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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...

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...

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...

A ground-breaking Bermuda-based African catastrophe insurance pool has been praised by the leaders of the G7 group of industrialised nations. The news came as the African Risk Capacity (ARC) pool is set to add five more nations, bringing the total to...

Alternative reinsurance capital is growing at a faster rate than traditional reinsurance capital. That trend has been identified in an analysis of the market by Aon Benfield, the global reinsurance intermediary and capital advisor of Aon. Total reins...

The first-ever China catastrophe bond has been set up in Bermuda. The $50 million Panda Re bond, listed on the Bermuda Stock Exchange (BSX), will be used by sponsor China Re to cover earthquake losses across the mainland People’s Republic of China. B...

A family-owned Bermuda insurance firm has notched up an incredible 200 years in business. CNA Butterfield was founded in 1815 — the year the Duke of Wellington defeated Napoleon at the Battle of Waterloo — and is still going strong. Nathaniel Butterf...

By Jonathan Kent A spike in demand for reinsurance in Florida is helping parts of the property-catastrophe reinsurance market to stabilise, according to broker Willis Re. The view, expressed by Willis Re Global chief executive officer John Cavanagh, ...

Insurance firm Ace has agreed to buy out a major US-based insurer in a $28.3 billion deal. The move means Ace, which has an office in Bermuda, will have a 70 per cent stake in New Jersey-based Chubb after the deal closes. The new firm will use the Ch...

It is understandable why one might be tempted in Bermuda to be caught up entirely on local issues and focused on what meets us right in the face. Being an isolated oceanic island makes that approach to life more likely but we would be guilty of being...

Changes to the Island’s insurance legislation were approved in the House of Assembly last night with the support of both parties. The Insurance Amendment (No 2) Act 2015, tabled by Finance Minister Bob Richards, is intended to clarify and strengthen ...