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BMA to consider regulating insurance by friendly societies

Friendly societies are issuing insurance policies, the Bermuda Monetary Authority has learned. The BMA are now warning the holders of the insurance policies that they are unregulated by the BMA. As a result of the discovery, the BMA are now consideri...
Mar 20, 2014
Reinsurance

Bermuda remains the top offshore captive domicile

Bermuda remains the world leader among offshore captive domiciles — despite recording a decrease in the number of captives on its register. The Bermuda Monetary Authority (BMA) confirmed yesterday that there were 831 captive insurers based in Bermuda...
Mar 19, 2014
Reinsurance

CATCo launches new $110m ‘traditional reinsurance’ fund

Bermuda-based CATCo Investment Management Ltd has launched a new fund, the firm’s first to be focused on “traditional reinsurance risk”, with initial capital of $110 million. The specialist insurance-linked securities manager and adviser to the CATCo...
Mar 18, 2014
Reinsurance

ABIR hosts University of Georgia students

The Association of Bermuda Insurers and Reinsurers (ABIR) hosted 12 University of Georgia business students for a two-hour workshop on the history and importance of the Bermuda insurance market. The workshop highlighted the leading role Bermuda has...
Mar 18, 2014
Reinsurance

Cash: ILS growth does benefit Island’s economy

Does the powerful growth in insurance-linked securities actually benefit the Bermuda economy? While questions remain about the job-making potential of a sector that has produced a proliferation of capital structures to meet reinsurance needs, rather ...
Mar 13, 2014
Reinsurance

Reinsurance demystified this week

Demystifying Reinsurance is a workshop for insurance and reinsurance company employees at all levels — intermediaries; attorneys specialising in reinsurance; insurance company professionals; as well as regulators and staff. Scheduled for Wednesday, M...
Mar 12, 2014
Reinsurance

Report: Byrne’s Sportscover deal in doubt

Former Bermuda-based insurance executive Mark Byrne’s Sportscover deal is in danger of unravelling, according to a UK insurance news website. Mr Byrne is founder of class of 2005 Flagstone Re. His proposed deal to acquire the struggling Lloyd’s manag...
Mar 11, 2014
Reinsurance

Allianz is insurance leader for missing aircraft

Willis Group Holdings PLC confirmed yesterday that they brokered the hull and liability coverage for the Malaysia Airlines which is assumed to have crashed into the sea on Saturday. A spokesman for Willis said: “I can confirm that Willis is the broke...
Mar 11, 2014
Reinsurance

Blend of expertise will keep Bermuda at centre of ILS growth

Bermuda will remain at the forefront of the burgeoning convergence between the reinsurance and asset management industries, because it has an exceptional mix of expertise in both areas. That is the view of Craig Redcliffe, partner and insurance leade...
Mar 10, 2014
Reinsurance

Guy Carpenter names new Bermuda chairman and CEO

Guy Carpenter & Company has announced a management shake-up which will bring a new chairman and a new CEO to the reinsurance broker’s Bermuda office. Kevin Fisher, CEO of Global Specialties, will relocate from Bermuda to the firm’s London office. Pet...
Mar 06, 2014
Reinsurance

LeStrange to be Pine River Re chairman — report

Former Edurance CEO Ken LeStrange is reportedly set to take the role of chairman at new hedge fund-backed reinsurer Pine River Re. The move, reported by The Insurance Insider citing unnamed sources, would reunited Mr LeStrange with his former Endura...
Mar 06, 2014
Reinsurance

ILS growth expected to accelerate

Investors are expected to continue ploughing money into insurance-linked securities at an ever greater pace this year — with most of the activity centred on Bermuda. And analysis by PwC suggests that third-party capital is there as part of long-term ...
Mar 06, 2014
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