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More than half of insurance groups and the broader commercial market plan on using artificial intelligence/machine learning within the next five years, the Bermuda Monetary Authority has reported. The information is included in the Bermuda Insurance ...

The United Nations Environment Programme's Principles for Sustainable Insurance initiative is this week scheduled to give a progress update on the Sustainable Insurance Facility, an initiative to develop a pipeline of insurance solutions for micro, s...

Axa XL has appointed Vanessa Leemans as head of cyber, UK & Lloyd’s, effective immediately. Ms Leemans will be responsible for leading Axa XL’s cyber business in the UK and driving its strategic, profitable development. Andrew Underwood, chief underw...

Bermudian-based Sompo International Holdings Ltd has appointed Glen Bronstein as executive vice-president and head of insurance claims for the North America Region – Bermuda, Canada, Mexico and the United States. The specialty provider of property an...

Restricting capacity has led Fitch Ratings to forecast a double-digit bump in reinsurance rates for the property catastrophe business at January renewals, significant as some 60 to 70 per cent of non-facultative reinsurance business is up for renewal...

Markel International has announced plans to merge its professional and financial risks division with its recently expanded cyber team. Markel International’s managing director of wholesale, Andrew McMellin, said that when his company started writing ...

Bermuda is on track for a good year in terms of insurance company registrations. Statistics released by the Bermuda Monetary Authority reveal there have been 63 new registrations to date including two intermediaries, compared with a total of 65 last...

International specialty insurer and reinsurer Axis Capital has made a $15,000 donation to the educational non-profit Peak Potential Bermuda, for Scholars Bermuda, a learning centre that offers tutoring support for children of all ages. Peak Potential...

Bermuda-based special-purpose insurer Herbie Re Ltd has listed $80 million worth of notes on the Bermuda Stock Exchange. The Series 2022-1 notes are due on January 8, 2027, the BSX said in a statement. The listing sponsor is Clarien BSX Services Ltd...

Bermuda-based captive insurance company Transmonde Services Insurance Company Ltd has had its financial strength rating of A affirmed by the ratings agency AM Best. AM Best has also affirmed Transmonde’s long-term issuer credit rating of “a” and said...