A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the long-term issuer credit rating of ‘a’ (Excellent) of Lumen Re, based in Bermuda.
Chin will report to Alex Baker, group chief risk officer, and have group-wide responsibility for reserving and pricing actuarial teams across Hamilton’s underwriting platforms, including Hamilton Global Specialty, Hamilton Select and Hamilton Re.
Bermuda Monetary Authority (BMA) licensed three new captives between January and April 2024, taking the total number in the domicile to 630.
Corver retired from his position as group head of legacy M&A at R&Q Insurance in April 2023, where he was responsible for run-off liabilities from (re)insurers, captives and other self-insurance vehicles.
S&P indicates that Bermuda’s economy is on track to continue growing, reflecting the strength in the international business sector, particularly (re)insurance.
Previously, Crawford worked as regional vice president of captives at Summit Reinsurance Services and as vice president at True Captive Insurance.
Scherzinger is currently head of alternative risk solutions at Zurich North America, where she is responsible for the service and management of international insurance programmes for multinational customers.
It was announced during the 2024 Western Region Captive Insurance Conference (WRCIC) in Tulsa, Oklahoma, further signifying the agency’s commitment to making the state a desired domicile for captive insurance companies and service providers.
The hires include one executive vice president (VP), Alicia Santocki; two senior VPs, Scott Fields and Stephanie Fick; two assistant VPs, Colin Curran and Charles Ill; and one executive assistant, Cora Cruz.
Flagstone International has partnered with captive insurance manager Strategic Risk Solutions (SRS) to allow SRS’s clients access to its cash deposit platform.
The offering is designed for EU-based providers, including custodians, exchanges and administrators, who must comply with the forthcoming Markets in Crypto-Assets Regulation (MiCA).
WTW increased the maximum capacity of the CyXS facility by 50 per cent from US$50 million to US$75 million, in response to client feedback.