Latest news with #Bermuda-based
Yahoo
4 days ago
- Business
- Yahoo
Hamilton Insurance Group reshuffles leadership team
Bermuda-based specialty reinsurer Hamilton Insurance Group has appointed Adrian Daws as the new CEO of Hamilton Re as part of several leadership changes. Daws will succeed Megan Graves in the new role, while Alex Baker will assume Daws' previous role as CEO of Hamilton Global Specialty. Megan Graves, who has led Hamilton Re since 2020, will retire from the company on 31 December 2025. Both appointments are pending regulatory approvals, with Daws' appointment also subject to immigration clearance. Daws, who has been with Hamilton since 2015, has more than 25 years of industry experience, having served as the CEO of Hamilton Global Specialty since 2020. Baker, appointed group chief risk officer in 2022, also brings more than 25 years of insurance sector experience to his new role. He joined Hamilton in 2016, where he previously held the roles of chief risk officer and chief actuary at Hamilton Global Specialty. In addition, Tim Duffin has been named group chief underwriting officer (CUO), a newly created position, also pending regulatory approval. He will take on the new responsibility on 1 January 2026. Duffin, who has been with Hamilton since 2012, has more than 25 years of experience in the insurance space in the Bermuda and London markets. He served as the CUO of Hamilton Re before his new appointment. Daws, Baker and Duffin will join the executive management team, reporting to group CEO Pina Albo. Hamilton Insurance Group board chair David Brown said: 'We are fortunate to have such strong and talented individuals on the Hamilton team; employees who are aligned with our strategy and values and who are able to seamlessly step into key roles and continue our forward momentum and success.' In November, Hamilton Re made headlines for expanding into credit, bond and political risk and appointing Sergio Lottimore as vice-president of the new reinsurance line. "Hamilton Insurance Group reshuffles leadership team" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Wire
5 days ago
- Business
- Business Wire
Triangle Life: Transforming the High-Net-Worth Life Insurance Experience
HAMILTON, Bermuda--(BUSINESS WIRE)--Triangle Life announces today that it has secured its next stage of growth investment. Alongside this, the company has commenced signing agreements with international high-net-worth (HNW) brokers across key international financial centres. Headquartered in Bermuda, a global financial centre for insurance and reinsurance, Triangle Life is the only life insurance company founded with a sole focus on serving the HNW market. A strong capital base for growth has been achieved through investment from a diverse group of investors, including Aspida Life Insurance Company, BroadRiver Asset Management L.P. and a series of family offices, who align with Triangle Life's long-term vision and client-centric approach. The investors are highly supportive of the company's focus as a HNW insurance provider and its innovative growth strategy. Bringing together an exceptional team of experienced HNW insurance leaders, led by CEO, Niall O'Hare, the company is dedicated to working with brokers to help HNW clients realise the positive impact of their wealth in securing legacy plans aligned with their values and aspirations. Triangle Life has developed an innovative digital platform designed to enhance advisors' engagement and meet the expectations of today's internationally mobile, tech-savvy HNW clients. Blending cutting-edge technology with personalised service, the platform is built to deliver a modern and convenient insurance experience. Niall O'Hare, CEO, Triangle Life commented: 'At Triangle Life, we see an opportunity to bring fresh thinking and a new approach in HNW mortality protection. Strong backing from our investors reflects confidence in our vision: a modern life insurer built around the needs of today's HNW clients. We're excited to deliver on this through a team of seasoned professionals, working alongside leading brokers serving clients with complex, international life insurance needs." Merrilyn Johnson, Chief Commercial Officer, Triangle Life commented: 'Triangle Life is inspired by the belief that meeting the evolving needs of the global HNW community means doing things differently — with deeper insight, greater flexibility, and a personalised approach. By combining exceptional service with deep experience, we are built to deliver best-in-class, digitally enabled HNW life insurance solutions.' Triangle Life is expanding its broker network and invites interested distributors and advisors to contact the company for more information at info@ or visit Jefferies acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom (UK) LLP served as legal advisors to the Company in this transaction, with Appleby Bermuda acting as Bermuda counsel. ABOUT TRIANGLE LIFE Triangle Life is a Bermuda-based life insurance company providing solutions for HNW individuals (HNWIs), their families and businesses to meet today's client needs, as well as the transition to tomorrow's demands and expectations. It is uniquely focused on solving the complexities of global wealth succession that enables HNWIs to bestow a legacy aligned to their personal vision, goals and values.
