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.

Large visiting contingents from Florida to the Bermuda Risk Summit highlighted ongoing concerns around cat capacity availability.

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.