Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Best Revises Allied World, Affiliates ICR Outlook to Positive; Affirms Ratings
Oct 26 2011 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the issuer credit ratings (ICR) of “a” of Allied World Assurance Company, Ltd and its operating affiliates. Best also affirmed the...
Best’s Managing Director-Europe: Solvency II is Coming to an Insurer near You
Oct 24 2011 // Stefan Holzberger, A.M. Best’s managing director-analytics, recently moved to London from the U.S. He is well placed to analyze the impact of the European Union’s Solvency II regulations, not only on the...
Bermuda Re/Insurers Announce Q3 Cat Loss Estimates
Oct 17 2011 // A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries,...
Best Affirms Aspen UK, Bermuda Companies and Subs Ratings; Outlook Stable
Oct 14 2011 // A.M. Best Europe – Ratings Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Aspen...
Ratings Recap: HSB (UK), Nissan Global Re, Optima, Hatherley/Park
Oct 13 2011 // A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit rating to “aa+” from...
Catalina Holdings (Bermuda) Completes Residential Loss Control Acquisition
Oct 13 2011 // Catalina Holdings (Bermuda) Ltd announced that following regulatory approval from the Colorado and Hawaii Departments of Insurance, it has completed the acquisition of Residential Loss Control Holdings, LLC (RLCH), which...
Endurance Appoints Lamer to Head U.S. Property Cat Treaty Reinsurance
Oct 13 2011 // Bermuda-based Endurance Specialty Holdings Ltd announced that Rene Lamer will assume the role of Senior Vice President and Head of U.S. Property Catastrophe Treaty Reinsurance. He is a Bermuda citizen, and will continue to...
ACE Tempest Re Appoints Mardon Division President of Bermuda Operations
Oct 13 2011 // ACE Tempest Re Group has appointed Tim Mardon as Division President of ACE Tempest Re Bermuda. He will have responsibility for all operating aspects of the company’s Bermuda-based property and casualty reinsurance...
Hurricane Ophelia Sweeps Past Bermuda, Heads North
Oct 3 2011 // Hurricane Ophelia swirled to the east of Bermuda Saturday, whipping up showers, thunderstorms and surf on the British overseas territory as it raced northwards over the Atlantic, forecasters said. Ophelia, the third major...
Ratings: AmerInst, Emirates, Jamaica Int’l., Salama/BEST RE, Colonial, Trust Re
Sep 15 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of ‘a-‘ of Bermuda-based AmerInst Insurance Company, Ltd., both with stable outlooks. AmerInst...
Fitzpatrick to Head U.S. Retail for Endurance Specialty
Sep 12 2011 // Sean M. Fitzpatrick is joining Bermuda-based Endurance Specialty Holdings Ltd. in the new role of president and head of U.S. property/casualty retail insurance. Fitzpatrick will be responsible for expanding...
Bermuda Signs Tax Agreement with South Africa
Sep 9 2011 // Bermuda’s Premier and Minister of Finance the Hon. Paula A. Cox has announced the signing of a bilateral Tax Information Exchange Agreement (TIEA), between Bermuda and the Republic of South Africa. The agreement,...
Montpelier Group Names Schaper as President of Montpelier Re
Sep 8 2011 // Montpelier Re Holdings Ltd. Has appointed Christopher T. Schaper as President of Montpelier Reinsurance Ltd. , effective November 25, 2011 – subject to the approval of the Bermuda Department of Immigration. He will...
Hurricane Center Tracking 3 Atlantic Storms: Katia, Maria and Nate
Sep 8 2011 // It’s a busy time of year for the National Hurricane Center in Miami. The NHC is currently following one hurricane – Katia, and two tropical storms – Maria and Nate. Katia is following the previously forecast...
Hurricane Katia Now Expected to Miss East Coast
Sep 6 2011 // Hurricane Katia powered up to a major Category 4 storm Monday, but was expected to veer away from the U.S. East Coast later this week, avoiding a direct hit on a seaboard already battered by Hurricane Irene. The U.S....
AXIS Re Appoints Krenboeck Marketing Director for Latin America
Sep 2 2011 // Bermuda-based AXIS Capital Holdings Limited announced that Bruno Krenboeck has joined AXIS Re as Marketing Director for Latin America. He has over 17 years experience in the international insurance industry with specific...
Best Affirms Catlin Insurance Companies Ratings; Outlooks Stable
Sep 2 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of ‘a’ of Bermuda-based Catlin Insurance Company...
Bermuda’s Catalina Holdings to Acquire Residential Loss Control Holdings
Aug 26 2011 // Catalina Holdings (Bermuda) Ltd. has announced that its wholly owned subsidiary, Catalina Echo Limited, signed a definitive merger agreement on August 22, 2011 to acquire Residential Loss Control Holdings, LLC...
Lancashire’s Shareholders Approve UK Tax Move Plan; Share Increase
Aug 22 2011 // Bermuda-based Lancashire Holdings Limited has received approval from its shareholders to proceed with its previously announced plan to move its tax residence to the UK. The company, which operates subsidiaries in both...
Bermuda Association Lauds Government Progress on Solvency II ‘Equivalence’
Aug 18 2011 // While U.S. regulators are beginning to be worried about the impending imposition of the European Union’s Solvency II regulations for the re/insurance industry, which will come into force in 2014, Bermuda has been...
