Aspen chairman and CEO Mark Cloutier has been named the incoming chair of the Association of Bermuda Insurers and Reinsurers, effective 1 January 2025, The Insurer understands.

AM Best has revised the outlook from stable to positive on the A financial strength rating and 'a' long-term issuer credit rating of Group Ark Insurance Limited (GAIL), pointing to the (re)insurer’s “effective cross-cycle underwriting management” and sub-90 combined ratio over time.

Oak Group has secured backing from Bain Capital and will commence underwriting this week with a planned expansion into Bermuda and the US on the horizon in addition to its start-up Lloyd’s syndicate, The Insurer understands.

Brit’s Bermuda platform Brit Re is set to expand into specialty treaty and casualty treaty in 2025 with ~$50mn first-year gross written premium (GWP) targets for each line,

Aspen Insurance Holdings reported Q3 operating income that grew 10 percent to $86.5mn and a 20 basis point (bps) improvement in its adjusted combined ratio to 91.5 percent, as it also estimated Hurricane Milton will generate $40mn to $60mn of claims, net of reinsurance and reinstatement premiums.

Industry luminary Stephen Catlin has warned that some (re)insurance companies have a residual liability problem that could take up to a decade for them to shake out.

Fidelis Insurance Group’s third quarter underwriting gain grew by 7 percent to $80mn, powered by a 24 percent surge in net earned premiums, as higher catastrophe losses and lower favourable reserve development pushed its combined ratio up 200 basis points (bps) to 87.4 percent.

SiriusPoint is promoting Anthony Shapella to global CUO, taking over for David Govrin, who will focus on his responsibilities as the (re)insurer’s global president and chief executive of its reinsurance business.

Baldwin Group-backed start-up reinsurance broker Juniper Re has hired former Price Forbes broker Rebecca Lucking for the launch of a new Bermuda wholesale broking operation that will initially start out focused on property business,

SiriusPoint is beginning to build a record of sustained strong performance after delivering its eighth straight quarter of underwriting profits, with CEO Scott Egan optimistic that shareholders will ultimately reward the firm with a higher stock price.

Former Validus Re executive Andrew Tudor-Thomas has taken up the position of executive vice president and head of North America property and catastrophe reinsurance at Sompo in Bermuda,

Arch Capital Group has announced a special cash dividend that will return $1.9bn of capital to shareholders along with the promotion of David Gansberg and Maamoun Rajeh to the roles of president of the Bermudian (re)insurer.

RenaissanceRe president and CEO Kevin O’Donnell has said that increases in underlying casualty need to accelerate for the business to remain attractive over the next 10 years.

Hiscox has reported 3 percent year-on-year top-line growth during the first nine months of 2024 as well as a $75mn fourth-quarter reserve for Hurricane Milton.

The shareholders of Enstar have “overwhelmingly” approved its acquisition by Sixth Street, the legacy player announced, with the $5.1bn deal expected to close in mid-2025.