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AXA XL Re gets Kiernan from Allianz ART as Head of US Property, Bermuda Reinsurance

AXA XL Re, the global reinsurance arm of the AXA insurance group, has announced the hiring of Peter Kiernan from Allianz Risk Transfer (ART) who joins the company as its new Head of US Property, Bermuda Reinsurance. Kiernan takes over from Simon Penney, who is relocating to London to take up read the full article →

Bermuda ESG journey progressing, but trails on protection gap: Report

While the overall Bermudian reinsurance and insurance-linked securities (ILS) market is still in the early stages of its environmental, social and governance (ESG) journey but making steady progress, there is work to do on protection gap related issues, as the Bermuda market lags behind competitors, a new report suggests. This rather read the full article →

BMA promotes Ricardo Garcia to Managing Director

The Bermuda Monetary Authority (BMA), the financial regulator for one of the world’s most important insurance and reinsurance markets, has announced the promotion of its Chief Actuary, Ricardo Garcia, to the role of Managing Director. Garcia has worked at the BMA for more almost a decade and in his latest role read the full article →

AUB Group acquiring Tysers, gains Lloyd’s, reinsurance, some ILS expertise

AUB Group, an Australian listed financial services group comprised of insurance brokers and underwriting agencies, is to acquire near 200 year old insurance and reinsurance broking group Tysers, gaining wholesale Lloyd's, reinsurance and some insurance-linked securities (ILS) expertise. AUB Group had recently explained its ambitions to expand internationally beyond its Australia read the full article →

BMA hands Shanna Lespere Deputy CEO role

The Bermuda Monetary Authority (BMA), the financial regulator for one of the world’s most important insurance and reinsurance markets, has named Shanna Lespere as its new permanent Deputy Chief Executive Officer (CEO). Effective immediately, Lespere takes on the Deputy CEO role from her previous position as Chief Operations Officer at the read the full article →

Bermuda SPI’s and collateralized insurers reminded on Russia-Ukraine

The Bermuda Monetary Authority (BMA) has issued a call for insurance-linked securities (ILS) vehicles domiciled on the island to adhere to international sanctions related to the ongoing conflict between Russia and Ukraine and to disclose any relevant information or impact related to it as it continues. With international sanctions being layered read the full article →

Re/insurance & ILS a “bright light” in Bermuda’s economy: Wightman, PwC

The insurance, reinsurance and insurance-linked securities (ILS) sector has been a "bright light" in Bermuda's economy, even through the challenging economic environment of the pandemic, according to Arthur Wightman, Territory leader, PwC Bermuda. Discussing the findings of PwC's latest Global CEO Survey, Wightman noted the importance of the re/insurance and ILS read the full article →

Bermuda SPI & ILS registrations remain strong in 2021

The number of new special purpose insurer (SPI) vehicles registered in Bermuda fell slightly in 2021 after a record previous year, but overall new licenses for insurance-linked securities (ILS) related vehicles remained very strong on the island. With record catastrophe bond issuance in 2021 it is no surprise Bermuda saw a read the full article →

Sustained advancement in Bermuda’s ILS sector: Louise Charleson, Ocorian

The ILS sector has seen an increased focus on the importance of having a suitable board of directors in place for Special Purpose Insurers (SPI), according to Louise Charleson of Ocorian. “The global impact of Covid-19 has caused several cross-border supply chain disruptions, fluctuating industry and country risk factors, and excessive read the full article →

Lockton Re’s retro practice boosted by Simon Moore & James Boon

Lockton Re's non-Marine retrocession and property specialty reinsurance broking division has expanded in recent days with the joining of former CATCo CUO Simon Moore and Aon broker James Boon. The additions are timely with the approaching January 2022 renewals expected to see a retrocession market that has dented capacity available and read the full article →