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A new Bermudian company is planned to reinsure $5 billion of annuities issued by American Equity Investment Life Holding Company. Värde Partners, a hedge fund, will establish the new reinsurer. The plan is the product of a strategic partnership betwe...

Life reinsurer Athene Holding Ltd is donating 200 laptops to the Bermuda public school system for the 2020-2021 school year. The donation aligns with Athene’s commitment to education-based initiatives in its communities as part of its broader corpora...

Reinsurance companies were hit financially on both sides of their balance sheets because of the impact of the Covid-19 pandemic. And there continues to be “significant uncertainty around the ultimate extent and distribution of Covid-19-related losses...

American Financial Group Inc has reached a definitive agreement to sell GAI Holding Bermuda and its subsidiaries, which comprise the legal entities that own its Lloyd’s of London insurer, Neon, to RiverStone Holdings Limited. When the transaction is ...

Almost three in four employees of a group of Bermuda’s international insurance companies are local, a report released today finds. The Association of Bermuda Insurers and Reinsurers said that the proportion of Bermudians, permanent residence certifi...

A record number of participants attended the Bermuda Captive Conference, which was held in a virtual format for the first time due to the Covid-19 pandemic. Organisers said that just under 900 people, from more than 30 countries, were part of the thr...

The Bermuda Monetary Authority has cancelled the insurance registration of Phoenix CRetro Reinsurance Company Limited, a special purpose insurer, for breaches of the Insurance Act 1978. The BMA said it was satisfied that the company was in breach of ...

Maamoun Rajeh has been appointed a director of the board of Women in Reinsurance, the organisation for professional women employed in the Bermuda reinsurance sector. He succeeds Stephen Young in the position. Mr Rajeh is chairman and chief executive ...

Ki, a Lloyd’s syndicate that uses algorithms to do its underwriting, has received $500 million of committed capital from two backers. The backing from funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings Ltd will help fun...

Wildfires that have burnt through nearly five million acres in California and other western US states, causing deaths and destroying more than 9,600 structures, will cost insurers as much as $8 billion, according to Moody’s. In a report, Moody’s anal...

Arcadian Risk Capital Ltd has launched a new underwriting operation based in Bermuda. The start-up will initially underwrite excess casualty and professional lines insurance. Arcadian has received its licence from the Bermuda Monetary Authority and w...

Phinsys, which provides finance automation software provider for the insurance sector, has launched a new product called Inform, which it said is in response to growing insurer demand for enhanced finance and accounting data analytics. Phinsys has an...