Bermuda

Q3 reserve releases were driven by an improvement in claims developments in most lines of its long-tail unit, as well as in its energy and property lines in the short-tail book.

Moves to push down London broker commissions highlights the options open to write reinsurance platforms in other markets.

The Canadian holding company increased its ownership in the Bermudian carrier to 82.9% from 70.9%.

In a Q3 earnings call today, Arch CEO Marc Grandisson also told investors that events like Hurricane Ian “almost always result in opportunities”.

Arch Capital has pegged its estimated Q3 pre-tax net catastrophe losses at $530mn-$560mn, impacted by Hurricane Ian, as well as other events like US convective storms, Typhoon Nanmadol and hailstorms in France.

The executive will report directly to SiriusPoint CEO Scott Egan, who joined SiriusPoint from RSA in early September.

The full-year results for 2021 also show the Bermudian start-up held $333mn of net premiums written, as at December last year.

The incoming CUO joins from InsurTech MGA Kettle, where he was also CUO.

The shares expected to be bought back in the tender offer represent around 11.5% of White Mountains' shares outstanding as of 19 August.

The Bermudian will also collaborate with Insurate in developing and underwriting products in the medium- to high-hazard workers’ compensation segment.

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.