Bermuda | Jotup

Arch Reinsurance Ltd. Announces Executive Appointments

Retrieved on:

Tuesday, August 29, 2023

Finance, Consumer, Professional Services, Hispanic, Insurance, Dragonetti, Markel Corporation, JAL, Crystal, Property, Bermuda, Reinsurance, Dam, Financial services, Life insurance

Arch Reinsurance Ltd. (Arch Re Ltd.) today announced the promotions of Crystal Doughty to Chief Underwriting Officer, Property and William Soares to Chief Underwriting Officer, Casualty and Specialty.

Key Points:

Arch Reinsurance Ltd. (Arch Re Ltd.) today announced the promotions of Crystal Doughty to Chief Underwriting Officer, Property and William Soares to Chief Underwriting Officer, Casualty and Specialty.
Both will report to Jerome Halgan, CEO of Arch Re Ltd.
Pierre Jal, who most recently served as Global Chief Underwriting Officer for Arch Re Ltd., has assumed the role of Chief Underwriting Officer for Arch Reinsurance Europe (Arch Re Europe).
Jal, now based in Zurich, continues to oversee underwriting strategy across both Arch Re Ltd. and Arch Re Europe.
Matthew Dragonetti, President of Arch Re Ltd., will expand his responsibilities to include leading client-centric initiatives across Arch Worldwide Reinsurance Group.

AM Best Affirms Credit Ratings of Sammons Financial Group, Inc. and Its Subsidiaries

Retrieved on:

Tuesday, August 29, 2023

Insurance, Professional Services, Federal Home Loan Banks, AM Best, ALL, ERM, Marketing, Life, SFG, Long-Term Capital Management, Credit, Sammons Enterprises, Organization, Investment, Superior, AM, Bermuda, News, Security (finance)

In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Sammons Financial Group, Inc. (Delaware).

Key Points:

In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Sammons Financial Group, Inc. (Delaware).
In addition, AM Best has affirmed the Long-Term ICR of “aa-” (Superior) of Sammons Financial Group Global Funding.
SFG maintains strong interest coverage ratios, and financial leverage remains well-within AM Best guidelines for its current ratings.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

Credora Obtains Bermuda Digital Asset Business License

Retrieved on:

Monday, August 28, 2023

Learning, Walkers (law firm), Class, Bermuda Monetary Authority, BMA, Risk management, Multimedia, Entrepreneurship, MSB, Bermuda, Environment, Security (finance)

NEW YORK, Aug. 28, 2023 /PRNewswire/ -- Credora, the lending and credit intelligence infrastructure provider, today announced that it has received a Bermuda Class M Digital Asset Business License. Bermuda is a leader in the digital asset space and has a clear regulatory framework for varying types of digital asset businesses. The Class M License provides the optimal environment for new and innovative models seeking regulatory guidance.

Key Points:

Credora announces plans to provide collateralized agency lending through newly licensed Bermuda subsidiary, expanding marketplace offering for institutions
NEW YORK, Aug. 28, 2023 /PRNewswire/ -- Credora, the lending and credit intelligence infrastructure provider, today announced that it has received a Bermuda Class M Digital Asset Business License.
Bermuda is a leader in the digital asset space and has a clear regulatory framework for varying types of digital asset businesses.
Through the license, Credora plans to serve a larger global customer base and extend the company's regulated presence, which includes existing Credora subsidiary MSB registrations in Canada.
Although it has been a challenging environment for digital asset lending, we value the BMA's support for more transparent business models, and shared interest in making digital asset lending more secure for all participants."

AM Best Affirms Credit Ratings of StarStone Insurance Bermuda Limited and Its Subsidiary

Retrieved on:

Thursday, August 24, 2023

Professional Services, Insurance, Finance, AM Best, ALL, ERM, SIBL, Credit, LPT (band), AM, Bermuda, News, Reinsurance

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of StarStone Insurance Bermuda Limited (SIBL) (Bermuda) and StarStone Insurance SE (SISE) (Liechtenstein).

Key Points:

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of StarStone Insurance Bermuda Limited (SIBL) (Bermuda) and StarStone Insurance SE (SISE) (Liechtenstein).
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 .
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Aspen Reports Strong Financial Results for the First Six Months of 2023

Retrieved on:

Tuesday, August 22, 2023

Professional Services, Insurance, Finance, Capital market, Earnings before interest and taxes, Acquisition, Investment, Aspen, Risk, Capital, Growth, Bermuda, Reinsurance

Aspen Insurance Holdings Limited (“Aspen”) today reported results for the six months ended June 30, 2023.

Key Points:

Aspen Insurance Holdings Limited (“Aspen”) today reported results for the six months ended June 30, 2023.
This result reflects the sustained impact of our highly disciplined approach and the benefits of the well-diversified portfolio we have deliberately constructed.
Our gross written premium was $2,125 million, which was slightly lower compared to the same period last year.
The full earnings press release for the six months ended June 30, 2023 will be published on Aspen’s website at https://www.aspen.co/aspen-reports-strong-financial-results-for-the-firs... .

