Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Markel Launches Bermuda Retrocessional ILS Platform, Lodgepine Capital Management
Sep 12 2019 // Markel Corp. announced the launch of Lodgepine Capital Management Ltd., its new retrocessional Insurance Linked Securities (ILS) fund manager in Bermuda, together with a reinsurance company, Lodgepine Re. Lodgepine’s...
Liberty Specialty Markets Promotes Garside to Head of Bermuda Property
Aug 28 2019 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Nicholas Garside to the role of head of Bermuda Property. Reporting to Steve Horton, president, Liberty Specialty Markets Bermuda,...
JLT’s Adams Joins Everest Insurance to Lead Its Bermuda Operation
Aug 20 2019 // Everest Insurance said Kyle Adams has joined to lead the its Bermuda operations. In this role, Adams will focus on establishing and growing Everest’s Bermuda Insurance operations. Adams comes to Everest with 20 years...
Sompo Global Risk, VGM Insurance to Offer Golf Course, Country Club Coverage
Jul 30 2019 // Bermuda-based specialty insurance provider Sompo International Holdings Ltd. subsidiary Sompo Global Risk Solutions (GRS) has entered into a strategic partnership with VGM Insurance & Financial Solutions (VGM) to offer...
Argo Group Warns Q2 Earnings Will Take a Hit
Jul 29 2019 // Argo Group International Holdings Ltd. is warning that its results for its 2019 second quarter will take a hit due to losses affecting operations in London, Europe and Bermuda. Issues at play include: Prior year losses of...
AXA XL Appoints 3 Senior Executives to London Reinsurance Team
Jul 29 2019 // AXA XL announced three senior appointments to its London Reinsurance team, with the promotion of Megan Kempe, coupled with the additions of Nick Pascall and Conor Gaffney. Kempe has been promoted to head of US Property...
Markel Puts CATCo into Run-Off and Launches New Retrocessional ILS Platform
Jul 26 2019 // Markel Corp. announced it is putting its Bermuda insurance linked securities unit, Markel CATCo, into run-off at the same time it announced it is launching a new retrocessional ILS fund platform, which will be ready to...
Catalina Holdings Appoints Ryland from Armour as Chief Executive of Catalina UK
Jul 19 2019 // Legacy acquisition firm Catalina Holdings (Bermuda) Ltd. announced the appointment of Steve Ryland as chief executive of Catalina UK. With over 30 years of insurance and reinsurance experience, Ryland joins the business...
Markel Says It Is Resolving Suits Filed by Fired CatCo Executives
Jul 16 2019 // Markel Corp. appears on the way to settling with two former employees who sued over unpaid bonuses after they were dismissed for allegedly having a personal relationship that Markel said violated company policy. The...
Liberty Mutual Completes $240 Million Limestone Re Transaction
Jul 2 2019 // For the fourth time, Liberty Mutual has utilized capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. The Boston-based insurer said it has completed a new...
Legacy Acquisition Firm Randall & Quilter to Buy Bermuda’s Sandell Holdings
Jul 1 2019 // Legacy acquisition specialist Randall & Quilter Investment Holdings Ltd. announced that its wholly owned subsidiary, Randall & Quilter II Holdings Ltd., has signed an agreement to acquire, subject to regulatory...
Specialty Broker Ed Expands to Bermuda
Jun 25 2019 // Reinsurance and specialty broker Ed said it has received regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda. Ed Bermuda will provide its multiline broking services through TradEd, its...
Dunleavy Named Aspen Re’s CUO, Succeeding Issavi Who Moves to Ryan Specialty
Jun 7 2019 // Emil Issavi, previously Aspen Re’s president and chief underwriting officer and managing director of the Americas is taking on a new role as a senior executive of Ryan Specialty Group (RSG), RSG Underwriting Managers...
Aspen to Place UK MGA in Runoff, Closes Dublin Office and Makes Executive Changes
May 15 2019 // Aspen Insurance Holdings is placing its UK managing general agency in runoff, closing its Dublin office and making a slew of executive personnel changes including naming a new CEO of Aspen Bermuda, a new group chief...
Third Point Reinsurance Names Malloy as CEO, Succeeding Bredahl Who Has Resigned
May 10 2019 // Third Point Reinsurance Ltd. (TPRE) has appointed Daniel Malloy as CEO, effective May 10. He succeeds J. Robert Bredahl, whose resignation has been accepted by the board. Bredahl had been TPRE’s CEO since March...
Ryan Specialty Group and Nationwide Form Bermuda Reinsurer, Geneva Re
May 7 2019 // Ryan Specialty Group (RSG) and Nationwide announced they have formed a new Bermuda reinsurance company, Geneva Re Ltd. Columbus, Ohio-headquartered Nationwide will own 50 percent of the venture with RSG and RSG-related...
Industry Veterans Catlin and Brand Launch Specialty Bermuda Re/Insurer Convex Group
Apr 30 2019 // Insurance industry veterans Stephen Catlin and Paul Brand announced they have launched an international specialty insurer and reinsurer, Convex Group Ltd. Convex launches with $1.8 billion of initial committed capital and...
Lloyd’s Innovation Drive Faces Headwinds from Some Brokers, Underwriters
Apr 26 2019 // Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. Old-fashioned business practices, exposure to natural disasters, competition from rival centers and Brexit...
Markel Internal Review Finds ‘No Bad Faith’ Related to Loss Reserves Under Investigation
Apr 15 2019 // Markel Corp. said that an internal review conducted by outside counsel found “no evidence that personnel of its CATCo unit acted in bad faith in exercising business judgment in the setting of reserves and making...
AXA XL Promotes Minors to Product Line Leader, Bermuda Professional Lines Business
Apr 4 2019 // AXA XL has promoted Jennifer Minors to senior vice president – product line leader in its Bermuda Professional Lines Insurance business. Minors is responsible for managing directors and officers (D&O), professional...
