Bermuda

Fidelis mints $50mn Bermuda sidecar

Fidelis has launched a $50mn ILS sidecar based in Bermuda to provide collateralised capacity support for the carrier’s reinsurance book.

Axis Re restructures leadership team under Arora

Axis has made a number of changes to the leadership team of its reinsurance division, following the appointment of Steve Arora as CEO earlier this year.

Slade joins Hamilton in new third-party capital management role

Brent Slade will join Hamilton Insurance Group next month as the senior vice president of a new business unit, Hamilton Capital Partners, that will be tasked with the development of Hamilton’s “capital management capabilities”.

QBE Re taps Swiss Re’s Cary as new Bermuda boss

The reinsurance arm of Australian giant QBE has hired David Cary to head up its Bermuda office.

O’Hara joins cyber start-up Envelop Risk

Brian O’Hara, a leading forefather of Bermuda’s (re)insurance industry and the former CEO of XL, has joined start-up cyber analytics firm Envelop Risk.

Aspen CEO O’Kane relocates to Bermuda

Chris O’Kane, the CEO of (re)insurance group Aspen, is relocating to Bermuda ahead of the potential sale of the company which could accrue him millions of dollars as part of an exit package.

The Hartford added to list of Aspen second round suitors

US insurer The Hartford is through to the second round of the $2.6bn+ Aspen sale process currently being managed by Goldman Sachs and JP Morgan, re-Insurance.com can reveal.

XL unveils a spate of senior departures as it gears up for Axa takeover

XL has announced a wave of departures from its senior management team ahead of its $15.3bn takeover by Axa.

Munich Re forms $330mn Bermuda life insurer

The industry’s largest reinsurer Munich Re has capitalised a run-off Bermuda unit and which it will use as an in-house reinsurer of group subsidiaries.

Aspen makes Postlewhite departure official with £767,000 severance

Bermudian carrier Aspen and its former insurance CEO Stephen Postlewhite have officially parted ways after the two parties came to an arrangement which grants the executive a severance package totalling £766,756 ($1.04mn).

AmTrust pushes Maiden into the red as strategic review rumbles on

Maiden’s long-standing quota share with sister company AmTrust again hindered its performance as the Bermudian’s first quarter combined ratio extended further into the red.

Enstar slips into the red as losses erode Atrium and Starstone profits

An increased loss burden ate into Atrium’s profits in the first three months of the year as Enstar’s Lloyd’s arm’s combined ratio spiked 12.1 points to 94.9 percent.

Bermuda bosses split on how to handle M&A bonanza

The leaders of some of Bermuda’s biggest insurers and reinsurers differ on how to address the currently thriving M&A environment - with some actively pursuing deals in the frothy market and others hoping to benefit from the spoils of any mooted takeover.

O’Kane focuses on Aspen 2.0 as second round M&A begins

Aspen published its first set of results last week since beginning a formal sale process which ensured even greater scrutiny than usual on its turn-around plans.

Aspen bankers narrow bidders as second round begins

Goldman Sachs and JP Morgan will formally notify parties which have made it through to the second round auction process for the up-for-sale Bermudian (re)insurer Aspen early this week, re-Insurance.com can reveal.

XL: London and Bermuda enjoying positive rates ‘in all lines’

XL Group has revealed that its London Market and Bermuda operations both enjoyed revenue growth of 14 percent in the first quarter while providing encouragement to investors on strong 2018 rate movements.

Argo beats estimates as first quarter premiums swell

Bermudian (re)insurer Argo exceeded the expectations of analysts to deliver an operating profit of $36.5mn in the first three months of the year.

Aspen exploring ‘many, many’ deal possibilities

Chris O’Kane, the boss of up-for-sale Bermudian carrier Aspen, has said the (re)insurer is evaluating “many, many” different deal possibilities and players.

Aspen beats estimates with $63mn profit as sale process rumbles on

Up-for-sale Bermudian Aspen defied analyst expectations to book a $63mn profit for the first quarter after receiving a boost from higher reserve releases and lower cat losses than it reported time last year.

XL posts 95 percent combined ratio as Axa influence shows

XL Group, the Bermudian powerhouse that has agreed to a $15.3bn takeover from Axa, has described its first quarter as a “solid start” after posting net income of $152.6mn, nearly identical to the quarter a year earlier ($152.8mn).

Region

Topics

Events & Conferences

Content Types