Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Bermuda Monetary Authority Concludes Pact with Florida Insurance Regulator
Sep 25 2009 // The Bermuda Monetary Authority (BMA) has signed a Memorandum of Understanding (MOU) with the Florida Office of Insurance Regulation (FLOIR). The bulletin noted that it “is the latest in a number of such agreements...
Marsh Acquires Bermuda Captive Management Advisory Company
Sep 18 2009 // Marsh Inc. announced it has completed the acquisition of International Advisory Services Ltd. (IAS), the largest independent manager of captive and third-party insurance companies in Bermuda. Terms of the transaction were...
Kittleson, Hill Join Iron-Starr Excess Casualty Operation in Bermuda
Sep 10 2009 // Iron-Starr Excess Agency Limited, the joint venture between Ironshore Inc. and C. V. Starr & Co., Inc., report that Eric S. Kittleson and Mark Hill have joined the Excess Casualty operation domiciled in Bermuda....
Validus Completes IPC Acquisition
Sep 8 2009 // Bermuda-based Validus Holdings, Ltd. announced that it has completed its acquisition of IPC Holdings, Ltd., which Validus said, creates, “a leading carrier in the Bermuda short-tail reinsurance and insurance...
Ratings Recap: Dah Sing, Everest Re, Omnium, First Takaful, TATIL
Sep 4 2009 // A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Bermuda-based Dah Sing Insurance Company Limited (DSI) with stable outlooks. “The...
Ratings: Syndicate 2003 (Catlin), La Colonial, United, Arch, Ballantyne Re
Sep 2 2009 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Lloyd’s Syndicate 2003, which is managed by Catlin Underwriting Agency...
Hurricane Bill to Pass Between Bermuda, U.S. Coast Saturday
Aug 21 2009 // Hurricane Bill became less organized Friday as it pursued a path that would take it between Bermuda and the eastern United States, the U.S. National Hurricane Center said. Bill, a Category 3 storm on the Saffir-Simpson...
Hurricane Bill Continues on Course; Bermuda on Alert
Aug 21 2009 // Hurricane Bill continues to follow the trajectory forecast by the National Hurricane Center in Miami. The storm remains a Category 3 hurricane with maximum sustained winds of around 115 mph, 185 km/hr, with higher...
Bill Weakens to Category 3 Hurricane; Predicted Course Unchanged
Aug 20 2009 // Hurricane Bill has weakened somewhat from a category 4 storm to category 3 on the Saffir-Simpson scale. It nonetheless remains a dangerous storm with maximum sustained winds of around 125 mph, 205 km/hr, with higher...
Hurricane Bill Could Bring Dangerous Swells, Rip Currents to U.S. East Coast
Aug 20 2009 // Powerful Hurricane Bill, a dangerous Category 4 storm with 135 mph winds, raged across the open Atlantic Wednesday, days from land but on a path that could menace Canada’s eastern provinces next week. Sweeping past...
UPDATE: Hurricane Bill Moving West-Northwest towards Bermuda
Aug 18 2009 // The latest bulletin from the National Hurricane Center in Miami reports that Hurricane Bill continues to move “west-northwestward across the tropical Atlantic with little change in strength.” As of 5:00 a.m....
Hurricane Bill Expected to Strengthen to Category 3; Ana, Claudette Weaken
Aug 18 2009 // Hurricane Bill, the first hurricane of the 2009 Atlantic season, revved up quickly Monday as it headed toward Bermuda, while the remnants of Tropical Storm Ana dissipated without threatening the U.S. Gulf oil patch. Bill...
Hurricane Bill Heads for Bermuda
Aug 17 2009 // Hurricane Bill, the first hurricane of the 2009 Atlantic season, gained strength quickly as it churned across open ocean Monday in the direction of Bermuda, the U.S. National Hurricane Center said. Two other tropical...
Ratings Roundup: Central Re, Amedex, Arab Orient
Jul 27 2009 // A.M. Best Co. has revised the outlook to stable from positive and affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Taiwan’s Central...
Hiscox Bermuda Adds Two Healthcare Liability Underwriters
Jul 13 2009 // International specialist insurer Hiscox Ltd. announced the appointment of two healthcare underwriters to Hiscox Bermuda, subject to immigration approvals. Ian Thompson (Senior Vice President – Healthcare) and Nick...
ACE Bermuda Launches New Primary Warranty & Indemnity Solution
Jul 13 2009 // ACE Bermuda International announced the launch of a new primary Warranty and Indemnity (W&I) insurance policy, designed to provide protection against financial losses arising from breaches of warranties and/or...
Ratings Recap: Argus, Leadway, Scandinavia
Jul 8 2009 // A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘A’ (Excellent) and assigned issuer credit ratings (ICR) of “a-” to Argus Group Holdings Limited...
Ratings: Argo Re, Heddington, La Colonial, Trinidad & Tobago, Lancashire, Brit
Jun 25 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Argo Re Ltd. and its U.S. subsidiaries. Best also affirmed the ICR...
AIG vs. Greenberg Trial: Stock Flown to Bermuda to Avoid Seizure
Jun 18 2009 // The former head of ailing U.S. insurance giant AIG told a court Wednesday that he had a private jet fly a large block of the company’s stock to Bermuda from New York to prevent AIG from seizing it. “It was a...
Ratings: Everest Re (Ireland), Bosna Re, Peace Hills, Farmers (NZ), Swiss Re (debt), Optimum
Jun 18 2009 // Standard & Poor’s Ratings Services has assigned its ‘A+’ counterparty credit and financial strength ratings to Everest Reinsurance Co. (Ireland) Ltd. S&P also said the outlook on Everest Re...
