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Premier leads efforts to market Island at RIMS conference

Bermuda has to defend itself against other jurisdictions muscling in on its business territory, says Premier Craig Cannonier. Mr Cannonier, speaking from a major insurance industry conference in the US, added: “In any business sector, it’s about cust...
Apr 30, 2014
Reinsurance

White Mountains book value grows 2.2%

Shares of White Mountains Insurance Group fell slightly yesterday after the re/insurance group announced that net income slid 17 percent in the first quarter compared to the same period last year. The Bermuda-based company, whose operations include i...
Apr 29, 2014
Other

Florida in reinsurance storm as travel to Bermuda is questioned

The Palm Beach Post is reporting that state-run insurer Citizens’ board chairman has been twice to Bermuda and once to London as approval was given for the purchase of private reinsurance costing up to $300 million in 2014. Chairman Chris Gardner sho...
Apr 28, 2014
Other

‘Whole gamut’ of insurers register in first quarter

The Bermuda Monetary Authority (BMA) has reported that 12 new insurance companies have registered in Bermuda. Craig Swan, managing director, supervision at the BMA said: “Bermuda remains attractive due to our unique ability to service the full spectr...
Apr 28, 2014
Other

Kathleen Reardon ‘entrusted’ with Hamilton Re as new CEO

A founding member of Hamilton Re’s management team, Kathleen Reardon, has been promoted to the position of chief executive officer of Hamilton Insurance Group’s Bermuda-based Class 4 property casualty reinsurer. Chief executive officer of the $800 mi...
Apr 28, 2014
Reinsurance

Everest Re to use alternative capital ‘increasingly’

Bermuda-based reinsurer Everest Re Group says it will be using alternative capital increasingly as it comes close to closing its first catastrophe bonds. That was the view expressed by Everest CEO Dominic Addesso in an earnings statement that showed ...
Apr 25, 2014
Reinsurance

Carmilani: Allied World’s year off to a great start

Allied World has reported a 79.9 percent combined ratio for the first quarter of 2014, an achievement which has pleased chief executive officer Scott Carmilani as earnings crushed analysts’ expectations. The Switzerland-headquartered re/insurer’s und...
Apr 24, 2014
Reinsurance

Aspen raises dividend after profit rises by a third

Aspen Insurance Holdings Ltd’s first-quarter profit rose by nearly a third compared to the same period last year to $120.4 million, as the company trounced Wall Street’s expectations. The Bermuda-based insurer and reinsurer, which is the subject of a...
Apr 24, 2014
Reinsurance

ABIR members report increased profits

Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) saw their profits increase in a year of low catastrophe activity. Releasing 2013 underwriting results on Thursday, ABIR said profits totalled $11.7 billion in 2013 for the ...
Apr 17, 2014
Reinsurance

Platinum shares rise 4% on earnings

Shares of Bermuda reinsurer Platinum Underwriters Holdings Ltd climbed nearly four percent in New York trading on Thursday after the company reported first-quarter net income of $63.7 million. Platinum shares were up $2.35, or 3.9 percent, to close a...
Apr 17, 2014
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