All the headlines from our Bermuda Topic Page, ordered by recency.
Nov 14 2014 // A working group of the National Association of Insurance Commissioners (NAIC) has recommended the Bermuda Monetary Authority (BMA) for approval as a “qualified jurisdiction” under the NAIC’s reinsurance...
Nov 4 2014 // Mt. Logan Re Ltd., Everest Re Group’s special purpose reinsurer, has appointed Krystalle Tobin as its chief financial officer.Tobin was most recently with Hiscox Insurance Company (Bermuda) Ltd. where she was chief...
Oct 23 2014 // Early estimates by catastrophe modeling firms indicate insured losses from Hurricane Gonzalo in Bermuda will come in between $200 and $400 million.EQECAT estimates $300 million in insured losses, about the scale caused by...
Oct 19 2014 // Hurricane Gonzalo scored a direct hit on Bermuda Friday night into Saturday morning, pummeling the tiny island chain with rain and howling winds that downed trees and knocked out power but spared it catastrophic damage or...
Oct 17 2014 // Gonzalo, classified as a major hurricane and bearing down on Bermuda with tree-snapping winds, is forecast to bring flooding and a life-threatening storm surge as it’s projected to be the worst storm to hit the...
Oct 16 2014 // The last major hurricane to strike land anywhere in the Atlantic basin was Sandy in 2012. That may change tomorrow as Hurricane Gonzalo bears down on Bermuda.Gonzalo again became a Category 4 storm today, the first since...
Oct 15 2014 // Hurricane Gonzalo grew into a major storm that threatens Bermuda later this week, while half a world away Tropical Storm Ana may become the second system this year to sweep Hawaii’s Big Island.Gonzalo, with top winds...
Sep 12 2014 // The U.S. Treasury Department said it’s considering ways to end a “loophole” that allows hedge- fund managers to avoid taxes by routing their investments through an insurance company in low-tax countries...
Sep 9 2014 // Paul Greensmith and Jonathan Gale have been appointed chief underwriting officers for Catlin Group Limited’s London hub, with primary responsibilities including insurance and reinsurance, respectively.Greensmith...
Sep 8 2014 // USI, WillisUSI Insurance Services has entered into an agreement with certain subsidiaries of Willis North America Inc., part of Willis Group Holdings, to acquire seven of Willis’ retail insurance brokerage locations...
Aug 27 2014 // The most recent report from the National Hurricane Center in Miami, at 5:00 A.M. EDT, notes that Cristobal is now hurricane strength with maximum sustained winds of 80 mph – 130 km/h, and “some strengthening is...
Aug 21 2014 // The top official of Florida’s state-backed property insurer stepped forward yesterday to defend his organization’s international travel, arguing it was necessary to conclude a $3.1 billion risk transfer...
Aug 14 2014 // The 15 participating members of the Association of Bermuda Insurers and Reinsurers (ABIR) reported a record high contract certainty rate for insurance contracts at 99.0 percent. The year end 2013 results also showed a...
Aug 8 2014 // Florida Governor Rick Scott is calling on the top official of the state-backed property insurer to explain why the insurer has deviated from its limitations on overseas travel.Citizens Property Insurance Corp. officials...
Aug 8 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Catlin Insurance Company Limited (CICL) (Bermuda), Catlin Insurance...
Aug 4 2014 // CNA Financial Corp. announced it has completed completion the sale of Continental Assurance Co. (CAC) to a subsidiary of Wilton Re Holdings. Additionally, Wilton Re Bermuda Limited will reinsure all of the run-off...
Jul 21 2014 // The combination of Validus Holdings and Western World Insurance Group fills in “missing pieces” for both organizations, Validus’ chairman said in late June, detailing finer points of a $690 million deal...
Jul 11 2014 // Bermuda-based Banco BTG Pactual S.A. (BTG Pactual) and Global Atlantic Financial Group Limited announced that they have signed an agreement whereby BTG Pactual will acquire Ariel Re, Global Atlantic’s Bermuda-based...
Jul 7 2014 // The Bermuda-based Arch Capital Group Ltd. (ACGL) has announced promotions in the reinsurance group “to support the recent expansion of the Company’s mortgage insurance and reinsurance operations.”Marc...
Jun 23 2014 // Validus Holdings said it has agreed to acquire specialty insurer Western World Insurance Group for $690 million in a deal that leaves the management team and brand of the specialty insurer intact.Under the deal terms,...