AXIS Capital Holdings Ltd. has not communicated with any potential acquirer, including Arch Capital Ltd., since it engaged in merger talks with competitor PartnerRe Ltd last fall, people familiar with the matter said on Thursday. The Financial Times wrote on …
Bermuda-based Arch Reinsurance Ltd., a member of Arch Capital Group Ltd., has completed the acquisition of Gulf Reinsurance Ltd. Gulf Re, a specialty reinsurer based in the Dubai International Financial Centre, was founded jointly by Arch and the Gulf Investment …
Brit plc Chief Executive Officer Mark Cloutier said an excess of insurance industry capital will force more executives to sell or merge their companies. Cloutier said Brit’s planned $1.88 billion sale to Prem Watsa’s Fairfax Financial Holdings Ltd., which was …
Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but skeptics are questioning whether they will stick around ahead of the next “big one” as underwriting returns fall. Hedge funds …
Bermuda-based insurers Arch Capital Group Ltd and PartnerRe Ltd. Have released their respective preliminary estimates of losses incurred from Hurricane Sandy. Arch said its preliminary estimate of losses “ranges between $170 million and $240 million, net of reinsurance and the …
Selected earnings highlights from Bermuda-based Arch Capital Group for the second quarter and the first six months of 2012 are as follows: Q2 2012 Q2 2011 Gross premiums written ———— $1.051813 bn $911.939 mn Net premiums written ————— $820.233 mn …
The Bermuda-based Arch Capital Group Ltd. announced that Mark D. Lyons will assume the position of Executive Vice President and CFO of the Company, effective September 1, 2012. He joined Arch in 2002 and currently serves as Chairman and CEO …
The Bermuda-based Arch Capital Group announced that it has officially acquired Ariel Re’s Credit & Surety reinsurance operations based in Zurich, as previously announced. The closing occurred at the same time as the acquisition by Goldman Sachs of Ariel Re’s …
A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Vermont-based Saturn Insurance Inc., and has assigned a stable outlook to both ratings. Saturn is a captive …
Standard & Poor’s Ratings Services has followed up on its analysis of its ratings for Bermuda-based Ariel Reinsurance Co. Ltd. following the announcement that it is selling its Bermuda-based business to Arrow, a unit of Goldman Sachs, and its credit …
