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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...

AQR Re Management Ltd is to wind down its operations after three years in business as a result of the reinsurance industry’s “consolidating market dynamics”. Some people will consequently lose their jobs at the firm, which works out of offices at 3 B...

Island insurance firm BF&M is to be the official America’s Cup healthcare provider. BF&M president and CEO John Wight said: “With the America’s Cup coming to Bermuda we wanted to show our support for the event and our community. This agreement allows...

Britain has launched a bid to muscle in on Bermuda’s money-spinning insurance-linked securities business. Bermuda is a leader in insurance-linked securities (ILS) — but yesterday UK Chancellor of the Exchequer George Osborne signalled that Britain wo...

Record-breaking winter storms in the United States caused more than $1 billion of insured losses last month, according to estimates by Aon Benfield. The US has been hit by a string of winter storms this year, which in January were estimated to have c...

A top executive of Third Point Reinsurance Ltd has stressed that the Bermuda-based firm is a “real insurance company” as US tax authorities seek to clamp down on what they consider to be hedge fund investment vehicles masquerading as reinsurers. Thi...

A final report by a Euro regulatory body has backed Bermuda’s bid for “third-country equivalence” with the EU’s Solvency II rules. EIOPA, the EU’s insurance regulators, continued to favour Bermuda in the final version of their report, submitted to th...

Life reinsurance company Beechwood Re has set up a Bermuda-based affiliate, the company announced today. Beechwood Bermuda International Ltd will be headed by chief operating officer and head of underwriting Graham Mackay, who has joined Beechwood fr...