Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Willis Re Appoints Kent as Global Deputy CEO
Nov 29 2016 // Willis Re, the reinsurance business of Willis Towers Watson, announced the promotion of James Kent – co-president of Willis Re and President of Willis Re North America – to the position of Global Deputy CEO, Willis Re,...
Reinsurers Welcome Rate Stabilization: S&P-PwC Bermuda Reinsurance Forum
Nov 18 2016 // North American reinsurers may soon see some rate stabilization after a prolonged period of declining premium rates, as they deal with a supply-demand imbalance that has weighed on returns, according to executives at the...
Neon Bermuda Taps Chubb’s Hunt to Become SVP, Property Insurance
Oct 24 2016 // Neon announced it has appointed Dwayne Hunt to the role of senior vice president – Property Insurance, in Neon’s Bermuda office. Neon said it opened a Bermuda office earlier this year to provide greater access...
Bermuda-Based Somerset Re Raises Capitalization to $375 Million
Oct 21 2016 // Somerset Reinsurance Ltd. has increased its common share capitalization to $375 million, including investments from three strategic investors and a diverse group of high net worth investors. Somerset Re provides customized...
Hurricane Nicole Weakens After Direct Bermuda Hit; Storm Trackers Comment
Oct 14 2016 // Hurricane Nicole made a direct hit on Bermuda Thursday as the strongest hurricane to affect the Atlantic archipelago in 13 years, according to a report issued by Weather Underground. The storm’s impact on Bermuda has...
Category 4 Hurricane Nicole Lashes Bermuda with Winds & Flooding Rain
Oct 13 2016 // Hurricane Nicole, which has become a Category 4 hurricane, will continue to lash Bermuda with winds and flooding rain through Thursday, according to a report issued by AccuWeather. As a Category 4 hurricane with sustained...
AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties
Sep 16 2016 // American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board...
Allied World Bermuda Appoints Chow as Senior VP, Professional Lines
Aug 26 2016 // Allied World Assurance Company Holdings announced that Dale Chow has been appointed to senior vice president, Professional Lines, for Allied World Bermuda. In this role, Chow will be responsible for the strategic...
Willis Re Taps Aon’s McDowell to Lead Bermuda Unit; Harden as APAC President
Aug 23 2016 // Willis Re announced the appointment of Chris McDowell as CEO of Willis Re Bermuda. Effective Jan. 1, 2017, he will succeed Michael Harden, CEO of Willis Re Bermuda since 2014, who is returning to the Asia Pacific region as...
XL Group Completes Relocation of Domicile to Bermuda
Jul 27 2016 // XL Group Ltd. announced it has completed its redomestication to change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland. As previously announced, the name of the new holding company...
Correction: Catalina to Buy Hartford Financial Products International & Downlands Liability Management
Jul 27 2016 // (Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International &...
Catalina to Buy Hartford Financial Products International & Downlands Liability Management
Jul 26 2016 // (Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International &...
Randall & Quilter Buys Bermuda-Based Segregated Accounts Captive Company
Jul 18 2016 // Randall & Quilter Investment Holdings Ltd. has acquired Agency Program Insurance Co. (SAC) Ltd., a Bermuda-based segregated accounts captive company with 28 cells. London-based Randall & Quilter (R&Q) is paying...
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....
