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International business voices concerns

Employee-shareholders receive a Budget boost

Reinsurance price increases fell short of a hard market during January renewals, say analysts from S&P Global Ratings. In a report released today, the ratings agency said reinsurers were “left wanting more”, but that expectations for rate rises remai...

Bermuda has attracted billions of dollars of new re/insurance capital over the past year, but the pace of the multiyear growth in third-party structures such as insurance-linked securities has slowed. That is the view of analysts from ratings agency...

Insurer Lancashire Holdings Ltd saw its full-year profit slide, as losses related to Covid-19 and natural catastrophes took their toll. The Bermudian-based company said pretax profit fell to $5.9 million in 2020, down from $119.5 million in 2019. Net...

Veteran insurance executive Mitch Blaser has launched a new Bermudian-headquartered company with the aim of building one of world’s top global specialty insurers. Mosaic, which will target complex risks and use cutting-edge technology to maximise eff...

European Union politicians are calling for any jurisdiction with a zero per cent tax rate on corporate profits – including Bermuda – to be included on the bloc’s tax blacklist. But Curtis Dickinson says the body that manages the list has given no ind...

Aon and Willis Towers Watson have announced the executive team that will lead them when the two global re/insurance brokers merge. Gregory Case, Aon’s chief executive officer, will be CEO of the combined company, once the deal is finalised, the compa...

AkinovA (Bermuda) Ltd, an electronic marketplace for the transfer and trading of insurance risk, has been granted the first “insurance marketplace provider” licence by the Bermuda Monetary Authority. The company becomes the first to graduate from th...

Insurers must pay out hundreds of millions of dollars in disputed business interruption insurance claims after Britain’s Supreme Court ruled in favour of claimants today. Bermudian-based Hiscox said its estimated 2020 Covid-19 loss estimate had climb...