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By Jonathan Kent Aspen Insurance Holdings Ltd chief executive officer Chris O’Kane has this month sold more than 26,000 shares — worth around $1.15 million — of the company he runs. Mr O’Kane exercised options to buy the shares in the Bermuda-based r...

News of nearly half a billion dollars of new alternative reinsurance capital emerged yesterday, as the flow of third-party money into the industry continues unabated. The Bermuda Stock Exchange (BSX) announced the listing of $290 million worth of not...

Bermuda has launched a fresh charm offensive to target the potentially lucrative insurance market in Latin America. And the Bermuda Business Development Agency (BDA) will next year launch a roadshow in the region to highlight the business advantages ...

Third Point Reinsurance Ltd is winding down its catastrophe reinsurance fund and diverting resources to Hiscox’s Kiskadee insurance-linked securities (ILS) platform, in changes announced to the relationship between the two Bermuda firms. Third Point ...

Global reinsurer Swiss Re has estimated that the insurance industry was hit by $34 billion in catastrophe losses in 2014 — a lower-than-normal tally in recent years — and $11 billion less than in 2013. The Zurich-based company said its preliminary es...

Ratings firm AM Best has given its seal of approval to Tokio Millennium Re (TMR). AM Best has affirmed Tokio’s financial strength at A++ (superior) and issuer credit rating at aa+ with a stable outlook on both. The ratings agency said: “The ratings r...

Reinsurance firm Aspen Re has renewed its Silverton Re subsidiary for next year with $85 million in capital. Silverton Re — set up to help investors with access to diversified catastrophe risk — will be used to write a quota share of Aspen Re’s catas...

The insurance and reinsurance industry will have to change the way it does business, a top executive has warned. Kathleen Reardon, chief executive officer of Hamilton Re, said that more than a third of premiums written were used to fund the distribut...

The US Government programme that backstops insurance losses from terrorism acts is set to expire at the end of this year — sending shock waves through the insurance industry which overwhelmingly expected the US Congress to extend it. The attempt to r...

Gail Martin has been appointed chairwoman of the Bermuda Foundation For Insurance Studies (BFIS) — the first female to hold the post. The donor members of BFIS appointed Mrs Martin at the foundation’s annual general meeting this week. She is a vice-...

Insurance workers have come together to present $1,000 to two charities over the festive period. The Chartered Property Casualty Underwriter (CPCU) Society donated $500 in food vouchers to the Eliza DoLittle Society and $500 to the Women’s Resource C...