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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 ...

AM Best has revised its outlook for the global reinsurance sector to stable from negative. The credit ratings agency cited stabilising prices for non-life reinsurance, although “at levels still below long-term adequacy”, as well as ongoing stability...

Authorities in Bermuda and the US are making inquiries into the recording of loss reserves by Markel CatCo Investment Management Ltd and its subsidiaries. This was revealed in a statement last night from Markel Corporation, the US-based parent compan...

A major data breach reported by hotel giant Marriott International a week ago, with up to 500 millions customers potentially having their personal information exposed, has underlined the scale of cyber-risks that businesses face. Against that backdro...

In the early 1980s, tangible assets made up around 80 per cent of the value of the S&P 500. Fast forward to today and nearly 85 per cent of the value of the S&P 500 is attributable to intangible assets. However, the risk transfer market has not caugh...

Horseshoe Fund Services is partnering with private equity and venture capital platform of AltaReturn, a leading provider of cloud-based, end-to-end software solutions for the private equity, venture capital and real estate industries. Brian Desmond, ...

Tim Bunt has joined Everest Insurance’s marketing and distribution team as vice-president responsible for business development in the large account space. He was previously with CBRE Inc, a worldwide real-estate services company, and before that was ...

Hamilton Insurance Group has appointed Michael Papamichael as senior vice-president, strategy and corporate development. Pina Albo, Hamilton Group chief executive officer, said: “We’ve had a number of opportunities present themselves to Hamilton an...

The Bermuda Insurance Management Association and Bermuda Insurance Institute’s 2018 Captive Education Summit takes place at the Hamilton Princess tomorrow afternoon. The event, billed largest captive education forum for industry professionals, takes ...

Bermudian-based insurers and reinsurers have strengthened their resilience to potential catastrophe events by marginally decreasing their net exposure to such events, while also increasing the amount of capital and surplus they hold. That is one of ...

Moody’s Investors Service says the fourth-quarter earnings of re/insurers will be hit by wildfires in California, but the losses are described as “manageable”. The Camp and Woolsey fires could rack up insured losses of up to $15 billion, Moody’s said...