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Insurance
Brit renews and expands reinsurance sidecar to $110m
Specialty re/insurer Brit has renewed and expanded the collateralised reinsurance capacity provided by the Bermuda domiciled special purpose insurer Versutus, to support its property treaty portfolio for 2017.   9 January 2017
Insurance
Arch penalised by Moody's United Guaranty deal with downgrade
The insurance financial strength (IFS) rating of Arch Capital's principal P&C re/insurance operating subsidiaries has been downgraded to A2 from A1 by Moody’s. The outlook for these ratings is stable.   6 January 2017
Insurance
RenaissanceRe becomes latest reinsurer to create new sidecar
RenaissanceRe has become the latest Bermuda-based reinsurer to form a sidecar, following in the footsteps of Liberty Mutual and Aspen, which launched or renewed sidecars in December last year.   4 January 2017
Insurance
Arch completes acquisition of AIG’s UGC business
Bermuda-based Arch Capital Group (ACGL) has completed the acquisition of United Guaranty Corporation (UGC) from American International Group (AIG), further expanding its footprint in the mortgage insurance market.   4 January 2017
Insurance
Enstar’s legacy unit steps outside insurance in $90m innovative deal
Bermuda legacy specialist Enstar has acquired the subsidiary of an auto parts manufacturer in a deal that means it takes on the liabilities associated with personal injury asbestos claims and environmental claims associated with legacy manufacturing operations as well as assets held to fund obligations related to these liabilities.   3 January 2017
Insurance
XL Group appoints new director of finance functions
Re/insurer XL Group has appointed Abbe Goldstein to succeed David Radulski as director of investor relations, following Radulski’s retirement in March.   3 January 2017
Insurance
Re/insurance executives fear large losses will hit 2017 profitability
As the re/insurance sector faces another year of soft pricing environment in 2017, market participants fear that large losses could significantly hit profits, which have been protected by the benign cat environment in recent years.   27 December 2016
Insurance
Liberty Mutual’s Limestone Re heralds a return to leveraging third-party capacity
Liberty Mutual Insurance has launched a new capital markets platform that will initially leverage the newly-formed Bermuda-based Limestone Re to offer the insurer easy access to fully-collateralised third-party reinsurance capacity.   22 December 2016
Insurance
Ironshore launches unit to target complex manufacturing risks including AI
Ironshore has launched a new unit purposed to underwrite coverages for manufacturers with a focus on complex risks including artificial intelligence, robotics and digital manufacturing tools.   22 December 2016
Insurance
After Fairfax acquisition: Allied World set on ‘CreditWatch Negative’ and ‘under review with negative implications’
S&P Global Ratings has placed Switzerland-based Allied World on CreditWatch with negative implications and AM Best has placed it under review with negative implications after the global specialty and property/casualty insurer agreed to a $4.9 billion acquisition by Canada’s Fairfax.   21 December 2016

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