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Insurance

Reinsurance

Chubb profit slips in first report after deal agreement

NEW YORK (Bloomberg) — Chubb Corp, the insurer that agreed this month to be bought by Ace Ltd, said second-quarter profit slipped 1 per cent on weaker investment results and costs tied to the transaction. Net income decreased to $494 million, or $2.1...
Jul 24, 2015
Reinsurance

Allied World profit hit by investment losses

Profits plunged to $9.5 million at Allied World Assurance Company in the second quarter, down from $151.9 million during the same period in 2014. The company was hit by a mark-to-market loss of $60.1 million on investments, together with a double-dig...
Jul 23, 2015
Reinsurance

BFIS awards $445,000 in scholarships

Bermuda’s insurance industry has awarded a massive $445,000 in scholarship funds. The latest round of Bermuda Foundation for Insurance Studies awards to 12 Island students brings the total funding of new and current scholars to $708,000 for 26 studen...
Jul 21, 2015
Reinsurance

Insurers advised to invest for knowledge

Insurance and reinsurance firms should deploy their capital not only to boost income but to add knowledge to their businesses. And top lawyers from a specialist US law firm last night outlined to business executives the benefits of corporate venture ...
Jul 17, 2015
Reinsurance

ILS conference seeks to attract 300-plus

World leaders in the reinsurance business are set to descend on Bermuda for a major conference in November. ILS Bermuda Convergence 2015 is expected to attract more than 300 delegates from around the globe. Greg Wojciechowski, chief executive officer...
Jul 16, 2015
Reinsurance

Reinsurance prices falling more slowly

Reinsurance prices declined in the July 1 renewals, but at a moderating rate. That is the finding of Guy Carpenter & Company in its latest briefing on renewal pricing. It noted that the moderating declines were especially seen in programmes covering ...
Jul 15, 2015
Reinsurance

China healthcare insurance vehicle launched

A Bermuda-based Chinese insurance company is to launch a new healthcare insurance product. TOP Reinsurance Ltd will help structure the deal for the Chinese market and a new reinsurance vehicle will be established on the Island by Guangdong Wing Yue I...
Jul 15, 2015
Local Business

Fubler lands top post at Sun Life

A Bermudian insurance industry veteran has been promoted to a top post at Sun Life. Trenton Fubler, who has been with the company for 12 years, is now associate director of operations at the firm. Mr Fubler, who started off as a customer service repr...
Jul 14, 2015
Reinsurance

BFIS to cap networking series with party

An end-of-summer party is to be held by the Bermuda Foundation for Insurance Studies (BFIS) as the finale to a series of networking events for students and professionals in the industry. BFIS will hold the party on Wednesday, August 12. The event fol...
Jul 13, 2015
Reinsurance

Solvency II decision expected in autumn

Bermuda must wait a few more weeks to find out whether its insurance regulation will be deemed equivalent to the new standards being introduced in the European Union. Legislative changes passed by the Senate last week addressed the recommendations of...
Jul 13, 2015
Reinsurance

Women in Reinsurance boosts online presence

A group for women working in reinsurance has boosted its online presence. Women in Reinsurance has set up a new website, blog and LinkedIn group for members. Kathleen Reardon, CEO of the Hamilton Re and chairman of Women in Reinsurance, said: “Our go...
Jul 10, 2015
Letters to the Editor

The Ace model for success

Anyone who says it’s not possible to build a global business empire after starting out in tiny Bermuda should take a look at Ace Ltd. Last week’s announcement that the company had agreed to buy the American insurance powerhouse Chubb in a mind-boggli...
Jul 09, 2015
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