Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
AXIS Capital Not Engaged in Buyout Talks with Arch – Sources
Jun 19 2015 // AXIS Capital Holdings Ltd. has not communicated with any potential acquirer, including Arch Capital Ltd., since it engaged in merger talks with competitor PartnerRe Ltd last fall, people familiar with the matter said on...
AXIS Share Price Climbs on Speculation It Is Potential Takeover Target
Jun 16 2015 // AXIS Capital Holdings Ltd., the insurer that agreed to merge with PartnerRe Ltd., jumped in New York trading on speculation that the deal could fall apart, which could put AXIS in play to be taken over by another...
Update: Bermuda Court Rules in Favor of PartnerRe; EXOR Responds
Jun 8 2015 // The Supreme Court of Bermuda has denied EXOR’s request to obtain shareholder information from PartnerRe, the reinsurer that is seeking to merge with AXIS Capital Holdings and avoid a hostile takeover from EXOR...
Ariel Re to Use Xuber Software for Lloyd’s and Bermuda Reinsurance
Jun 8 2015 // Xuber, Xchanging’s insurance software business, announced that it has been appointed by P/C reinsurer Ariel Re to provide “the Xuber ‘for Reinsurers solution suite’ for the company’s...
Dircks Named Senior Vice President for Lockton Global Energy in Bermuda
Jun 3 2015 // Insurance broker Lockton has named Josh Dircks as a senior vice president in Lockton Bermuda to expand the capabilities of the Lockton Global Energy expertise on the island. As a key senior leader of the Lockton Global...
Bermuda Monetary Authority Appoints Lespere as Chief Operations Officer
May 22 2015 // The Bermuda Monetary Authority has appointed Shanna Lespere as its chief operations officer (COO). In her new position, effective immediately, Lespere will oversee the authority’s operational functions –...
Montpelier Re to Hold Special Shareholders’ Meeting on Endurance Acquisition
May 22 2015 // Bermuda-based Montpelier Re Holdings Ltd announced that it has scheduled a special general meeting of its shareholders to “consider and vote upon a proposal to approve the previously announced Agreement and Plan of...
Insurance Linked Securities Specialist Nephila Hired by Blackstone Vehicle
May 20 2015 // A Blackstone Group LP vehicle offering hedge fund strategies to mutual fund investors plans to allocate money to a firm backed by rival KKR & Co. The Blackstone Alternative Multi-Strategy Fund is hiring Nephila Capital...
IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers
May 19 2015 // The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters...
AXIS Capital Could Attract Offer From Arch Capital: Report
May 7 2015 // AXIS Capital Holdings Ltd. climbed in New York trading on Wednesday after “Insurance Insider” reported that the company, which has agreed to merge with PartnerRe Ltd., could draw a bid from Arch Capital Group...
IRS Weighs Rules on Hedge Fund Managers’ Use of Reinsurance
Apr 24 2015 // Hedge fund managers including billionaire John Paulson won’t immediately face new limits on their use of insurance in offshore tax havens, after the IRS proposed rules and chose not to make them effective now. The...
Hedge Fund-Backed Bermuda Ventures Could Be at Risk From IRS
Apr 24 2015 // Investment vehicles set up by Paulson & Co. and Highbridge Capital Management in tax-friendly Bermuda may be under threat from the U.S. Internal Revenue Service. The IRS, in proposed rules published Thursday, said that...
ACE Appoints Fletcher ACE Bermuda Chairman; Clabby, Gonsalves Promoted
Apr 21 2015 // ACE Group has announced several key executive appointments in its ACE Bermuda business. Rees Fletcher has been named Chairman of ACE Bermuda. He joined ACE Bermuda 26 years ago, rising to the position of Senior Vice...
Willis Takes On Big Banks Seeking Asia M&A under Walkiewicz and Guo
Apr 20 2015 // Willis Group Holdings plc’s Rafal Walkiewicz and Michael Guo, who were promoted last week to lead the investment-banking operation, are focusing on Asia as they vie with Wall Street in advising insurance...
Validus Holdings Promotes 3 Underwriting Execs in Bermuda
Apr 15 2015 // Validus Reinsurance, Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. has announced a number of underwriting promotions in its Bermuda office, “strengthening the capabilities and breadth of its global...
Bermuda Re/Insurers Post Strong 2014 Global Underwriting Results: ABIR
Apr 6 2015 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2014 global underwriting results for its member (re)insurers, with 19 of 21 member (re)insurers participating in the survey. The ABIR said:...
Ruoff Appointed Chief Executive Officer of Tokio Millennium Re
Apr 2 2015 // Stephan Ruoff has been appointed chief executive officer of Tokio Millennium Re AG (TMR), a Zurich-based subsidiary of Tokio Marine & Nichido Fire Insurance Co. Ltd. Ruoff has worked with TMR, a global multi-line...
Willis Appoints Scope as Chairman of its Bermuda Operations
Apr 2 2015 // Willis Group Holdings announced the appointment of Paul Scope as Chairman of Willis Bermuda, encompassing all of the firm’s operations on the Island, effective immediately. He will oversee Willis’s whole range...
BlackRock, ACE Raise $800 Million to Form Bermuda Reinsurer
Apr 2 2015 // BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. raised $800 million for a reinsurance venture, at the low end of the announced range. ABR Reinsurance Capital Holdings Ltd....
