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The US and Bermuda reinsurance market outperformed Lloyd’s of London in underwriting last year, according to ratings agency AM Best. The combined underwriting ratio of 87.5 per cent narrowly beat Lloyd’s figure of 88.1 per cent. Lloyd’s, however, had...

Profits fell slightly last year for the member companies of the Association of Bermuda Insurers and Reinsurers (ABIR), the industry body announced. The 19 of ABIR’s 21 members who agreed to be surveyed racked up a combined $11 billion in net income ...

A catastrophe study programme tailor-made for Bermudians starting later this year could boost job prospects in a reinsurance sector hard-hit by mergers. “A big part of this programme was built with Bermudians in mind,” said Professor Igor Kamenkovich...

Energy sector mutual insurer Oil Insurance Ltd racked up profits of $731 million in 2014, as it had its best underwriting year. The Bermuda-based company said its directors had also agreed to pay out a dividend totalling $400 million to shareholders....

Veteran insurance chief Richard Brindle is set to return to the business as part of a new $2 billion insurance venture on the Island. Mr Brindle — former CEO of Bermuda-based Lancashire Holdings — will become head of Fidelis Insurance Holdings — a hy...

By Raymond Hainey An increase in storm frequency should force a fresh look at risk from severe weather, according to a new report. The Swiss Re Sigma report on 2014 said that cyclones and thunderstorms were a major cause of losses last year. And the ...

Veteran insurance chief Richard Brindle is set to head up a new $2 billion insurance venture on the Island. Mr Brindle — former CEO of Bermuda-based Lancashire Holdings — will lead Fidelis Insurance Holdings, according to reports. The new firm is bac...

Bermuda could carve out a huge chunk of a new market for cyber insurance, experts said yesterday. They were speaking after the UK government issued a report on joint initiatives with the insurance sector to tackle cyber risk — and make the UK a world...

Bermuda reinsurers could benefit after the Florida hurricane catastrophe fund yesterday backed the transfer of $2.2 billion in risk to the private sector. And Brad Kading president of the Association of Bermuda Insurers and Reinsurers (ABIR) said: “A...

A Florida politician yesterday launched an attack on Bermuda amid a bid to transfer more than $2.2 billion into the private reinsurance market. Representative Frank Artiles said moves to transfer the risk from the state-run Florida Hurricane Catastro...