Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Crisis in Medical Professional Liability Diminished, PLUS Panelists Say
May 23 2005 // States with meaningful tort reform are seeing stabilization in the medical professional liability arena from three years ago. Despite the decrease in claims frequency, however, severity persists and insurers must maintain...
Fla. Insurance Commission Subpoenas 17 Reinsurers
May 23 2005 // Investigative subpoenas have been issued by Florida Insurance Commissioner Kevin McCarty probing the dealings of 17 reinsurers selling finite risk policies. The companies on the receiving end of the subpoenas, including...
Crisis in Medical Professional Liability Diminished, PLUS Panelists Say
May 23 2005 // States with meaningful tort reform are seeing stabilization in the medical professional liability arena from three years ago. Despite the decrease in claims frequency, however, severity persists and insurers must maintain...
S&P Reports on 5 Bermuda Property Catastrophe Reinsurers
May 10 2005 // Standard & Poor’s Ratings Services has issued a report, entitled “Peer Comparison: Bermuda Property Catastrophe Reinsurers,” which examines the differences between five of the island’s...
Best Affirms Ratings of PXRE
Apr 29 2005 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings of “a” of the reinsurance subsidiaries of the PXRE Group Ltd. (PXRE) (Bermuda). PXRE’s reinsurance...
Fla. DOI Sets June 1 Hearing for Sirius Intl. Case
Apr 29 2005 // A June 1 hearing date has been set for a reinsurance unit of Bermuda-based White Mountains to meet with Florida regulators following allegations the unit was selling insurance in the state without a license. According to...
Best Comments on Rating for Island Heritage
Apr 27 2005 // A.M. Best Co. has commented that the financial strength rating of A- (Excellent) of Island Heritage Insurance Company Ltd. (Island Heritage) (Cayman Islands) remains unchanged following the recent announcement that ACE...
Best Affirms Rating of TT Club; Revises Outlook to Positive; Assigns ICR
Apr 19 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Bermuda-based Through Transport Mutual Insurance Association Ltd. (TT Bermuda) and its wholly owned subsidiary...
JLT Risk Solutions (Bermuda) Ltd. Licenses CATEX Pivot Point Service
Apr 14 2005 // The Catastrophe Risk Exchange International Inc. (CATEX), a provider of web-based trading and back-office services to the international insurance and reinsurance market, announced that JLT Risk Solutions (Bermuda) Ltd., a...
Bermuda Insurers Receive Subpoenas
Apr 11 2005 // Two of Bermuda’s leading reinsurance companies – RenaissanceRe Holdings Ltd. and PartnerRe Ltd. – have acknowledged that they have received subpoenas from both the U.S. Securities and Exchange Commission...
Insurance Accounting Probe Spreads; Munich Re Questioned; Bermuda Opens Investigation
Apr 7 2005 // The accounting investigation swirling around AIG has now spread out across the ocean to reach Bermuda and Germany, as authorities questioned Munich Re about its relations ships with AIG and Island regulatorsd launched...
AIG Halts Removal of Documents in Bermuda; CEO Sullivan Sends Letter to Shareholders
Apr 3 2005 // American International Group has reiterated its intention to cooperate with all investigations and acknowledged it had to stop efforts to remove documents from its Bermuda building, in a letter to shareholders. “AIG...
Best Places Platinum’s Ratings Under Review, Downgrades Credit, Debt Ratings; Company Comments
Apr 1 2005 // A.M. Best Co. announced that it has placed the financial strength rating of “A” (Excellent) of the reinsurance subsidiaries of Bermuda-based Platinum Underwriters Holdings, Ltd. under review with negative...
Carvill Report Indicates “Bermuda High” is Crucial Hurricane Factor
Mar 29 2005 // The ReAdvisory group of Carvill, a leading specialty reinsurance intermediary, has released a white paper, which concludes that the location of the “Bermuda High” pressure system is crucial in determining...
S&P Affirms Mutual Steamship (Bermuda) ‘A’ Rating
Feb 2 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “A” long-term counterparty credit and insurer financial strength ratings on Bermuda-based insurer The United Kingdom Mutual Steam...
Best Assigns Rating for Lloyd’s Syndicate 1225
Jan 27 2005 // A.M. Best Co. has assigned a Best’s Syndicate Rating of A (Excellent) and an issuer credit rating (ICR) of “a” to Lloyd’s Syndicate 1225 (United Kingdom), which is managed by AEGIS Managing Agency...
Best Affirms Rating for The Steamship Mutual Underwriting Association; Outlook Stable
Jan 6 2005 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of The Steamship Mutual Underwriting Association Ltd (Steamship London) (London, England). The outlook has been changed to stable from negative, in...
Best Affirms Members of Quanta Capital Ratings
Dec 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Bermuda-based Quanta Reinsurance Ltd. (Quanta Re) and its three strategic pooled subsidiaries: Quanta...
Endurance Announces Management Changes
Dec 7 2004 // Bermuda-based Endurance Specialty Holdings Ltd. announced two key management changes. Effective immediately, Thomas D. Bell has been named Executive Vice President of Endurance Specialty Holdings Ltd., and David S. Cash...
S&P Affirms Steamship P&I Bermuda & Subs ‘A’ Ratings
Nov 29 2004 // In a separate bulletin Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit and insurer financial strength ratings on The Standard Steamship Owners’...
