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Insurance

Reinsurance

ILS manager Securis registers five insurance entities

London-based investment manager Securis had five entities registered in Bermuda during April, according to the Bermuda Monetary Authority’s monthly insurance incorporation statistics. The registrations were special purpose insurers (SPIs) Securis Re ...
May 07, 2014
Reinsurance

Argo reports $40.2m profit

Argo Group International Holdings Ltd made good on their initiative to expand margins with reported profits of $40.2 million for the first quarter ended March 31 — an increase of more than $7 million over the same period last year, and after-tax oper...
May 06, 2014
Reinsurance

Biggest catastrophe bond deal in history completed in Bermuda

The largest catastrophe bond transaction in history completed today and was admitted for listing on the Bermuda Stock Exchange (BSX). The $1.5 billion issuance through Bermuda special purpose insurer Everglades Re Ltd, will provide reinsurance covera...
May 02, 2014
Reinsurance

Montpelier posts 5.8% quarterly rise in book value

Montpelier Re Holdings Ltd’s book value per share rose nearly six percent during the first quarter as the Bermuda reinsurer benefited from a lack of catastrophe activity. The company posted operating earnings of $72 million, or $1.48 per share, crush...
May 01, 2014
Reinsurance

Hamilton Re hires Bernhard as head of internal audit

Hamilton Insurance Group has appointed Keith Bernhard as head of internal audit. In this newly-created position, Mr Bernhard is responsible for developing and executing a risk-based internal audit plan for Hamilton Insurance Group and its subsidiari...
May 01, 2014
Other

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
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