Bermuda

Inver Re said the launch was part of its growing inter-disciplinary approach to reinsurance broking.

Plus the full Insider Honours winners list, people moves and all the top news from the week.

The firm’s leadership said a pattern of strong results is needed before triggering an IPO process.

Hurricane Earl is forecast to pass southeast of Bermuda, but tropical-storm-strength winds are predicted to hit the Island on Thursday.

ABIR reported that Bermudians posted a total loss ratio of 69.9% and a combined ratio of 100.1% last year.

Nat cat losses added 11.8 points to the combined ratio at 101.5% over five years on average, S&P has found.

Research from this publication exposed a dearth of female leadership in the Lloyd’s market.

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.