Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Talks On-Going on New Bermuda Reinsurance Company
Oct 6 2003 // MBIA Inc., RenaissanceRe Holdings Ltd., Koch Financial Corporation and PartnerRe Ltd. announced that they are in discussions regarding the formation of a new Bermuda-based financial guaranty reinsurance company. The...
ACE Bermuda Promotes Chris Fisher to Senior VP
Oct 2 2003 // ACE Bermuda Insurance Ltd. announced the promotion of Chris Fisher to the position of senior vice president in its property department. He takes on responsibility for the management of ACE Bermuda’s global property...
XL Announces Three Executive Appointments
Sep 30 2003 // Bermuda’s XL Capital has announced three appointments in its insurance operations. Don Baker, Hans Gmuender and Dennis Nishikawa have been named to new executive broker and client relations positions. “The new...
ACE Announces Top Executive Appointments for Global Units
Sep 26 2003 // ACE Limited President and COO Evan Greenberg announced that, effective January 1, 2004, Mark Herman has been appointed as President, ACE Global Professional Lines and Andrew Kendrick has been appointed as President and CEO...
S&P Places Centre Solutions, Bermuda, Ratings on Watch Negative
Sep 17 2003 // Standard & Poor’s has placed its ratings on Centre Solutions (Bermuda) Ltd. and related operating companies (collectively referred to as Centre) on CreditWatch with negative implications because of concerns that...
PartnerRe Weathers Hurricane Fabian
Sep 15 2003 // Bermuda-based PartnerRe Ltd. has issued a bulletin giving details on the impact of Hurricane Fabian, a Category 3 storm which hit the island on Friday, Sept. 5, 2003, with winds in excess of 140 mph (225 kmh), causing an...
Bermuda Assures the World It’s Open for Business
Sep 12 2003 // Authorities in Bermuda have issued a bulletin assuring the rest of the world that the island’s insurance and financial enterprises remain open for business, despite extensive damages caused by the passage of...
RMS Reconnaissance Team Preparing to Assess Damage in Bermuda
Sep 9 2003 // California-based Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, was preparing to send a reconnaissance team to Bermuda to assess the damage caused by Hurricane...
Four Missing as Fabian Slams Bermuda-Strongest Hurricane in 50 Years
Sep 8 2003 // Hurricane Fabian, a monster of a storm, packing winds of 120 mph (192 kph), slammed full force into Bermuda on Friday night, uprooting trees, downing power lines and causing extensive structural damage. Four people were...
Alternative Markets Reach New Levels
Sep 8 2003 // “Client, insure thyself!” Well it hasn’t quite reached that point yet, but the hard market has caused insurance buyers to commence an unprecedented search for affordable risk management solutions. Pushed...
Bermuda Braces for Hurricane Fabian
Sep 5 2003 // The latest advisory bulletin from Miami’s National Hurricane Center warns “powerful hurricane Fabian [is] taking aim at Bermuda,” and a “hurricane warning remains in effect” for the...
Recent Ratings Round-up
Sep 5 2003 // Due to the significant number of ratings announcements released recently, the IJ offers the following summary of actions taken by the rating agencies indicated. More complete information can be obtained directly from the...
Alternative Re Names Gavin Collery President and COO
Aug 29 2003 // Alternative Re Limited, a subsidiary of Arch Capital Group Ltd., announced that as of September 1 Gavin P. Collery will join the company as President and Chief Operating Officer, based in the company’s Bermuda...
Trenwick Files for Chapter 11 Bankruptcy as Part of Restructuring
Aug 21 2003 // Bermuda-based Trenwick Group Ltd. announced that it has filed for protection under chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court of Delaware. The filing also includes its...
Endurance Excess Casualty Hires Shannon Totten, Cotina Forth-Albuoy
Aug 12 2003 // Bermuda-based Endurance Specialty Holdings Ltd. announced that its Bermuda subsidiary, Endurance Specialty Insurance Ltd., has hired two key leaders in excess casualty: Shannon Totten and Cotina Forth-Albuoy. The...
Ace Ltd. Forms New Risk Mgt. International Business Unit
Aug 6 2003 // ACE Limited announced the creation of a new business unit, ACE Risk Management International, in a move to address the developing risk-financing needs of major corporations. Roger Gillett will assume the title of president...
ACE Limited Announces Executive Appointments
Jul 18 2003 // Bermuda-based ACE Limited announced that Jaime Paredes will join the ACE Group of Companies next month as chairman and CEO of ACE Latin America. Klaus Gebhardt, currently executive vice president, Global Property at ACE...
AXIS Announces New Bermuda-based Financial Lines Capability
Jul 8 2003 // AXIS Capital Holdings Limited announced today that as of July 7, it will provide Directors & Officers Liability Insurance and other financial lines coverages through its Bermuda-based subsidiary, AXIS Specialty...
Montpelier Re in $450 Financing Deal with Fleet; To List Shares on Bermuda Exchange
Jul 3 2003 // Bermuda-based Montpelier Reinsurance Ltd. has concluded an arrangement with The Capital Markets division of Fleet Securities, which will provide it with a $450 million secured committed revolving letter of credit facility....
White Mountains Files $2 Billion Shelf Registration Statement
Jun 30 2003 // The Bermuda-based White Mountains Insurance Group, Ltd. announced that it has filed an unallocated universal shelf registration statement with the Securities and Exchange Commission to issue up to $2 billion of equity and...
