Bermuda Monetary Authority

Aegon’s trading update for third quarter 2023

Retrieved on:

Thursday, November 16, 2023

Aegon, Pension, CET, Subaru Global Platform, Retirement, Asset, Q&A, EUR, Bermuda Monetary Authority, Capital market, Share repurchase, Savers (UK retailer), Partnership, WFG, Growth, Holding, Life insurance, Telescopic sight, Transamerica

We expect the full-year 2023 operating capital generation from the units to be around EUR 1.2 billion; up from the previous guidance of more than EUR 1.0 billion.

Key Points:

We expect the full-year 2023 operating capital generation from the units to be around EUR 1.2 billion; up from the previous guidance of more than EUR 1.0 billion.
As outlined at our Capital Markets Day 2023 in June, a key strategic focus is to ensure that our US business, Transamerica, reaches its full potential.
In the third quarter, Transamerica’s Strategic Assets have continued to deliver growth.
Second half 2023 results – March 1, 2024
First quarter 2024 trading update – May 16, 2024
Annual General Meeting – June 12, 2024
First half 2024 results – August 22, 2024
The conference call and Q&A can be followed via a live audio webcast on our website.

AM Best Affirms Credit Ratings of Orion Reinsurance (Bermuda) Ltd.

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Thursday, November 30, 2023

Banking, Professional Services, Insurance, Finance, Risk management, Risk, Credit, USD, AM Best, Bermuda Monetary Authority, Orion, Good, News, ALL, Life

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Orion Reinsurance (Bermuda) Ltd. (Orion Re) (Hamilton, Bermuda).

Key Points:

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Orion Reinsurance (Bermuda) Ltd. (Orion Re) (Hamilton, Bermuda).
The ratings reflect Orion Re’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

KBRA Assigns Rating to AeBe ISA Ltd.

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Tuesday, November 21, 2023

Banking, Professional Services, Finance, KBRA, Risk management, American Energy Partners, LP, Risk, Outlook, Palm, Insurance, Bermuda Monetary Authority, GAAP, ISA, AUM, ISAC, AEB

KBRA assigns an A- insurance financial strength rating (IFSR) to AeBe ISA Ltd (AeBe), a Class E licensed Bermuda-based reinsurer that has GAAP total assets of approximately $4.4 billion as of June 30, 2023.

Key Points:

KBRA assigns an A- insurance financial strength rating (IFSR) to AeBe ISA Ltd (AeBe), a Class E licensed Bermuda-based reinsurer that has GAAP total assets of approximately $4.4 billion as of June 30, 2023.
KBRA believes that the ISAC structure provides a robust corporate framework as well as operational flexibility to AeBe as the company onboards future business.
As AeBe executes its business plan, KBRA expects this ratio to decrease but remain strong over the medium term.
Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .

24 Exchange Sets Record Daily FX NDF Trade Volume of $3.1 Billion

Retrieved on:

Monday, October 23, 2023

Crypto, Bermuda Monetary Authority, Exchange, FX, NDF, Foreign exchange spot, Financial services

HAMILTON, Bermuda, Oct. 23, 2023 /PRNewswire/ -- 24 Exchange announced today that it set a record for FX NDF trading volume. 24 Exchange processed more than $3.1 billion in FX NDFs for its global institutional customers on a single trading day last week.

Key Points:

HAMILTON, Bermuda, Oct. 23, 2023 /PRNewswire/ -- 24 Exchange announced today that it set a record for FX NDF trading volume.
24 Exchange processed more than $3.1 billion in FX NDFs for its global institutional customers on a single trading day last week.
24 Exchange CEO and Founder Dmitri Galinov, said: "We are thrilled to set another daily volume record in FX NDF trading for our clients seeking greater liquidity.
In addition to its FX NDF platform, the company offers Crypto NDFs (meeting regulatory standards set by the Bermuda Monetary Authority), FX Swaps, and FX Spot.

Talos Integrates with Coinbase International Exchange to Offer Institutional Clients Expanded Access to Perpetual Futures Trading

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Thursday, October 12, 2023

XRP, LTC, OTC, Risk management, Coinbase, Bermuda, Trust, GUI, Bermuda Monetary Authority, Eligibility, API, ETH, BTC, Cryptocurrency, Talos

LONDON, Oct. 12, 2023 /PRNewswire/ -- Talos, a provider of institutional digital assets trading technology, announced its integration with Coinbase International Exchange, a licensed digital assets exchange that launched earlier this year.

Key Points:

LONDON, Oct. 12, 2023 /PRNewswire/ -- Talos, a provider of institutional digital assets trading technology, announced its integration with Coinbase International Exchange, a licensed digital assets exchange that launched earlier this year.
The integration allows mutual clients of Talos and Coinbase International Exchange based in eligible jurisdictions outside of the US to trade perpetual futures on Coinbase International Exchange directly from the Talos platform.
As a result of this integration, institutions will be able to access Coinbase International Exchange via a user interface for the first time.
Eligible mutual clients can seamlessly connect to Coinbase International Exchange either through Talos's graphical user interface (GUI) or application programming interface (API).

