Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Arch Names Ingrey Vice Chairman, Promotes Execs.
Apr 7 2004 // Bermuda-based Arch Capital Group Ltd. announced that Paul Ingrey, Chairman and CEO of reinsurance operations, has been appointed Vice Chairman of the Company through October 2007. “Mr. Ingrey came out of retirement...
ACE USA Names McGeehan Prof. Risk Sr. VP-Marketing
Mar 30 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the appointment of Vince McGeehan as Senior Vice President-Marketing for ACE USA Professional Risk. The division provides...
Best Downgrades Bermuda’s Centre Solutions Rating
Mar 15 2004 // A.M. Best Co. announced that it has downgraded the financial strength rating to “B+” (Very Good) from “A-” (Excellent) of Centre Solutions (Bermuda) Ltd. and its operating subsidiaries. Best also...
Jurgen Grupe, Henry Smith Named to AXIS Board
Mar 15 2004 // Bermuda-based AXIS Capital Holdings Limited announced that its Board of Directors has nominated Jurgen Grupe, former chairman of AON – Reinsurance Europe, and Henry Smith, former CEO of The Bank of Bermuda Limited,...
Best Assigns ‘A-‘ Rating to Steamship Mutual (London)
Feb 20 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to the London-based company of the Steamship Mutual Underwriting Association Limited, with a negative...
Best Assigns ‘A-‘ Rating to Quanta U.S. Operations
Jan 29 2004 // A.M. Best Co. announced that it has assigned initial financial strength ratings of “A-” (Excellent) to Quanta Specialty Lines Insurance Company of Indianapolis, Ind. and Quanta Indemnity Company of Denver,...
XL Announces Reinsurance Appointments; New CEO for Insurance Operations
Jan 23 2004 // Bermuda’s XL Capital, Ltd announced a series of senior management appointments yesterday affecting both XL Re Ltd, its reinsurance division, and the company’s insurance operations, following the retirment of...
XL Completes Audit; Expects $694 Million Pre-Tax Charge for 2003
Jan 14 2004 // Bermuda’s XL Capital Ltd. has completed its reserve review, begun last October, and confirmed that it will take some substantial charges, affecting both fourth quarter and annual results. It plans to raise at least...
Moody’s Issues Report on Bermuda
Jan 13 2004 // Moody’s Investors Service has issued its annual report on Bermuda, discussing the island’s Aa1 foreign currency country ceilings, Aaa domestic currency rating, and stable outlook, which the rating agency...
Moody’s Affirms Everest Re Group Ratings
Jan 8 2004 // Moody’s Investors Service announced that it has assigned prospective ratings to the $975 million universal shelf registration of Everest Re Group, Ltd. (Everest Re Group) — prospective senior unsecured debt at...
Best Comments on Bermuda Insurance/Reinsurance Market
Dec 16 2003 // A.M. Best has issued a report commenting on the Bermuda insurance and reinsurance market. It notes that the 15 largest companies based on the island generated $28.6 billion in net premiums written and underwriting income...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Best Upgrades Through Transport Mutual, Subsidiaries Ratings
Dec 12 2003 // A.M. Best Co. announced that it has upgraded the financial strength rating to B++ (Very Good) from B+ (Very Good) of Bermuda-based Through Transport Mutual Insurance Association Limited (TT Bermuda) and assigned a stable...
XL Announces 2004 Earnings Estimates
Dec 4 2003 // Brian M. O’Hara, President and CEO of Bermuda’s XL Capital Ltd., speaking at the Bermuda Angle Conference yesterday, announced that the company estimated 2004 earnings would be between $9.05 to $9.25 per...
The Reinsurance World 2003 – Capacity, Profitability and ‘The Cycle’
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
The Reinsurance World 2003 – Capacity, Profitability and ‘The Cycle’
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
S&P Affirms Hannover Re Bermuda ‘AA-‘ Ratings
Oct 30 2003 // Standard & Poor’s Ratings Services announced that it has affirmed the ‘AA-‘ counterparty credit and financial strength ratings on property/casualty insurer Hannover Re (Bermuda) Ltd. (HRB), with a...
Assurex Global Forms Captive Reinsurer
Oct 22 2003 // Assurex Global, the Columbus, Ohio-based risk management and commercial insurance brokerage group, announced the formation of Assurex Global Reinsurance, Ltd., a captive insurance company, located in Bermuda, which it has...
BSX Gives Nod to Secondary Listing of Common Shares of White Mountains Insurance Group Ltd.
Oct 9 2003 // The Listing Committee of the Bermuda Stock Exchange announced the approval of the listing of up to 12,246,680 Common Shares of White Mountains Insurance Group, Ltd. White Mountains was originally formed as a Delaware...
