Latest Bermuda Headlines

ACE Appoints Rebellato Sr. VP

Oct 11 2005 // ACE Bermuda Insurance Ltd. has announced the appointment of Robert Rebellato to the position of Senior Vice President in its property division. He will assume responsibility for the management of ACE Bermuda’s global...

ACE USA Forms Energy Risk Unit

Oct 10 2005 // ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, announced the formation of ACE Energy, a new retail business unit which will focus on serving the complex insurance needs of the U.S. energy...

Sep 5 2005 // Extreme Weather Hits Europe: Devastating wild fires in Portugal; torrential rains in Switzerland, Austria, Germany and Romania; drought in much of France. There seems to be no end to the list of extreme weather conditions...

International Newsbriefs

Sep 5 2005 // Extreme Weather Hits Europe: Devastating wild fires in Portugal; torrential rains in Switzerland, Austria, Germany and Romania; drought in much of France. There seems to be no end to the list of extreme weather conditions...

Everest Re Extends CEO Taranto’s Employment Agreement

Sep 1 2005 // The Bermuda-based Everest Re Group, Ltd. announced that the employment agreement of Chairman and CEO Joseph V. Taranto, has been extended to March 31, 2008. Taranto has been in charge at Everest Re since it was formed in...

AWAC Promotes D’Orazio to Senior VP, Global Mgr. – General Casualty Division

Aug 29 2005 // Bermuda-based Allied World Assurance Company, Ltd. (AWAC) announced that Frank N. D’Orazio has been named senior vice president and global manager of its General Casualty division. He is charged with setting and...

International Newsbriefs

Aug 22 2005 // Second Quarter Profit Figures on the Rise: April, May and June are usually good months for the insurance industry, and 2005 has been no exception. While AIG led the U.S. contingent with a second quarter net figure of $3.99...

Aug 22 2005 // Second Quarter Profit Figures on the Rise: April, May and June are usually good months for the insurance industry, and 2005 has been no exception. While AIG led the U.S. contingent with a second quarter net figure of $3.99...

Best Upgrades ACE’s U.S. Subsidiaries

Aug 16 2005 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to A+ (Superior) from A (Excellent) and assigned issuer credit ratings (ICR) of “aa-” to ACE Westchester Specialty Group (ACE Westchester) (lead...

RMS to Open Bermuda Office

Aug 12 2005 // Calif.-based Risk Management Solutions will open an office in Hamilton, Bermuda. RMS made the announcement at a market seminar on the island that focused on recent technical developments in catastrophe modeling relevant to...

Platinum Underwriters Announces Management Changes, Dividend

Jul 29 2005 // Bermuda-based Platinum Underwriters Holdings Ltd. announced it has appointed Michael D. Price to serve as its chief operating officer, subject to the approval of the Bermuda Department of Immigration. In this capacity,...

Oil Casualty Insurance in Bermuda Names Hutchings Senior VP, COO

Jul 20 2005 // George F. Hutchings has joined the OIL Group of Companies in Bermuda as senior vice president and chief operating officer of Oil Casualty Insurance Ltd. His professional career has taken him from corporate finance to...

RIMS Sets Nov. Bermuda Symposium

Jul 19 2005 // The Risk and Insurance Management Society Inc. (RIMS) will hold a three-day Bermuda Market Symposium, Nov. 16-18, 2005, near Hamilton, in Bermuda. Located at the offices of XL Capital Ltd and ACE Ltd., this event presents...

ACE Appoints Bonneau Global Re Exec; Furby as Europe Head

Jul 7 2005 // Bermuda-based ACE Limited has announced that Jacques Bonneau, CEO of ACE Tempest Re USA, has been appointed president & CEO of the ACE Tempest Re Group. He will be based in Bermuda and report to Ace President and CEO...

International Newsbriefs

Jul 4 2005 // EU Leaders Fiddle While Europe Burns: The crisis in the European Union, provoked when French and Dutch voters rejected the EU Constitution, is being largely ignored by Europe’s leaders. Instead of a bit of...

ACE Tempest Re Appoints Swayne as Chief Underwriting Officer-International

Jun 16 2005 // ACE Tempest Reinsurance Ltd., the ACE Group’s Bermuda-based property and specialty catastrophe reinsurer, has announced the appointment of Guy Swayne to the position of Chief Underwriting Officer,-International. He...

The British Are Coming! No – They’re Already Here

Jun 6 2005 // Over 200 years ago Paul Revere rallied the Minutemen with the cry: “The British are coming!” He’d be somewhat surprised to learn of today’s more benign invasion by a number of British insurance...

Best Affirms All Catlin Ratings; Downgrades Syndicate 2003 ICR

Jun 3 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and issuer credit rating (ICR) of “a” of the bermuda-based Catlin Insurance Company Limited (CICL) and...

Best Affirms Ratings Platinum and Subs; Removes from “Under Review”

May 30 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and issuer credit ratings (ICR) of “a” of the reinsurance subsidiaries of Bermuda-based Platinum...

S&P Raises Ratings on 7 Insurance Holding Companies

May 30 2005 // Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and debt ratings on seven unregulated insurance and reinsurance holding companies. S&P also raised its...