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Aeolus, Ariel & Fortitude join ABIR

The Association of Bermuda Insurers and Reinsurers (ABIR) has announced new members for 2021 coming from across the spectrum of reinsurance and third-party capital or ILS fund management. Among those joining the organisation for 2021 are well-established reinsurance and retrocessional investment fund manager Aeolus Capital Management Ltd. Aeolus, led by Chief Executive read the full article →

Bermuda at forefront of global reinsurance capital raising: Wightman, PwC

The Bermuda market is intrinsically involved in much of the successful capital raising going on in the global reinsurance sector, with the Class of 2020 well on the way to establishing itself, Arthur Wightman, PwC Territory and Insurance leader has said. With the COVID-19 pandemic ongoing, the global insurance, reinsurance and read the full article →

Chaucer launches Bermuda branch with U.S. reinsurance focus

International specialty insurance and reinsurance group Chaucer plc has launched a U.S. reinsurance focused underwriting operation in Bermuda, from where it expects to write quota share and excess of loss business across property, casualty and specialty lines. Chaucer's new reinsurance branch in Bermuda has been launched following the receipt of regulatory read the full article →

Hurricane Paulette to strike Bermuda this morning

Bermuda faces its first significant hurricane threat in the shape of hurricane Paulette which is expected to strike this morning and could see its eyewall affecting the island for a number of hours. Based on the forecasts Bermuda had been expecting to see hurricane force winds as hurricane Paulette passed nearby, read the full article →

Artemis Bermuda ILS Executive Roundtable 2020

Welcome to Artemis’ fifth Bermuda-focused ILS executive roundtable, which owing to restrictions caused by the ongoing Covid-19 pandemic was held virtually. In response to the global spread of the novel coronavirus, Bermuda, like much of the world, entered into an unprecedented period of lockdown as its government enforced restrictions aimed to read the full article →

Pandemic-induced market dynamics could result in Class of 2020: Brad Adderley, Appleby

Current insurance and reinsurance market dynamics suggest that it could be an opportune time for startups to enter the property/casualty market, according to Brad Adderley, Partner at Appleby, Bermuda. As the ongoing Covid-19 pandemic continues to alter the global economic outlook and influence the dynamics of the risk transfer space, there read the full article →

BMA responds to coronavirus: allows later filings, virtual board meetings

The Bermuda Monetary Authority (BMA) is making allowances for insurance, reinsurance and insurance-linked securities (ILS) company filings to be a little later and for physical board meetings on the island to not be required, in response to the Covid-19 coronavirus outbreak. The financial market regulator for Bermuda, the BMA activated a read the full article →

Bermuda SPI registrations fall in 2019, but ILS licensing activity still strong

The number of special purpose insurers (SPI's) registered in Bermuda fell in 2019, in-line with activity in the insurance-linked securities (ILS) sector. But overall new licenses for ILS related vehicles remained very strong. Despite the slight dip in SPI's, the registration of insurance-linked securities (ILS) and catastrophe bond related vehicles continues read the full article →

Resilience bond approach plausible via Ocean Risk Index: AXA XL’s MacFarlane

As AXA XL continues to support and develop the Ocean Risk Index, Andrew MacFarlane, Managing Director and Head of Pricing & Analytics for London & Bermuda, Reinsurance, explores the thinking behind the initiative and more specifically its use as a risk transfer tool, including the potential for a catastrophe bond read the full article →

Guy Carp adds senior Aon hires in Bermuda, strengthens leadership on island

Guy Carpenter, the reinsurance broking arm of Marsh & McLennan, has announced two senior hires in Bermuda who join the firm from rival Aon, as well as a number of changes to the leadership structure of its island broking operations. Guy Carpenter has hired Robert Johnston and Peter Komposch of Aon's read the full article →