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The first February tornado in Massachusetts since records began was among notable severe weather that impacted the US last month, causing a total expected insurance industry loss of a $1 billion. The tornado was one of at least four reported in that ...

Aon will today start its 2017 Global Broking Leadership Meeting in Hamilton. The insurance and reinsurance broker and risk management adviser has brought together chief broking officers from more than 15 countries and lines of business, plus other se...

Catastrophe bonds worth almost $290 million have been admitted for listing on the Bermuda Stock Exchange in the past few days. Citrus Re Ltd listed a $125 million catastrophe bond yesterday. The Series 2017-1 Class A principal at-risk variable rate n...

The successful $450 million debt sale that closed this week was a step on the road to putting Qatar Re in the top tier of the reinsurance industry, That is the view of Gunther Saacke, the Bermudian company’s chief executive officer, who described the...

American International Group yesterday said its chief executive officer is to step down — and one Wall Street analyst suggested that Bermudian insurance veteran Brian Duperreault could be on the shortlist of candidates to take over. Peter Hancock wil...

High demand for the first international debt issuance by Bermudian-based Qatar Re saw its perpetual Tier 2 notes oversubscribed 14 times. The reinsurer successfully placed $450 million of the notes. The issue had attracted more than 290 orders for mo...

Global insurance rates moderated throughout last year, with four consecutive quarters where the rate of decline decreased. The Marsh Global Insurance Market Index is a benchmark of commercial insurance premium rate change at renewal representing the ...

Bermuda continues to be the world leader in the insurance-linked securities market — but new issuance of ILS fell for a second successive year in 2016. The Bermuda ILS Market Report, published quarterly by the Bermuda Monetary Authority, showed that ...

The US National Oceanic and Atmospheric Administration has released its report on Hurricane Nicole, which passed over the island last October. While the hurricane weakened before reaching Bermuda, saving the island from the worst the storm had to off...

Bermuda’s re/insurers recorded weaker underwriting results in 2016 as catastrophe losses took their toll. Fitch Ratings reported that the 12 large, publicly traded Bermuda companies it follows posted a combined ratio — reflecting the proportion of pr...

Ratings agency AM Best has maintained its rating of Bermuda-based Maiden Holdings after the company revealed it would be up to 15 days late in filing its annual report for last year. AM Best said reinsurer Maiden’s long-term issuer credit rating of b...

XL Group estimates it will face a $75 million impact on its carried reserves as a result of a decrease in the discount rate used to calculate lump sum awards in British bodily injury cases. The Bermudian-based company said impacts on its insurance se...