Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
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...
Armour Raises $500 Million to Create Bermuda Reinsurer, Armour Group Ltd.
Jan 4 2018 // Armour, a Bermuda-based P/C run-off insurance business, announced it has raised up to $500 million to form a reinsurance group called Armour Group Ltd. The equity commitments were made in partnership with an investor group...
What They Are Saying About Effects of Trump Tax Cuts on Insurance Industry
Dec 22 2017 // Congress has passed and President Donald Trump has signed the Tax Cuts and Jobs Act (HR1) into law. It is the biggest tax change in 30 years. Under the legislation, insurers, agencies and other businesses organized as C...
Factbox: Growing List of Insurers Make Brexit Plans for EU Subsidiaries
Dec 20 2017 // Below are insurers’ plans for EU subsidiaries (in alphabetical order) in case Britain does not have access to the single market after Brexit: ADMIRAL. British motor insurer Admiral Group said last year that it could...
Factbox: More Insurers Make Decisions About Post-Brexit Headquarters
Dec 13 2017 // Liberty Specialty Markets said it planned to redomicile its UK insurance company to Luxembourg, as a result of Britain’s decision to leave the European Union. Below are insurers’ plans for EU subsidiaries (in...
Brit Launches Bermuda-Based Collateralized Reinsurer Sussex Capital
Dec 13 2017 // Brit Ltd., the London-based specialty insurer and reinsurer, has launched a Bermuda-domiciled collateralized reinsurance platform, Sussex Capital. Sussex Capital, through Sussex Re, a newly established Bermuda-domiciled...
Brit Ltd. to Relocate Gibraltar-Based Reinsurer to Bermuda
Dec 8 2017 // Brit Ltd. announced it is relocating its Gibraltar-based reinsurer, Brit Insurance (Gibraltar) PCC Ltd., to Bermuda. The process is expected to be completed by the end of the year, following which Brit Insurance...
Ex-NAIC Head Huff Succeeds Kading at Association of Bermuda Insurers & Reinsurers
Dec 5 2017 // An ex-chief insurance regulator for Missouri will take over the Association of Bermuda Insurers and Reinsurers starting in January 2018. John Huff, the immediate past president of the National Association of Insurance...
Ascot Group Launches Bermuda Reinsurer; Berger Appointed CEO
Nov 27 2017 // Ascot Group Ltd. has launched Ascot Reinsurance Co. Ltd., after receiving approval from the Bermuda Monetary Authority (BMA). Ascot Re has received an additional injection of $1 billion of funds and has been given an...
Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters
Nov 21 2017 // Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are...
Lockton Taps Davies from JLT as SVP, Property, in Bermuda
Nov 3 2017 // Lockton, the world’s largest privately held insurance broker, has appointed Gareth Davies as senior vice president, Property, in Bermuda. He will focus on growing the business, particularly in the property area, in a...
GOP Tax Plan Jeopardizes Bermuda Reinsurer Loophole
Nov 3 2017 // U.S. money managers with reinsurance companies in Bermuda and the Cayman Islands could lose a valuable loophole under Republican proposals to overhaul the tax code unveiled on Thursday. The plan includes a 20 percent...
Ironshore’s New Iron-Excess MGA Is Based on Iron-Starr Excess Agency Model
Sep 26 2017 // Using a Bermuda joint venture between Ironshore and C.V. Starr & Co. as a model, Ironshore announced the launch of Iron-Excess on Monday. Ironshore, a Liberty Mutual company, describes Iron-Excess as an expansion of...
Papadopoulo to Succeed McElroy as CEO of Arch Worldwide Group; Rajeh Moves to CEO Worldwide Reinsurance
Sep 20 2017 // Arch Capital Group Ltd. announced that Nicolas Papadopoulo will become chairman and CEO of Arch Worldwide Insurance Group and chief underwriting pfficer for Property & Casualty operations. Papadopoulo, who joined Arch...
Sciemus Partners with HSCM Bermuda and Is Renamed Argon Underwriting
Sep 13 2017 // Sciemus, a specialty Lloyd’s MGA, is forming an investing partnership with HSCM Bermuda, a firm that invests in reinsurance and insurance-linked assets across all lines of business. The deal also calls for Sciemus to...
How ‘Bermuda High’ Threw Irma and Damage Estimates Off Course
Sep 12 2017 // Twenty miles may have made a $150 billion difference. Estimates for the damage Hurricane Irma would inflict on Florida kept mounting as it made its devastating sweep across the Caribbean. It was poised to be the costliest...
JLT Re Taps Bardon as Bermuda Partner, Working with Industry Loss Warranty Team
Aug 21 2017 // JLT Re, the London-based reinsurance broker and consultancy, has appointed Nicolas Bardon as a partner in JLT Re’s Bermuda operation reporting to Guy Hengesbaugh. Bardon will work closely with Gary Reynolds and...
JLT Re Appoints Chubb’s Williams as Partner in Bermuda Operation
Jun 23 2017 // JLT Re, the global provider of reinsurance broking and consultancy, has appointed Deanna Williams as a partner in JLT Re’s Bermuda operation. She will report to Charles Withers-Clarke, partner, JLT Re in Bermuda, who...
Hamilton Announces New Responsibilities for 2 Execs in Bermuda Business
Jun 20 2017 // Hamilton Insurance Group, the Bermuda-based holding company for insurance and reinsurance operations in Bermuda, the U.S. and at Lloyd’s, has announced two senior role changes in its Bermuda operations. Keith...
Bermuda Can Withstand Trump’s U.S. Tax Plans, Says Premier Dunkley
May 24 2017 // Bermuda Premier Michael Dunkley said the nation will be able to attract businesses even as U.S. President Donald Trump plans to reduce tax rates to help keep companies onshore. “One of the things that I find very...
