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Qatar Re grew its reinsurance premiums to $654 million in the second quarter to account for 43 per cent of all premium income of its parent Qatar Insurance Company. The Bermudian-based reinsurer achieved a 41 per cent increase in premiums. Meanwhile,...

The importance of the insurance-linked securities industry to Bermuda’s economy has been underlined in a report on the island’s ILS market. It is estimated that Bermudian-based ILS funds have a total economic impact on the island of $734 million. At ...

A new internship programme targeting students from the public school system has been set up. Now eight pupils from the Berkeley Institute and CedarBridge Academy are taking part in the scheme, set up by the Association of Bermuda International Long T...

A charity backed by Bermudian insurance firms handed out a total of $293,000 in scholarships. The Bermuda Foundation for Insurance Studies gave out the awards to 13 students at a special reception. Gail Martin, chairman of the BFIS board of trustees,...

Bermudian-headquartered Qatar Re has strengthened its Dubai team with three appointments. All three are former employees of the Zurich Insurance Group. Manik Kak joined the company from Zurich Insurance Company, in Dubai, where he was chief underwrit...

Randall & Quilter Investment Holdings Ltd has acquired a Bermudian Class 3 insurer in run-off. R&Q, which is also based in Bermuda and listed in London, said yesterday that it paid $1.4 million in cash for Agency Program Insurance Company Ltd, a segr...

Protection from the effects of cyberattacks is set to be big business for Bermuda, an expert in the field said yesterday. Giles Harlow, vice-president for professional risk solutions at insurance and reinsurance brokers Aon Bermuda, said: “We think i...

Prince Charles has convened a global forum on sustainable development hosted by advisory and brokerage firm Willis Towers Watson. The company, which has an office in Bermuda, created the forum as part of the “Measure What Matters” project, which aims...

Amendments to the Insurance Act that aim to keep the island “at the forefront of our most vital industry” were passed in the House of Assembly on Friday. Minister of Finance Bob Richards outlined several technical changes to the Act mostly pertaining...

The global insurance-linked securities market shrank by more than $1 billion in the second quarter, as new issuance slowed. That is according to a report by insurance blog website Artemis.bm, which found that new issuance of catastrophe bonds and ILS...

Insured losses from the wildfires that caused catastrophic damage to the city of Fort McMurray and disrupted oil sands operations in the region, are the highest in Canada’s history. The most up to date report from Aon Benfield anticipates insurers wi...

Hedge fund reinsurers need to bridge the gap between the risk cultures of hedge funds and reinsurers, if they are to remain viable in the long-term. That is the view of analysts from Standard and Poor’s Global Ratings, who note that HFRs have managed...