Bermuda

Casualty premiums grew 48% and the company raised $663mn in new capital for its alternative capital vehicles.

Martello Re will initially provide MassMutual with reinsurance capacity before opening up to other parties.

In addition, Fortitude Re’s subsidiary Fortitude Reinsurance Company has obtained approval to operate as a reciprocal jurisdiction reinsurer in the US.

Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.

Former Navigators CEO Vince Tizzio has joined as a senior adviser and will transition into the CEO role on June 1.

Both gross and net exposures increased in the pandemic year, but net PMLs rose faster, a modelling report from the BMA shows.

Juan Andrade’s employment agreement has been extended through the end of 2023, with automatic annual extensions following this term.

The hire reunites Rene Lamer with fellow Sompo alumnus Stephen Young.

Based in Zurich, Jörg Bruniecki will take up his new role in 2022, reporting to MS Amlin AG CUO Charles Goldie.

Liz Cunningham, Watford’s chief risk officer, has been named its new CEO, as the company said that ratings agency AM Best had affirmed the outlook on its A- FSR to "stable".

Brid Reynolds will be responsible for the oversight and development of risk functions globally.

The broking group has hired Sussex Capital’s Adam Champion and investment banker Niall Baird for the new venture.