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Insurers and reinsurers are likely to have to venture into unchartered territory in their search for growth over the next decade, according to a top industry adviser. David Law, PwC’s global insurance leader, sees major opportunities for the industry...

More than $30 billion has gone into specialised insurance linked securities over the last three years alone — and that figure will continue to grow, a Bermuda business chief told a conference yesterday. Arthur Wightman, a partner and insurance leader...

Bermuda is at the centre of an evolving market in risk, a top insurance consultant said today. Arthur Wightman, managing director and insurance leader at PwC, said: “What I am saying is that over the last 12 months you have seen this domicile engage ...

Convergence 2013 is an event for investors, reinsurance and insurance companies and service partners to meet, network and learn about ILS such as catastrophe bonds. The two-day event, organised by ILS Bermuda, is being held in the newly renovated Pie...

Reinsurers could take over the US flood insurance programme from the US government, according to Validus Holdings CEO Ed Noonan. Speaking on a panel at the PwC/S&P Bermuda (Re) insurance Conference yesterday, Mr Noonan said flood coverage was one are...

Proposals by some US lawmakers to raise more taxes from non-US reinsurers — including those based in Bermuda — would damage the industry’s ability to bear more flooding and terrorism risks, a hearing in Washington heard yesterday. The subject was tou...

Third Point Reinsurance Ltd posted third-quarter net income of $46.6 million yesterday, as it declared its first quarterly financial results as a public company. The earnings, which broke down to 46 cents per share, were up 17.7 percent compared to t...

Smaller reinsurance firms may have to amalgamate to survive tough economic times, a major conference heard yesterday. And new markets — like the risk of conventional terrorism, particularly in the US — and China could create new demand for insurance ...

A booming market in insurance linked securities in South Korea could bring extra business to Bermuda, an expert said yesterday. Jason Carne, a managing director at global accountancy firm KPMG, said: “Breaking into new markets such as Korea, which ca...

Bermuda reinsurance firm SAC Re is still on the hunt for a buyer after a US firm owned by a major investor was fined a record $1.8 billion in the US on charges of securities and wire fraud. Steven Cohen’s Connecticut-based SAC Capital, a hedge fund, ...

Organisers of ILS Bermuda’s Convergence 2013 say they believe that the international attendees coming to Bermuda next week for the insurance linked securities (ILS) event will deliver a welcome economic boost. Convergence 2013 should also showcase th...