A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the operating company, Alterra Bermuda Limited (formerly Alterra Insurance Limited), which is an amalgamation of Alterra Capital Holdings Limited’s …
Global reinsurance companies are reconsidering their choices of corporate domicile, according to a new report from Standard & Poor’s Ratings Services, titled “Choosing A Domicile Remains A Hot Topic For Global Reinsurers.” S&P notes that the “choice of domicile–which can …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the life/health and property/casualty operating subsidiaries of Colonial Group International Ltd. The outlook for all ratings is stable. Colonial …
BMS, the London-based specialist insurance group, announced the appointment of Carl Beardmore as CEO of BMS Associates Ltd, the group holding company, subject to the approval of the UK’s Financial Services Authority (FSA). The bulletin noted that he has “been …
Robert Clements, a global insurance industry leader who helped start several insurers and a brokerage died on Sept. 4, 2010 of cancer at age 77. Clements founded Arch Capital Group and Ironshore Inc. and was instrumental in the launching of …
Stephen A. Korducki, a senior insurance and reinsurance executive, has been elected president and CEO of Sunshine State Insurance Co. Inc. (SSIC), a homeowners insurance writer in Florida. Korducki succeeds John E. Rogan who is retiring after leading the company …
Tropical Storm Fiona is located about 610 miles, 980 kms south of Bermuda, according to the National Hurricane Center’s 8:00 a.m. AST bulletin. The storm is moving toward the northwest near 17 mph, 28 km/hr. The NHC said this “general …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb+” from “a-” of Swiss-based Glacier Reinsurance AG. Best has also placed both ratings under review with negative implications. …
Bermuda-based Endurance Specialty Holdings announced that Arturo E. Falcon has joined Endurance Worldwide Reinsurance to lead the expansion of Endurance’s global reinsurance portfolio in the Latin American market. He is based in a new Endurance reinsurance office in Miami, Florida. …
The National Hurricane Center (NHC) has issued advisories on Hurricane Danielle, Tropical Storm Earl and Hurricane Frank. No watches or warnings of possible landfall have been issued. Danielle, a Category 4 hurricane, is expected to strengthen and pass Bermuda on …
