Bermuda

The Bermudian total return (re)insurer affirmed Daniel Malloy as CEO and appointed him to the company’s board of directors.

The legacy carrier will use the base to acquire insurance entities in run-off.

The transaction likely values the business at between £140mn and £150mn.

The Bermudian (re)insurer’s earnings of $0.77 per share beat consensus a consensus estimate of $0.67.

The year-over-year improvement was driven by a 15.9-point improvement in its combined ratio and 26.7 percent growth in net investment income.

Albo is the first woman to serve as an elected officer of the Bermudian trade body.

Joshua Brekenfeld will report directly to Aspen chairman and CEO Mark Cloutier.

The chances of an MBO led by CEO David Reeves seem to be at an end, as a possible new Lloyd’s entry route opens for Premia.

I spent the early part of last week in Bermuda and, in between running for cover whenever it rained, my days saw me visiting contacts and hearing their thoughts on the current major market talking points.

The combined Lloyd’s business would write around $835mn on a pro-forma basis.

Meredith Head will join the reinsurer in September after more than 10 years at TMR.

The (re)insurer is expected to pick either its reinsurance or insurance CEO to replace group chief Dominic Addesso.