Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Ratings Roundup: MMC (Marsh), American Safety, Stockbridge
Nov 12 2007 // Standard & Poor’s Ratings Services has placed its ‘BBB’/’A-2’ counterparty credit rating on Marsh & McLennan Cos. (MMC) on CreditWatch with negative implications. S&P said it...
Ratings Recap: IGI, R&SA, Gerling KA, Mapfre, Alliance PSC, Lonpac, United
Nov 2 2007 // Standard & Poor’s Ratings Services has assigned its ‘BBB’ long-term counterparty credit and insurer financial strength ratings to Bermuda-based insurer, International General Insurance Co. Ltd. (IGI)...
American Safety Expands Bermuda Alternative Risk Solutions
Oct 29 2007 // American Safety Insurance Holdings, Ltd. (ASI) announced from its Bermuda office that it has appointed Guy Cloutier to the position of Senior Vice President of Alternative Risk Solutions and Chief Actuary of American...
Ratings Recap: Everest Re, Groupama, First Net, Novae, Hiscox, Amlin, Eurasia, Amlin (Bermuda), HSBC Re
Oct 29 2007 // Standard & Poor’s Ratings Services commented on an announcement by the Bermuda-based Everest Re Group Ltd. (A-/Negative/–) and related subsidiaries (collectively referred to as Everest). Following its...
AXIS Capital Extends CEO Employment Agreement
Oct 24 2007 // Bermuda-based AXIS Capital Holdings Limited has extended the employment agreement of John Charman, CEO and president, to Dec. 31, 2009. AXIS Capital is a Bermuda-based global provider of specialty lines insurance and...
Max Capital Names Dicker to Dublin Agriculture Post
Oct 22 2007 // Max Bermuda, the operating company of the Max Capital Group, announced an expansion of its Dublin unit with the appointment of Michael W. Dicker as Senior Vice President – Agriculture at Max Re Europe Limited, Max...
Arch Insurance Names Pimentel to Succeed Ansaldi as President
Oct 19 2007 // Arch Insurance Bermuda announced that Terry L. Pimentel has been named President, effective January 1, 2008. He will succeed current President James J. Ansaldi, who is retiring after a “distinguished 28-year...
ACE Bermuda International New Global Business Name; Lloyd’s Box Opened
Oct 17 2007 // As of October first “ACE European Markets Insurance Limited and ACE European Markets Reinsurance Limited will trade under the business name of ACE Bermuda International (ABI),” said a bulletin on the ACE web...
The offshore reinsurance tax debate resurfaces in Congress again
Oct 8 2007 // An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee late last month that a major tax advantage for certain foreign insurance groups could threaten...
News Currents
Oct 8 2007 // The offshore reinsurance tax debate resurfaces in Congress again Domestic-owned insurers claim Bermuda-based companies hold an unfair tax advantage An industry executive, representing a coalition of 14 large U.S.-based...
The Offshore Tax Debate – Déjà vu – All over Again
Sep 28 2007 // At least that’s how Yogi Berra might describe it. On Sept. 25 William R. Berkley, chairman and CEO of the company of the same name, gave a detailed indictment before the Senate Finance Committee of the iniquities...
Insurers Urge Congress to Level Bermuda Insurers’ Tax Playing Field
Sep 26 2007 // An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee on Wednesday that a major tax advantage for certain foreign insurance groups could threaten...
U.S. excess and surplus lines market attracts international attention
Sep 24 2007 // The United States excess and surplus lines market presents opportunities that are not lost on the rest of the world. Lloyd’s is the second largest U.S. surplus lines writer with a 14 percent market share. Direct...
S&P: Bermuda Reinsurance Class Of 2001 Doing Well
Sep 12 2007 // Standard & Poor’s Ratings Services has published a commentary, titled, “Bermuda Class Of 2001: Five Years On,” which examines the present state of recent Bermuda reinsurance...
Watson Joins Flagstone Re Board
Sep 6 2007 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that Peter F. Watson has joined their Board of Directors. He is Vice Chairman, President and CEO of Attorneys’ Liability Assurance Society (Bermuda) Ltd....
Ratings Roundup: CRC (Bermuda) Re
Aug 27 2007 // A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of CRC (Bermuda) Reinsurance Limited (CRC), a...
S&P Publishes Bermuda FAQ Report
Aug 16 2007 // Standard & Poor’s Ratings Services has published a FAQ (frequently asked questions) about the Bermuda insurers’ financial strength. S&P credit analyst Thomas Upton noted that “following a year...
Rating Roundup: BF&M
Aug 13 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and assigned issuer credit ratings (ICR) of “a” to Bermuda-based BF&M Limited and its operating affiliates. The...
Max Cap Announces Refinancing
Aug 9 2007 // The Bermuda-based Max Capital Group Ltd. announced that on August 7, 2007, Max Capital and its Bermuda operating company, Max Bermuda Ltd. “entered into a credit agreement with Bank of America, N.A....
Argonaut, PXRE Complete Merger; Officers Named; Financial Statement
Aug 8 2007 // The newly-formed Argo Group International Holdings, Ltd. announced the completion of its merger between Argonaut Group, Inc. and a wholly owned subsidiary of PXRE Group, Ltd. concluding the deal made earlier this year (See...
