Bermuda news

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance, insurtech and transportation- focused investment manager, is supporting mentorship and leadership development opportunities for young Bermudians through a new partnership.

As the insurance-linked securities (ILS) pie continues to expand it’s natural for new jurisdictions to emerge and try to take a slice, but the innovative Bermuda marketplace is expected to maintain its leadership position, according to Ross Webber, Managing Director at independent financial services provider and fund administrator, Apex Group Ltd.

Bermuda’s reinsurance sector was hit by more catastrophe losses than costs from the COVID-19 pandemic in 2020, according to data from Fitch Ratings.

The response of Bermuda, and the broader, insurance-linked securities (ILS) asset class to the global pandemic was reassuring, and as the market moves further into 2021, a flight to simplicity is expected to take hold, according to Ross Webber, Managing Director at independent financial services provider and fund administrator, Apex Group Ltd.

Lockton Re, the reinsurance business of the privately held independent global broking firm, has hired Simon Moore, the former Chief Underwriting Officer of CATCo, as a Senior Broker within its Non-Marine Retrocession & Property Specialty team in London.

Lockton Re, the reinsurance business of the privately held independent global broking firm, has announced a key hire in Bermuda, taking Thomas Parcell from Aon as its new Chief Broking Officer on the island.

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.

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.

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.

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.