Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Biden Hits McCain Over ‘Bermuda Loophole’ for U.S. Insurers
Sep 25 2008 // Democratic vice presidential candidate Joe Biden said Republican John McCain protected offshore tax shelters worth billions of dollars to U.S. insurance giants. In a trip to the battleground state 0f Virginia this week,...
Sovereign Risk Appoints Demeyer as New Senior Underwriter
Sep 24 2008 // Bermuda-based Sovereign Risk Insurance Ltd. announced that Sophie Demeyer will join the Company as a Vice President and Senior Underwriting Officer. She will replace Nila Davda, who is relocating to open Sovereign’s...
Lister Joins AXIS Capital Board
Sep 23 2008 // Bermuda-based AXIS Capital Holdings Limited announced that Cheryl-Ann Lister has been appointed to its Board as an independent director. She will serve as a Class II Director and as a member of the Audit Committee of the...
Organizations Opposed to U.S. Insurance Tax Bill Issue Statement
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
Best Affirms Hiscox Lloyd’s Syndicate 33 ‘A’ Ratings
Sep 18 2008 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 33, which is managed by Hiscox Syndicates Limited...
Best Upgrades Hiscox Ratings to ‘A’
Sep 18 2008 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICRs) to “a” from “a-” of Hiscox...
Bermuda Association Explains Reinsurance Risk Spreading Role
Sep 15 2008 // “The global reinsurance market plays an integral role in spreading US hurricane risk around the world,” said a bulletin from the Association of Bermuda Insurers and Reinsurers (ABIR). “Without it, the...
Allied World Names D’Orazio Chief Underwriter; Bell Operating and Admin.
Sep 11 2008 // Allied World Assurance Company Holdings has announced two senior management promotions. Frank D’Orazio has been named Chief Underwriting Officer of Allied World Assurance Company, its Bermuda insurance subsidiary,...
Reinsurers Seeking Sidecars to Ride Out Next Big Storm
Sep 10 2008 // As Hurricane Ike takes aim at the Gulf of Mexico, triggering memories of 2005’s devastating storms, reinsurers see temporary underwriting vehicles as the solution to their capital needs in the event of “the Big...
Allied World to Open Swiss Branch
Sep 9 2008 // Bermuda-based Allied World Assurance Company Holdings announced that it will open a branch office in Zug, Switzerland that offers reinsurance products throughout Europe and beyond. The office, located at Lindenstrasse 4,...
Lloyd’s Oxygen Opens Bermuda Subsidiary Company
Sep 9 2008 // Oxygen Insurance Brokers, a Lloyd’s accredited London Market insurance intermediary, announced the expansion of their specialist reinsurance division, Oxygen Re, with the incorporation of Oxygen Insurance (Bermuda)...
Ratings: Hull Club, Lloyd’s Syndicate 623/2623, Flagstone Re, First Net
Sep 8 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on marine mutual insurer Norwegian Hull Club (NHC) to ‘A-‘ from...
Willis Appoints McGeehan Exec. VP – Managing Director for Bermuda
Sep 4 2008 // Willis Group Holdings has announced the appointment of Vince McGeehan as Executive Vice President and Managing Director of Willis Bermuda, effective immediately. He is responsible for the company’s insurance broking...
Speak Up if You Care …
Sep 1 2008 // The Case for Risk Management and Insurance Education If you’re like most insurance firms, your workforce is aging. Or, as a friend of mine recently put it, “There’s a lot of gray hair in the room.”...
Business Moves
Aug 21 2008 // Allied World, Darwin Bermuda-based Allied World Assurance Co., Ltd. has agreed to acquire Connecticut-based Darwin Professional Underwriters, Inc. Darwin offers specialty and primary professional lines coverages, which...
Business Moves
Aug 21 2008 // Allied World, Darwin Professional Bermuda-based Allied World Assurance Co., Ltd. has agreed to acquire Connecticut-based Darwin Professional Underwriters, Inc. Darwin offers specialty and primary professional lines...
People
Aug 21 2008 // W.R. Berkley Corp. named William M. Rohde Jr. president of Acadia Insurance Co., succeeding Bill Thornton, who now is chairman of Berkley Regional Specialty Insurance Co. Walter E. Stradley remains president of Berkley...
By Charles E. Boyle
Aug 21 2008 // From Novelty to Necessity: Bermuda’s Insurance Market 2008 Bermuda’s insurance industry has grown steadily since it began 50 years ago. It is now a mature market, and, in certain sectors – natural...
Soft Market Hammers Commercial Carriers’ Stocks; M&As Active in Personal Lines Sector
Aug 21 2008 // Stock Prices: The soft market continues to have an effect on insurers’ stock prices. With the inability of insurers to grow in the current market, commercial insurers’ stocks are still falling, down 18 percent...
Flagstone Re Holdings to Merge Bermuda, Swiss Operations
Aug 19 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that it will restructure its global reinsurance operations by merging its two wholly owned subsidiaries, Flagstone Reinsurance Limited of Bermuda and Flagstone...
