09/08/2023
New $1 billion long term re/insurer formed in Bermuda
Prismic will be led by Amy Kessler, a 30-year financial services industry veteran
AIM and Hedge Funds
09/07/2023
Apex Group expands US presence with Denver office
Apex Group currently has multiple client service delivery teams located in Denver, with plans to double headcount through the creation of new job opportunities in the coming year.
09/06/2023
Apex Group & EDB support econnext financing
EDB provided financing for a revolving credit facility.
09/06/2023
Mosaic syndicated capital programme closes in on $250m GWP target
Syndication brings a single solution to clients
09/06/2023
Guaranteed Capital and Income Plan 2026 II launched
Available from all BOV branches, investment centres and private banking
09/05/2023
EC gives go-ahead to RenRe purchase of Validus
The transaction was examined under the simplified merger review procedure.
09/05/2023
Ratings agency is more optimistic about the reinsurance sector
The outlook is based on an analysis of the top 20 global reinsurers, 14 of which are either based in Bermuda or have substantial Bermuda operations.
09/05/2023
AIG secures adverse development cover for Validus sale
The adverse development cover is expected to become effective at the time of closing of AIG’s sale of Validus Re to RenaissanceRe.
09/04/2023
FIMBank announces half-yearly pre-tax profit of USD 6 million
All subsidiaries surpassed the performance from the first half of the previous year
09/04/2023
Compre completes acquisition of Covéa subsidiary
This transaction further demonstrates our client-focused approach to supporting our partners in achieving their restructuring objectives.
09/01/2023
2023 Health & Social Care bursary launched
It offers prizes of £2,500 and £1,000 respectively, for the project and runner up voted to be most beneficial to the community.
09/01/2023
Hamilton Lane Invests In Private Markets Passport Technology
Private market funds have been gaining popularity among advisors as they continue to outperform the public markets.
09/01/2023
Wilton Re’s A rating affirmed by AM Best
AM Best said its operating earnings were favourable over the medium term
09/01/2023
Markel Bermuda joins committee of Vesttoo creditors
The payment also includes termination pay of $799,758 to which some creditors had objected and an earlier order by Judge Mary Walrath had refused.
08/31/2023
Lombard Bank sees profit jump
Share issue planned
08/31/2023
Bermuda-US reinsurers should improve underwriting results in 2023, says AM Best
“AM Best projects that premiums for the composite will further increase in 2023, as demand remains high, and rates in key lines of business continue to rise, particularly for catastrophe-exposed business.
08/30/2023
Mergers and acquisitions expected to bounce back in 2024
Various international forecasts predict that mergers and acquisitions activity should pick up in 2024
08/30/2023
Starstone Insurance rating affirmed
The ratings agency added that both companies ceased writing new business in July 2020, and SIBL has since disposed of its US subsidiaries.
08/29/2023
Decline in reinsurance capacity
The report notes: “Most of these losses were due to rising interest rates, widening credit spreads and heightened equity market volatility."
08/29/2023
Ratings agency raises re/insurer’s rating after investment firm takes controlling interest
“The closing of the recently announced Prudential ULSG deal later in 2023 will further diversify and more than double total reserves.”