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Ascot Bermuda has appointed Devin Page as senior vice-president, casualty/specialty. Ascot said the new hire brings significant experience to Ascot, spanning both the insurance and reinsurance marketplace. Mr Page has held various influential positi...

Russia’s invasion of Ukraine likely will impact the global insurance industry substantially in the near to midterm, AM Best believes. The rating agency said this is probable, especially given the significant fallout in the capital markets and potenti...

Insurance payouts for people injured on the roads have been tripled after getting full Senate approval yesterday. The Motor Car Insurance (Third Party Risks) and Public Carriage Amendment Act 2022 was brought by the Reverend Emily Gail Dill, the juni...

Argo Group International Holdings, has reported a fourth quarter net loss attributable to common shareholders of $118.8 million, compared with a net loss attributable to common shareholders of $3.5 million for the 2020 fourth quarter. For the 2021 y...

One of the world’s largest insurance and reinsurance brokers, Aon, has joined the Association of Bermuda Insurers and Reinsurers (Abir). The association pointed out Aon’s significant and enduring presence in the Bermuda market for more than 50 years,...

Fitch Ratings has maintained its negative outlook on the ratings of SiriusPoint Ltd. (SPNT). Fitch affirmed SPNT ratings, including its BBB Long-Term Issuer Default Rating (IDR), BBB senior debt rating and A- (Strong) Insurer Financial Strength (IFS)...

Sony’s Bermuda captive has won acknowledgement of its outstanding financial strength and credit ratings by AM Best. The rating agency has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “A+” (Excellen...

Mosaic Insurance, the Bermudian-based specialty insurer, is activating more global capacity to meet transactional liability risks, as a growing consortia of industry partners joins its syndicated capital programme. The company said it would underwrit...

A friendly society has lost a legal battle to offer its members car insurance after a judge ruled their $20m compensation case had no chance in court. Puisne Judge Larry Mussenden said in a February 10 judgment the Bentley Friendly Society had adopte...

P&I Clubs will seek significant price improvements at the February 2022 renewal in response to deteriorating claims experience, said a Best’s Market Segment Report. The move comes after the costs of pooled claims were at a record high for the first h...

The Supreme Court will find out Wednesday afternoon just how sweet it is, the enhanced transaction terms offered by a unit of the Markel Group to buy out retrocessional reinsurance investment funds they are managing. The funds are already in run-off,...

Corporate mergers and acquisitions reached unprecedented levels in 2021, and a just-released PwC report forecasts that 2022 will be more of the same. The PwC report: Global M&A Industry Trends: 2022 Outlook said that a pent-up dealmaking desire left ...