Bermuda
-
Paragon insurance will acquire the business, which will continue to write on Argo paper. -
A London banking source tipped Covea as a suitor for the Bermudian reinsurer.
-
The new funds raised at 1 January are dedicated to its retro-focused Upsilon fund and its Medici cat bond strategy.
-
IGI will become a listed carrier on completion of the deal.
-
The carrier’s share price fell to $21.16 per share at close of markets.
-
The stock-performance-related plan comes as the carrier extends Dominic Silvester's contract, and those of the president and COO, by three years.
-
Our (re)insurance benchmark largely shrugs off wider equity-market losses driven by coronavirus fears.
-
The carrier is to book $140mn of weather-related losses and $29mn from agricultural reinsurance.
-
The underwriter was one of the staff to leave Barbican following the Arch acquisition.
-
The coverholder is the first multi-line, independent MGA to be incorporated in Bermuda.
-
The board strengthening follows Catalina's agreement last year to buy Asia Capital Re
-
Rate growth fails to meet early expectations but the market is clearly tightening in aggregate.
