Hints and tips:
...Aspen is owned by private equity group Apollo and sells insurance and reinsurance through the Lloyd’s of London market as well as in Bermuda and the US....
...Supportive regulators help explain the success of rival centres such as Bermuda....
...The Bermuda Monetary Authority declined to comment. The Utah state regulator declined to comment on A-Cap. AM Best declined to comment....
...Lloyd’s of London and Arch Insurance are listed as representative defendants on behalf of the multiple insurers on the policies....
...Lloyd’s of London hopes a new investment structure it has agreed with UK financial regulators will attract billions of dollars in alternative capital and boost its competitiveness with other hubs such as Bermuda...
...Bermuda itself is central to Athene’s strategy and its original home before merging with US-based Apollo. Of its $24bn in total equity capital, $18bn is stationed in Bermuda entities....
...Lloyd’s has lagged behind on insurance-linked securities (ILS), which allow investors to back insurance policies directly, bypassing traditional insurance companies....
...The lawsuits stalled when a court in Bermuda ordered US-based Athene shareholders to drop their action in New York, saying they should litigate the issue on the island territory where Athene was registered...
...Incorporated in Bermuda, advised by Apollo and initially owned by the firm’s clients, the insurance company made a permanent business out of what Rowan had originally conceived as a one-off trade in AEL....
...The company will be based in Bermuda but will also have operations in London. It has no plans to open a syndicate at Lloyd’s of London this year....
...Bermuda-based insurer RenaissanceRe is aiming to raise around $900m in the industry’s biggest equity issue since the crisis began....
...Covéa/Scor: insurance M&A gets messy Insurers are meant to be boring and reliable....
...Dan Loeb’s Third Point, specifically Third Point Reinsurance Ltd, was ready to be lucky....
...Pitts Bay Road in Bermuda is a who’s who of global insurance....
...Travel insurance claims alone are expected to top £275m for Covid-19 related claims....
...The PPL platform, which allows insurance policies to be created electronically rather than on paper, was introduced into the London insurance market in 2016....
...Shares in insurance company Hiscox dropped sharply on Thursday as worries grew about the scale of claims the company is facing in the US....
...Mr Siddiqui said the insurance company’s legal claims against him should be decided in the US, but district judge John Koeltl disagreed, finding that Bermuda was the proper forum....
...London insurance rates have risen 4 per cent this year, says Hiscox. Some see an opportunity. Another London market veteran, Stephen Catlin, recently raised $1.8bn for a Bermuda-based venture....
...Activist investor Voce Capital will make a rare assault on the specialist insurance industry this week with an attempt to oust the chairman and four other directors of Bermuda-based Argo Group....
...It has also largely missed out on the growth of so-called alternative capital in the industry — via asset classes such as catastrophe bonds — which has mostly gone to Bermuda....
...Chubb’s investment in Huatai goes back to 2002, when Ace LTD insurance bought a one-fifth stake. Ace went on to buy Chubb and take on its name in 2016....
...Mr Dowd has a long history in reinsurance, having spent almost 20 years at ACE Group....
...Its brokers and underwriters, including the wealthy individuals known as Names who once personified the market, have lost business to Switzerland and Bermuda....
...Apollo has a record in the property & casualty insurance industry....
International Edition