Bermuda-based re/insurance company AXIS Capital suffered a decline in its profits in the third quarter of the year, mainly due to high offshore energy losses and adverse impact of volatility its investment portfolio. 28 October 2015
XL Catlin’s profits fell in the third quarter, largely due to integration costs associated with its merger with Catlin earlier this year. 27 October 2015
Everest Re made a net profit of $88.6 million in the quarter a big drop on the $274.9 million it made in the same period a year earlier. 27 October 2015
Fidelis Insurance has hired three senior executives one of which joins as the company’s Bermuda chief executive officer. One has joined from Catlin and two from Amlin Bermuda. 26 October 2015
Bermuda-based insurance manager Horseshoe Group has formed a new unit designed to help asset managers form their own reinsurance company without significant start-up costs. 26 October 2015
ACE, which has operations in Bermuda, has announced its shareholders have voted in favour of all proposals related to the company’s previously announced agreement to acquire The Chubb Corporation at a special meeting. 23 October 2015
Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR) praised the Brazilian Government’s recent announcement to phase out mandates on local reinsurance operations that currently limit the availability of affiliate reinsurance in the country and limit cross border trade with unaffiliated reinsurers. 22 October 2015
