Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
ACE Announces Executive Changes in Europe, Bermuda
Nov 16 2004 // Bermuda’s ACE Limited has announced several executive appointments, as follows: — Andrew Kendrick, currently president and CEO of ACE Bermuda, has been named chairman and CEO of ACE European Group. —...
Everest Re Appoints Jackson as U.K. General Manager
Nov 12 2004 // Bermuda-based Everest Reinsurance Ltd., a wholly owned subsidiary of Everest Re Group Ltd., announced the appointment of Tom Jackson as General Manager of its U.K.branch in London. “This operation writes treaty...
Sovereign Risk Completes $200 Million Capital Markets Transaction in Turkey
Oct 19 2004 // Sovereign Risk Insurance Ltd. has announced the issuance of an innovative political risk insurance policy assisting Finans Bank A.S., Turkey’s fifth-largest privately owned bank, to raise tier-two capital in the...
Everest Re Group Notes Everest Bermuda Changes
Oct 14 2004 // Everest Re Group Ltd. announced the following executive changes at its wholly owned subsidiary, Everest Reinsurance (Bermuda) Ltd. (“Everest Bermuda”). Mark de Saram, presently CEO of Everest Bermuda’s UK...
Endurance Estimates Hurricane Claims at $115 Million
Oct 5 2004 // Bermuda-based Endurance Specialty Holdings Ltd. reported that estimated aggregate potential claims from hurricanes Charley, Frances, Ivan, and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, is...
Aspen Announces Plans to Expand and Diversify; Best Comments
Oct 1 2004 // Aspen Insurance Holdings Limited announced from its Bermuda headquarters the next stages in the development of its corporate strategy as it expands its business in Bermuda and further diversifies its operations. “In...
Endurance Names Patschak New Head of Property Catastrophe Reinsurance Business
Sep 22 2004 // Bermuda-based Endurance Specialty Holdings Ltd. announced that Susan J. Patschak has joined Endurance Specialty Insurance, Ltd. as the head of its Property Catastrophe Reinsurance business unit. She joins Endurance with...
Max Re Establishes Property Underwriting Capability
Sep 16 2004 // Bermuda-based Max Re Capital Ltd. announced that its subsidiary, Max Re Ltd., has increased its product offerings by the formation of a dedicated property division. The department will provide insurance and reinsurance...
Best Reports on Bermuda Insurers
Sep 14 2004 // A.M. Best Co. has issued a report on Bermuda’s insurance and reinsurance industry, timed to coincide with the Reinsurance Rendezvous, currently being held in Monte Carlo. Best reported that in the “first six...
Fitch Affirms Imagine Insurance ‘A’ Ratings: Outlook Raised to Positive
Sep 13 2004 // Fitch Ratings announced that it has affirmed the “A” insurer financial strength rating of the Barbados/Bermuda-based Imagine Insurance Company Limited. The rating outlook has also been raised from stable to...
ACE Financial Solutions Names Swayne Exec. VP
Sep 1 2004 // ACE Financial Solutions International (ACE FSI), one of the ACE Group of Companies, announced the appointment of Guy Swayne to the new post of Executive Vice President. Swayne will be based in Bermuda and will be...
Best Assigns ‘A-‘ Rating to Aetna (Bermuda) Ltd.
Aug 30 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to Aetna Life and Casualty (Bermuda) Ltd. (AL&C) with a stable outlook. “The rating reflects...
Rego and Hnat Take New Positions at XL Capital
Jul 19 2004 // XL Capital Ltd., based in Hamilton, Bermuda, announced that Michael E. Rego and Frederick B. Hnat were appointed to new positions within its Financial Products and Services Operations. Rego was named executive vice...
Assurex Global Re Forms Cell for Risk Management Needs for Construction Clients
Jul 14 2004 // Assurex Global Reinsurance Ltd., a captive insurance company formed by Assurex Global Partners, LLC announced the formation of a specific cell to provide critically needed risk management and insurance needs to...
The New Insurers: This Time, They’ll Do It The Right Way
Jul 5 2004 // ‘Clean Slate’ U.S. P/C Insurers Learn from Sins of Their Predecessors In the summer of 2001, the hard cycle had already arrived for the U.S. property/casualty marketplace. Prices were trending up as experts...
Fitch Issues Cautious Note on New Bermuda Insurers
Jun 30 2004 // Fitch Ratings has issued a report on the new Bermuda Insurers (companies formed after Sept.11), which asks the rhetorical question that although they may “shine in the sun, can they handle rain? The report, The...
ACE Limited Appoints Ringsted Chief Actuary
Jun 4 2004 // Bermuda’s ACE Limited announced the appointment of Sean Ringsted as Chief Actuary for the ACE Group of Companies, effective immediately, subject to the approval from the Bermuda Department of Labour and...
ACE USA Appoints Cook as VP- ACE Captive Solutions
May 6 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the appointment of Lawrence Cook as Vice President, ACE Captive Solutions. “ACE Captive Solutions is a centralized unit that...
Fass to Head New White Mountains Reinsurance Group
Apr 20 2004 // Bermuda-based White Mountains Insurance Group, Ltd. announced the formation of White Mountains Re Group, Ltd., a Bermuda-based holding company, and the appointment of Steven Fass as its President and CEO. White Mountains...
Best Affirms Catlin, Syndicate 2003 ‘A’ Ratings
Apr 8 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Bermuda-based Catlin Insurance Company Ltd. (CICL) (Bermuda) and its Syndicate Rating of Lloyd’s Syndicate...
