community-based property/casualty insurers and principally invest the assets, has completed one of its first deals. 5 December 2016
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Till Capital (Till), a Bermuda-based company that owns Omega Insurance Holdings and Resource Re, has initiated a new normal course issuer bid (NCIB) and intends to bid for up to 262,860 common shares, representing 10 percent of the 2,628,600 shares forming Till's public float. 2 December 2016
ILS
Specialist global insurer Hiscox has hired Michael Krefta as CEO of Bermuda-based reinsurer Hiscox Re and ILS and Hiscox Bermuda, replacing Jeremy Pinchin, effective August 1, 2017. 2 December 2016
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