Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Run-Off Venture Targets Florida Auto Insurer Peachtree Casualty for First Acquisition
Aug 22 2018 // International insurance and reinsurance company DARAG and U.S.-based acquisition specialist SOBC have formed a joint venture with SOBC DARAG in Delaware to support DARAG’s expansion into the U.S. and...
What’s Ahead for Reinsurance Industry in 2018: Fitch
Jun 27 2018 // The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits...
XL Catlin Names Smyth, Greavesas to Global Excess Casualty Posts
Jun 6 2018 // XL Catlin insurance operations named Donnacha Smyth as president and Carla Greavesas as chief underwriting officer of Global Excess Casualty. Smyth, who will be based in Dublin, will start his new role in September. He...
TigerRisk Creates Capital Markets Vehicle Panthera Re in Bermuda
May 24 2018 // TigerRisk Capital Markets & Advisory has formed a new Bermuda facility named Panthera Re to provide its insurance and reinsurance company clients with access to capital markets. With third-party capital from...
Munich Re Repurposes Bermuda Operation
May 14 2018 // Munch Reinsurance Co. has repurposed a Bermuda unit that was authorized for property/casualty business into a reinsurer for its U.S. life reinsurance business. The unit, Munich Re Bermuda, was formerly named Princeton...
Blockchain Innovators Follow Reinsurers to Bermuda ‘Sandbox’
May 7 2018 // It was the last day of the World Economic Forum in Davos and Wayne Caines, Bermuda’s minister of national security, was about to head home after an exhausting week. But before leaving, he told a group of blockchain...
Guy Carpenter Promotes Fletcher to Bermuda Chairman; Hires Aon’s Morris
May 1 2018 // Reinsurance specialist Guy Carpenter & Co. announced the promotion of John Fletcher to chairman of the firm’s Bermuda operations. The firm also appointed a former Aon Bermuda executive to its Bermuda team. In his...
Markel Revamps Excess Casualty Leadership Team
Apr 16 2018 // Markel Corp. has reorganized the leadership structure of its excess casualty team, the underwriting unit with teams in the U.S., Bermuda, Dublin and London. Matt Mullen and Colin Shaw, both managing directors, Casualty,...
Bermuda Monetary Authority Sees Increase in Re/Insurance Registrations in 2018
Apr 3 2018 // The Bermuda Monetary Authority (BMA) has experienced a recent uptick in re/insurance registrations. Registrations for the first two months of 2018 include 11 re/insurers and one intermediary. These re/insurers include...
Aon Benfield Bermuda Hires Carpenter’s Meyenhofer as CEO; Fox & Davies Promoted
Mar 22 2018 // Aon Benfield announced a new hire and expanded roles for its reinsurance team in Bermuda. Matthias Meyenhofer will join the firm on Sept. 1, in accordance with his existing contractual requirements, as chief executive...
Iron-Starr Excess Agency Increases Capacity for Property Risks
Mar 7 2018 // Iron-Starr Excess Agency Ltd. (Iron-Starr), an excess specialty insurance lines managing general underwriting agency operated by Ironshore, has expanded its relationship with Oil Casualty Insurance Ltd. (OCIL) to...
Aspen Ceases Underwriting Property Insurance from Bermuda Platform
Feb 16 2018 // Aspen Insurance Holdings confirmed on Friday, Feb. 16 that it has ceased underwriting property insurance on its Bermuda platform, effective immediately, as a result of the company’s 2017 catastrophe losses. The move...
Brit Expands Capacity for Bermuda Sidecar Versutus & Lloyd’s Syndicate 2988
Feb 15 2018 // London-based Brit Ltd. has renewed and expanded the collateralized reinsurance capacity provided by its Bermuda domiciled sidecar, Versutus Ltd., in support of Brit’s property catastrophe portfolio for 2018. Marking...
From Bermuda to Switzerland, Reinsurers Lure Variety of Potential Investors
Feb 9 2018 // The $500 billion reinsurance industry is experiencing a flurry of deal talks. One reason: Companies are finally for sale as a rash of natural disasters has depressed valuations and a influx of competitors has made it...
XL Group Attracts Interest from Allianz, Other Rivals as Potential Buyers
Feb 7 2018 // Bermuda-based insurer XL Group Ltd. is attracting interest from rivals including Allianz SE of Germany, according to people with knowledge of the matter. Interest from insurers in potentially acquiring XL, which had a...
Bermuda’s Re/Insurance Model to Be Tested Following U.S. Tax Reforms: Fitch
Feb 5 2018 // The Bermuda re/insurance model will be tested following U.S. tax reforms and the continuing challenges of competitive market conditions, according to a report by Fitch Ratings. The cut in the U.S. corporate tax rate to 21...
Bermuda’s Re/Insurance Model to Be Tested Following U.S. Tax Cuts: Fitch
Jan 26 2018 // The Bermuda re/insurance model will be tested following U.S. tax forms and the continuing challenges of competitive market conditions, according to a report by Fitch Ratings. The cut in the U.S. corporate tax rate to 21...
AIG to Buy Bermuda Reinsurer Validus for $5.6B in Cash, Reversing Retrenchment
Jan 22 2018 // Eight months after Chief Executive Officer Brian Duperreault took over and began to undo his predecessor’s retrenchment strategy, the company announced a $5.56 billion, all-cash deal to purchase Bermuda reinsurer...
RenaissanceRe to Buy Minority Stake in Run-Off Firm Catalina Holdings
Jan 19 2018 // RenaissanceRe will pick up a minority stake in Catalina Holdings (Bermuda) Ltd., a long-term manager of legacy runoff P/C insurance and reinsurance businesses. Neither side is disclosing financial terms. RenaissanceRe will...
MS Amlin Creates Bermuda-Based Reinsurance Sidecar, Viribus Re
Jan 8 2018 // MS Amlin, the London-based specialist re/insurer, announced that a Bermuda-domiciled special purpose reinsurer, Viribus Re Ltd., has been created to provide collateralized capacity support for MS Amlin Syndicate...
