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An XL Group subsidiary has bought two US insurance companies. XL Reinsurance America, an indirect wholly-owned arm of the Ireland-based firm, has acquired Allied International Holdings and THE Insurance. Allied is the holding company of Allied Specia...

A Bermuda company has thrown its weight behind a drive to attract young people into the industry. Hamilton Insurance Group has signed up for the international Insurance Careers Month, launched yesterday in the UK, US and Bermuda. The aim of the event...

Fitch expects more mergers and takeovers to come in the Bermuda reinsurance market amid tough market conditions. However, the credit rating agency sees the equivalency with Solvency II, the new European Union insurance regulations, as boosting the Is...

Everest Re Group has appointed a new chief administration officer. Bill Thygeson will be responsible for several aspects of the firm’s operational platform with a focus on technology and its impact on business processes for underwriting and claims, a...

Energy and optimism are high after Ace Ltd’s $29.5 billion takeover of US insurance giant Chubb Ltd. That is the view of chairman and chief executive officer Evan Greenberg, who last night said the company had capped its last quarter trading as Ace L...

The Mediterranean island of Malta is set to challenge Bermuda for its captive insurance crown. The country is to launch a drive to attract the captive industry to its shores, instead of Bermuda. But Robert Paton, president of the Bermuda Insurance Ma...

The BFIS Alumni Committee is to offer the kind of financial help with education that benefited its members on their way to careers in the insurance industry. The BFIS Alumni Scholarship will be first awarded this year to commemorate the 20th annivers...

Global catastrophes last year cost a total of $123 billion, nearly a third down on the 15-year average of $175 billion. Losses were the lowest since 2009, and the fourth successive year to record a fall. However, they were only 8 per cent lower than ...

Bermuda-based Qatar Re now accounts for half of the Qatar Insurance Company’s (QIC) total premium income after its reinsurance premiums rose 116 per cent during 2015. Announcing its full year results, QIC reported a consolidated net profit of $292 mi...

Bermuda-based insurance group Armour has bought into a London Sharia-compliant insurance and reinsurance company. Armour has invested in Cobalt Insurance and the firm’s Sean Dalton has joined the London company’s board as a non-executive director. Co...

Dear Sir, Despite the now well-documented challenges permeating the reinsurance industry, there remain many great opportunities for Bermudians — even, yes, for young Bermudians motivated to develop the talents and skills needed take advantage of thes...

Insurers and reinsurers can expect to see their margins eroded as inefficiencies are “brutally exposed” by disruptive technology, according to a report by a major management consultancy. Oliver Wyman, an arm of Marsh & McLennan Cos, sees the financia...