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A Bermuda company, Lancashire Holdings Limited, and its Bermuda insurer are facing a negative outlook for ratings issued by credit rating agency AM Best. Although recognising several positive attributes of performance and management processes, the ag...

Member companies of the Association of Bermuda Insurers and Reinsurers recorded a robust 21 per cent year-over-year increase in net premium written in 2021, the organisation reported. Abir’s global underwriting report, released yesterday, comprises d...

Westgate inmates complained that they were punished for refusing Covid-19 tests, according to the 2021 Ombudsman's Report. The report, the last by former Ombudsman Victoria Pearman, said the Ombudsman’s Office received several complaints from inmates...

Sompo International Holdings Ltd, the specialty property and casualty re/insurer based in Bermuda, almost doubled its adjusted profit for the fiscal year ended March 31, moving from $248.5 million in the prior year to $483 million. The performance of...

The net income of the Bermuda Monetary Authority increased eighteenfold in 2021 after its regulatory fees increased by $11 million, according to its annual report. The BMA, Bermuda’s independent financial services regulator, had net comprehensive in...

Bermudian-based Convex Group’s net loss narrowed from $179 million to $158 million in fiscal year 2021 as its gross written premiums nearly doubled, the international specialty re/insurer said. Convex said gross written premium increased by 93 per c...

The Financial Assistance Department has identified almost $500,000 in overpayments due to fraud and abuse, according to a Government report. The Department of Financial Assistance Annual Report 2020-21 – tabled in the House of Assembly yesterday – sa...

Improved underwriting performance drove a return to profitability for Aspen Insurance Holdings Limited, the Bermudian-based re/insurer. Aspen has reported $29.8 million in net income for 2021, compared with a net loss after tax of $56.4 million in 20...

American Overseas Group Limited, the Bermudian-based insurance holding company, has reported a consolidated net loss available to common shareholders of $5.5 million for 2021. That compares with a consolidated net loss available to common shareholder...

Catalina Holdings (Bermuda) Ltd has set its sights on entry into the Lloyd’s market in 2022, the company’s new group chief executive officer revealed. Industry veteran Ian Parker, appointed to the post in February, was speaking as Catalina reported c...

Bermudian-domiciled Athora Holding Ltd, an insurance and reinsurance group focused on the European market, has reported a €428 million ($462 million) profit before tax from continuing operations in 2021. That compares with a 2020 profit of €709 milli...

Bermudian-based Oil Insurance Limited has reported a net profit of $667.5 million for 2021, which included a $266 million underwriting profit. That compares with a net profit of $466.5 million in 2020. The Oil board has approved the payment of a $350...