Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Tropical Storm Gert Strengthens, Will Brush Bermuda
Aug 15 2011 // Tropical Storm Gert strengthened slowly Sunday on a track toward Bermuda and forecasters said the global reinsurance hub could expect increased winds, rain and surf when the storm passed on its eastern side. Gert, the...
Best Revises Alterra, Operating Subs Outlook to Negative; Affirms Ratings
Aug 8 2011 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Alterra Bermuda Limited)...
Wafer to Replace Berger as Alterra’s Reinsurance CEO
Aug 3 2011 // Bermuda-based Alterra Capital Holdings Limited announced that John Berger, CEO of Reinsurance and a member of Alterra’s Board of Directors, is leaving in order to pursue a new opportunity. The company said Thomas C....
UPDATE – Validus Tops Allied World’s Bid for Transatlantic
Jul 12 2011 // Validus Holdings Ltd offered to buy reinsurer Transatlantic Holdings Inc for about $3.5 billion in cash and stock, trumping Allied World Assurance Co Holdings’ all-stock offer. Validus offered 1.5564 in shares and a...
Alterra Bermuda Approved for Reduced Collateral Status in New York
Jul 8 2011 // Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral...
Bermuda Signs Tax Information Agreement with Indonesia
Jun 27 2011 // Bermuda has signed a Tax Information Agreement, or TIEA, with the Republic of Indonesia at a ceremony in London on Wednesday, June 22, attended by Bermuda’s Premier, the Hon. Paula A. Cox, JP, MP, and H.E. Yuri...
Best Upgrades ACE Limited and Subs Issuer Credit Ratings; Affirms FSR’s
Jun 22 2011 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) and senior debt ratings to “a” from “a-” for Zurich-based ACE Limited and ACE INA Holdings Inc. Best has also upgraded the ICR to...
Best Affirms Ratings of Marine TT Clubs in Bermuda and UK
Jun 20 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’- (Excellent) and the issuer credit ratings of “a-” of Bermuda-based Through Transport Mutual Insurance...
Ratings Recap: Lititz, Integon, Maiden, AmTrust, MLBA Mutual
Jun 15 2011 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A+ (Superior) and issuer credit rating of “aa-” of Lititz Mutual Insurance Pool, which includes the...
S&P: No. Am, Bermuda Insurers Enhancing Enterprise Risk Management Efforts
May 2 2011 // In an article published on its web site Standard & Poor’s Ratings Services said it has outlined its “updated enterprise risk management (ERM) opinions for all of its rated North American and Bermudan...
Alterra Announces Reinsurance Role Changes and Promotions
Apr 20 2011 // Bermuda-based Alterra Capital Holdings Limited announced several role changes and promotions that will affect its corporate and reinsurance operations, including the appointments of Greg Richardson as Executive Vice...
ABIR Reports 2010 Results for Bermuda’s Re/Insurers; $11.4 Bn Net Income
Apr 18 2011 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2010 global underwriting results for its 22 member (re)insurers – companies that write insurance and reinsurance from underwriting centers in...
Ratings Roundup: Syndicate 382/Hardy, Samsung Europe
Apr 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, which is...
Florida Approves Arch Re Under Reduced Collateral Law
Apr 4 2011 // Florida has added another company to its growing list of reinsurers that are taking advantage of a state law that allows it to reduce its capital requirement. Arch Reinsurance Limited, a Bermuda-based reinsurer, received...
Florida Allows Reinsurer Alterra Bermuda to Reduce Collateral
Mar 29 2011 // Another reinsurer has stepped forward to take advantage of a Florida law that allows it to lower its collateral and still conduct business in the state. Florida regulators announced that Alterra Bermuda Limited has been...
Kane to Acquire HSBC’s Insurance Management Operations
Mar 11 2011 // Kane, a provider of specialist risk and insurance management services, announced that it has signed an agreement to acquire the insurance management operations of HSBC. The bulletin explained that “under the...
Ratings Recap: Risk Re, Argus
Mar 4 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Cayman Islands-based Risk Reinsurance Limited (RRL), both with stable outlooks. The...
Tokio Millennium Re Receives Authorization for Australia
Mar 3 2011 // Bermuda-based Tokio Millennium Re Ltd. (TMR), a subsidiary of Japan’s Tokio Marine & Nichido Fire Insurance Co., Ltd., announced that the Australian Prudential Regulation Authority (APRA) has authorized...
Lower Collateral for 7 Reinsurers
Jan 24 2011 // Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that...
Florida Approves Lower Collateral for Renaissance Re
Jan 4 2011 // Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that...
