A.M. Best Co. has revised the outlook to positive from stable and affirmed the issuer credit ratings (ICR) of “a-” and senior debt ratings of ACE Limited, based in Zurich, Switzerland, and ACE INA Holdings Inc. In addition Best affirmed …
Bermuda-based PartnerRe Ltd. announced that Patrick Thiele, the Company’s President and CEO, has decided to retire, effective December 31, 2010. He will also step down from the Company’s Board of Directors at that time. Thiele has held the position of …
A.M. Best Co. has commented that the ratings of Bermuda-based Torus Insurance Holdings Limited and its operating subsidiaries are unchanged following Torus’ announcement that its subsidiary, Torus Insurance (Bermuda) Limited, will acquire Liechtenstein-based Glacier Insurance AG. [See IJ web site …
XL Capital Ltd announced from its Bermuda headquarters that ordinary shareholders have approved changing the parent holding company’s place of incorporation from the Cayman Islands to Ireland, following a special shareholders meeting. They also approved renaming the company from its …
Bermuda-based Validus Holdings, Ltd. announced a preliminary estimate of losses from the Deepwater Horizon oil platform loss in the Gulf of Mexico to be in the range of $38 million to $45 million, based on an industry loss estimate of …
The Bermuda-based Everest Re Group reported a net loss of $22.7 million, or $0.38 per common share, for the first quarter 2010, compared to net income of $108.6 million, or $1.76 per diluted common share, for the first quarter of …
Bermuda-based Aspen Insurance Holdings Limited reported a net profit after tax for the first quarter of 2010 of $18.3 million and operating earnings of $0.01 per diluted ordinary share, compared to a net profit after tax of $91.4 million, and …
Bermuda-based Max Capital Group and Harbor Point Limited, a privately held company, announced that their respective shareholders have voted in favor of all proposals necessary to consummate a merger of equals of Max and Harbor Point. Completion of the transaction …
Bermuda-based PartnerRe Ltd. announced preliminary estimates of expected claims, relating to the recent explosion of the Deepwater Horizon Drilling Platform in the Gulf of Mexico, as in “the range of $60-$70 million.” The bulletin added that these “losses are expected …
Bermuda-based Montpelier Re Holdings reported net income of $9.9 million ($0.13 per share) for the first quarter of 2010, and an operating loss of $23 million (-$0.31 per share). The reinsurer posted a $94 million loss, net of reinstatement premiums, …
