March 30, 2011
A.M. Best Europe – Rating Services Limited has placed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Omega Specialty Insurance Company Limited (OSIL) and the ICR of “bbb” of Omega Insurance …
January 7, 2011
Bermuda-based Omega Insurance Holdings Limited, which is also a leading LLoyd’s insurer, has issued a revised estimate of the losses it expects to incur from claims related to the earthquake, which struck New Zealand on Sept. 4. Omega explained that …
January 5, 2011
Bermuda-based Ironshore Inc announced the formation of Ironshore Europe Limited, domiciled in Dublin, Ireland. Fiona Marry has been appointed as CEO of the new insurer. She will report to the Ironshore Europe Limited Board chaired by Mark Wheeler, who also …
January 4, 2011
The Bermuda-based Everest Re Group has acquired the business and operations of Heartland Crop Insurance, Inc., a managing general agent, for $55 million plus the agreed upon value of the net assets of the agency, with an additional contingency of …
January 4, 2011
Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that authorized the Office of Insurance Regulation to establish lower collateral requirements for non-United States based …
December 31, 2010
A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating (ICR) of “a” to Catlin Re Switzerland Ltd, the newly formed wholly owned subsidiary of Bermuda-based Catlin Group Limited …
December 28, 2010
Chartis announced that it has entered into a reinsurance transaction with Lodestone Re, which will provide $450 million of protection to Chartis against U.S. hurricanes and earthquakes. “This represents a substantial increase from the $250 million of protection originally sought …
December 28, 2010
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Bermuda-based PMG Assurance Ltd., both with stable outlooks. The ratings reflect PMG’s “excellent capitalization, historically strong operating performance and …
December 22, 2010
Catlin Group Limited announced that, “based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, its loss amounts are approximately US$45 million, net of reinsurance and reinstatements. The revised estimate increases Catlin’s previous exposure …
December 22, 2010
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Flagstone Reassurance Suisse SA and its reassured affiliate, Flagstone Alliance Insurance and Reinsurance plc, which is based in Cyprus, as …