All the headlines from our Bermuda Topic Page, ordered by recency.
Aug 11 2008 // The Bermuda Monetary Authority (BMA – www.bma.bm) has announced what it describes “significant enhancements to Bermuda’s solvency and disclosure regulations for insurance.”Specifically the BMA said...
Aug 11 2008 // The Bermuda-based Catlin Group Limited posted mixed financial results for the first half of 2008. While gross written premiums were up four percent to $2.075 billion, net income before taxes for the period declined by 21...
Aug 11 2008 // Bermuda-based CastlePoint Holdings, Ltd. reported net income of $10.3 million and basic and diluted earnings per share of $0.27 for the second quarter of 2008. Operating earnings for the second quarter of 2008 were $13.2...
Aug 7 2008 // Fitch Ratings has affirmed XL Capital Ltd.’s ratings as well as those of its P/C (re)insurance subsidiaries, including the Issuer Default Rating (IDR) for XL, at ‘A’, and the Insurer Financial Strength...
Aug 5 2008 // New York-based insurer Tower Group, Inc. has agreed to acquire Bermuda reinsurer CastlePoint in a transaction valued at approximately $490 million.The deal will allow Tower to shift some of its reinsurance to other...
Aug 5 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of Bermuda-based AXIS Specialty Limited (AXIS) and its operating...
Aug 1 2008 // A number of Bermuda-based companies have released their second quarter earnings reports, as follows:RenaissanceRe Holdings Ltd. reported $159.9 million in second quarter operating income available to common shareholders...
Jul 31 2008 // The Bermuda-based Everest Re Group announced that it has appointed John P. Doucette to the position of Executive Vice President, effective September, 2008. He joins Everest Re from Max Bermuda where he held the position of...
Jul 23 2008 // A handful of Bermuda insurers see an opportunity to expand their horizons by entering the Lloyd’s of London insurance market, but their interest of late has waned as prices of potential target companies have...
Jul 3 2008 // Bermuda-based Ariel Reinsurance Company Ltd. has announced the following executive appointments: — George Rivaz has been named Chairman of Ariel Re. He will also continue in his current role as Chairman of Atrium...
Jul 1 2008 // The Bermuda Monetary Authority (BMA) announced that it has appointed Walter A. Bell to a position on its Board of Directors, as its first international member.The BMA regulates financial services for Bermuda-based...
Jul 1 2008 // Ironshore Inc. announced from Bermuda that it has signed a sale and purchase agreement with Chaucer Holdings PLC and the management of Pembroke for the £17 million ($34 million) cash purchase of Pembroke Managing...
Jun 24 2008 // Bermuda-based ACE Limited has announced that, based on current estimates, the impact of the recent floods in the Midwestern U.S. “will have a negligible impact on both second quarter and full-year earnings per share...
Jun 24 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of Hong Kong’s Tugu Insurance Company Limited with stable outlooks. Best said: The...
Jun 23 2008 // ACE Bermuda International announced that effective July 1, 2008 all CODA policies will be issued at inception. The company also announced the launch of its new 2008 CODA policy aimed at the UK business market, featuring...
Jun 18 2008 // ACE has announced the appointment of Matthew Shaw as Chief Underwriting Officer, ACE Global Markets (AGM). He will also become the Chairman, ACE Tempest Re Europe, where he was previously Managing Director. He will report...
Jun 16 2008 // Asian insurers may go on a buying spree. A number of companies, particularly China’s major players, are likely to seize the credit crunch as an opportunity to snap up assets in Europe and the United States, said a...
Jun 6 2008 // A bulletin from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) notes that as of the beginning of the 2008 Atlantic Hurricane season, all sixteen original member governments “have signaled their continued...
Jun 3 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of Bermuda-based Through Transport Mutual Insurance Association Limited (TTB)...
Jun 2 2008 // Bermuda’s insurance regulator is increasing staffing by as much as 50 percent as it sets its sights on eventually reaching a mutual recognition agreement with other domiciles, executives at an insurance conference...