AM Best affirms the financial strength rating of ‘B+’ (Good) and the long-term issuer credit rating of ‘bbb-’ (Good) of Orion Reinsurance, class 3 captive insurer based in Bermuda
The Bermuda Monetary Authority licensed 10 new captive insurers between January and October 2024, reflecting Bermuda’s continued strength as a leading domicile for captive insurance
The rating downgrades reflect the captive’s business plan to cease underwriting new business starting from mid-May 2024
Anthony Shapella will replace David Govrin, who will focus solely on his role as group president and CEO of global reinsurance at SiriusPoint
AM Best has affirmed the financial strength rating of ‘A’ (Excellent) and the long-term issuer credit rating of ‘a’ (Excellent) of Rembrandt Insurance, a Bermuda-based captive (re)insurer of Vitol Holding
Everest Insurance has appointed Nuno Antunes as global head of multinational services and Ning Xu as manager of multinational network partners
Sura Re, as a captive reinsurer of Suramericana, has the primary role of participating in property business underwritten by its parents’ affiliates across Latin America
The move aims to capitalise on growth opportunities in Bermuda, providing insurance and risk management expertise in financial lines, construction, energy, marine, and P&C
