Bermuda insurers have lowered their net catastrophe exposure in 2017 compared to the previous year by about 2.0 percent, according to a Nov. 30 Catastrophe Risk in Bermuda report by the Bermuda Monetary Authority (BMA).
The new digital player that Allianz is creating in Europe is set to serve as an example of what the existing agent-based units could achieve if they modernize processes, CEO Oliver Bäte said during a Nov. 30 press conference.
Insurance-linked securities (ILS) issuance volume declined 26 percent year on year to $5.1 billion of new risk capital issued in the second quarter of 2018, according to the latest Bermuda Insurance-Linked Securities (ILS) Market Report.
AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+” from “a-” of Puerto Rico-based Integrand Assurance Company while placing the Credit Ratings (ratings) under review with negative implications.
AM Best has removed from “under review with negative implications” the rating of Sirius Bermuda Insurance Company, Sirius International Insurance Corporation and Sirius America Insurance Company as the Nasdaq listing of the group boosts the independence from its Chinese parent.
Re/insurance broker Miller has hired Laurence Guguen for its credit and political risks team to grow its structured trade and commodity finance capabilities.
UK-based Allianz Insurance, part of the Allianz Group, has appointed Helen Bryant to the role of director of SME (small and medium-sized businesses) and corporate partnerships.
US insurer WR Berkley has appointed Brad Nieland as president and CEO of Berkley Accident and Health.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Labuan Reinsurance.
US-based Lemonade is coming to Europe – its first major market outside of the US, Daniel Schreiber, CEO and co-founder, announced in a November 29 blog.