Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Ratings Roundup: Validus Re, IPC Re, Meritz
Dec 19 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Validus Reinsurance, Ltd. Best also affirmed the ICR of...
Ratings Recap: Eureko, Steamship, QBE (Notes), SOLID
Dec 2 2008 // Standard & Poor’s Ratings Services has revised its outlook on Netherlands-based Eureko B.V. and related core subsidiaries to negative from stable. S&P also affirmed the ‘A-‘ long-term...
Best Affirms White Mountains and Subsidiaries Ratings
Dec 1 2008 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of selected subsidiaries of the Bermuda-based White Mountains Insurance Group, Ltd., including the FSRs of ‘A’...
Best, Fitch Put Exporters’ Ratings under Review/Negative
Nov 17 2008 // Both A.M. Best and Fitch Ratings have reacted negatively to the news that the Exporters Group has entered into an agreement to transfer renewal rights to Australia’s QBE Holdings. Best put its financial strength...
S&P Assesses Current Conditions for Bermuda Insurers, Reinsurers
Nov 14 2008 // Standard & Poor’s Ratings Services has just published a new study – “Bermuda Insurers And Reinsurers: The Good, The Bad, And The Ugly – ” which examines the current status of the...
Catlin Group’s Interim Management Statement Shows Top Line Gains
Nov 14 2008 // The Bermuda-based Catlin Group Limited has just released its “Interim management Statement,” which shows premium gains in most sectors, but did not give fianncial results. Catlin operates extensively in the...
Hiscox Sees Strong 2009 Despite Premium Income Drop
Nov 10 2008 // The Bermuda-based, but UK-listed, insurer Hiscox expects strong growth in 2009, thanks to rising premiums in some of its core markets and increased business due to credit and capital problems at some competitors, it said...
Global Crisis Dominates A.M. Best’s London Conference
Nov 2 2008 // Execs Say Market Remains Attractive Even as Crisis Puts Pressure on Prices The by now all too familiar litany of the world’s financial woes took pride of place at A.M. Best’s conference in London on Oct. 15....
Best Comments on Resignation of Ironshore’s Rock
Oct 31 2008 // A.M. Best Co. has commented that the ratings and outlook of Cayman Islands-based Ironshore Inc. and its operating subsidiaries are unchanged following the resignation of the company’s chief underwriting officer...
Ironshore’s President, Chief Underwriter Resigns
Oct 30 2008 // Les Rock, president and chief underwriting officer of Ironshore Insurance Ltd., has resigned effective Oct. 31, 2008 for personal reasons. Howard Barnes, Peter Coleman and Rod Todd will continue to underwrite property...
Global Crisis Dominates A.M. Best’s London Conference
Oct 20 2008 // The by now all too familiar litany of the world’s financial woes took pride of place at A.M. Best’s well-attended conference (over 240 attendees) in London on October 15. Roger Sellek, the rating agency’s...
Bermuda Lauds IMF’s Positive Assessment of Regulations
Oct 20 2008 // The Bermuda Monetary Authority (BMA) issued a bulletin welcoming the recently released report by the International Monetary Fund (IMF), which gave the island high marks for its regulatory system. The bulletin noted that...
New York, Bermuda Sign Regulatory Working Pact
Oct 20 2008 // Insurance regulators in New York and Bermuda have agreed to closer cooperation in overseeing insurance matters. New York State Insurance Superintendent Eric Dinallo and Matthew Elderfield, chief executive officer of the...
Aon: Bermuda Markets Introduce Single Excess Follow Form
Oct 13 2008 // Aon Corp. announced that key general liability insurance markets in Bermuda have for the first time agreed to accept a single excess follow form from Aon. The form will provide Aon’s clients “with greater...
ACE Bermuda Increases Capacity for Core Excess Liability Product
Oct 10 2008 // ACE Bermuda Insurance Ltd. has announced an increase in its Integrated Occurrence capacity from $100 million to $150 million effective immediately. This additional capacity is available under ACE Bermuda’s core...
Best Upgrades/Affirms Arch Re, Arch Europe Ratings
Oct 9 2008 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Bermuda-based Arch Reinsurance Ltd. and...
To Tax or Not to Tax – Battling Coalitions Dispute Bermuda ‘Loophole’
Oct 6 2008 // Claims Managers ‘Don’t Like Ike’ as Losses from the Hurricane Pile Up on Top of Gustav’s Whatever goes around comes around, and in an election year it was almost inevitable that somebody would...
Ratings Recap: Flagstone Re, Lehman Re, Lonpac, Allianz Suisse, Sunderland Marine, Ansvar
Oct 3 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Flagstone Reassurance Suisse SA, as well as the ICR of “bbb-”...
New York Signs Regulatory Pact with Bermuda
Sep 30 2008 // Insurance regulators in New York and Bermuda have signed an agreement that calls for closer cooperation between the two agencies in overseeing insurance matters. New York State Insurance Superintendent Eric Dinallo and...
Bermuda’s Argo Buys lllinois-Based Professional Liability Manager Insight
Sep 30 2008 // Bermuda’s Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products in the property and casualty market, has acquired privately held Insight Insurance...
