Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Bermuda’s Premier Responds to U.S. Tax Bill
Apr 17 2002 // The ongoing proposals by several lawmakers to make U.S. companies, notably insurers, who relocate to Bermuda subject to U.S. taxes, has drawn a terse response from Jennifer Smith, the island’s premier. “We...
Endurance Specialty CEO Sees Market Challenges
Apr 3 2002 // In a recent discussion of the state of the p/c insurance and reinsurance market Kenneth J. LeStrange, Chairman, CEO and President of Bermuda-based Endurance Specialty Insurance, Ltd. saw continuing challenges, but also...
A.M. Best Withdraws Indicative Financial Strength Rating of Danish Re Bermuda Ltd.
Mar 11 2002 // A.M. Best Co. has withdrawn the A- (Excellent) indicative financial strength rating of Danish Re Bermuda Ltd., following the delay in completing a USD 200 million private equity placement offer to increase its underwriting...
ACE, XL Reach Accord with Silverstein on WTC Claims
Feb 18 2002 // Settlement negotiations have been successfully concluded between Silverstein Properties, the master leaseholder on the destroyed World Trade Center, and ACE Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd, operating...
Tizzio to Replace Greenberg as Bermuda Forum Keynoter
Feb 18 2002 // The World Insurance Forum, which begins in Bermuda tomorrow, will hear a keynote address from American International Group’s Sr. Vice-Chairman Thomas R. Tizzio on Wednesday Feb. 20, rather than AIG’s legendary...
OPL To Go Into Runoff, RenRe Takes Over OPCat
Feb 14 2002 // In a move which took the insurance world by surprise, Bermuda-based Overseas Partners Ltd. announced its decision to stop writing new business immediately, to place its Bermuda operations into “an orderly...
ACE Bermuda Names Frank Lattal Exec. VP, General Counsel and Secretary
Jan 31 2002 // ACE Bermuda Insurance Ltd., a subsidiary of ACE Limited, announced the promotion of Frank Lattal to Executive Vice President, General Counsel & Secretary, responsible for all legal affairs. Lattal will also take...
Alea Group Capital Reaches $600 Million After
Jan 17 2002 // Alea Group Holdings (Bermuda) Ltd.(AGH) announced that it has received an additional $90 million of new equity capital from institutional investors, bringing the Group’s total operating capital to $600 million. AGH...
Zurich Global Energy Appoints Derek Ratteray
Jan 17 2002 // Zurich Global Energy® announced that Derek Ratteray has been appointed as Sr. VP of its International Casualty unit, based in Pembroke, Bermuda, effective February 1. “Ratteray will be responsible for providing...
Max Re Invests $50 Million in DaVinci Re
Jan 9 2002 // Bermuda’s Max Re Capital Ltd. announced that it has purchased $50 million worth of shares in DaVinci Re Holdings Ltd, and its operating subsidiary DaVinci Reinsurance Ltd. (DaVinci Re), the new Bermuda-based property...
A.M. Best Gives Goshawk Re A- (Excellent) Rating
Jan 4 2002 // A.M. Best Co. assigned an initial financial strength rating of A- (Excellent) to Goshawk Reinsurance Limited (Goshawk Re), the recently established Bermuda-based subsidiary of the U.K.’s Goshawk Insurance Holdings...
Golden Gate Capital Invests in Bermuda-Based Endurance Specialty Insurance
Jan 4 2002 // Golden Gate Capital, a private equity investment firm based in San Francisco, Calif., has invested in Endurance Specialty Insurance, a Bermuda-based start-up focusing on the commercial property and liability insurance and...
Welcome to the 3rd Annual “Top Ten Stories of the Year”
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Top 10 Stories of 2001
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the Future This is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth,...
Bermuda’s Monetary Authority to Handle Insurance Regulation
Dec 4 2001 // The Government of Bermuda has transferred responsibility for regulating the island’s insurance operations from the Finance Ministry to the Monetary Authority in a move seen by analysts as increasing transparency and...
AIG, Chubb, Goldman Sachs Establish New $1.5 Billion Bermuda Insurer
Nov 27 2001 // American International Group and Chubb Corp. have joined with GS Capital Partners 2000, L.P., an investment fund managed by Goldman Sachs & Co.to establish Allied World Assurance Holdings Ltd. with a total equity...
AXIS Specialty Begins Operations with $1.6 Billion
Nov 21 2001 // Bermuda-based AXIS Specialty Ltd., the new insurance and reinsurance company established by Marsh & McLennan subsidiary MMC Capital through its Trident II L.P. fund, announced that it has begun operations with an...
Arch Capital Bermuda Sub Fully Funded with
Nov 21 2001 // Arch Capital Group’s Arch Reinsurance, formed in response to the WTC disasters (See IJ Website Oct.25), announced that it has closed $763 million in private equity funding arrangements with Warburg Pincus, San...
New Capital Boosts Bermuda’s Reinsurance Industry
Nov 19 2001 // As the reinsurance industry gears up to replace a good portion of the capital lost in the Sept. 11 attacks, companies are seeking to place themselves in a position to profit from the expected surge in demand and resulting...
New Capital Boosts Bermuda’s Reinsurance Industry
Nov 12 2001 // The reinsurance industry is gearing up to replace a good portion of the capital lost in the Sept. 11 attacks, and companies are also seeking to place themselves in a position to profit from the expected surge in demand and...
