The Bermuda College Foundation joined forces with Association of Bermuda Insurers and Reinsurers (ABIR) to recognize the three Michael Butt Scholarship recipients, created in memory of our Company’s former Chair.
Widely respected for his leadership and contributions to the global insurance industry, Michael was a pioneer in helping to build Bermuda into a global trading center. The scholarship, which covered full tuition and textbooks for three first-year students, Raynique Caines, Jade Fubler, and Eli Furbert, is a testament to his legacy.
We congratulate Raynique, Jade, and Eli for their academic accomplishments and look forward to witnessing their future successes.
Read more here: https://lnkd.in/gKZiKzzp
AM Best reports no new Bermuda reinsurers formed in 2023, despite a challenging market, due to high interest rates, absence of major catastrophes, and growth in insurance-linked securities. Unlike past hard markets driven by catastrophes, such as 1992, 2002, and 2005, which spurred new company formations, 2023 saw a different trend.
Read more on the report here: https://ow.ly/bU8B50SyGtR
Choose to move forward in a changing world with continuous learning and adaptation. #CFA charterholders can earn the CAIA Charter with just one exam – see if you're eligible: https://bit.ly/44i8atd#investing#CAIA
🚀 Report from the 273rd AGM of The Society of Lloyd's! 🚀
A couple of months back, I had the opportunity to ask a pressing question about the future of capital from private investors in the insurance market. I was thrilled with the detailed response from Burkhard Keese, CFO. Here's a summary:
👉 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐟𝐫𝐨𝐦 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬: Lloyd’s aims to increase capital from Names to 20%, but currently, it stands at around 6%.
👉 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: The past year's successes are not enough to attract new capital; regulations and political barriers also pose significant hurdles.
👉 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: Introduction of a modified freehold agreement, aiming to balance the interests of managing agents and investors [I believe this point was a discrete nod to the Hampden Agencies Limited / Fidelis Insurance Group Syndicate 3123 transaction].
Big thanks to Burkhard for shedding light on these crucial issues and for the continued efforts to make Lloyd's a more competitive market for private investors.
Let's continue working together to drive innovation and growth in the market! 💼💡 #LloydsAGM#InsuranceMarket#PrivateCapital#Innovation#Growth
🎉 Celebrating 7 Years of Success! 🎉
We are thrilled to share a glimpse of our remarkable journey over the past 7 years in a single frame.
At Risk Exchange (DIFC) Limited, this milestone is not just about the passage of time but a testament to the unwavering trust and support we've received from our valued associates, strategic partners, reinsurers, cedents, and clients.
Throughout these years, we've remained committed to delivering unparalleled services, and it's your trust that has propelled us forward. As we celebrate this achievement, we extend our heartfelt gratitude to each one of you for being an integral part of our journey.
Our journey has been defined by our aspirations and ambitions to expand our reach, catering to diverse demographics with innovative offerings. Since our inception, we've strategically positioned ourselves within the DIFC, regulated by the DFSA. This decision has empowered us with a competitive edge, allowing us to collaborate with credible global reinsurers and partners, thanks to the robust regulatory financial framework provided by the center.
Despite the challenges posed by the ever-evolving business landscape, including ongoing crises impacting the global economy, we've persevered. We're proud to have successfully acquired various facultative reinsurance business locally and participated in renewals of numerous whole accounts reinsurance treaties across the Middle East, Africa, Indian Subcontinent, and European markets. These endeavors bring us closer to our goal of expanding into the international market.
Our primary focus remains on fostering new relationships with cedants worldwide, particularly in emerging markets. We continue to collaborate extensively with our associate reinsurers and strategic partners, leveraging niche Lloyd’s binders across various classes of reinsurance.
As we reflect on our journey thus far, we are immensely grateful for the opportunities, partnerships, and achievements that have shaped our story. Moving forward, we are excited about the possibilities that lie ahead and remain dedicated to delivering exceptional value to our stakeholders.
Thank you once again for your unwavering support. Here's to many more years of success and growth together!
#RiskExchangeAnniversary#7YearsOfSuccess#Reinsurance#DFSARegulated#DIFC#GlobalPartnerships#EmergingMarkets#InsuranceIndustry#BusinessMilestone#GlobalReinsurance#FinancialFramework#StrategicPartnerships#InsuranceBrokers#Cedents#BusinessGrowth#Gratitude#SuccessJourney#InternationalExpansion
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Reinsurers look to hold the cat line to consolidate ’23 gains
As early renewal positioning begins in Monte Carlo today, reinsurers are looking to consolidate the significant gains made this year in property cat pricing, T&Cs and structure, with rates adjusted for risk and inflation expected to be relatively stable in the absence of major industry losses in the coming months.
#ReinsuranceMonth#rvs2023#reinsurance
Calling #CFA charterholders – it’s time to level up! Build on your current level of #investment expertise with specialized education in the rapidly evolving alternatives landscape.
See how you can earn the CAIA designation with only one exam: https://bit.ly/CAIAStacker
Re financial and analysis course coming in April to Bermuda.
"This coursework was invaluable to a breadth and depth of Re knowledge not available elsewhere. I strongly recommend these given by our friends at the RAA." ~C. Constantin Poindexter
#re#reinsurance#reinsurer#Janus
Championing Student Success and Institutional Expansion at Bermuda College
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