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The budget will let the Department for Financial Services run a competitive procurement process for an alternative to Demotech. -
The executive brings more than 15 years of industry experience, having worked for Neon and Validus Reinsurance.
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Some sources argue that now is the time for new management teams to tap into the market with fresh platforms.
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The former Gallagher Re broker is the second departure from the firm in Bermuda since the Willis Re sale.
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Richard Quinn becomes the latest to depart from a property cat-related role at Axis Capital.
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Insured losses in 2021 alone hit $20bn.
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ABIR reported that Bermudians posted a total loss ratio of 69.9% and a combined ratio of 100.1% last year.
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Former Natixis banker Alexandre Delacroix will focus on a range of capital market activities.
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Based in Austin and Dallas, Texas, the new company will provide fronting insurance to four US carriers.
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The carrier said its commercial business gave the company a platform to build on.
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In 2021, the US-Bermudian reinsurance composite’s combined ratio improved six points YoY.
