Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Dearth Amidst Plenty – Reinsurers Send Mixed Signals
Jun 23 2003 // Is the glass half-full, or half-empty? The classic example of identical facts dictating opposite conclusions, depending on whether you’re an optimist or a pessimist, defines the current picture in the reinsurance...
Arch Bermuda Introduces New Excess Liability Capacity
Jun 17 2003 // Arch Insurance (Bermuda), a division of Arch Reinsurance Ltd., announced that, effective June 30, 2003, they will expand their excess liability capacity from $40 million to $50 million. “This additional capacity will...
Dearth Amidst Plenty – Reinsurers Send Mixed Signals
Jun 9 2003 // Is the glass half-full, or half-empty? The classic example of identical facts dictating opposite conclusions, depending on whether you’re an optimist or a pessimist, defines the current picture in the reinsurance...
A.M. Best Affirms PXRE’s ‘A’ (Excellent) Ratings
May 22 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of ‘A’ (Excellent) for the Bermuda-based PXRE Group Ltd.’s reinsurance subsidiaries, but has maintained its...
Platinum Reports $30.6 Million Net Q1 Earnings; Gregory Morrison to Replace Jerome Fadden as CEO
May 14 2003 // Platinum Underwriters Holdings, Ltd.’s first full quarter of independent operation since its initial public offering last October got off to a good start. The company reported net income of $30.6 million, or $0.71...
XL Announces Global Reinsurance Management Changes
May 13 2003 // Bermuda’s XL Capital Ltd announced that Mr. John Hume will relinquish his role as Chief Financial & Administrative Officer of XL Re Ltd. “to focus entirely on his responsibilities as Chief Financial...
ACE Financial Solutions International Makes Appointments
Apr 21 2003 // Bermuda-based ACE Financial Solutions International, Ltd. announced the promotion of both Mark Lima and Simon Burton to the position of executive vice president. Both Lima and Burton will continue to report directly to...
XL EVP Fiona E. Luck Named APIW 2003 Insurance Woman of the Year
Apr 4 2003 // XL Capital Ltd. announced that Fiona E. Luck, Executive VP of XL’s Group Operations and Assistant Secretary, has been named 2003 Insurance Woman of the Year by the Association of Professional Insurance Women (APIW)....
Arch Insurance (Bermuda) Increases General Property Capacity
Apr 4 2003 // Arch Insurance (Bermuda), a division of Arch Reinsurance Ltd., announced that it has increased its general property net and treaty capacity from $25 million to $50 million. In addition the company indicated that it now has...
ACE INA’s Dominic Frederico to Receive 2003 Franklin Award From Philadelphia CPCU Society
Mar 12 2003 // The Philadelphia-based members of ACE INA, a part of the ACE Group of Companies, announced that Dominic J. Frederico, chairman of ACE INA Holdings Inc., will be the twenty-first recipient to receive the prestigious...
Endurance Specialty Holdings Names Bell Pres. of Bermuda Subsidiary
Mar 6 2003 // Endurance Specialty Holdings named Thomas Bell as president of its Bermuda operating subsidiary, Endurance Specialty Insurance Ltd. (Endurance Specialty). Bell, who joined Endurance Specialty in December 2001 as executive...
Graham Pewter Appointed President and CEO of Catlin, Bermuda
Feb 27 2003 // Graham C. Pewter, former president and CEO of Commercial Risk Partners Limited, has been appointed as president and chief executive of Catlin Insurance Company Ltd. (CICL) in Bermuda. “In his new role at Catlin,...
Fitch Reaffirms ‘A’ Rating for Max Re
Feb 14 2003 // Bermuda-based Max Re Capital Ltd. announced that Fitch Ratings has reaffirmed the A (Strong) rating of its principal operating subsidiaries, Max Re Ltd. and Max Re Europe Limited. The Rating Outlook is Stable. The ratings...
Max Re Capital Names Bernard W. Anckner and Michael S. Morgan to Complete EGL Team
Feb 11 2003 // Bermuda’s Max Re Capital Ltd. announced that its subsidiary, Max Re Ltd., has named Bernard W. Anckner and Michael S. Morgan as Senior Vice Presidents-Underwriters, completing the core of its new Excess General...
SCOR Sets Agenda for “Back on Track” Plan; May Sell Bermuda Operation
Jan 23 2003 // Denis Kessler, who recently took over as the head of France’s SCOR Group, revealed additional measures to implement his “Back on track Plan” for the company at yesterday’s Board of Directors...
A.M. Best Affirms A+ (Superior) Rating of PartnerRe Group
Jan 23 2003 // A.M. Best Co. has affirmed the group financial strength rating of A+ (Superior) of Bermuda-based PartnerRe Group and its core subsidiaries, Partner Reinsurance Company Ltd. (Bermuda), Partner Reinsurance Company of the...
ACE INA to Support Philadelphia Dance Company
Jan 13 2003 // The Philadelphia Dance Company (PHILADANCO) announced that it has received financial support from the ACE Group of insurance and reinsurance companies through the ACE INA Foundation, which is based in the city. The...
Bermuda Insurers Join Inreon Reinsurance Trading Platform
Dec 20 2002 // Inreon, the Internet trading platform for reinsurers and intermediaries founded by Munich Re and Swiss Re, announced that a “growing number of global reinsurance groups, including new Bermuda start-ups, have...
Allied World Assurance Holdings Opens Irish Subsidiary in Dublin
Oct 29 2002 // Bermuda-based Allied World Assurance Holdings, Ltd. announced that the company has been granted a license to operate in Ireland and has commenced business with the opening of a new office in Dublin. The bulletin explained...
Reinsurance Market Tries to Reel In Profits
Oct 28 2002 // A year ago the reinsurance industry faced the biggest loss event in its history – the attacks on the WTC and the Pentagon. Nevertheless, commentators were almost unanimous in predicting that the market would harden,...
