Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Ratings Roundup: Novae, PartnerRe S.A., Steamship Mutual
Mar 4 2008 // Standard & Poor’s Ratings Services has revised its outlook on U.K.-based Novae – Syndicate 2007 to positive from stable. S&P also affirmed its Lloyd’s Syndicate Assessment (LSA) of...
People
Feb 24 2008 // San Diego-based Barney & Barney LLC named Jim O’Connell principal. He also will serve as director of development for programs, specialty insurance solutions. In that role, he is responsible for both regional and...
RenRe Announces 3 New Board Members
Feb 22 2008 // Bermuda-based RenaissanceRe Holdings Ltd. announced that Edmund B. Greene, 69, Brian R. Hall, 65 and Scott E. Pardee, 71, three longtime members of its Board of Directors, will retire in conjunction with the...
Navigant Consulting Expands to Bermuda
Feb 20 2008 // Chicago-based Navigant Consulting, Inc. has established Navigant Consulting (Bermuda) Ltd. to extend its services to the island’s insurance and reinsurance market. “The Company will offer its full suite of...
Ratings Recap: BluePoint Re, Channel Re, RAM Re, Assured Guaranty, Steamship Mutual, Hannover Ltd., ARAG
Feb 19 2008 // Standard & Poor’s Ratings Services has placed its ‘AA’ rating on BluePoint Re Ltd., its ‘AAA’ rating on Channel Reinsurance Ltd., and its ‘AAA’ rating on RAM Reinsurance Co....
Best Affirms Hardy’s Lloyd’s Syndicate ‘A’ Ratings
Feb 14 2008 // A.M. Best Co. has affirmed its Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’ s Syndicate 382, which is managed by Hardy Underwriting Agencies Ltd....
S&P Finds Bermuda Insurers Face Rising Competition
Feb 11 2008 // Standard & Poor’s Ratings Services has published an article which states that Bermuda-domiciled insurance companies will face increasing competition from other regions of the world. The article –...
Cooney Named Managing Director-Aon Capital Markets
Feb 4 2008 // Aon Re Global has appointed Robert J. Cooney as Managing Director of Aon Capital Markets. He will report to Paul Schultz, President of Aon Capital Markets, and will also serve as Vice Chairman of Aon Re Global –...
Ratings Recap: Stoneheath Re, JRG Re
Jan 29 2008 // A.M. Best Co. has downgraded the debt rating to “bb+” from “bbb” on the $350 million non-cumulative perpetual preferred securities (issuer preferred securities) issued by Stoneheath Re (issuer), a...
XL Re Concludes Quota Share Agreement with Cyrus Re II
Jan 8 2008 // Bermuda’s XL Capital Ltd’s reinsurance operations, XL Re, announced that certain of XL’s operating companies, referred to as the “Ceding Companies,” have entered into a quota share reinsurance...
Validus Inks Quota Share Deal
Dec 28 2007 // Bermuda-based Validus Holdings, Ltd. announced that its wholly owned subsidiary Validus Reinsurance, Ltd. has entered into a collateralized quota share retrocessional reinsurance agreement with respect to certain lines of...
Argo Group Begins Reorganization; Best Raises Peleus Re Ratings
Dec 27 2007 // The Bermuda-based Argo Group International Holdings, Ltd. (which includes Argonaut Insurance) announced that its U.S. and Bermuda subsidiaries will be restructured to create a new organizational platform for...
Catlin Purchases $225 Million in Cat Bonds; Best’s Ratings
Dec 19 2007 // The Bermuda-based Catlin Group Limited announced that Catlin Insurance Company Ltd. of Bermuda has purchased coverage totaling $225 million under a catastrophe swap agreement in the event of severe US natural catastrophes...
Ratings Recap: Thai Re, Aspen, Valiant, Qatar Insurance
Dec 10 2007 // Standard & Poor’s Ratings Services has raised its long-term local currency counterparty credit and insurer financial strength ratings on Thai Reinsurance Public Co. Ltd. (Thai Re) to ‘A-‘ from...
Ratings Roundup: Everest Re, Bison, PMG, Liffey Re,
Dec 6 2007 // Standard & Poor’s Ratings Services has revised its outlook on Everest Re Group Ltd., its operating subsidiaries, Everest Reinsurance Co., Everest National Insurance Co., and Everest Reinsurance (Bermuda) Ltd.;...
Hardy Sets Sail for Bermuda; Redomiciliation Set for 2008
Dec 5 2007 // The Board of Hardy, a major specialist Lloyd’s insurer, announced that it proposes to move the Group’s corporate domicile to Bermuda “in order to improve the Group’s strategic positioning in the...
Bermuda Insurance Association Says Companies Create U.S. Jobs
Nov 30 2007 // According to the Association of Bermuda Insurers and Reinsurers (ABIR), International insurance and reinsurance companies based on the island employ over 9,000 Americans and indirectly generate an estimated 95,045 jobs in...
Ratings Recap: PhilNaRe, Atlas IV Cat Bond, HSBC (Bermuda), Cunningham Lindsey
Nov 29 2007 // A.M. Best Co. has assigned a financial strength rating of ‘B++’ (Good) and an issuer credit rating of “bbb” to National Reinsurance Corporation of the Philippines (PhilNaRe) with a stable outlook....
S&P Report on Bermuda’s Re/Insurers – Cautious, but Optimistic
Nov 14 2007 // Analysts from Standard & Poor’s Ratings Services have pit together an analytical report on Bermuda’s insurance and reinsurance industry, following what S&P sees as “another excellent...
Myron Named Treasurer at Hanover Insurance
Nov 13 2007 // The Hanover Insurance Group, Inc. announced that Robert P. Myron has been appointed director of corporate finance and treasurer. In this role, he will oversee the company’s corporate finance activities, including...
