Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Bermuda Insurance Industry Expected to Grow by 10.3% Annually Until 2019
Jul 14 2016 // The Bermuda insurance industry is projected to grow at a steady pace as a result of new regulations and consistent growth in external business, such as offshore and captive, according to a new report published by...
AXIS Capital’s New Bermuda Operation, Harrington Re, Raises $600M
Jul 6 2016 // Harrington Re, a fledgling Bermuda operation sponsored by AXIS Capital Holdings Ltd., has raised $600 million in capital designed to beef up underwriting and investment plans put forth by its sponsor. Blackstone Group will...
Bermuda Market Associations Allay Fears of Brexit Contagion
Jul 1 2016 // Four leaders of Bermuda market groups quickly issued statements last week to allay any fears that the fallout from the UK’s Brexit vote would hit their market as well. “In a global economy, Bermuda is affected,...
XL Group’s Shareholders Approve Move to Bermuda from Ireland
Jun 24 2016 // XL Group plc announced that its ordinary shareholders have approved a scheme of arrangement that will change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland, which is expected to...
Specialist Lloyd’s Insurer Neon Opens Bermuda Office with Fisher as CEO
Jun 21 2016 // The specialist Lloyd’s insurer Neon, formerly known as Marketform, announced it has opened an office in Bermuda as it grows its international footprint with greater access to both the Bermudian and U.S....
CFOs Must View Their Companies ‘Holistically’: Hamilton’s CFO Reiss
Jun 13 2016 // A successful chief financial officer needs to be collegial, cooperative, highly visible and a strategic thinker who has the ability to view corporate risks holistically, according to Jonathan Reiss, CFO of Bermuda-based...
Iron-Starr Forms Underwriting Alliance with Oil Casualty Insurance
Jun 10 2016 // Ironshore Inc. has added Oil Casualty Insurance, Ltd. (OCIL) as a subscribing insurer to Iron-Starr Excess Agency Ltd. for Financial Lines business. Iron-Starr currently underwrites on behalf of Ironshore Insurance Ltd....
Captive Manager Marsh IAS Promotes 2 Senior Leaders in Bermuda
Apr 28 2016 // Marsh IAS has appointed Jill Husbands as chairman of Marsh IAS Bermuda and Lawrence Bird as head of office in Bermuda. Husbands succeeds David Ezekiel who retired on Dec. 31, 2015. Husbands will focus on strategic growth...
Carpenter Promotes Stubbings as CEO of Bermuda Unit; Keegan Named Sr. VP
Apr 25 2016 // Guy Carpenter & Co. has promoted Peter Stubbings as CEO of the firm’s Bermuda operations, with immediate effect. In addition, Richard Keegan will join the Bermuda team as senior vice president in May. Previously...
White Mountains Closes $2.6B Sale of Sirius to China Minsheng Investment
Apr 19 2016 // White Mountains Insurance Group Ltd. completed its $2.6 billion sale of Sirius International Insurance Group to a division of China Minsheng Investment Corp. Ltd., nine months after the deal was first announced.Out of that...
Plenum Launches Diversified ILS Fund, Partnering with Bermuda’s Sequant Re
Apr 11 2016 // Plenum Investments Ltd. has launched an insurance linked securities (ILS) fund, which will invest in collateralized reinsurance transactions, to be sourced and underwritten by Bermuda’s boutique reinsurer Sequant...
Antares Lloyd’s Syndicate Partners with Iron-Starr, Ironshore’s Bermuda MGA
Apr 7 2016 // Ironshore Inc. announced that Antares Syndicate 1274 at Lloyd’s will join as a subscribing insurer for Bermuda-based Iron-Starr Excess Agency Ltd. Iron-Starr is a managing general agency (MGA), which underwrites...
Bermuda-Based Artex Buys Hexagon Insurance PCC, to Boost ILS Capability
Mar 30 2016 // Artex Risk Solutions announced it has entered into a definitive agreement to acquire the cores of Guernsey-domiciled Hexagon Insurance PCC Ltd. and its subsidiaries. All regulatory approvals have been received and the deal...
Fidelis Insurance Promotes Savill to Group Chief Underwriting Officer
Mar 24 2016 // Fidelis Insurance announced that Ben Savill has been promoted to group chief underwriting officer, subject to approval from the Bermuda Department of Immigration. He assumes this role from Richard Brindle who held it...
Arthur J. Gallagher to Buy Kane Group’s Insurance Management Operations
Mar 22 2016 // Itasca, Ill.-headquartered Arthur J. Gallagher & Co. announced it has reached an agreement with Kane Group to acquire its insurance management operations (KIM). This acquisition is expected to close on or about March...
Chubb Names Leadership Team for Insurance Operations in Bermuda
Mar 18 2016 // Chubb Ltd. has named the leadership team for its insurance operations in Bermuda, effective immediately. On Jan. 14, 2016, ACE completed its acquisition of Chubb. ACE Bermuda is expected to become Chubb Bermuda in the...
Chubb Announces Retirement of Fletcher, Chairman of Bermuda Insurance Unit
Mar 14 2016 // Chubb announced that Rees Fletcher, chairman of its Bermuda-based insurance operations, will retire on March 31 2016, bringing to a close a distinguished 27-year career with the company. ACE completed its acquisition of...
Hedge Funds Leery of Moves to Limit U.S. Reinsurance Tax Break
Mar 3 2016 // Dan Loeb’s reinsurer cited risks tied to regulation as the Internal Revenue Service and U.S. Senator Ron Wyden work to limit what the lawmaker called a “tax loophole” used by hedge fund managers to route...
XL Group Proposes Moving Domicile to Bermuda from Ireland
Feb 29 2016 // XL Group plc announced a proposal to change its parent holding company’s place of incorporation to Bermuda from Ireland. “Establishing our corporate home in Bermuda is a natural step for XL. XL has had a...
Hamilton Re Hires Davis to Lead Entry into Property Direct & Facultative
Feb 29 2016 // Hamilton Re, the reinsurance operations of Hamilton Insurance Group, announced that Gavin Davis has joined the Bermuda-based company as senior vice president, head of Property Insurance, Bermuda. Davis will be instrumental...
