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Bermuda is leading the way in the insurance sector’s growing alternative capital market. The large insurance losses sustained as a result of hurricanes in 2017 resulted in more alternative capital being placed in the Bermuda insurance market. Comment...

Insurers and reinsurers in Bermuda need to step up their cybersecurity defences and strategic planning. The Bermuda Monetary Authority has carried out an assessment of the level of technology risk that faces the island’s commercial insurance and rein...

On the eve of new international requirements for companies to show economic substance in jurisdictions where they have a registered presence, Bermuda’s leading international insurers and reinsurers, have expressed continued support for the Bermuda Go...

Bermudian-based Hamilton Re is inviting applications from students entering their junior year of college who are interested in participating in an intern programme during the summer. Reporting into the catastrophe modelling team, the internship progr...

Catastrophe risk modelling firm AIR Worldwide estimates that the direct cyberincident losses for the Marriott breach will be between $200 million and $600 million. AIR’s loss estimates are based on the assumption that 500 million records were stolen...

Insurance and reinsurance companies in Bermuda are doing a little more to make the festive season more enjoyable for Bermudians in need. Many of the companies that make up the Association of Bermuda Insurers and Reinsurers donate funds and time durin...

John Charman will leave his role as chief executive officer of Bermudian-headquartered Sompo International Holdings Ltd next year to become CEO of Overseas Insurance Business at parent company Sompo Holdings Inc. In his new position he will head up a...

Hong Kong is aiming to create an insurance-linked securities market — a sector in which Bermuda is the global leader. The alternative risk transfer website Artemis.bm reported that Paul Chan, Hong Kong’s financial secretary, had spelled out the terri...

Hamilton Re’s ability to take underwriting and investment risks in a “measured and balanced way” is one of the reasons cited by Kroll Bond Rating Agency in giving the Bermudian reinsurer a financial strength rating of A. KBRA’s report commentary stat...

Ed, the London-based reinsurance, wholesale and specialty broker, plans to open an office in Bermuda. The operation, which is pending approval from the Bermuda Monetary Authority, will be built and led by Chris Bonard, chief executive officer of grou...

Bermudian-based Sompo International Holdings Ltd has set up a team in the US to focus on cyber insurance. Their offerings will include an enhanced cyber and professional liability product and an expanded suite of cyber-risk management services. Jeff ...

Bermuda’s captive insurance industry will not fall foul of imminent new rules on economic substance, according to an industry executive. The Economic Substance Act 2018 Bill is due to be tabled today in the House of Assembly. The new law is designed ...