United National Group Ltd., a holding company formed under the laws of the Cayman Islands, announced it has filed a registration statement on Form S-1 for an initial public offering of its class A common shares. It intends to apply …
A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Royal Bank of Canada Insurance Company Ltd., (RBCI) (St. Michael, Barbados). The rating has a stable outlook. The rating for RBCI reflects its prudent capitalization, excellent underwriting …
Platinum Underwriters Holdings, Ltd.’s first full quarter of independent operation since its initial public offering last October got off to a good start. The company reported net income of $30.6 million, or $0.71 per common share, for the quarter ended …
Barbados-based Everest Re Group, Ltd. announced that it has sold 4,480,135 common shares through an underwriting placement with Goldman Sachs, who will re-offer the shares to investors. Everest Re recently reported strong first quarter earnings, and upped its forecasts for …
The Barbados-based Everest Re Group, Ltd. reported first quarter 2003 after-tax operating income of $104.1 million, or $2.02 per diluted share, a 58% increase compared to $66.1 million, or $1.35 per diluted share in the first quarter of 2002. Net …
Increases in premiums and higher demand for reinsurance seems to be offsetting falls in equity values, as two of Bermuda’s leading reinsurers, RenaissanceRe and Everest Re, posted strong third quarter results. RenRe’s operating earnings per common share grew to $1.14 …
Tropical storm Isidore came ashore in southern Louisiana around 1:00 a.m. this morning, hitting the New Orleans area with heavy rains and high winds, but so far causing only relatively minor damage. One small tornado was reported, and the National …
Everest Re Group, Ltd. reported that its first quarter 2002 after-tax operating income, which excludes realized capital gains and losses, was $66 million, or $1.35 per diluted share, a 23.6 percent increase compared to $53.4 million, or $1.14 per diluted …
A.M. Best announced that it has downgraded the financial strength rating to C (Weak) from B+ (Very Good) of the Bermuda-based I.P.C. Group, and removed the ratings from under review. Group operations affected include: “Mutual Indemnity (Barbados) Ltd., Mutual Indemnity …
Barbados-based Everest Re Group, Ltd. announced that a preliminary estimate of its loss exposure following the collapse of Enron would amount to around $25 million net after reinsurance and tax recoveries. The estimate covers estimated losses from the Group’s subsidiaries …
