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Dual launches Eastern European operations


Dual, the underwriting arm of Hyperion Insurance Group, has entered the Central and Eastern European (CEE) market with the launch of a new operation, Dual Polska.

This follows the acquisition of the majority stake of Polish insurance specialist, Data Connect Direct (DCD).

The acquisition will give Dual direct access to the CEE market, whilst providing DCD with the ability to further diversify its product range and grow its business, said Dual.

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Phoenix CRetro was part of Bermuda Delegation at Trading Risk Awards 2015

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On 18 June 2015, the cream of the (re)insurance convergence market gathered for its annual awards ceremony to acknowledge the hard work and professionalism awarded by industry leading newsletter Trading Risk.

Phoenix CRetro was extremely proud to be part of Bermuda Delegation led by Greg Wojciechowski, ILS Bermuda Chairman & Bermuda Stock Exchange CEO, along with Ross Webber, Bermuda Development Agency CEO and key industry executives from our jurisdiction.

True to tradition, an evening of celebration and networking was had by all, culminating with the much anticipated announcement of the winners. To know further info on Sponsors & Winners please click HERE

To view official the photos from the evening please click here.


(From left) Gregory A. Woiciechovski, President & CEO of Bermuda Stock Exchange, Kirill Savrassov SVP & CEO of Phoenix CRetro, Ross Webber, CEO of Bermuda Development Agency



El Niño Continues to Ramp Up



The latest updates from NOAA (see PDF) and the Australian Bureau of Meteorology confirm that the El Niño event that began in earnest this spring continues to build. NOAA reports that sea-surface temperatures (SSTs) in the closely watched Niño3.4 region of the eastern tropical Pacific were 1.2°C above average last week, well into the range associated with moderate El Niño events (+1.0°C to +1.5°C). Based on another marker, the Multivariate ENSO Index, this El Niño event is already into the “strong” category. All of the Niño monitoring regions had SSTs of at least 1.2°C above average last week, making for the most widespread oceanic warmth since the landmark El Niño event of 1997–98. Policymakers and investors are already taking note of the potential implications of the intensifying El Niño for agriculture and the economy.

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R&Q launches delegated authority platform


R&Q Commercial Risk Services has launched a delegated authority platform specifically aimed at independent brokers.

The platform, mi-binder, allows brokers to create own branded and bespoke products for their clients with autonomy over pricing.

Initial products provided on the platform will be commercial and residential property, per capita liability and motor trade liability. R&Q intends to expand the range of products offered in due course.

Russia-UNDP Partnership


Since the closure of the UNDP Country Office in Moscow in 2010, Russia and UNDP entered a new stage of partnership, focused on cooperation at the regional and global levels, and Russia’s growing role as donor of development assistance.

Russia and UNDP sign a funding agreement to benefit regional and global development


Moscow, 11 June, 2015 — UNDP Administrator Helen Clark and Russian Foreign Minister Sergey Lavrov signed an agreement today that establishes the Russian Federation – UNDP Trust Fund for Development, with initial funding of US $25 million from Russia over the next four years.

The Fund has been created in accordance with the Partnership Framework Agreement between UNDP and Russia which was signed in January 2015.

The activities to be supported by the Trust Fund will focus on poverty alleviation; disaster risk reduction and early preparedness for emergencies; and energy and environment. It will support initiatives implemented by UNDP in Central Asia and elsewhere.

Since the closure of the UNDP Country Office in Moscow in 2010, UNDP and Russia entered a new stage of partnership, focused on co-operation at the regional and global levels, and Russia’s growing donor role.


Nick Frost appointed President of R&Q Captive Management Division


Randall & Quilter (“R&Q” or “the Company”) is pleased to announce that Nick Frost, currently President of R&Q Quest Management Services Bermuda, has been appointed President of R&Q Captive Management Division. Nick will be responsible for the overall strategy and development of the division.

Nick currently heads the Account Executive Team and acts as a Board Member on over 40 client companies.  He will continue to hold his position as President of R&Q’s Captive Management operations in Bermuda alongside his new role.

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Something special


Diversification and the forming of new partnerships are playing an important role in the changing industry model. John Holm, executive director at Capita Insurance Services, talks to Intelligent Insurer about the increasing role of MGAs in this process and explains some of the outcomes of the Intelligent Insurer 2015 MGA survey.

As re/insurers grapple for new business and seek innovative growth prospects, managing general agents (MGAs) represent an increasingly promising avenue to explore with hopes of diversification and openings into new markets.