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One of the first true reinsurance sidecars, Olympus Re Holdings Ltd, is being voluntarily wound up 14 years after it was created. The pioneering firm was set up in Bermuda in 2001. It was initially backed with $500 million in capital from investors t...

A Bermuda fund administrator has passed the $3 billion mark in assets under administration after only three years in business. ILS Fund Services — which provides fund administration and valuation services to funds that invest in insurance linked secu...

RenaissanceRe Holdings Ltd’s acquisition of fellow Bermuda reinsurer Platinum Underwriters Holdings Ltd is expected to close today. The $1.9 billion cash-and-stock merger deal was announced in November. Platinum shareholders were invited to choose be...

Economic losses caused by storms, earthquakes and other natural catastrophes easily topped $1 billion in January, according to estimates by Aon Benfield. Four windstorms in Europe and a powerful Nor’easter in the northeastern region of the United Sta...

Claims for damage from the unprecedented occurrence when two hurricanes battered Bermuda in one week are expected to reach just over $7 million for Colonial Group International. Considering the ferocity of both hurricanes, it is a minor miracle and i...

Partnering with the Lloyd’s of London market gives Bermuda insurers extra credibility, according to a top lobbyist for the industry. Bradley Kading, president of the Association of Bermuda Insurers and Reinsurers (ABIR), addressed the thriving Berm...

Freisenbruch-Meyer Group (FMG) has come up with a new insurance policy specifically to cover the risks of the growing vacation rentals sector. The rise to prominence of websites such as Airbnb.com has fuelled the rise in the number of people renting ...

Global reinsurance capital has now reached a record $575 billion, which includes more than $60 billion of deployed alternative capital, according to the latest reinsurance market report from Aon Benfield. The reinsurance intermediary and capital advi...

A major insurance firm with a Bermuda operation has been bought out in a $1.88 billion swoop — the latest in a series of mergers set to affect Island businesses. Brit Group — which opened an office on the Island around 18 months ago — has been taken ...