Monument Re Limited Announces Key Staffing Changes

Retrieved on:

Wednesday, October 4, 2023

Professional Services, Insurance, Finance, Actuarial science, Cerberus Capital Management, Bermuda Monetary Authority, Treasury, Isle, Monument, Management

Monument Re Limited (“Monument Re”) announced today that Manfred Maske has stepped down from his role as Group CEO effective from 19th September 2023.

Key Points:

Monument Re Limited (“Monument Re”) announced today that Manfred Maske has stepped down from his role as Group CEO effective from 19th September 2023.
Jonathan Yates, Chairman of Monument Re, stated that “Manfred joined Monument Re Group in February 2017, when the company was a relatively new venture.
Monument Re Limited is a life insurance reinsurer and insurance holding company with a proven track record in acquiring capital-intensive European portfolios.
Each entity is subject to local regulation and Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.

Redomiciliation to Bermuda completed

Retrieved on:

Saturday, September 30, 2023

Bermuda Monetary Authority, ISIN, AGN, AEG, EGM, Bermuda, Documentation, NYSE, Euronext Amsterdam, Airline, The Hague, Aegon

The Hague, September 30, 2023 - Aegon’s Extraordinary General Meeting of shareholders (EGM) today approved the cross-border conversion into a Bermuda Limited company.

Key Points:

The Hague, September 30, 2023 - Aegon’s Extraordinary General Meeting of shareholders (EGM) today approved the cross-border conversion into a Bermuda Limited company.
After the completion of the EGM, the change of Aegon’s legal seat to Bermuda has been effectuated, as a result of which the company became a Bermuda entity: Aegon Ltd. As of October 1, 2023, the Bermuda Monetary Authority will be Aegon’s group supervisor.
Aegon shares will continue to be listed on Euronext Amsterdam (AGN) and NYSE (AEG).
The identifiers (such as the ISIN) of the Aegon shares will change:
the Aegon Ltd. common shares will have the ISIN BMG0112X1056; and
More information on the redomiciliation, as well as the documentation relating to it, can be found here .

Extraordinary General Meeting approves first step in redomiciliation to Bermuda

Retrieved on:

Friday, September 29, 2023

Insurance, Bermuda Monetary Authority, EGM, Article, European Economic Area, Aegon, CEST, Security (finance), The Hague

The Hague, September 29, 2023 - Aegon’s Extraordinary General Meeting of shareholders (EGM) today approved the first step in the company’s redomiciliation to Bermuda and adopted all other agenda items.

Key Points:

The Hague, September 29, 2023 - Aegon’s Extraordinary General Meeting of shareholders (EGM) today approved the first step in the company’s redomiciliation to Bermuda and adopted all other agenda items.
Following the closure of the transaction with a.s.r., Aegon no longer has a regulated insurance entity in the Netherlands.
Aegon will now proceed with a second EGM for the shareholders’ resolution on the second step of the redomiciliation.
Following the adoption of this resolution and the completion of the EGM in Luxembourg, the redomiciliation to Bermuda will be implemented on 30 September 2023.

Agam Capital and American Equity Life to partner with Fintech Blue Solutions to create a Strategic Partnership forming the next-generation life insurance products provider in India

Retrieved on:

Monday, September 18, 2023

Agam Capital, a trusted global platform for insurance analytics, American Equity Life, a world-class provider of annuity and retirement products are excited to announce their plans to launch the next-generation life insurance company in India.

Key Points:

Agam Capital, a trusted global platform for insurance analytics, American Equity Life, a world-class provider of annuity and retirement products are excited to announce their plans to launch the next-generation life insurance company in India.
This innovative collaboration harnesses Fintech Blue’s tech-enabled distribution expertise in India, Agam's cutting-edge pALM analytical platform, and American Equity's strength in capital and retirement services.
The result will be a truly distinctive entrant into India's thriving and rapidly growing market for life insurance and retirement products.
We are proud to partner with Agam to provide both capital and our expertise in both insurance and asset management to this new venture in India.

Agam Capital Advises PFI in Its Formation and Launch of Prismic Life Reinsurance, Ltd.

Retrieved on:

Thursday, September 7, 2023

Agam Capital (“Agam”), an analytics driven platform strategically partnering with insurance companies to explore opportunities to enhance their financial flexibility, is advising Prudential Financial, Inc. (“PFI”), a US-based global financial services leader and premier active global investment manager, in the formation and launch of Prismic Life Reinsurance, Ltd. (“Prismic”), a Bermuda-domiciled Class E life and annuity reinsurer.

Key Points:

Agam Capital (“Agam”), an analytics driven platform strategically partnering with insurance companies to explore opportunities to enhance their financial flexibility, is advising Prudential Financial, Inc. (“PFI”), a US-based global financial services leader and premier active global investment manager, in the formation and launch of Prismic Life Reinsurance, Ltd. (“Prismic”), a Bermuda-domiciled Class E life and annuity reinsurer.
Separately, Agam and Prismic have entered into a long-term Management Services Agreement (“MSA”) whereby Agam will continue to leverage its industry-leading asset and liability management and enterprise risk management expertise to support Prismic and its future growth.
Agam’s Co-Founders, Chak Raghunathan and Avi Katz, said, “The launch of Prismic is a milestone event in the continued growth of the Bermuda reinsurance market.
Offering the only end-to-end enterprise wide risk and capital analytic solution, Agam empowers strategic decision makers towards their capital optimization goals.