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Global reinsurer Swiss Re has estimated that the insurance industry was hit by $34 billion in catastrophe losses in 2014 — a lower-than-normal tally in recent years — and $11 billion less than in 2013. The Zurich-based company said its preliminary es...

Ratings firm AM Best has given its seal of approval to Tokio Millennium Re (TMR). AM Best has affirmed Tokio’s financial strength at A++ (superior) and issuer credit rating at aa+ with a stable outlook on both. The ratings agency said: “The ratings r...

Reinsurance firm Aspen Re has renewed its Silverton Re subsidiary for next year with $85 million in capital. Silverton Re — set up to help investors with access to diversified catastrophe risk — will be used to write a quota share of Aspen Re’s catas...

The Bermuda Stock Exchange (BSX) will shut up shop for Christmas at 2pm on Wednesday, Christmas Eve. The BSX will be closed on Christmas Day and Boxing Day and reopen for business on Monday, December 29. The exchange will also be closed on New Year’s...

Bermuda has taken a step closer to getting in line with EU rules on insurance firms’ capital and solvency. The European Insurance and Occupational Pension Authority (EIOPA) endorsed key aspects of the Island’s insurance and reinsurance regulatory reg...

The insurance and reinsurance industry will have to change the way it does business, a top executive has warned. Kathleen Reardon, chief executive officer of Hamilton Re, said that more than a third of premiums written were used to fund the distribut...

Coffee houses were an important part of commercial London in the 1700s, and Lloyd’s Coffee House was known as a place to talk about shipping. It is difficult to say whether Bermuda would have come up in discussions in Lloyd’s back then, but if it di...

The US Government programme that backstops insurance losses from terrorism acts is set to expire at the end of this year — sending shock waves through the insurance industry which overwhelmingly expected the US Congress to extend it. The attempt to r...

An international line-up of professional dancers is set to boost glamour at a city nightclub. Restaurant group MEF has signed up five dancers to headline at The Club, the former Margarita’s Grill on Bermudiana Road, which opens tonight. Manager Remus...

Gail Martin has been appointed chairwoman of the Bermuda Foundation For Insurance Studies (BFIS) — the first female to hold the post. The donor members of BFIS appointed Mrs Martin at the foundation’s annual general meeting this week. She is a vice-...