February 27: Business Briefs

New insurers open up shop

Three new insurance companies and a broker opened their doors in Bermuda in January.

The Bermuda Monetary Authority had four applications for new insurers and approved all four.

Added to the Insurance Register were: Skyline Re Ltd, Bosphorus 1 Re Ltd, MSIB Limited and EEB ENERGY Re Ltd.

Both Skyline and Bosphorus are Special Purpose Insurers (SPI) while MSIB was added as a broker and EEB ENERGY as a Class 1 Insurers.

Wollmann in at Argus

Argus Group Holdings Limited announced Paul Wollmann as a director of the company. The appointment of Mr. Wollmann was effective from 11 February, 2013, to fill a casual vacancy on the Board and to serve until the next annual general meeting.

Busher to retire

Montpelier Re Holdings Ltd. announced that deputy chairman, executive vice president and COO, Tom Busher, will retire from the Company on December 31, 2013, after twelve years’ service. Mr Busher was a member of the original management team which founded Montpelier in late 2001, and has been COO since its inception. During his time with the Company he has been closely associated with many key initiatives, including Montpelier’s IPO on the NYSE.