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Aspen Bermuda Ltd’s insurance financial strength rating has been downgraded to A3 from A2 by Moody’s. The same downgrade has been made to Aspen Insurance UK Ltd. The rating agency said the move reflected Aspen’s “diminished earnings power and difficu...

One of the reinsurance industry’s key gatherings has been cancelled for 2020 due to disruptions and restrictions caused by the Covid-19 pandemic. The Baden-Baden Reinsurance Meeting in Germany was to have been held from October 18 to 22. It normally ...

Increased prominence has been given to the environmental and socially responsible side of a multibillion-dollar investment asset class in which Bermuda is a market leader. A discussion about insurance-linked securities has highlighted the growing acc...

Hundreds of millions of dollars worth of insurance-linked securities providing mortgage reinsurance coverage may face losses as US delinquency rates surge. Bermudian-based mortgage re/insurer Essent Group has reported that all of its mortgage ILS tra...

Bermuda’s leading insurers and reinsurers donated more than $3 million to local charities during the Covid-19 pandemic. During the first six months of the year, members of the Association of Bermuda Insurers and Reinsurers donated $3.1 million of sup...

Two experts on climate risk and resilience strategies will be panellists on a webinar hosted by the Bermuda Business Development Agency this month. Samantha Medlock, senior counsel for the US House select committee on the climate crisis, and Collin O...

Convex Group’s first catastrophe bond secured $300 million of reinsurance coverage. The insurer and reinsurer, which was founded by industry veteran Stephen Catlin last year, sponsored the transaction through the Bermudian special purpose insurer Hyp...

An alternative capital reinsurance transaction has been completed between Axa XL Reinsurance in Bermuda, and Bluefire Insurance, a Texas-based managing general agency. As a result, Bluefire will assume risk from its personal auto portfolio through a ...

A free webinar discussing Bermuda’s international business sector through and beyond the Covid-19 pandemic will feature Curtis Dickinson, the finance minister. The Bermuda Business Development Agency, Intelligent Insurer and Bermuda Re+ILS are hostin...

A Bermudian-based (re)insurer is searching for a new chief financial officer. Argo Group International Holdings is looking for a successor to Jay Bullock, who is leaving the company after 12 years. Argo said it has started an outside search for his r...

Reinsurance industry finances have bounced back after the sector’s capital base dipped by almost one third as the Covid-19 pandemic gripped the globe in March. The recovery meant the amount of capital in the sector, a major part of Bermuda’s economic...

A $30,000 scholarship has been awarded to former CedarBridge Academy student Taiyana Allen, by the Bermuda International Long Term Insurers and Reinsurers. Ms Allen, 21, of Southampton Parish, will use the money to study at Georgia State University i...