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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 →

AXA XL wants to create tradable Ocean Risk Index

AXA XL, the global specialty insurance and reinsurance unit of the AXA Group, continues to work on initiatives related to climate risk and our oceans, with one area of work being pursued an Ocean Risk Index that could be used for risk transfer. AXA XL has been involved in a range read the full article →

ILS integral to the business, brings capital to big problems: RenRe CEO O’Donnell

Insurance-linked securities (ILS) are integral to the business of insurance and reinsurance and an ideal solution for bringing capital to the big problems facing society, according to RenaissanceRe CEO Kevin O'Donnell. Giving a keynote speech at the ILS Bermuda Convergence 2019 conference today, the CEO of Bermuda headquartered global reinsurance firm read the full article →

ILS plays vital role, convergence continues apace: ILS Bermuda speakers

The insurance-linked securities (ILS) market plays an increasingly important role in supporting global insurance and reinsurance protection, while at the same time the convergence of ILS with traditional market structures continues apace. Introducing today's ILS Bermuda Convergence 2019 conference held in Hamilton, speakers discussed the key role of ILS in the read the full article →