Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
ICAT Syndicate 4242 & Neon Partner to Underwrite Large U.S. Property
Jan 9 2017 // ICAT Syndicate 4242 at Lloyd’s, a U.S. catastrophe-exposed property underwriter, and Neon, a specialist Lloyd’s underwriter, have partnered in a reciprocal capacity arrangement to bring additional per risk...
BRIT Renews, Expands Bermuda-Based SPV Versutus
Jan 9 2017 // London-based Brit Ltd. said it has renewed and expanded the collateralized reinsurance capacity provided by the Bermuda domiciled special purpose insurer, Versutus Ltd., in support of Brit’s property treaty portfolio...
RenaissanceRe Forms Special Purpose Insurer Fibonacci Re
Jan 4 2017 // Renaissance Reinsurance Ltd. announced the formation of Fibonacci Reinsurance Ltd., a special purpose insurer domiciled in Bermuda. Fibonacci Re was formed to provide collateralized capacity to Renaissance Reinsurance, the...
Enstar Launches Bermuda Specialty Reinsurer KaylaRe; Packer Appointed CEO
Dec 20 2016 // Enstar Group Ltd. has launched KaylaRe Ltd., a Bermuda-based Class 4 reinsurer, offering a diversified range of specialty reinsurance to the global insurance market. KaylaRe launches with initial capital of $620 million,...
3rd Party Capital Specialist Tokio Solution Simplifies Management Structure
Dec 13 2016 // A division of Tokio Millennium Re focused on third party capital markets facilitation is changing its management structure in a bid to boost efficiency. The changes are coming to Tokio Solution Management Ltd., the...
XL Catlin Names Gale & Littlemore to Lead Bermuda, London Reinsurance Units
Dec 9 2016 // XL Catlin’s reinsurance operations has announced two key leadership appointments for Bermuda and London, both effective January 2017. Jonathan (Jon) Gale, currently chief executive London Reinsurance, will take over...
Krefta Named CEO of Hiscox Re and ILS, Succeeding Pinchin
Dec 2 2016 // Specialist global insurer Hiscox announced that Michael Krefta has been appointed CEO of Hiscox Re and ILS, and CEO of Hiscox Bermuda, effective Aug. 1, 2017. He will succeed Jeremy Pinchin who, after five years in...
Willis Re Appoints Kent as Global Deputy CEO
Nov 29 2016 // Willis Re, the reinsurance business of Willis Towers Watson, announced the promotion of James Kent – co-president of Willis Re and President of Willis Re North America – to the position of Global Deputy CEO, Willis Re,...
Reinsurers Welcome Rate Stabilization: S&P-PwC Bermuda Reinsurance Forum
Nov 18 2016 // North American reinsurers may soon see some rate stabilization after a prolonged period of declining premium rates, as they deal with a supply-demand imbalance that has weighed on returns, according to executives at the...
Neon Bermuda Taps Chubb’s Hunt to Become SVP, Property Insurance
Oct 24 2016 // Neon announced it has appointed Dwayne Hunt to the role of senior vice president – Property Insurance, in Neon’s Bermuda office. Neon said it opened a Bermuda office earlier this year to provide greater access...
Bermuda-Based Somerset Re Raises Capitalization to $375 Million
Oct 21 2016 // Somerset Reinsurance Ltd. has increased its common share capitalization to $375 million, including investments from three strategic investors and a diverse group of high net worth investors. Somerset Re provides customized...
Hurricane Nicole Weakens After Direct Bermuda Hit; Storm Trackers Comment
Oct 14 2016 // Hurricane Nicole made a direct hit on Bermuda Thursday as the strongest hurricane to affect the Atlantic archipelago in 13 years, according to a report issued by Weather Underground. The storm’s impact on Bermuda has...
Category 4 Hurricane Nicole Lashes Bermuda with Winds & Flooding Rain
Oct 13 2016 // Hurricane Nicole, which has become a Category 4 hurricane, will continue to lash Bermuda with winds and flooding rain through Thursday, according to a report issued by AccuWeather. As a Category 4 hurricane with sustained...
AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties
Sep 16 2016 // American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board...
Allied World Bermuda Appoints Chow as Senior VP, Professional Lines
Aug 26 2016 // Allied World Assurance Company Holdings announced that Dale Chow has been appointed to senior vice president, Professional Lines, for Allied World Bermuda. In this role, Chow will be responsible for the strategic...
Willis Re Taps Aon’s McDowell to Lead Bermuda Unit; Harden as APAC President
Aug 23 2016 // Willis Re announced the appointment of Chris McDowell as CEO of Willis Re Bermuda. Effective Jan. 1, 2017, he will succeed Michael Harden, CEO of Willis Re Bermuda since 2014, who is returning to the Asia Pacific region as...
XL Group Completes Relocation of Domicile to Bermuda
Jul 27 2016 // XL Group Ltd. announced it has completed its redomestication to change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland. As previously announced, the name of the new holding company...
Correction: Catalina to Buy Hartford Financial Products International & Downlands Liability Management
Jul 27 2016 // (Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International &...
Catalina to Buy Hartford Financial Products International & Downlands Liability Management
Jul 26 2016 // (Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International &...
Randall & Quilter Buys Bermuda-Based Segregated Accounts Captive Company
Jul 18 2016 // Randall & Quilter Investment Holdings Ltd. has acquired Agency Program Insurance Co. (SAC) Ltd., a Bermuda-based segregated accounts captive company with 28 cells. London-based Randall & Quilter (R&Q) is paying...
