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A leading rating agency has predicted that 2022 will bring the fifth consecutive year of premium rate increases for property catastrophe cover in 2022, and predicted that they will be double-digit rate increases. Fitch Ratings also said that it expec...

An insurance boss has complained that even though rates have hardened, they remain too low. Richard Brindle highlighted the rising catastrophe risks in an era of increasingly evolving climate-change exposures and said that there are inadequate rates ...

Fitch Ratings believes that tax advantages held by Bermuda (re)insurers will eventually be reduced as a result of the 15 per cent global minimum tax. But Bermuda will remain favoured as an insurance domicile and the agency will hold off on any ratin...

Bermuda is poised to play an important global role in building resilience to climate risk, a sovereign surveillance report on the country has determined. But the island lags in steps needed to address its own defence. The report points to gaps in the...

The US trillion-dollar bipartisan infrastructure plan suffered a setback late last night when the House of Representatives delayed the vote on the crucial piece to US president Joe Biden’s domestic agenda. The fate of the proposals are expected to ha...

Threatened and asserted claims by two small investors prompted a buyout transaction offering accelerated return of capital to investors of Markel CATCo Reinsurance Fund Ltd and CATCo Reinsurance Opportunities Fund Ltd. In addition, it has led to the ...

Young Bermuda talent is being invited to join a company building the next generation of cyber reinsurance products. A UK company with its underwriting based on the island is expecting that new investment will facilitate an expansion of their Bermuda ...

A new study from an American think tank is the latest development in proposals for a global corporate tax scheme that could threaten Bermuda’s international business. But the report has concluded that Bermuda reinsurers are crucial to the United Stat...

A new estimate from catastrophe modelling firm, Karen Clark and Company (KCC) yesterday puts the insured loss from Hurricane Ida close to $18 billion – including $40 million in the Caribbean and the rest from wind and storm surge losses in the US. Ea...

Hurricane Ida will be more of an earnings hit as opposed to a capital event for the insurance industry, A.M. Best posits in its latest commentary. The rating agency said that because a number of Louisiana writers are regional players with lower level...