Axa XL's Bermuda professional lines business has launched a new wage and hour policy with a full range of indemnity and defense coverage to help mid-sized employers – those with a maximum of 10,000 employees – respond to claims by plaintiffs, class actions, and mass arbitration.

The US Court of Appeals for the Ninth Circuit has upheld an earlier decision by a California district court to dismiss Newpoint Financial Corp’s complaint against the Bermuda Monetary Authority and two of its employees on the grounds of sovereign immunity and lack of personal jurisdiction, respectively.

Ark Insurance Holdings has renewed its P&C-focused Outrigger Re sidecar with $230mn of total investor backing for 2025, of which $150mn has been provided by the (re)insurer’s parent White Mountains.

SiriusPoint has entered an agreement to repurchase all of its common shares and warrants held by CMIG subsidiary CM Bermuda – the former owner of Sirius – for $733mn.

Bermuda-based holding company Maiden Holdings has entered into a combination agreement with Kestrel Group to form a new publicly listed specialty program group.

Bermuda’s P&C (re)insurance industry improved its resilience in 2023 thanks to price improvements, tightening terms and conditions, limit and aggregation management and favourable investment returns, according to a report by the Bermuda Monetary Authority.

Allianz has launched Sconset Re, a new Bermuda-based reinsurance sidecar designed to cover its US life and annuity insurance operations.

Aspen Insurance Holdings Limited has filed an F-1 prospectus for a potential New York IPO, which follows the Bermuda-based (re)insurer making a similar move around this time last year as it continues to leave its options open for a public listing.

AM Best has affirmed Brit Re's financial strength rating of A (Excellent) and long-term issuer credit rating of “a” (Excellent).

Mike Karmilowicz, chairman of Everest Global Insurance, has announced his resignation, according to an SEC filing.