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The result compares with $178 million for the quarter ended September 30, 2023

The group is the majority owner of Skyport, which operates LF Wade International Airport

The ratings agency says that traditional reinsurers have increasingly utilised the ILS market to backfill unmet property risk needs

Completion of the transaction follows receipt of regulatory approvals

The company reported total shareholder return of 19.4 per cent annualised

The firm’s net income available to common shareholders was $173 million

That compares with net income available to common shareholders of $713 million for the 2023 third quarter

Industry veteran takes on the role of International Reinsurance operating officer

Firm says appointments reflect its strategic commitment to the recruitment and retention of exceptional Bermudians

The firm also reported net income of $2.32 billion in the third quarter, up 13.8 per cent