All the headlines from our Bermuda Topic Page, ordered by recency.
Jun 3 2002 // A.M. Best announced that it has downgraded the financial strength rating to B++ (Very Good) from A (Excellent) of Overseas Partners Ltd. (OPL) Bermuda, and removed the company from under review.It indicated that the...
May 22 2002 // The Bermuda-based Liverpool Fund, which owns a one percent stake in Italian insurer La Fondiaria, is reportedly considering taking legal action to block the decision by Consob, the Italian stock market regulator, that SAI,...
May 17 2002 // Endurance Specialty Insurance Ltd., the Bermuda-based p/c insurer established by Aon, Zurich Financial Services and other investors, has reached a definitive agreement to acquire the property catastrophe reinsurance...
May 13 2002 // After suffering its first ever net loss in 2001,an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of 2002...
May 13 2002 // After suffering its first ever net loss in 2001, an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of...
Apr 26 2002 // The St. Paul Companies announced plans to transfer its ongoing reinsurance operations to a newly-formed Bermuda-based reinsurer, Platinum Underwriters Holdings, Ltd. which intends to make a public offering of 75.1 percent...
Apr 18 2002 // A.M. Best announced that it has downgraded the financial strength rating to C (Weak) from B+ (Very Good) of the Bermuda-based I.P.C. Group, and removed the ratings from under review.Group operations affected include:...
Apr 17 2002 // The ongoing proposals by several lawmakers to make U.S. companies, notably insurers, who relocate to Bermuda subject to U.S. taxes, has drawn a terse response from Jennifer Smith, the island’s premier.“We...
Apr 3 2002 // In a recent discussion of the state of the p/c insurance and reinsurance market Kenneth J. LeStrange, Chairman, CEO and President of Bermuda-based Endurance Specialty Insurance, Ltd. saw continuing challenges, but also...
Mar 11 2002 // A.M. Best Co. has withdrawn the A- (Excellent) indicative financial strength rating of Danish Re Bermuda Ltd., following the delay in completing a USD 200 million private equity placement offer to increase its underwriting...
Feb 18 2002 // Settlement negotiations have been successfully concluded between Silverstein Properties, the master leaseholder on the destroyed World Trade Center, and ACE Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd, operating...
Feb 18 2002 // The World Insurance Forum, which begins in Bermuda tomorrow, will hear a keynote address from American International Group’s Sr. Vice-Chairman Thomas R. Tizzio on Wednesday Feb. 20, rather than AIG’s legendary...
Feb 14 2002 // In a move which took the insurance world by surprise, Bermuda-based Overseas Partners Ltd. announced its decision to stop writing new business immediately, to place its Bermuda operations into “an orderly...
Jan 31 2002 // ACE Bermuda Insurance Ltd., a subsidiary of ACE Limited, announced the promotion of Frank Lattal to Executive Vice President, General Counsel & Secretary, responsible for all legal affairs. Lattal will also take...
Jan 17 2002 // Alea Group Holdings (Bermuda) Ltd.(AGH) announced that it has received an additional $90 million of new equity capital from institutional investors, bringing the Group’s total operating capital to $600 million. AGH...
Jan 17 2002 // Zurich Global Energy® announced that Derek Ratteray has been appointed as Sr. VP of its International Casualty unit, based in Pembroke, Bermuda, effective February 1. “Ratteray will be responsible for providing...
Jan 9 2002 // Bermuda’s Max Re Capital Ltd. announced that it has purchased $50 million worth of shares in DaVinci Re Holdings Ltd, and its operating subsidiary DaVinci Reinsurance Ltd. (DaVinci Re), the new Bermuda-based property...
Jan 4 2002 // A.M. Best Co. assigned an initial financial strength rating of A- (Excellent) to Goshawk Reinsurance Limited (Goshawk Re), the recently established Bermuda-based subsidiary of the U.K.’s Goshawk Insurance Holdings...
Jan 4 2002 // Golden Gate Capital, a private equity investment firm based in San Francisco, Calif., has invested in Endurance Specialty Insurance, a Bermuda-based start-up focusing on the commercial property and liability insurance and...
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...