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New player Hamilton Re will enter the property insurance market, CEO Kathleen Reardon said yesterday. Ms Reardon added that the firm would also join the facultative market — a form of reinsurance in which a contract is negotiated for a specific insur...

NEW YORK (Bloomberg) — Jay Fishman, who built New York-based Travelers Cos into one of the world’s biggest insurers, lamented that disparities in tax rates are pushing established rivals and industry newcomers outside the US. Over the past 15 years o...

Reflecting what it calls a “notoriously deteriorating soft market”, Qatar Re’s half-year profit fell by about $1.5 million, year-on-year, to $13.4 million. The drop came despite the company boosting its gross written premiums by 42 per cent to $463.6...

The world insurance market against cyber crime will hit $5 billion within three years, experts said yesterday. And they predicted it would reach at least $7.5 billion within five years. The news came in a report from professional services firm PwC at...

The California Earthquake Authority, through its Bermuda-based special purpose insurer, Ursa Re Ltd, has issued a $250 million cat bond to cover earthquake risk in California. The Series 2015-1 Class B notes will run for three years and become due on...

Overall company strategy and holding on to value are key to taking advantage of the record numbers of mergers and acquisitions in insurance. Arthur Wightman, head of the Bermuda territory and insurance for financial services firm PwC, said a new repo...

Is the reinsurance pricing cycle close to the bottom? That is one of the most discussed questions at the Monte Carlo Rendez-vous event in Monte Carlo, where scores of reinsurance executives, including many from Bermuda, are meeting this week for thei...

Bermuda-based ILS Capital is to open a new office in London next month. The company has also appointed Teresa Gallant as the new chief financial officer and Glenn Clinton, who will head up US property catastrophe underwriting. ILS capital founder and...

Tokio Millennium Re’s Bermuda operations will be led by Kathleen Faries from the start of next year. The news came with the announcement that the firm had set up a new Capital Solutions unit, based on the Island. Edwin Jordan will lead the new unit a...

Insurer Amlin has been placed under review by rating agency AM Best in the wake of this week’s announced agreement to be acquired by Japan’s Mitsui Sumitomo Insurance Company in a $5.3 billion deal. Amlin operates in the Lloyd’s of London market and ...

Fosun International Ltd, which agreed a $1.84 billion deal to buy Bermuda-based insurer Ironshore earlier this year, aims to build up funds for more acquisitions. The Shanghai-based investment firm, backed by Chinese billionaire Guo Guangchang, propo...

Bermuda will find a way to retain its place as a leading global reinsurance hub amid the sweeping change the industry is undergoing. That is the view of analysts from rating agency AM Best who were speaking on a Global Reinsurance webinar panel yeste...