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Oil Casualty Insurance Ltd made a narrow profit last year in what its chief executive officer described as “a challenging market environment”. Ocil, which has evolved from an energy-focused mutual underwriting the risks of its shareholder companies i...

Technology is front and centre in the minds of chief risk officers in Bermuda, a survey has found. The second annual survey of island-based insurance CROs by professional-services firm EY found that the risk functions within companies are playing an ...

A blockchain initiative for the insurance industry, that includes XL Catlin as one of its founding shareholders, has incorporated in Switzerland. The Blockchain Insurance Industry Initiative, known as B3i, was set up as a collaboration between 15 glo...

Mutual insurer Oil Insurance Ltd returned $450 million to its shareholders in the form of a dividend after making more than half a billion dollars of net income last year. The energy insurance specialist held its Annual General Meeting at the Fairmon...

Bermudian-based mortgage insurer Essent Group Ltd has obtained $424.4 million of coverage from Radnor Re, a special purpose insurer also domiciled on the island. Radnor Re is backed by insurance-linked notes with ten-year maturities. The senior notes...

The head of a Bermudian software engineering firm and a New York insurance lawyer will speak at a seminar on artificial intelligence and the insurance industry next week. Sandra De Silva, the founder, chief executive officer and chief software archit...

Britain would have to apply for regulatory equivalence — just as Bermuda has already successfully managed — in order for its insurers to access European Union markets on a level playing field with continental competitors, under the EU’s latest draft ...

Bermudian-based firms Everest Re Group and Hudson Structured Capital Management have agreed to work together. Everest will invest across several of HSCM’s investment funds and will be the anchor investor in HSCM’s new insurance technology strategy du...

Pembroke Managing Agency Ltd — part of Bermudian-based Ironshore — has been granted approval by Lloyd’s to establish and manage GIC Syndicate 1947. Lloyd’s has granted Syndicate 1947 permission to underwrite business, attaching on or after April 1, 2...

Bermudian-based insurer and reinsurer Argo Group has acquired Italian speciality insurer Ariscom. Last year Argo acquired reinsurer Ariel Re and added a new team of property underwriters from Ironshore. Mark Watson, chief executive officer of Argo Gr...

It has been a busy start to the year for mergers and acquisitions involving companies in Bermuda’s insurance space. In January, American International Group announced its $5.6 billion acquisition of Bermudian-based Validus. This was followed on Monda...

It is unlikely that there will be significant job losses in Bermuda’s insurance sector as a result of US tax changes, however direct investment flows from the US could fall. Those are among the thoughts presented by Moody’s Investors Service, part of...