All the headlines from our Bermuda Topic Page, ordered by recency.
Nov 12 2001 // The reinsurance industry is gearing up to replace a good portion of the capital lost in the Sept. 11 attacks, and companies are also seeking to place themselves in a position to profit from the expected surge in demand and...
Nov 12 2001 // During the last hard market, much of corporate America wasted little time in stepping up the search for risk transfer alternatives to traditional commercial insurance. The current hard market appears to be no different if...
Nov 8 2001 // Aon Corp. and Zurich Financial Services will sponsor and partially fund, Endurance Specialty Insurance Ltd., a new Bermuda-based insurance capacity vehicle with an initial capitalization of $1.2 billion. Each of the...
Nov 5 2001 // Bermuda-based White Mountains Insurance Group joined the race for new reinsurance capacity on Friday with the announcement that it would establish a new reinsurer with an initial capital of $1 billion.The company said it...
Oct 29 2001 // If the nautical term best applied to the reinsurance industry last year this time would have been “Steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve qui...
Oct 25 2001 // Arch Capital (AC) joined other Bermuda-based insurers in announcing plans to establish a new reinsurance company. Backed by the private equity firms Warburg Pincus and San Francisco’s Hillman & Friedman, Arch...
Oct 10 2001 // A number of global insurers/reinsurers have acknowledged greater exposure to claims related to the destruction of the World Trade Center, with increased estimates for the amount they expect to pay out. The total cost to...
Sep 17 2001 // A number of Bermuda-based insurers have extended their condolences to the families of victims of the terror attacks on the World Trade Center and the Pentagon. Bermuda’s two largest insurers, ACE and XL, made...
Aug 27 2001 // Bermuda’s rapidly developing offshore banking and insurance business is apparently causing problems for the island’s infrastructure which are serious enough to warrant a government study on how to limit future...
Aug 20 2001 // During the last hard market, much of corporate America wasted little time in stepping up the search for risk transfer alternatives to traditional commercial insurance. The current hard market appears to be no different if...
Jul 2 2001 // A.M. Best has assigned an initial rating of ‘A’ (Excellent) to Hannover Re subsidiary, Hannover Re (Bermuda) Ltd. Commenting on the ratings, Best’s announcement said: “The rating reflects the...
Jun 29 2001 // The Enstar Group, Inc., based in Montgomery Ala., announced plans, together with Bermuda’s Castlewood Ltd., to acquire two reinsurance companies currently in run-off.They will take over London-based River Thames...
Apr 24 2001 // First quarter results from Bermuda’s RenaissanceRe Holdings and the Everest Re Group confirmed the much anticipated upturn in reinsurance rates. RenRe posted a 21 percent increase in net operating income to $37.3...
Apr 24 2001 // Scottish Annuity & Life Holdings Ltd. announced that it’s planning on moving “its corporate and international reinsurance operations” to Bermuda” from their present location in the Cayman...
Apr 20 2001 // Dublin-based insurer ACE European Markets Insurance Ltd. will expand the ACE Group’s activities in the London market with the opening of a new office in the city to be headed by Stephen French, currently the...
Apr 17 2001 // Bermuda’s XL Capital Ltd. announced that its new headquarters were ready, and that it was relocating “from Cumberland House to XL House, a purpose-built office facility the Company owns near the center of...
Dec 26 2000 // Everest Reinsurance (Bermuda) Ltd., a subsidiary of the Everest Re Group announced that it has “acquired AFC Re Ltd., a Bermuda based annuity/life reinsurer, from AFC Holdings Ltd. for approximately $17 million in a...
Dec 11 2000 // The taxation of foreign insurers, reinsurers, captives banks and financial service providers, involves some very complex international issues, heavily charged with “political considerations.” HR 4192, or the...
Dec 7 2000 // Hugh Rosenbaum, a retired consultant with Tillinghast-Towers Perrin, speaking at the 10th Annual World Captive and Alternative Risk Financing Forum, sees recent Bermuda legislation as increasing the use of offshore captive...
Nov 20 2000 // Continuing its specialized growth strategy, Bermuda based Overseas Partners Ltd.(OPL) announced that it has acquired “a team of finite risk professionals from Stockton Re, Bermuda, a recognized leader in the finite...