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RenaissanceRe Holdings has appointed David Marra as president of Renaissance Reinsurance US. Mr Marra has more than 15 years experience in the Bermuda reinsurance market. He joined Bermuda-based RenRe in 2008 as a vice-president and was appointed to ...

Insurance giant Ace has completed a $29.5 billion takeover of Chubb to create the world’s largest publicly-traded property and casualty insurance company. Ace was an early flag-bearer for Bermuda’s insurance sector after placing its operating headqua...

It’s difficult to go for very long without hearing about the millennial generation. Loosely described as people now aged between 20 and 35, there seems to be a widespread fascination with how they live and what they want from work. Type “what baby bo...

Global reinsurance capital has fallen back from its $575 billion peak, recorded in 2014, and is now estimated to be 2 per cent lower at $565 billion. The reason for the $10 billion drop is unrealised investment losses, together with adverse foreign e...

The reinsurance industry is still under pressure from low prices, a top executive said this week. Aspen Re chief underwriting officer Emil Issavi added the year started with a “benign” natural catastrophe environment, a more stable economy and stable...

A new $57 million private catastrophe bond has been launched in Bermuda. The bond transaction used Willis’ Resilience Re cat bond issuance platform, which was launched in October last year. It was listed on the Bermuda Stock Exchange (BSX) on Decembe...

Two major firms with a presence in Bermuda officially merged yesterday in an $18 billion deal. Insurance and reinsurance firm Willis, which has offices on Pitts Bay Road, Pembroke, started operations in partnership with Towers Watson, a professional ...

FRANKFURT (Bloomberg) — Costs from natural catastrophes fell last year to the lowest level since 2009 as the weather effect known as El Nino reduced heavy storms in the North Atlantic, according to Munich Re, the world’s largest reinsurer. Global los...

Business leader Donald Kramer is this year’s entrant into the Insurance Hall of Fame. Mr Kramer, the chairman and chief executive officer of Bermuda-based ILS Capital Management, won the award from the New York-based International Insurance Society. ...

Even with the arrival of January renewals there seems to be no end in sight to the soft market conditions that reinsurers have endured since 2012. In a blunt assessment, Willis Re has concluded that hopeful forecasts for a “softening in the softening...

Bermuda-based insurance and investment firm Old Mutual has been bought by Beechwood Bermuda. Old Mutual, which has more than $1 billion in assets, closed for new business in 2009. Now Beechwood, a major provider of international investment plans that...

Insurance and reinsurance broker Willis Group Holdings has completed the acquisition of Gras Savoye, the French insurance broker. In April last year Willis, which is based in London and has offices in Bermuda, announced a $590 million offer to acquir...