Bermuda

The two associations will work together on six matters, including climate change, cyber risks and taxation.

The group structure would constitute a Bermuda-based rated carrier, and an associated fund structure.

The executive has over 20 years of specialty insurance experience and most recently served as Everest’s head of financial and professional lines.

Vesttoo has filed documents at the Bankruptcy Court for the District of Delaware that seek an automatic stay against White Rock and its putative liquidators.

The company's Ebitda for 2022 was estimated at $60mn compared to $20mn in 2021.

Both organizations have agreed for the appointment of a liquidator for Vesttoo transaction structures at the Supreme Court of Bermuda.

The Inside P&C Research Team has examined the impact on 2025 earnings for Bermudians of a proposed corporate tax rate of 15% for large multinational firms in Bermuda.

The Bermuda-based specialist said the capital injection will boost its talent acquisition and product development plans.

If you only read a handful of articles this week, make it the selection below.

The deal represents RenRe’s third Bermuda consolidation deal following Platinum and TMR.

The portfolio comprises of large deductible and guaranteed-cost workers’ compensation policies.

Most of the losses were sustained by the reinsurance segment, which reported $108mn in pre-tax cat losses, compared with $110mn in the prior year period.

The affirmation follows an SEC filing by activist investor and Third Point Re founder Dan Loeb last week, in which he disclosed intentions to take the company private.

The BMA also expects Bermudian insurers to consider double materiality in their reporting, as well as their own external climate-change impact.

Ching said young brokers were “out of their depth” and did not know where to find capacity at the 1 January renewal.

Argo’s first bids included an implied firm value of $49.71 per Argo common share and $40 per share in cash, among others.

Pre-tax current accident year net cat losses for the insurance and reinsurance segments totaled $34.6mn for the quarter, nearly half of the $72.3mn figure posted in Q4 2021.

The cat XoL rate increase in Europe was over 40%, while the average attachment point of the global property cat business increased “meaningfully,” he added.

The Bermudian reported $15mn in catastrophe losses for the quarter, down from $125mn in the same period last year.

The January 1 renewal for 2023 was “one of the most profound” the company has ever had, the CEO said.

The R&Q founder had been linked to 777 since its attempted acquisition of the listed firm.

Based in Bermuda, the executive will oversee the firm’s investments in technology and support its growth initiatives.

The Bermuda Monetary Authority expects carriers on the island to take a 25% share of the total industry loss.

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.