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Proposed spending cuts included in the 2021/22 Budget statement could be tough to maintain, an economist warned yesterday. Peter Everson, a businessman and former president of the Chamber of Commerce, said: “The hard part, as always, is will the Gove...

Bermudian-based international speciality insurance and reinsurance outfit SiriusPoint Ltd launched today with more than $3 billion in initial capital. The company has been formed as the result of the previously announced merger between Third Point Re...

Reinsurance price increases fell short of a hard market during January renewals, say analysts from S&P Global Ratings. In a report released today, the ratings agency said reinsurers were “left wanting more”, but that expectations for rate rises remai...

PartnerRe’s full-year net income fell to $206 million for 2020, as the company incurred net losses of $397 million related to Covid-19. The profit fell from $890 million in 2019, after what chief executive officer Jacques Bonneau described as a year ...

Bermuda has attracted billions of dollars of new re/insurance capital over the past year, but the pace of the multiyear growth in third-party structures such as insurance-linked securities has slowed. That is the view of analysts from ratings agency...

Insurance industry veteran Grainne Richmond has been appointed president of the Bermuda Insurance Managers Association. Ms Richmond is to take up the position at the volunteer non-profit organisation on March 1. She will be joined on the Bima executi...

Bermudian-based Conduit Holdings Ltd, the parent company of new Class 4 reinsurer Conduit Re, has reported a loss after tax of $4.6 million for the period ending December 31. Conduit Re is part of the “class of 2020” group of companies that have been...

The Bermuda Business Development Agency will host a virtual panel discussion as part of NetDiligence’s three-part webinar series about cyber-related issues. The panel, to be held on March 4 from 11am until noon, is entitled “Bermuda Cyber Market: A J...

Bermudian re/insurance industry veteran Kavan Tucker is to join the global markets team at Axis Re as a senior mortgage underwriter in the firm’s Bermuda office. Mr Tucker will take up his post at the reinsurance business segment of Axis Capital Hold...

Bermuda’s reputation as a place for insurance run-off excellence grew continually in 2020, a leading executive in the Bermuda office of professional services firm PwC has said. James Ferris, a partner and leader of the Bermuda Advisory practice, said...

Bermudian run-off specialist Premia Holdings Ltd has entered into an agreement to acquire Armour Re Ltd in an all-share transaction. Armour Re is also Bermudian-based and is a property and casualty legacy reinsurer and subsidiary of Armour Group Ltd,...

Third Point Re’s chief executive officer Dan Malloy is to become president, global distribution and head of runoff, at SiriusPoint Ltd following the merger of Third Point Re Ltd and Sirius International Insurance Group Ltd. The merger is expected to ...