Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Aspen Rejects Endurance’s $3.2B Hostile Acquisition Bid As ‘Ill-Conceived’
Apr 14 2014 // Bermuda-based Endurance Specialty Holdings Ltd. today offered to buy Aspen Insurance Holdings Limited, also based in Bermuda, for $3.2 billion, or $47.50 per Aspen share, in a hostile takeover. The combined company would...
Catalina Completes Alea Group Holdings (Bermuda) Acquisition
Mar 31 2014 // Catalina Holdings (Bermuda) Ltd. Has announced that following receipt of regulatory approvals from the Bermuda Monetary Authority and the New York Department of Financial Services it has today completed its acquisition of...
Watford Re Readies for Business; Best Assigns Ratings, Stable Outlook
Mar 27 2014 // Bermuda-based Watford Holdings Ltd. and its wholly-owned subsidiary Watford Re Ltd. (collectively, “Watford” or the “Company”), a newly-formed Bermuda-based multi-line reinsurer, announced have...
Best Affirms Markel and Affiliates Ratings; Outlooks Stable
Mar 25 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of the members of the Markel North America Insurance Group, as well as the FSR...
JLT Towers Re Launches Expanded Bermuda Operation
Mar 19 2014 // JLT Towers Re has announced the launch of its newly combined operations in Bermuda. “JLT Towers Re Bermuda has been created through the merger of the businesses formerly known as JLT Re, Bermuda and Towers Watson Re,...
Allied World Bermuda Upgrades Public Company D&O Coverage
Mar 13 2014 // Allied World Bermuda has upgraded its Executive ForceField policy to provide enhanced coverage for the protection of directors and officers of public companies. This upgraded Side ‘A’ directors & officers...
Guy Carpenter Promotes Reina to CEO Continental Europe, MENA
Mar 5 2014 // Guy Carpenter has announced that Massimo Reina has been promoted to the position of CEO of Continental Europe and MENA [Middle East/North Africa], with immediate effect. He succeeds Peter Stubbings, who has taken up the...
Argo Re Forms Partnership with Horseshoe Group for ILS Market
Mar 4 2014 // The Bermuda-based Argo Group International Holdings announced that its Bermuda-based reinsurance company, Argo Re, Ltd., has entered into an agreement with Horseshoe Re Limited that will expand its reinsurance product...
Best Affirms Validus Re Swiss, Bermuda & Holdings Ratings; Outlook Stable
Feb 25 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Validus Reinsurance, Ltd., (Validus Re – Bermuda) and Validus Reinsurance...
Ratings Recap: Third Point Re, Sava Re, NEWGT
Feb 7 2014 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Third Point Reinsurance Company Ltd. (TPRCL). The outlook for...
Weill, Former Citigroup Chief, Named Chairman of Cohen’s Former Reinsurer
Jan 9 2014 // Sanford “Sandy” Weill, the former head of Citigroup Inc., was named chairman of the board at Hamilton Insurance Group Ltd., which runs the reinsurer that hedge fund manager Steven A. Cohen exited. “Sandy...
Best Downgrades Tower Group and Subs Ratings; Under Review/Negative
Dec 23 2013 // Last Friday, A.M. Best Co. downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower U.S. Pool. A.M. Best said the downgrade and other related actions take...
ABIR Applauds US-Bermuda Agreement to Share Tax Information
Dec 20 2013 // Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR), has praised an intergovernmental agreement signed by US Consul General Robert Settje and Bermuda Minister of...
Catalina Completes Shareholder Restructuring; $200 Million New Equity
Dec 20 2013 // Catalina Holdings (Bermuda) Ltd, the long term consolidator in the non-life run-off sector, announced that, “following regulatory approvals received in Bermuda, Switzerland, Ireland, the US and the UK, funds and...
ABIR Comments on ComFrame Supervision, Int’l. Insurance Capital Standards
Dec 16 2013 // In comments filed with the International Association of Insurance Supervisors (IAIS), the Association of Bermuda Insurers and Reinsurers (ABIR) offered its support for the development of insurance capital standards (ICS)...
Ratings Recap: SAC Re, ZEP-RE, IRB-Brasil, Malaysian Re, Bahrain National
Dec 12 2013 // A.M. Best Co. has commented that the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based S.A.C. Re, Ltd. are unchanged and the ratings remain under review...
Best Europe Affirms Hiscox and Subs Ratings
Dec 5 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Hiscox Insurance Company (Bermuda)...
Argo Group Makes International Management Appointments
Dec 4 2013 // The Bermuda-based Argo Group International Holdings, Ltd. announced the appointment of Glenn Burles as senior executive officer of Argo Re (DIFC) and the promotion of Kevin Williams to head of claims for Argo Group’s...
Aon Risk Solutions and XL Bermuda Develop New Health Care Product
Nov 5 2013 // Aon Risk Solutions, the global risk management business of Aon plc, and XL Group’s Bermuda Insurance Operations, XL Insurance (Bermuda) Ltd. (XLIB), announced a “new stand-alone integrated occurrence product...
ACE Bermuda Launches New CODA Premier D&O Policy
Oct 30 2013 // ACE Bermuda has launched a new CODA Premier directors and officers liability policy. The CODA Premier policy offers personal asset protection to directors and officers and is available through ACE’s commercial...
