Bermuda
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The Bermuda-based InsurTech will deploy a combination of its own and rated paper capital. -
Openly completed its first significant catastrophe excess of loss placement, with a diverse panel of reinsurers across London, Bermuda and the US.
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A BDA report found that more than 30% of Bermudian carriers have integrated ESG into underwriting.
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The (re)insurer revealed it has “limited exposure” to the Ukraine-Russia conflict and did not make a loss provision due to the degree of uncertainty.
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ABIR is pushing back on behalf of the Bermuda cohort of companies, whose debt is significantly impacted.
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The agency also affirmed the long-term issuer credit ratings of A- (excellent) on Hamilton Re and Hamilton Insurance Designated Activity Company.
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Shanna Lespere joined the BMA in 2004 and has held various roles at the authority including COO for the past seven years.
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The regulatory body also underlined the need to manage risks and uncertainties relating to the war.
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A report from the Bermuda Monetary Authority shows how the island’s carriers have raised their worst-case estimate of cyber losses in recent years.
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Argo Re kept its A- (excellent) financial strength rating.
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In addition to Malloy’s departure, Mark Parkin notified the reinsurer of his intent to resign from the board of directors for personal reasons.
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Fontana investors will face a short lock-up period in the sidecar’s ramp-up phase, but thereafter there will be some “embedded liquidity.”
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