Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
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...
S&P Rates Gard P&I (Bermuda) ‘A+’; Outlook Stable
May 16 2007 // Standard & Poor’s Ratings Services has assigned its “A+” long-term counterparty credit and insurer financial strength ratings to Bermuda-based marine insurer Gard P&I (Bermuda) Ltd. with a...
Commercial insurers’ stock trades down in first quarter; M&As slow as well
May 7 2007 // Stock Prices: Commercial line insurers’ stocks traded down 2 percent for the first quarter of 2007. The only company reporting significant stock gains for the first quarter was CNA Financial Corp. (NYSE:CNA) whose...
Commercial insurers’ stock trades down in first quarter; M&As slow as well
May 7 2007 // Stock Prices: Commercial line insurers’ stocks traded down 2 percent for the first quarter of 2007. The only company reporting significant stock gains for the first quarter was CNA Financial Corp. (NYSE:CNA) whose...
AIG’s Lexington Opens Bermuda Office
Apr 26 2007 // Lexington Insurance Company, a member company of American International Group, Inc. announced it has opened a property and casualty insurance underwriting office in Hamilton, Bermuda. “Establishing this new office...
News Currents
Apr 23 2007 // Texas AG, Allied World Assurance settle antitrust suit A settlement has been reached in an investigation that Texas Attorney General Greg Abbott says uncovered collusion between a Bermuda-based commercial casualty insurer...
Endurance Sponsors World Open Bermuda 2007 Squash Championships
Apr 17 2007 // Bermuda’s Endurance Specialty Holdings Ltd. announced that it is the title sponsor for the “Endurance World Open Bermuda 2007 Squash Championships.” The bulletin explained that the “Men’s...
Elderfield Named New Bermuda Monetary Authority CEO
Apr 16 2007 // The Bermuda Monetary Authority, which among other things regulates the island’s insurance industry, announced that Matthew Elderfield has been appointed as the organization’s next CEO. He “brings 20 years...
Thomas Joins Amlin Bermuda as Underwriter
Apr 11 2007 // Amlin Bermuda Ltd., Amlin’s wholly owned reinsurance business, has appointed Alun Thomas as an underwriter, reporting to Underwriting Director John Andrews. Alun joins from Aon Limited, where he was a director of...
Business Moves
Apr 9 2007 // Nurses RRG, Florida Nurses Association Sophia Palmer Nurses Risk Retention Group, Inc. will offer malpractice insurance to Florida nurses in partnership with the Florida Nurses Association. The newly formed Risk Retention...
Business Moves
Apr 9 2007 // Argonaut, PXRE Argonaut Group Inc., a specialty underwriter headquartered in San Antonio, Texas, and PXRE Group Ltd., a Bermuda-based property reinsurer, agreed to a merger under which the combined entity will do business...
Bermuda Not a Threat; Lloyd’s Welcomes ‘Healthy Competition’
Apr 5 2007 // The London Market in general and Lloyd’s in particular has been having an ongoing debate for the last few years over the place Bermuda-based companies occupy in the overall market. Are they basically competitors, who...
Best Downgrades Steamship Mutual Bermuda and UK Ratings
Mar 29 2007 // In separate bulletins A.M. Best announced that it has downgraded the financial strength rating of The Steamship Mutual Underwriting Association (Bermuda) Limited (the Club) and its UK operation Steamship London to...
Lancashire Promotes Burton, Whelan, Porter
Mar 28 2007 // Lancashire Holdings Limited, which writes a diversified mix of specialty insurance lines both catastrophe and non-catastrophe from twin platforms in Bermuda and London, announced three senior management promotions, as...
Business Moves
Mar 26 2007 // Mercury General commemorates 10th anniversary at NYSE Mercury General Corp. rang The Opening Bell at the New York Stock Exchange on Friday, March 9, 2007, to commemorate its 10th anniversary of being listed on the NYSE....
Insurer Argonaut, Reinsurer PXRE to Merge, Forming Argo Group
Mar 15 2007 // Argonaut Group, Inc., a specialty underwriter, and PXRE Group Ltd., a Bermuda-based property reinsurer, have agreed to a merger under which the combined entity will do business as Argo Group International Holdings...
Hiscox Profits up 186% to $388 Million
Mar 13 2007 // The newly Bermuda-based Hiscox Ltd. announced greatly improved preliminary results for the year ended December 31, 2006, with record pretax profits of £201.1 million ($388 million) compared to £70.2 million ($135.5...
Max Re Name Change
Mar 7 2007 // Bermuda-based Max Re Capital Ltd. announced that it will seek shareholder approval to change the Company’s name to Max Capital Group Ltd. at the 2007 Annual General Meeting of Shareholders (AGM) to be held on Friday,...
Max Re Names Rainey Executive VP & CFO of Max Europe Holdings
Feb 20 2007 // Bermuda-based Max Re Capital Ltd. announced that Walker Rainey, previously Senior VP and CFO of Max Europe Holdings Limited, has been promoted to Executive Vice President and CFO of Max Europe Holdings, effective...
People and Places
Feb 12 2007 // William J. Mullaney was named president of MetLife’s Institutional Business segment. He succeeds Leland C. Launer Jr., who has decided to pursue other opportunities. Mullaney most recently served as president of...
