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Four island-based executives are included in the latest power list for the captive insurance sector. Leading the way is Peter Mullen, who is at number two on the Captive Review Power 50 list, published by Captive Review magazine. Last year he was num...

XL Catlin’s insurance operations has announced the appointment of Todd Wilhelm as regional product leader, Energy, Property and Construction for Asia Pacific. He will be responsible for growing the energy, property and construction book and leading ...

MS Amlin has set up a new Bermudian-domiciled sidecar with more than $60 million of capital backing. The global re/insurer with offices in Bermuda, the UK and continental Europe, said the new special purpose insurer, Viribus Re Ltd, would provide col...

Robert Cartwright is the new president of the Risk and Insurance Management Society, the organisation that hosts the Rims Annual Conference and Exhibition in North America. Mr Cartwright succeeds Nowell Seaman in the top role. He is the division mana...

Reinsurers saw lower rate increases than they had hoped for after one of the biggest insured loss years on record during the January 1 renewals, a leading broker has reported. Willis Re, in its report entitled Extreme Weather — Calm Market, said pric...

The University of Vermont Health Network is to move its captive insurance company from Bermuda to Vermont. The cost of the move is expected to be between $35,000 and $50,000, and the state of Vermont will collect about $50,000 annually in premium tax...

Bermudian-based Qatar Re has struck a deal to buy Markerstudy’s Gibraltar-based insurance companies. Markerstudy underwrites more than 5 per cent of the UK motor insurance market, generating premiums of £750 million ($1.01 billion). Under the sales p...

Bermudian run-off specialist Armour is to launch a new reinsurer after raising up to $500 million in equity commitments from an investor group led by New York private-equity firm Aquiline Capital Partners. The new reinsurance company Armour Group Ltd...

Bermudian life reinsurer Athene Holding Ltd is spinning off Ager Bermuda Holding Ltd, the holding company of its European operations. Ager’s main subsidiary is Athene Lebensversicherung, based in Wiesbaden, Germany, and it specialises in life run-off...

Sagicor is planning to establish a reinsurance operation in Bermuda, according to an International Monetary Fund report on Barbados. The financial-services giant moved its holding company to Bermuda last year, but continues to be operated from Barbad...

The US tax overhaul is symptomatic of growing protectionism around the world threatening the global business model of Bermudian reinsurers. That is the view of Bradley Kading, outgoing president of the Association of Bermuda Insurers and Reinsurers, ...

The impact of hurricanes Harvey, Irma and Maria, and major wildfires in the US, is clearly shown in a graph tracking combined ratios for reinsurance companies. Data up to the end of the third quarter shows that this year is on track to be the worst y...