Log In

Validus Specialty Underwriting Services has launched a new product to cover cyber-risk. The stand-alone product from the US subsidiary of Bermudian-based Validus Holdings is focused on privacy and network protection coverage, the company said today....

Bermudian bond insurer Assured Guaranty has struck a $13.5 billion reinsurance deal with Syncora Guarantee, a US subsidiary of another Bermudian company, Syncora Holdings. Under the agreement, Assured will provide reinsurance, generally on a 100 per ...

Ascendant Group Ltd, the parent company of power utility Belco, has appointed Robert Schaefer as chief financial officer. Mr Schaefer replaces Mark Takahashi, who is retiring. Sean Durfy, Ascendant’s president and chief executive officer, said: “Rob...

Chubb Limited has appointed Michael Smith as chief claims officer. Mr Smith has more than 30 years’ experience in insurance and law, and previously worked for American International Group from 2000 to 2017. Before that he had executive management rol...

Bermudian-based Enstar Group has struck a deal to take full ownership of reinsurer KaylaRe. Enstar already owns a 48 per cent stake in the Bermudian reinsurer, which was set up with $620 million of capital backing in late 2016. Under the $400 million...

The Phoenix Stores and The Argus Group are partnering to cut the cost of blood glucose testing for those living with diabetes. The Phoenix has brought in the “On Call Express Blood Glucose Monitoring System”, featuring a glucometer which it claims to...

Bermudian-headquartered Bacardi Ltd has promoted Vijay Subramaniam to the role of managing director — Asia Pacific, the Middle East and Africa. He joined the company in 2013 and was managing director of India, a position that was enlarged to include ...

XL Group’s profit for the fourth quarter dropped to $28.3 million, or 11 cents per share, a 90.5 per cent year-on-year decrease, after it suffered $315.3 million of pre-tax catastrophe losses. It took a $100.5m non-recurring tax charge as a result of...

XL Catlin’s Global Excess Casualty business has appointed John Kopach as new regional manager for the south east region of the US. Mr Kopach was previously with Everest National Insurance, where he was vice-president, excess casualty, East region. Ba...

Bermudian reinsurer Validus Holdings reported a net loss of $8.7 million for the fourth quarter of last year, as wildfires in California racked up more than $120 million in losses. Validus, which last month announced it had struck a $5.6 billion deal...

RenaissanceRe Holdings Ltd reported a net loss of $3.5 million for the fourth quarter of last year, as a one-off writedown related to US tax cuts weighed on results. The Bermudian insurer and reinsurer also took a hit from California wildfires during...

The company behind Butterfield & Vallis is celebrating its 100th anniversary, and it is looking ahead to maintaining and furthering its success and longevity. Jim Butterfield is the third generation of the family to run Butterfield & Company Ltd, and...