Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Specialty Re/insurer Chaucer Launches Bermuda Reinsurance Branch for U.S. Business
Nov 16 2020 // Chaucer, the London-based specialty re/insurance group, announced the launch of a reinsurance branch in Bermuda to provide U.S. clients with greater access to its underwriting expertise and capacity. This follows the...
Hurricane Epsilon Bypasses Bermuda and Heads into North Atlantic
Oct 23 2020 // Bermuda has been spared the worst of Hurricane Epsilon, which passed 200 miles to the east of the island and is heading , according to a report from Weather Underground. However, Epsilon’s large size, at times,...
Hurricane Epsilon, 10th of Season, Expected to Approach Bermuda Tonight
Oct 22 2020 // Hurricane Epsilon, the 10th of this very busy Atlantic season, was moving toward Bermuda on Wednesday. Epsilon is expected to make its closest approach to the island on Thursday night, and there is a risk of a direct...
Hiscox Appoints Former Hamilton Executive Reardon as CEO of Hiscox Re & ILS
Oct 21 2020 // Hiscox Ltd., the international specialist insurer, announced the appointment of Kathleen Reardon as CEO of Hiscox Re & ILS, subject to regulatory approval. Reardon succeeds Mike Krefta, who, as announced in August,...
Tropical Storm Epsilon Grows in Strength as It Heads Toward Bermuda
Oct 20 2020 // Tropical Storm Epsilon has formed in the central Atlantic and will move northwest, probably growing into a hurricane as it nears Bermuda late this week. Epsilon’s winds have reached 40 miles (64 kilometers) per hour...
Formation of More ‘Class of 2020’ Reinsurers Unlikely
Sep 25 2020 // The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was...
What Ever Happened to Hedge Fund Reinsurers?
Sep 25 2020 // The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of...
What to Expect in 2021: Reinsurance Market Moving From ‘Timid’ to ‘Hard’
Sep 18 2020 // Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a...
Paskin Named CEO of Convex Re, Bermuda; Butt Named CEO of Convex Insurance UK
Sep 18 2020 // Convex Group Ltd., the specialty insurer and reinsurer, announce that Matt Paskin has been appointed as CEO of Convex Re Ltd. (Bermuda) and Theo Butt has been appointed as CEO of Convex Insurance UK Ltd. (London). These...
Arcadian Risk Starts New Underwriter in Bermuda With Third Point Re Backing
Sep 17 2020 // Arcadian Risk Capital is launching as a new underwriting operation based in Bermuda that will initially underwrite excess casualty and professional lines insurance. Arcadian said it has received its license from the...
Meteorologists Tracking Potential Storm Threats Across Atlantic
Sep 11 2020 // While a tropical storm approaches Bermuda, the threat of more powerful systems is expanding across the Atlantic, from the Gulf of Mexico to Africa. Tropical Storm Paulette probably will become a hurricane on Sept. 13 as it...
Fitch’s Reinsurance Outlook Remains Negative, Despite Entry into Hard Market Phase
Sep 11 2020 // Fitch Ratings said yesterday its ratings outlook for companies in the global reinsurance sector will continue to remain negative as a result of hefty coronavirus claims and low interest rates. The good news for companies,...
Total Return Reinsurers Underperform Traditional Bermuda Reinsurers: AM Best
Aug 31 2020 // Although total return reinsurers, which like to take more risk on the investment side of their balance sheets than other reinsurers, have the potential to generate significantly higher investment returns than traditional...
Third Point Re and Sirius Group Agree to Merger in Deal Worth $788M
Aug 7 2020 // Third Point Reinsurance and Sirius International Insurance Group, a global multi-line insurer and reinsurer, announced they have entered into a definitive agreement for Third Point Re and Sirius Group to combine in a cash...
AM Best Reviews Credit Ratings of Enstar’s StarStone After Announced Capital Raise
Jun 15 2020 // AM Best has placed under review with negative implications the credit ratings of StarStone Insurance Bermuda and its subsidiaries as a result of the recent announcement by parent company, Enstar Group Ltd., that it was...
Cryptoasset Insurer Evertas Receives License to Operate in Bermuda
Jun 10 2020 // Cryptoasset insurer Evertas has received a license from the Bermuda Monetary Authority to start operating from the jurisdiction. Evertas’ operations in Bermuda will now aim to start issuing policies for theft or loss...
Ed Broking Launches E-Trading Platform Called ‘TradEd’ in Bermuda
May 18 2020 // Ed Broking, the London-based reinsurance, wholesale and specialty broker, announced the external launch of its TradEd portals for carriers and clients in Bermuda. TradEd, the e-trading platform that is used in-house by BGC...
Hong Kong-Based Peak Re to Acquire Bermuda ILS Asset Manager Lutece
Apr 8 2020 // Peak Reinsurance Co. Ltd. has entered into definitive agreements to acquire 100% of the capital of Lutece Holdings Ltd. and its subsidiary Lutece Investment Management Ltd., a Bermuda-based insurance linked securities...
Legacy Specialist Catalina Holdings Completes Purchase of Asia Capital Reinsurance
Mar 31 2020 // Catalina Holdings (Bermuda) Ltd., the legacy re/insurance acquisition specialist, announced it has completed the acquisition of Asia Capital Reinsurance Group Pte. Ltd. (ACR), a Singapore-headquartered reinsurance...
Sirius International Launches Formal Process to Find a Buyer
Mar 30 2020 // Sirius International Insurance Group, Ltd. (Sirius Group) announced it has launched a formal process to sell the company after a strategic review. The company said it has approved the launch of a sales process, after...
