Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Endurance Names Belfatti as Chief Actuary
Jun 19 2012 // Bermuda-based Endurance Specialty Holdings Ltd. announced that Michael Belfatti will join the company as Chief Actuary with responsibility for overseeing Endurance’s global pricing and reserving activities. He will...
Arch Re Europe Announces Leadership Team Reorganization
Jun 13 2012 // Arch Reinsurance Europe Underwriting Limited announced that Maamoun Rajeh will be appointed as the company’s President and CEO as of July 1, 2012. He will succeed Helmut Söhler, who will assume the position of Vice...
Best Affirms ACE Limited, No. Am. P&C Affiliates ‘A+’ Ratings
Jun 13 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the North America property/casualty subsidiaries of ACE Limited, which...
Best Affirms TT Club Bermuda, TT Club UK Ratings
Jun 13 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit ratings of “a-” of Through Transport Mutual Insurance Association...
Tower Group Announces Strategic Investment in Lloyd’s Canopius
Apr 26 2012 // Tower Group announced that it has committed to invest $75 million (based on the current exchange rate) in Canopius Group, Ltd., a privately owned Lloyd’s insurance holding company domiciled in Guernsey, Channel...
Ratings Recap: Insurance Barbados, Talanx (Notes), Ability Re, Newport Bonding
Apr 23 2012 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Insurance Corporation of Barbados Limited (ICBL), both with stable outlooks. The...
Goldman Sachs Completes Acquisition of Ariel Re’s Bermuda Operations
Apr 11 2012 // The Goldman Sachs Group and Ariel Holdings Ltd announced that Ariel Holdings has completed the sale of Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations to Goldman Sachs, pursuant to the...
Ratings: United Overseas, Aspen (Pref. Shares), BF&M, Island Heritage
Apr 6 2012 // A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating of “a+” to Singapore-based United Overseas Insurance Limited (UOI); both ratings have a positive...
Ratings Recap: Solid, Jevco, Argus Group, Munich Re (bonds)
Apr 2 2012 // A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating to ‘B++’ (Good) from B+ (Good) and the issuer credit rating to “bbb” from “bbb-” for...
Best, S&P React to Ariel Re Sale of Bermuda, Zurich Units
Mar 5 2012 // Both A.M. Best and Standard & Poor’s issued bulletins following the announcement that Ariel Re was selling off its Bermuda-based reinsurance business to Arrow, a unit of investment Bank Goldman Sachs, and its...
Goldman Sachs Acquiring Ariel Re Bermuda Operations
Mar 2 2012 // Goldman Sachs Group said it is acquiring Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations, which it will combine with its existing business underwritten through Lloyd’s Syndicate 1910. The...
Fitch: Bermuda Insurance Market Resilient as Pricing Firms
Jan 20 2012 // Following near-record global catastrophe losses in 2011, Bermuda-domiciled reinsurers are positioned to benefit from an improved underwriting and somewhat better pricing environment this year, according to analysts at...
Best Affirms Lloyd’s Syndicate 2001 Ratings; Amlin AG, Amlin plc; Outlook Stable
Dec 20 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Lloyd’s Syndicate 2001, which is...
Florida Regulators Allow Bermuda Reinsurer to Operate with Reduced Capital
Dec 15 2011 // Florida has added one more name to the growing list of offshore reinsurers who can do business in the state under a new law allowing them to reduce their capital and collateral requirements. The Florida Office of Insurance...
Torus Acquires Renewals of C.V. Starr for Continental Europe; Interview with Int’l. CEO O’Donohoe
Dec 5 2011 // Torus announced that it has entered into an agreement with Starr Underwriting Agents Limited whereby Torus Syndicate 2243 acquires the renewal rights to CV Starr Syndicate 1919’s Continental European Marine,...
AXIS Capital Hires North American Professional Lines Chief in N.J.
Dec 2 2011 // AXIS Capital Holdings’ insurance segment appointed John Van Decker as Berkeley Heights, N.J.-based executive vice president and head of North American professional lines. In this newly created position, Van Decker is...
Best Affirms Hiscox and Operating Companies ‘A’ Ratings; Outlook Stable
Nov 28 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Hiscox Insurance Company (Bermuda) Limited,...
Best Affirms Torus Insurance Holdings and Operating Subs Ratings
Nov 9 2011 // 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 Torus Insurance (Bermuda) Limited, Torus...
Insurance Groups Laud State Regulators’ Action to Reduce Reinsurance Collateral
Nov 8 2011 // State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to...
