July 10, 2012
S.A.C. Re, Ltd. announced that it has commenced operations with $500 million of contributed capital, raised in a private placement of the equity securities of its parent, S.A.C. Re Holdings, Ltd. S.A.C. Re Holdings’ founding investors include Steven A. Cohen …
July 9, 2012
Montpelier Reinsurance Ltd., the Bermuda reinsurance subsidiary of Montpelier Re Holdings, announced the appointment of Dr. Gero Michel as Head of Risk Analytics, a new position at the Company, effective July 1, 2012. He will focus on “enhancing Montpelier’s risk …
July 3, 2012
Chicago-based CNA Financial Corporation and Hardy Underwriting Bermuda Limited announced the successful completion of CNA’s acquisition of Hardy, which was approved by Hardy shareholders in April 2012. The bulletin also said that “regulatory approvals for the transaction, including from Lloyd’s …
June 29, 2012
According to Fitch Ratings, “while insurance industry concerns factored into Tuesday’s downgrade of Bermuda,” it does not expect Bermuda (re)insurers to be affected, “as all our ratings of Bermuda (re)insurers remain below the new sovereign rating, which also has a …
June 20, 2012
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Argo Re Ltd. and its subsidiaries, as well as the ICR of “bbb” and debt ratings of the …
June 19, 2012
Bermuda-based Endurance Specialty Holdings Ltd. announced that Michael Belfatti will join the company as Chief Actuary with responsibility for overseeing Endurance’s global pricing and reserving activities. He will be based in Endurance’s Bermuda office and reports to CEO David Cash. …
June 13, 2012
Arch Reinsurance Europe Underwriting Limited announced that Maamoun Rajeh will be appointed as the company’s President and CEO as of July 1, 2012. He will succeed Helmut Söhler, who will assume the position of Vice Chairman of Arch Worldwide Reinsurance …
June 13, 2012
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the North America property/casualty subsidiaries of ACE Limited, which is based in Zurich, as well as its ratings for …
June 13, 2012
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit ratings of “a-” of Through Transport Mutual Insurance Association Limited (TTB) (Bermuda) and its subsidiary, TT Club Mutual Insurance Limited …
April 26, 2012
Tower Group announced that it has committed to invest $75 million (based on the current exchange rate) in Canopius Group, Ltd., a privately owned Lloyd’s insurance holding company domiciled in Guernsey, Channel Islands. “Canopius’ principal business is insurance and reinsurance …