Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Chubb Bermuda Names Porter Head of Financial Lines
Mar 29 2019 // Chubb Bermuda has named Richard Porter as senior vice president, head of Financial Lines. In this role, Porter is responsible for leading Chubb Bermuda’s Financial Lines division, which includes directors and...
Shareholder Accuses Argo Group of Illegally Appointing Two Board Members
Mar 29 2019 // An Argo Group shareholder accusing the company and CEO Mark Watson III of extravagant spending practices now claims that the carrier illegally appointed two board members. Argo disagreed, continuing a very public battle...
EU Decision to Put Bermuda on List of Global Tax Havens ‘a Setback’: Premier Burt
Mar 13 2019 // Bermuda’s Premier David Burt on Tuesday called the European Union’s decision to put the British overseas territory on a list of global tax havens “a setback” but said he was confident it would soon...
ChainThat to Launch Blockchain-Driven Re/Insurance Risk Exchange in Bermuda
Mar 6 2019 // A blockchain-driven risk and capital exchange for the insurance and reinsurance market is set to be launched in Bermuda later this year by ChainThat. The exchange will allow broker, reinsurance and insurance companies...
Argo Shareholder Accuses CEO Watson of ‘Shockingly High’ Corporate Expenses
Feb 27 2019 // An Argo Group shareholder is nominating four new directors to counter what it alleges are “shockingly high” corporate expenses including pricey real estate, an office art collection, and CEO Mark Watson...
2 CATCo Executives Sue Markel Over Firing; Claim They Are Owed $77 Million
Feb 22 2019 // Two fired executives of Markel’s Bermuda reinsurance operations are suing Markel claiming the company created a false narrative alleging they violated corporate policy by having a personal relationship in order to...
‘Resilient’ Bermuda Reinsurance Market Copes with U.S. Tax Reform, Catastrophes
Jan 25 2019 // Bermuda-based (re)insurers continue to be tested by challenging market conditions, including heightened catastrophic losses and diminishing competitive advantage resulting from U.S. tax reform. However, the Bermuda market...
2 Markel CATCo Execs Leave After Reserves Inquiry Unveils ‘Personal Relationship’
Jan 22 2019 // Markel Corp. has reported that Anthony Belisle, Markel CATCo chief executive officer, and Alissa Fredricks, Markel CATCo chief executive officer for Bermuda, are no longer with the company following the disclosure of a...
Markel Faces Investor Lawsuit Over CATCo Loss Reserves
Jan 17 2019 // Markel Corp. is facing is class action shareholder lawsuit over reserve statements by its investment management unit that are being investigated by U.S. and Bermuda authorities New York law firm Bragar Eagel & Squire...
AXIS Capital Chairman Butt Inducted into Insurance Hall of Fame
Jan 4 2019 // AXIS Capital Holdings Ltd. announced that the International Insurance Society (IIS) has inducted Michael Butt, chairman of AXIS Capital, into the Insurance Hall of Fame and named Butt the 2019 Insurance Hall of Fame...
Aspen Insurance Bermuda Names Key Excess Casualty, FINPRO Appointments
Jan 4 2019 // Aspen Insurance announced two key appointments to its Bermuda insurance team. Saadia Savory joined Aspen insurance in December as vice president, Excess Casualty, Bermuda. She will lead the Bermuda Casualty team and...
Generali Completes Sale of Belgium Unit to Bermuda Re/Insurance Group Athora
Jan 2 2019 // Assicurazioni Generali SpA announced the closing of the sale of its entire stake in Generali Belgium SA to Athora Holding Ltd. for approximately €540 million ($618.9 million). The deal was first announced on April 18,...
Top Insurance Journal International Stories of 2018
Dec 31 2018 // Mergers & acquisitions drew a lot of interest from the readers of Insurance Journal’s International section in 2018 with 11 of the top 25 articles focusing on Marsh & McLennan’s acquisition of JLT,...
Ed Broking to Open Bermuda Operation
Dec 10 2018 // Ed, the London-based reinsurance, wholesale and specialty broker, announced that it will expand its international footprint by setting up a broking platform in Bermuda. Once approved by the Bermuda Monetary Authority, the...
Peak Re Launches Asian Reinsurance Sidecar Deal Using Bermuda Special Purpose Insurer
Dec 10 2018 // Peak Reinsurance Co., the Hong Kong-based reinsurer, announced it has launched Asia’s first sidecar transaction via a new Bermuda-domiciled special purpose insurer, Lion Rock Re Ltd., to provide collateralized...
Markel CATCo Reports U.S., Bermuda Inquiries into Reserves
Dec 9 2018 // On Friday Dec .7, Markel Corp. said it was fully cooperating with inquiries by U.S. and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd., the...
Horton Heads Ironshore Bermuda Rebranded as Liberty Specialty Markets
Dec 6 2018 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, is integrating its Ironshore Bermuda businesses and brands into one brand called Liberty Specialty Markets Bermuda. The new business will be led by...
Business Moves
Dec 3 2018 // Hilb Group, Burns & Eustice Insurance Agency Hilb Group LLC has acquired Michigan-based Burns & Eustice Insurance Agency. B&E has been offering property/casualty insurance products and services to businesses...
U.S. Multinationals Flee No-Tax Caribbean Havens, in Favor of Low-Tax Havens
Nov 15 2018 // Many U.S. multinational corporations have packed up or are choosing to open subsidiaries in low-tax, rather than no-tax, countries that are seen as more legitimate than the formerly popular island destinations of the...
Chubb Bermuda Names Gonsalves Division President, Succeeding Clabby
Oct 19 2018 // Chubb has appointed Judy Gonsalves vice president of Chubb Group and division president of Bermuda. In this capacity, she has executive operating responsibility for the Bermuda-based commercial property and casualty (P/C)...
