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Bermuda-based Aspen Insurance Holdings Ltd yesterday said Mario Vitale will become its sole insurance CEO, taking a role that had previously been shared with Rupert Villers. Mr Villers, the co-CEO of Aspen Insurance will assume a new position from Ju...

Tropical Storm Debby, the first named storm of 2012 to move into the Gulf of Mexico, moved slowly over the northern Gulf of Mexico on Monday, dumping heavy rains and threatening to bring flooding and tornadoes to parts of Florida. Now catastrophe mod...

Deemed the Titanic of 2012, the wreck of luxury liner Costa Concordia cost Bermuda-based reinsurers billions of dollars. To learn from the tragic accident, the Bermuda Insurance Institute (BII) is holding a marine insurance seminar aimed at those who...

Bermuda reinsurers can expect the claims to roll in after a Texas hailstorm last week caused an estimated $2 billion in insured losses. The baseball-sized hailstones put dents in cars, broke windows and damaged homes in the Dallas area. Meanwhile the...

Three of Hamilton’s landmark office buildings are undergoing makeovers and have come under new commercial management with a view to securing new tenants. Cumberland House on Victoria Street, Chevron House on Church Street and Craig Appin House on Wes...

Mid-year renewals for Bermuda reinsurance companies rose less than hoped, as new capital came into the market to offset the impact of last year’s catastrophe losses, according to research by analysts from Keefe, Bruyette & Woods (KBW). The report con...

Former XL CEO Brian O’Hara is close to opening the door to what he believes could be a significant new line of business for the Bermuda insurance market. Through a Bermuda company called Front Street Advisors Ltd, Mr O’Hara and his partners have been...

The influx of investment capital into global insurance markets could be a ‘game changer’, say insurance executives. A panel of Bermuda-based CEOs at the Insurance Day Summit yesterday agreed that the “deluge” of capital from investors hoping to see s...

Bermuda is on track for achieving equivalency with Solvency II, according to the deputy governor of the Central Bank of Ireland, Matthew Elderfield. Speaking at the Insurance Day Summit in Hamilton yesterday, Mr Elderfield, who was the CEO of the Ber...

Insurance veteran Michael Butt says that if there’s one thing he’s learned from nearly five decades in the industry, it’s the importance of knowing exactly “who owns the risk”. If that is in any way unclear, it leads to lack of discipline and potenti...