Business Wire
09-06-2025
- Business
- Business Wire
Mereo Advisors Rebrands as Cedar Trace
HAMILTON, Bermuda--(BUSINESS WIRE)--Mereo Advisors Group, the Bermuda-based insurance, reinsurance and asset management group, has announced it will rebrand as Cedar Trace. Cedar Trace's business and management team remain exactly the same. Cedar Trace has a close alignment with Mereo Insurance Limited, the Bermuda reinsurance company with an A- financial strength rating from AM Best. This relationship will not change after the rebranding. 'The name and logo changes are to draw a clearer distinction between the regulated balance sheet and all the other business lines we currently operate or plan to operate,' said Lawrence Minicone, Cedar Trace's CEO. All companies within the Cedar Trace Group will change names: Mereo Advisors Holdings Limited is now Cedar Trace Advisers Holdings Limited; Mereo Advisors Limited is now Cedar Trace Advisers Limited; Mereo Capital Limited is now Cedar Trace Capital Management Limited; Mereo ILS Opportunities Limited is now Cedar Trace ILS Opportunities Limited. About Cedar Trace Cedar Trace Advisers Limited (formerly Mereo Advisors Limited) is a Bermuda-based insurance, reinsurance and asset management group offering scalable capital solutions across property, casualty, and specialty lines. Cedar Trace has a close strategic alignment with Mereo Insurance Limited, the class 3B BMA regulated reinsurance company with an A- financial strength rating from AM Best. For more information, please visit
Yahoo
09-06-2025
- Business
- Yahoo
Mereo Advisors Rebrands as Cedar Trace
HAMILTON, Bermuda, June 09, 2025--(BUSINESS WIRE)--Mereo Advisors Group, the Bermuda-based insurance, reinsurance and asset management group, has announced it will rebrand as Cedar Trace. Cedar Trace's business and management team remain exactly the same. Cedar Trace has a close alignment with Mereo Insurance Limited, the Bermuda reinsurance company with an A- financial strength rating from AM Best. This relationship will not change after the rebranding. "The name and logo changes are to draw a clearer distinction between the regulated balance sheet and all the other business lines we currently operate or plan to operate," said Lawrence Minicone, Cedar Trace's CEO. All companies within the Cedar Trace Group will change names: Mereo Advisors Holdings Limited is now Cedar Trace Advisers Holdings Limited; Mereo Advisors Limited is now Cedar Trace Advisers Limited; Mereo Capital Limited is now Cedar Trace Capital Management Limited; Mereo ILS Opportunities Limited is now Cedar Trace ILS Opportunities Limited. About Cedar Trace Cedar Trace Advisers Limited (formerly Mereo Advisors Limited) is a Bermuda-based insurance, reinsurance and asset management group offering scalable capital solutions across property, casualty, and specialty lines. Cedar Trace has a close strategic alignment with Mereo Insurance Limited, the class 3B BMA regulated reinsurance company with an A- financial strength rating from AM Best. For more information, please visit View source version on Contacts For Media Inquiries: Victoria Halman | email: Victoria@
Mint
08-06-2025
- Business
- Mint
Independent Sugar to submit revised plan for bankrupt Hindusthan National Glass
Independent Sugar Corp. (INSCO) will submit a revised resolution plan worth ₹2,257 crore to Hindusthan National Glass & Industries Ltd's (HNGIL) committee of creditors in an attempt to turn around the bankrupt container glass manufacturer, a counsel involved in the matter said on the condition of anonymity. The resolution plan has been revised following a Supreme Court directive that ordered INSCO to match its offer with its rival bidder. INSCO was in a race with AGI Greenpac Ltd to acquire Kolkata-based HNGIL, India's largest container glass manufacturer. Also read: Induslaw ties up with global law firm CMS as India opens legal sector to foreign firms Under the revised resolution plan, INSCO will have to pay an upfront cash of ₹1,851 crore. A deferred cash payment of ₹356 crore (net present value— ₹264 crore) will be made to the lenders over a span of three years to match sanitary ware and glass container maker AGI Greenpac's offer. Besides, the operational creditors and workmen will receive ₹50 crore along with a 5% equity in line with INSCO's original offer. On 29 January, the Supreme Court dismissed AGI Greenpac's resolution plan saying that the offer was unsustainable due to non-compliance with the guidelines of the Insolvency and Bankruptcy Code. The court specifically noted that AGI Greenpac did not secure prior approval from the Competition Commission of India (CCI). Additionally, the Supreme Court instructed the committee of creditors (CoC) to re-evaluate other resolution plans, such as INSCO's, which had already received CCI clearance. Aggrieved by the Supreme Court order, AGI Greenpac had filed a review petition before the top court. However, the court in its order that was made publicly available on 30 May, dismissed the petition, and directed the NCLT to approve INSCO's resolution plan within six weeks. Also read: Dunzo gets relief in one insolvency case as NCLT dismisses plea More importantly, the Supreme Court had asked INSCO that had already received a CCI approval, to match its offer with AGI Greenpac's. Subsequently, AGI Greenpac moved Competition Commission of India to review and revoke its green channel approval given to INSCO. The competition watchdog, however, rejected the complaint submitted by AGI Greenpac. Also read: NCLAT rejects plea against CCI nod to AGI Greenpac HNGIL was admitted into insolvency in October 2021 by the Kolkata bench of the NCLT. During the corporate insolvency resolution process, two bidders—AGI Greenpac, with a market cap of ₹5,000 crore, and Bermuda-based Independent Sugar Corporation—vied for the acquisition of HNGIL.
