Articles

Insurance

Randall & Quilter provides legacy reinsurance for Bermuda captive

Randall & Quilter Investment Holdings (R&Q) has issued a loss portfolio transfer reinsurance, covering workers’ compensation, product, auto, and general liability risks, for a Bermuda domiciled captive.   8 August 2019

Insurance

Assured Guaranty to acquire asset management firm BlueMountain for $160m

Bermuda-based Assured Guaranty has entered into an agreement to purchase all of the outstanding equity interests in BlueMountain Capital Management and its associated entities for approximately $160 million.   8 August 2019

Insurance

Beecher Carlson appoints Bill Daly as chief operating officer

Broker Beecher Carlson Insurance Services, the specialised large account subsidiary of Brown & Brown, has appointed Bill Daly as chief operating officer (COO).   7 August 2019

Insurance

Enstar and Maiden Re finalise ADC deal with AmTrust

Bermuda-based Cavello Bay Reinsurance, a subsidiary of global insurer Enstar, has completed an adverse development cover (ADC) reinsurance deal with Maiden Reinsurance.   6 August 2019

Insurance

Credit ratings agency AM Best upgrades reinsurer PartnerRe on strength of balance sheet

Global credit ratings agency AM Best has upgraded PartnerRe and its operating subsidiaries to the financial strength rating (FSR) A+ (Superior) from A (Excellent), while the group’s long-term issuer credit ratings (LTICR) has improved to “aa-” from “a+”.   6 August 2019

Insurance

New Bermuda reinsurer 777 Re sets up on island; discloses first $307m annuity deal

777 Re, a newly formed Bermuda-based reinsurance company, has completed a $307 million annuity block reinsurance transaction with an undisclosed US-based insurance company.   5 August 2019

Insurance

Hudson Structured Capital Management hires former Validus CFO Jeff Sangster

Re/insurer Hudson Structured Capital Management (HSCM Bermuda) has appointed Jeff Sangster to the post of partner, chief financial officer (CFO) and head of strategy.   5 August 2019

Insurance

AXIS Re hires Swiss Re's Jason Busti as president of North America

AXIS Re, the reinsurance business segment of Bermuda-based AXIS Capital Holdings has appointed Jason Busti as president of North America.   2 August 2019

Insurance

SOBC DARAG targets US expansion with new Bermuda hub; hires team from R&Q

SOBC DARAG, a subsidiary of run-off specialist DARAG UK, has launched a new office in Bermuda with four senior hires from Randall & Quilter, in a move aimed at "significant expansion" in North America and on the island.   1 August 2019

Insurance

Markel buys $212.5m stake in MGA Hagerty Group

Specialist insurer Markel has acquired a minority ownership interest in managing general agent (MGA) The Hagerty Group for a total consideration of $212.5 million.   1 August 2019

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