Latest Bermuda Headlines

All the headlines from our Bermuda Topic Page, ordered by recency.

Business Moves

Jun 4 2007 // Titan, EastwoodTHI Holdings (Delaware) Inc., a Nationwide company, through one of its agency subsidiaries, has acquired the assets of Anaheim Hills, Calif.-based Eastwood Insurance Services Inc. for $217 million. Eastwood...

Republic CEO: P/C mergers and acquisitions likely to ‘skyrocket’

Jun 4 2007 // The statutory surplus for property and casualty insurers is at a record $488 billion, according to the CEO of one Dallas-based regional insurer, and they are going to be looking for somewhere to put that cash to work....

Best Issues Special Bermuda Report

May 30 2007 // A.M Best Co. has issued a special report on the Bermuda insurance market, which, among other analyses, compares the disastrous 2005 hurricane season with the startlingly benign one in 2006.Between the two Best notes that...

Recent Ratings Recaps: ACE (Aus. & NZ); CCR; Omega; Kiln

May 22 2007 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of ACE Insurance Limited (Australia) and ACE Insurance Limited (New Zealand)...

Shaw Names Redhead Chief Underwriting Officer

May 22 2007 // The D. E. Shaw group announced that Darren Redhead will be joining as the chief underwriting officer of D. E. Shaw Re (Bermuda), Ltd., its recently formed Bermuda-based Class 3 reinsurance company, which focuses on the P/C...

Lockton Launches Bermuda Operation

May 22 2007 // International broker and risk management services provider Lockton has launched operations in Bermuda, which will “give its global clients and associates direct access to risk capital.” The new office will...

Merkel: P/C Lessons from Bermuda

May 17 2007 // Bermuda? Business only. Going to hit about a dozen companies in two days with one of my favorite P&C analysts, Harry Fong of Calyon. I hope there are a decent number of insurance only buy-side analysts along for the...

Validus to Acquire Talbot Holdings; Best Puts Ratings under Review

May 16 2007 // Bermuda-based Validus Holdings, Ltd. has entered into a share sale agreement to acquire all of the outstanding shares of Talbot Holdings Ltd. from the institutional investors, employees and management who currently own...

S&P Rates Gard P&I (Bermuda) ‘A+’; Outlook Stable

May 16 2007 // Standard & Poor’s Ratings Services has assigned its “A+” long-term counterparty credit and insurer financial strength ratings to Bermuda-based marine insurer Gard P&I (Bermuda) Ltd. with a...

Commercial insurers’ stock trades down in first quarter; M&As slow as well

May 7 2007 // Stock Prices: Commercial line insurers’ stocks traded down 2 percent for the first quarter of 2007.The only company reporting significant stock gains for the first quarter was CNA Financial Corp. (NYSE:CNA) whose...

Commercial insurers’ stock trades down in first quarter; M&As slow as well

May 7 2007 // Stock Prices: Commercial line insurers’ stocks traded down 2 percent for the first quarter of 2007.The only company reporting significant stock gains for the first quarter was CNA Financial Corp. (NYSE:CNA) whose...

AIG’s Lexington Opens Bermuda Office

Apr 26 2007 // Lexington Insurance Company, a member company of American International Group, Inc. announced it has opened a property and casualty insurance underwriting office in Hamilton, Bermuda. “Establishing this new office...

News Currents

Apr 23 2007 // Texas AG, Allied World Assurance settle antitrust suitA settlement has been reached in an investigation that Texas Attorney General Greg Abbott says uncovered collusion between a Bermuda-based commercial casualty insurer...

Endurance Sponsors World Open Bermuda 2007 Squash Championships

Apr 17 2007 // Bermuda’s Endurance Specialty Holdings Ltd. announced that it is the title sponsor for the “Endurance World Open Bermuda 2007 Squash Championships.” The bulletin explained that the “Men’s...

Elderfield Named New Bermuda Monetary Authority CEO

Apr 16 2007 // The Bermuda Monetary Authority, which among other things regulates the island’s insurance industry, announced that Matthew Elderfield has been appointed as the organization’s next CEO. He “brings 20 years...

Thomas Joins Amlin Bermuda as Underwriter

Apr 11 2007 // Amlin Bermuda Ltd., Amlin’s wholly owned reinsurance business, has appointed Alun Thomas as an underwriter, reporting to Underwriting Director John Andrews. Alun joins from Aon Limited, where he was a director of...

Business Moves

Apr 9 2007 // Nurses RRG, Florida Nurses AssociationSophia Palmer Nurses Risk Retention Group, Inc. will offer malpractice insurance to Florida nurses in partnership with the Florida Nurses Association. The newly formed Risk Retention...

Business Moves

Apr 9 2007 // Argonaut, PXREArgonaut Group Inc., a specialty underwriter headquartered in San Antonio, Texas, and PXRE Group Ltd., a Bermuda-based property reinsurer, agreed to a merger under which the combined entity will do business...

Bermuda Not a Threat; Lloyd’s Welcomes ‘Healthy Competition’

Apr 5 2007 // The London Market in general and Lloyd’s in particular has been having an ongoing debate for the last few years over the place Bermuda-based companies occupy in the overall market. Are they basically competitors, who...

Best Downgrades Steamship Mutual Bermuda and UK Ratings

Mar 29 2007 // In separate bulletins A.M. Best announced that it has downgraded the financial strength rating of The Steamship Mutual Underwriting Association (Bermuda) Limited (the Club) and its UK operation Steamship London to...