Ark Insurance Holdings has renewed its P&C-focused Outrigger Re sidecar with $230mn of total investor backing for 2025, of which $150mn has been provided by the (re)insurer’s parent White Mountains.

SiriusPoint has entered an agreement to repurchase all of its common shares and warrants held by CMIG subsidiary CM Bermuda – the former owner of Sirius – for $733mn.

Bermuda-based holding company Maiden Holdings has entered into a combination agreement with Kestrel Group to form a new publicly listed specialty program group.

Bermuda’s P&C (re)insurance industry improved its resilience in 2023 thanks to price improvements, tightening terms and conditions, limit and aggregation management and favourable investment returns, according to a report by the Bermuda Monetary Authority.

Allianz has launched Sconset Re, a new Bermuda-based reinsurance sidecar designed to cover its US life and annuity insurance operations.

Aspen Insurance Holdings Limited has filed an F-1 prospectus for a potential New York IPO, which follows the Bermuda-based (re)insurer making a similar move around this time last year as it continues to leave its options open for a public listing.

AM Best has affirmed Brit Re's financial strength rating of A (Excellent) and long-term issuer credit rating of “a” (Excellent).

Mike Karmilowicz, chairman of Everest Global Insurance, has announced his resignation, according to an SEC filing.

Roosevelt Road Re has added Andy Crichton to its ranks with the new hire tasked with strategic underwriting and expansion of the Bermuda-based firm’s property reinsurance portfolio.

Aspen chairman and CEO Mark Cloutier has been named the incoming chair of the Association of Bermuda Insurers and Reinsurers, effective 1 January 2025, The Insurer understands.