Bermuda

ERS’ recently rebranded (re)insurer IQUW has confirmed the appointment of Stephen Young as CEO for a new Bermudan division, as first revealed by this publication.

After their appointments, Ari Moskowitz and Peter Bell will report to Jim Williamson, Everest Re group COO and head of reinsurance.

The government supports efforts to create a minimum corporate tax and broaden taxing rights, but it warns of the impact on financial services and insurers.

The plan to invest an extra $200mn was laid out in the original deal between White Mountains and Ark announced on 1 October and completed on 1 January.

CEO Juan Andrade laid out the new targets in an investor day presentation in which he said the carrier will become a “digital first” (re)insurer.

The Bermudian start-up carrier adds professional lines to its growing list of product lines.

The exit follows news earlier this year that founding CEO Chris Fagan was stepping down to be replaced by Bruce Hemphill.

Davies most recently served as head of global Re specialty Bermuda for the firm’s reinsurance division.

Senior executives on the island saw the coordinated initiative as a clear long-term threat, but one that is mitigated by various other attractions of operating in Bermuda.

Axis Miami wrote direct and facultative property, political violence, energy, aviation and cyber risks, typically on a following market basis.

The carrier also promotes chief claims officer Kirsten Valder to chief administrative officer, effective 30 June.

Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.