Bermuda

The combined ratio improvement was driven by an increase in net premiums earned, favorable development of net loss reserves from prior accident years and current devaluation.

The carrier said its ultimate net losses in Ukraine since the start of the conflict were towards the lower end of its initial range, at $22mn.

The company’s property segment booked a combined ratio of 57.6%, 13.8 points higher compared to Q2 2021 due to a higher attritional loss ratio.

The former Chubb exec will remain on the board as an independent director, along with president and CEO Jacques Bonneau.

Peter Kiernan replaces Simon Penney, who is moving to an analytics role.

David Rocke becomes group head of M&A, Jamie Saunders CUO and David Alexander strategy director.

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.

A BDA report found that more than 30% of Bermudian carriers have integrated ESG into underwriting.

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.

ABIR is pushing back on behalf of the Bermuda cohort of companies, whose debt is significantly impacted.

The agency also affirmed the long-term issuer credit ratings of A- (excellent) on Hamilton Re and Hamilton Insurance Designated Activity Company.