Summer 2022
Contents
Cover: In its DNA—Markel strives for collaboration
When Markel acquired State National in 2017 and Nephila in 2018, it had the opportunity to expand its client offering. Jed Rhoads of Markel Global Re explains the implications.
The inspiring but sobering challenge ahead
Steven Weinstein, chairman of the Bermuda Business Development Agency, shares his reflections on the inaugural Bermuda Climate Summit.
Perfect blend: combining analytics with talent
Being a mathematician and a communicator boded well for Greg Hendrick at the start of his career but as the co-founder of Vantage that combination is even more relevant.
Green giant: how AXA XL is scaling heights on climate
Andrew MacFarlane of AXA XL explains to Bermuda:Re+ILS how he plans to keep AXA in the top tier of progress on climate risk.
Run-off: no longer an option of last resort
Alex Rafferty of AM Best explains how motivated sellers and active buyers are fuelling a buoyant market for non-life run-off reserves.
Cold comfort: the perils of the simplified cat model
A new report by the Bermuda Monetary Authority shows that most Bermuda insurers use ‘simplified’ models to assess long-term climate risk.
History plays its part in climate modelling
Liz Harris of Ariel Re’s ancestors made the perilous voyage across the Atlantic to Bermuda in the 1600s, a fitting lineage for someone who studies modern-day weather perils.
Catch my drift: how to control climate risk
From fixed-income derivatives trader to parametric underwriter, Parameter Climate’s Marty Malinow’s career led him to putting a risk transfer framework around climate risk.
Climate Summit: Bermuda launches climate risk debate
In May the Bermuda Business Development Agency, in partnership with the Association of Bermuda Insurers and Reinsurers and Kroll Bond Rating Agency welcomed climate thought-leaders to the world’s risk capital.
Climate Summit: A history of holding vital talks
The delegates at Bermuda’s inaugural Climate Summit would not be the last to gather on the Island to make decisions of global significance, according to David Hart of the Bermuda Business Development Agency.
Climate Summit: Re/insurance and developing countries
The climate emergency has placed the world in an unprecedented era of uncertainty and fragility, but people living in the developing world are the worst affected by the protection gap.
Climate Summit: Bermuda has a real desire to deliver on ESG
Bermuda’s re/insurance industry genuinely wants to make an impact on ESG matters rather than just ticking boxes or responding to outside pressures.
Climate Summit: The net zero need for innovative financing
Transition risk presents the re/insurance industry with challenges that require specialty financing products.
Women in Hamilton: Taking the platform
For the 2022 Women in Hamilton special report we profile 14 high-flyers who are standing out from the crowd in Bermuda’s risk transfer landscape.
Bermuda—Life
Local flair: Argus is BILTIR’s latest asset
Hannah Ross from Argus Group joined BILTIR’s board of directors in April. Ross told Bermuda:Re+ILS what she brings to her firm and to the association.
BILTIR shows commitment to young talent
From internships and scholarships to engaging with schools on the Island, BILTIR is proving its dedication to preparing for the future of employment in the life insurance sector.
Bermuda—ILS
Different strokes: ILS is much more than an alternative
Jo Stanton, chair of ILS Bermuda and head of finance at Tangency Capital, explains the sector’s winning combination of underwriting discipline, prudent risk management and capital efficiency.
In concert: the logic of the pure-front-plus-ILS model
