Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
AXIS Global Names Housley President
May 23 2006 // Bermuda’s AXIS Capital has named Richard Housley, currently European Division President of AXIS Insurance, as President of AXIS Global Insurance. He will directly oversee all operating and underwriting activities...
Best Assigns ACE/INA Debt ‘a-‘ Rating
May 11 2006 // A.M. Best Co. announced that it has assigned a rating of “a-” to ACE INA Holdings, Inc.’s $300 million 30-year 6.7 percent senior unsecured notes. The notes are guaranteed by ACE INA Holdings’...
Best Affirms Arch ‘A-‘ Ratings
May 2 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating (FSR) of “A-” (Excellent) for Bermuda-based Arch Reinsurance Ltd. and its reinsured affiliates. Best has also affirmed the issuer...
S&P, Best Comment on IPC Share Sale
Apr 21 2006 // Standard & Poor’s Ratings Services moved quickly to affirm its “A” counterparty credit and financial strength ratings on IPCRe Ltd. and its “A” financial strength rating on IPCRe Europe...
Best Affirms BF&M Limited and Affiliates ‘A’ Rating
Apr 5 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating (FSR) of “A” (Excellent) to Bermuda-based BF&M Limited and its operating affiliates with a stable outlook. “These rating...
Best Affirms Steamship Mutual Underwriting (Bermuda) Rating
Mar 27 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and assigned an issuer credit rating of “a-” to The Steamship Mutual Underwriting Association (Bermuda)...
Montpelier Re Names Harris Chief Underwriting & Risk Officer
Mar 21 2006 // Bermuda-based Montpelier Re Holdings Ltd. announced that Christopher L. Harris has been appointed Chief Underwriting & Risk Officer of the Company and of Montpelier Reinsurance Ltd. with immediate effect, subject to...
Best Affirms FSR for Lloyd’s Syndicate 1225; Outlook is Stable
Mar 6 2006 // 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 1225 (United Kingdom), which is managed by AEGIS Managing Agency...
Best remains negative on U.S., Bermuda reinsurance markets; expects no upgrades in 2006
Mar 6 2006 // Despite some premium gains during the renewal season, A.M. Best remains negative on the U.S. and Bermuda reinsurance markets. The rating agency doesn’t think there will be any rating upgrades or positive rating...
Lord Levene Answers Questions after Bermuda Conference
Mar 1 2006 // Following last week’s World Insurance Forum in Bermuda, Lloyd’s chairman Lord Peter Levene undertook to give his answers to some important questions in a Q&A format on the Lloyd’s Website...
RMS CEO Discusses Cat Models at Bermuda Conference
Mar 1 2006 // Speaking at the World Insurance Forum in Bermuda, Hemant Shah, Risk Management Solutions CEO, warned that insurers should be preparing to increase their reserves for catastrophe losses, not only due to the unprecedented...
Aon’s White Rock Launches New Segregated Accounts Company
Feb 24 2006 // White Rock, the Aon-owned, Bermuda-based specialist in protected cell companies and rent-a-captives, has announced the addition of a segregated accounts company, White Rock Insurance (SAC) Bermuda Ltd (White Rock Bermuda),...
Best Maintains Negative Outlook on U.S. and Bermuda Re Sectors
Feb 16 2006 // A.M. Best Co. announced that after completing an assessment of the U.S. and Bermuda reinsurance markets, it is extending its negative outlook for 2006. Best said it “anticipates that there will be few if any rating...
The World Insurance Forum Set for Feb. 21-23 in Bermuda
Feb 9 2006 // The World Insurance Forum, set for Feb. 21-23, is an industry hosted conference for world insurers, reinsurers, risk managers, regulators, financiers and brokers. It is a biennial event held in Bermuda and provides a...
Platinum to Name Porter CEO-Bermuda
Jan 27 2006 // Bermuda-based Platinum Underwriters Holdings Ltd. announced that Robert S. Porter will be appointed chief executive officer of its Bermuda reinsurance subsidiary, Platinum Underwriters Bermuda, Ltd., pending approval of...
RI3K Head Warns Lloyd’s of Need to Reform to Survive
Jan 26 2006 // In a speech to the Insurance Institute of London yesterday, Jan. 25, Alex Letts, the Chief Executive of RI3K Ltd. – the London-based provider of platform technology infrastructure for the reinsurance industry,...
Sovereign Changing Ownership Structure; XL to Exit Joint Venture
Jan 23 2006 // Sovereign Risk Insurance Ltd., a joint venture between ACE Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd., reported that effective Feb. 1, 2006, it is intended that the company will become wholly owned by ACE and...
A seriously shaken reinsurance industry rebuilds
Jan 23 2006 // Although Katrina is long gone, the clouds of misfortune she and her sisters generated will linger for decades. They radiate well beyond Louisiana, Florida, Texas, Mississippi, Alabama and other regions into the heart of...
Reinsurance Outlook
Jan 22 2006 // Although Katrina is long gone, the clouds of misfortune she and her sisters generated will linger for decades. They radiate well beyond Louisiana, Florida, Texas, Mississippi, Alabama and other regions into the heart of...
Lloyd’s Launches “Optimal Platform” to Meet Foreign Competition
Jan 17 2006 // Lloyd’s has launched a new three-year plan to keep the London market healthy in the face of growing foreign competition, especially from Bermuda. The plan, called the Optimal Platform, outlines a “package of...
