All the headlines from our Bermuda Topic Page, ordered by recency.
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...
Nov 15 2000 // Moody’s Investors Service has issued its annual report on on Bermuda, reaffirming its “Aa1 rating for foreign currency country ceiling and its Aaa domestic debt credit rating.”The ratings, said...
Nov 14 2000 // Guy Carpenter and Company, the reinsurance arm of Marsh Inc. has announced the opening of offices in Bermuda to be headed by Bert Golinski, who “will maintain responsibility for his current US-based and Bermuda...
Oct 24 2000 // Trilon Financial Corp., one of Canada’s leading financial services companies, announced the formation of Imagine Reinsurance Holdings in Bermuda with initial capitalization of $200 million, which it hopes to increase...
Aug 17 2000 // Global Risk Exchange (GRX) received a big boost Wednesday with the announcement that two Bermuda based insurance investment vehicles Oil Investment Corporation Ltd. (OICL) and Oil Casualty Investment Corp.,Ltd. (OCICL) had...