Nokia and Eastlink announce multi-year deal to enhance 5G network in Canada

Retrieved on:

Wednesday, August 16, 2023

Partnership, Nokia, Peninsula, SOC, MIMO, Radio, Bermuda, Mobile phone, Eastlink

Dallas, Texas - Nokia and Eastlink today announced a multi-year strategic access network partnership that will further modernize Eastlink’s mobile network.

Key Points:

Dallas, Texas - Nokia and Eastlink today announced a multi-year strategic access network partnership that will further modernize Eastlink’s mobile network.
Using Nokia’s comprehensive, energy efficient AirScale portfolio, including 5G RAN, Eastlink will enhance its mobile experience with faster speeds, increased performance, and greater network capacity.
Jeff Gillham, CEO at Eastlink, said: “We’re so pleased to welcome Nokia as part of our dual supplier radio network strategy.
As a global leader in 5G technology, Nokia will be a key contributor towards helping us deliver the best mobile experience to our customers as we leverage their expertise of next-generation technology that focuses on energy-efficiency and security.”
Jeffrey Maddox, President of Nokia Canada, said: “Nokia is thrilled to partner with Eastlink to enhance their 5G network.

Bittrex Global Reaches Successful Settlement with the SEC

Retrieved on:

Wednesday, August 16, 2023

Banking, Cryptocurrency, Professional Services, Finance, King & Spalding, King, Commonwealth of Australia (US securities entity), Bermuda, Securities and Exchange Commission (Nigeria), Investment, Attention, News

To reach this speedy conclusion, the settlement agreement includes a $24 million payment, which will be paid by Bittrex Inc. (also known as Bittrex US), and not by Bittrex Global.

Key Points:

To reach this speedy conclusion, the settlement agreement includes a $24 million payment, which will be paid by Bittrex Inc. (also known as Bittrex US), and not by Bittrex Global.
Oliver Linch, Bittrex Global CEO, said: “We are delighted that a settlement on these terms has been quickly reached.
Bittrex Global will continue to lead the way in demonstrating that the future of crypto is secure, innovative, and regulated.”
Andrew Michaelson, Partner at King & Spalding LLP, added: “We are proud to have advised Bittrex Global on this matter.
What makes this result so unusual and gratifying is that our client, Bittrex Global, will put this matter behind it without paying a penny in settlement.

Assured Guaranty Announces Pricing of $350 Million Senior Notes Offering

Retrieved on:

Wednesday, August 16, 2023

Professional Services, Insurance, Finance, Hilltop Holdings Inc., Debt-to-GDP ratio, AGUS, BofA Securities, EDGAR, Sale, Goldman Sachs, KeyBank, Prospectus, Assured Investment Management, Bermuda, LP, NYSE, Security (finance)

Assured Guaranty Ltd. (NYSE: AGO) announced that its subsidiary, Assured Guaranty US Holdings Inc. (AGUS), has agreed to sell $350 million of 6.125% Senior Notes due 2028.

Key Points:

Assured Guaranty Ltd. (NYSE: AGO) announced that its subsidiary, Assured Guaranty US Holdings Inc. (AGUS), has agreed to sell $350 million of 6.125% Senior Notes due 2028.
The notes are guaranteed by Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty).
The net proceeds from the sale of the notes will be used to redeem all $330 million outstanding principal amount of AGUS’ 5.0% Senior Notes due 2024 and for general corporate purposes.
Assured Guaranty also participates in the asset management business through its ownership interest in Sound Point Capital Management, LP.

Cybersecurity Insurance Market worth $17.6 billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on:

Friday, August 18, 2023

Key players in the market offering standalone cybersecurity insurance solutions include AXA XL, AIG, Travelers Insurance, Beazley, Zurich, Fairfax, Tokio Marine, Liberty Mutual, and CNA.

Key Points:

Key players in the market offering standalone cybersecurity insurance solutions include AXA XL, AIG, Travelers Insurance, Beazley, Zurich, Fairfax, Tokio Marine, Liberty Mutual, and CNA.
To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Cybersecurity Insurance Market.
To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall Cybersecurity Insurance Market.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Cybersecurity Insurance Market.

Cybersecurity Insurance Market worth $17.6 billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on:

Friday, August 18, 2023

Key players in the market offering standalone cybersecurity insurance solutions include AXA XL, AIG, Travelers Insurance, Beazley, Zurich, Fairfax, Tokio Marine, Liberty Mutual, and CNA.

Key Points:

Key players in the market offering standalone cybersecurity insurance solutions include AXA XL, AIG, Travelers Insurance, Beazley, Zurich, Fairfax, Tokio Marine, Liberty Mutual, and CNA.
To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Cybersecurity Insurance Market.
To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall Cybersecurity Insurance Market.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Cybersecurity Insurance Market.