Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Best Affirms Catlin Group and Subs ‘A’ Ratings; Outlook Stable
Sep 14 2012 // 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 the Bermuda-based Catlin Insurance Company...
Q&A with Florida’s Citizens CEO Gilway: Leading in the Public Sector
Sep 13 2012 // Two months ago when Barry Gilway took over as president of Florida’s state-run property insurer, Citizens Property Insurance Corp., he quickly learned there would be no honeymoon period. He was thrust into debates...
Tropical Storm Leslie Brushes Bermuda, Heads Northeast to Newfoundland
Sep 10 2012 // The core of Tropical Storm Leslie passed 120 miles (200 km) east of Bermuda, bringing sustained winds of 39 mph (and gusts of up to 54 mph) and heavy rains to the island on Sunday, Sept 9. Leslie is currently accelerating...
Hurricane Leslie Moving Slowly Towards Bermuda; Michael is 1st Cat 3 Storm
Sep 6 2012 // Leslie has become a category one hurricane on the Saffir-Simpson scale with maximum sustained winds of 75 mph, 120 km/h. A gradual strengthening is forecast over the next 48 hours. The latest bulletin, posted at 5:00 a.m....
Best’s Global Reinsurance Market Review Analyzes Top 50, Capital, Ratings
Sep 5 2012 // A.M. Best has published a review of the international reinsurance market, which analyzes the performance of the largest reinsurers (rated by gross premiums written). Although the figures – based on 2011 – do not...
Hurricane Kirk in Mid-Atlantic; TS Leslie May Hit Bermuda: NHC Reports
Aug 31 2012 // Two tropical cyclones – Hurricane Kirk and Tropical Storm Leslie – are currently active in the middle of the Atlantic Ocean. The National Hurricane Center in Miami is tracking both of them, as well as the remnants of...
Montpelier Re Names Downey Global Casualty, Specialty Treaty Head
Aug 29 2012 // Montpelier Reinsurance Ltd., the Bermuda-based subsidiary of Montpelier Re Holdings Ltd., announced that it has named Christopher Downey as Head of Global Casualty and Specialty Treaty Reinsurance, effective...
Orlich Joins American Safety Reinsurance Bermuda
Aug 27 2012 // Michael Orlich has joined Bermuda-based American Safety Reinsurance Ltd. (ASRe) as a Casualty Underwriter to assist in the expansion of the reinsurer’s casualty portfolio. He has over 15 years of experience in the...
XL Group Names Fisher to Lead Canadian Reinsurance Operations
Aug 27 2012 // XL Group plc’s reinsurance operations in Bermuda announced the appointment of Tim Fisher as Senior Vice President & Canadian Branch Manager. He reports to Managing Director & Head of Casualty Reinsurance in...
Montpelier Re Names Lucking Head of Individual Risk Property
Aug 17 2012 // Bermuda-based Montpelier Reinsurance Ltd. a subsidiary of Montpelier Re Holdings Ltd., announced the appointment of Nicholas Lucking as Head of Individual Risk Property, effective immediately. He is responsible for...
Florida Licenses Validus Reinsurance
Aug 16 2012 // Validus Reinsurance Ltd. has become the latest reinsurer licensed to do business in Florida under the state’s reduced capital law. Under a 2009 law that was designed to attract more private capital to the state,...
Hiscox Bermuda Appoints Palmer to Head Analytics and Research
Aug 14 2012 // Hiscox Bermuda has appointed Dr. Michael Palmer as Head of Analytics and Research for the group’s Bermuda operation. He will report to Damien Smith, Hiscox Bermuda’s Underwriting Director, and “will take...
Montpelier Re Announces Appointments in Property Treaty Operation
Aug 10 2012 // Montpelier Reinsurance Ltd., the Bermuda subsidiary of Montpelier Re Holdings Ltd., has announced several appointments in its Bermuda property treaty operation. Effective immediately, Paul Hopwood, formerly Head of US...
Best Sees No Change In Tower Group Ratings from Canopius Merger
Aug 6 2012 // A.M. Best Co. has commented that the issuer credit rating (ICR) and debt ratings of Tower Group, Inc. (TWGP), as well as the financial strength rating and ICRs of its insurance subsidiaries are unchanged. Best made the...
S.A.C. Re Begins Operations in Bermuda; $500 Million in Capital
Jul 10 2012 // S.A.C. Re, Ltd. announced that it has commenced operations with $500 million of contributed capital, raised in a private placement of the equity securities of its parent, S.A.C. Re Holdings, Ltd. S.A.C. Re Holdings’...
Endurance Promotes Bigley to Senior VP, Head of U.S. Property Cat Reinsurance
Jul 10 2012 // Bermuda-based Endurance Specialty Holdings Ltd has promoted David Bigley to senior vice president and head of U.S. Property Catastrophe Reinsurance. Endurance also announced that Rene Lamer and Stefan Beine, both senior...
Montpelier Re Names Dr. Gero Michel Head of Risk Analytics
Jul 9 2012 // Montpelier Reinsurance Ltd., the Bermuda reinsurance subsidiary of Montpelier Re Holdings, announced the appointment of Dr. Gero Michel as Head of Risk Analytics, a new position at the Company, effective July 1, 2012. He...
CNA Completes Acquisition of Hardy Underwriting Bermuda Ltd.
Jul 3 2012 // Chicago-based CNA Financial Corporation and Hardy Underwriting Bermuda Limited announced the successful completion of CNA’s acquisition of Hardy, which was approved by Hardy shareholders in April 2012. The bulletin...
Fitch Says Bermuda (Re)Insurers Should Weather Sovereign Downgrade
Jun 29 2012 // According to Fitch Ratings, “while insurance industry concerns factored into Tuesday’s downgrade of Bermuda,” it does not expect Bermuda (re)insurers to be affected, “as all our ratings of Bermuda...
Best Revises Alterra Capital and Operating Subs Outlook to Stable
Jun 21 2012 // A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Alterra Bermuda Limited...
