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Insurance
Chinese conglomerate Fosun said that its Bermuda-based specialty property/casualty insurer Ironshore made a net profit of $115.7 million in 2016 while producing an underwriting loss with a combined ratio of 102.1 percent. Premium income was 2.20 billion during the period. 29 March 2017
Insurance
Following the acquisition of Bermuda-based Endurance, Sompo Japan Nipponkoa Insurance has launched a fully integrated global commercial insurance and reinsurance platform based in Bermuda, which has been named Sompo International. The new corporation will have its own board, led by John Charman as chairman and CEO, reporting to the Sompo CEO Kengo Sakurada. 29 March 2017
Insurance
Bermuda-based Everest Re Group has appointed Christopher McKeon to lead the commercial casualty unit within the risk management group of its subsidiary, targeting upper middle market clients within select industry segments. 29 March 2017
Insurance
Former Endurance CEO Ken LeStrange retired as the chairman of US-based Orchid Underwriters' board of directors, the company said. He will be replaced by Steven Carlsen, who was also a founding member of Bermuda-based Endurance Specialty Holding. 28 March 2017
Insurance
Hiscox's head of marine and energy, Simon Williams, has left the company, according to a spokesperson. 27 March 2017
Insurance
Bermuda-based specialty re/insurer Endurance Specialty Holdings has appointed Brad Gow to the new role of global cyber product leader. 24 March 2017
Insurance
Bermuda-based Ironshore Specialty Casualty has modified its transition protection policy form to address contractual exposures related to an organisational merger or acquisition (M&A) specific to the construction industry. 10 March 2017
Insurance
Specialty re/insurer Brit has expanded the collateralised reinsurance capacity provided by Bermuda-domiciled special purpose insurer Versutus to support its North American property insurance portfolio. 9 March 2017
Alternative Risk Transfer
Insurance-linked securities’ (ILS) issuance contracted for a second consecutive year in 2016, according to the latest Bermuda Insurance-Linked Securities (ILS) Market Report. 8 March 2017
Insurance
Bermuda-based OneBeacon Insurance Group has appointed Manning Rountree as class III director, succeeding Ray Barrette who has retired from the company and its parent White Mountains. 7 March 2017
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