Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Evans Joins White Mountains as Executive VP-Global Reinsurance
Aug 7 2007 // Bermuda-based White Mountains Re Ltd. announced that Dwight Evans has joined the organization as Executive Vice President – Global Reinsurance, subject to the approval of Bermuda’s immigration authorities. He...
San Antonio’s SWBC Launches Reinsurance Company in Bermuda
Jul 23 2007 // San Antonio-based Southwest Business Corporation (SWBC) has formed a Bermuda reinsurance company, SWBC RE Ltd., the company announced. SWBC said the impetus for creating the reinsurance company stems from SWBC’s...
News Currents
Jul 23 2007 // Bermuda shorted as more U.S. captives form onshore, Aon reports Bermuda’s reign as the undisputed global leader among captive domiciles is being challenged by U.S. companies that are increasingly leaning toward...
Business Moves
Jul 2 2007 // Lancashire Insurance Co. Lancashire Insurance Co. Ltd. gained approval to provide insurance coverage on an excess and surplus basis for properties located in South Carolina. Lancashire intends to focus primarily on coastal...
Bermuda Shorted as More U.S. Captives Form Onshore, Aon Reports
Jun 27 2007 // Bermuda’s reign as the undisputed global leader among captive domiciles is being challenged by U.S. companies that are increasingly leaning toward onshore domiciles for their captive insurance companies. That is...
Guagliano Named Max Bermuda President, CEO
Jun 21 2007 // W. Marston (Marty) Becker, Chairman and CEO of the Bermuda-based Max Capital Group Ltd., announced that Angelo M. Guagliano, most recently Executive Vice President and Chief Underwriting Officer of Max Capital’s...
S&P Affirms Bermuda Insurers Ratings after ‘Hybrid Securities’ Review
Jun 20 2007 // Standard & Poor’s Ratings Services announced that it has “affirmed its ‘BBB+’ preferred stock rating on PartnerRe Ltd.; its ‘BBB’ preferred stock ratings on ACE Ltd. and...
S&P Examines Reinsurance M&A
Jun 20 2007 // Among other industry topics Standard & Poor’s Ratings Services’ 2007 Insurance Conference, “In Pursuit of Sustainable Earnings,” held June 3-5 in New York City, discussed possible...
Best Affirms Glencoe, Subs Ratings; Revises Outlooks to Positive
Jun 13 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and issuer credit ratings (ICR) of “a-” for the operating subsidiaries of Bermuda-based Glencoe Group Holdings Ltd....
S&P to Review ‘Hybrid Equity’ Covenants of Top Bermuda Insurers
Jun 8 2007 // Standard & Poor’s Ratings Services announced that it is “undertaking a review of the preference stock and other hybrid equity issues of the following seven insurers and reinsurers: ACE Ltd....
Recent Ratings Recap: Arab Orient; Strike Club
Jun 7 2007 // A.M. Best Co. has affirmed the financial strength rating of “B+” (Good) and the issuer credit rating of “bbb-” of Jordan’s Arab Orient Insurance Company with a stable outlook. The ratings...
Republic CEO: P/C mergers and acquisitions likely to ‘skyrocket’
Jun 4 2007 // The statutory surplus for property and casualty insurers is at a record $488 billion, according to the CEO of one Dallas-based regional carrier, and they are going to be looking for somewhere to put that cash to work....
Business Moves
Jun 4 2007 // Titan, Eastwood THI Holdings (Delaware) Inc., a Nationwide company, through one of its agency subsidiaries, has acquired the assets of Anaheim Hills, Calif.-based Eastwood Insurance Services Inc. for $217 million. Eastwood...
Republic CEO: P/C mergers and acquisitions likely to ‘skyrocket’
Jun 4 2007 // The statutory surplus for property and casualty insurers is at a record $488 billion, according to the CEO of one Dallas-based regional insurer, and they are going to be looking for somewhere to put that cash to work....
Best Issues Special Bermuda Report
May 30 2007 // A.M Best Co. has issued a special report on the Bermuda insurance market, which, among other analyses, compares the disastrous 2005 hurricane season with the startlingly benign one in 2006. Between the two Best notes that...
Recent Ratings Recaps: ACE (Aus. & NZ); CCR; Omega; Kiln
May 22 2007 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of ACE Insurance Limited (Australia) and ACE Insurance Limited (New Zealand)...
Shaw Names Redhead Chief Underwriting Officer
May 22 2007 // The D. E. Shaw group announced that Darren Redhead will be joining as the chief underwriting officer of D. E. Shaw Re (Bermuda), Ltd., its recently formed Bermuda-based Class 3 reinsurance company, which focuses on the P/C...
Lockton Launches Bermuda Operation
May 22 2007 // International broker and risk management services provider Lockton has launched operations in Bermuda, which will “give its global clients and associates direct access to risk capital.” The new office will...
Merkel: P/C Lessons from Bermuda
May 17 2007 // Bermuda? Business only. Going to hit about a dozen companies in two days with one of my favorite P&C analysts, Harry Fong of Calyon. I hope there are a decent number of insurance only buy-side analysts along for the...
Validus to Acquire Talbot Holdings; Best Puts Ratings under Review
May 16 2007 // Bermuda-based Validus Holdings, Ltd. has entered into a share sale agreement to acquire all of the outstanding shares of Talbot Holdings Ltd. from the institutional investors, employees and management who currently own...
