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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 →

Appleby names Brad Adderley as Office Managing Partner in Bermuda

Appleby, the specialist offshore law firm and fiduciary services provider, has announced that Brad Adderley will take over from Tim Faries as Office Managing Partner in Bermuda, effective January 1st, 2022. In addition, Adderley will head Appleby's Corporate practice in Bermuda and the company's insurance and reinsurance sector globally, positions held read the full article →

Global minimum tax may reduce Bermuda’s competitive advantage: Fitch

The net profitability gap between Bermuda and non-Bermuda incorporated companies may narrow over time given the expected passage of the OECD-driven multilateral agreement to establish a 15% global minimum tax rate, according to Fitch Ratings. The rating agency warns that this will erode Bermuda's competitive tax advantage at the margin, perhaps read the full article →

Bermuda has opportunity to lead the way on ILS ESG: Roundtable

As momentum continues to accelerate around responsible and sustainable investing, Bermuda’s standing in the global insurance-linked securities (ILS) sector means it’s well placed to capitalise on the growing base of environmental, social and governance (ESG) focused investors, say industry experts. We recently published our sixth Bermuda ILS Executive Roundtable, held virtually read the full article →

BMA seeks more seamless marketplace with ILS process enhancements: Brad Adderley, Appleby

Recent changes made by the Bermuda Monetary Authority (BMA) to improve processes specific for catastrophe and mortgage bonds, shows that the island is listening to its clients and being more adaptive in the face of growing competition, according to Brad Adderley, Partner at global law firm Appleby. The BMA, the financial read the full article →

Bermuda speeds up cat bond SPI registration to just three days

Catastrophe bond sponsors looking to locate their issuance structures in Bermuda can now benefit from much faster licensing and registration of new cat bond vehicles, with the process streamlined to take just three working days by the regulator. The Bermuda Monetary Authority (BMA) said today that a new faster catastrophe bond read the full article →

Artemis Bermuda ILS Executive Roundtable 2021

Welcome to Artemis’ sixth Bermuda-focused insurance-linked securities (ILS) executive roundtable, held virtually for the second year in a row owing to ongoing pandemic-related restrictions. Despite the impacts of the Covid-19 pandemic and subsequent restrictions on travel and face-to-face meetings, Bermuda attracted a significant amount of startup capital in 2020, ahead of read the full article →

Africa Specialty Risks choose Bermuda for rated reinsurance platform

Africa Specialty Risks, a pan-African focused reinsurance group, has announced that it will launch a licensed and eventually rated reinsurance company and has chosen Bermuda as the location for the operation. Africa Specialty Risks has been expanding of late, with one notable addition being its launch of a dedicated specialist parametric read the full article →

BMS Re hires Mullan to lead new Bermuda reinsurance operation

BMS Re, the reinsurance arm of broking group BMS, has announced the launch of its first official Bermuda office and the hiring of former Alterra executive Adam Mullan to lead the office. The launch of BMS Re in Bermuda is the latest step in BMS' expansion of its global reinsurance broking read the full article →

BMA names Craig Swan CEO, as Jeremy Cox to depart

The Bermuda Monetary Authority (BMA), the financial regulator for one of the world's most important insurance and reinsurance markets, has announced a change at the top, as its current Deputy CEO Craig Swan will take over the CEO role from October 1st, with current CEO and Executive Chairman Jeremy Cox read the full article →