A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Amlin Bermuda Limited (ABL), both with stable outlooks. In a separate bulletin Best affirmed the financial strength rating ‘A+’ (Superior) and …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Bermuda-based Arch Reinsurance Ltd. and its reinsured affiliates. Best also affirmed the ICRs of “bbb” and “bbb+” of Arch …
Bermuda-based PartnerRe Ltd. announced that Jérôme Carré, currently Chief Risk Officer for PARIS RE, has been appointed as PartnerRe Group Risk Management Director, effective January 1, 2010. He will report to CEO Patrick Thiele, and will be responsible for coordinating …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Lloyd’s Syndicates 570 and 609, which are both managed by Atrium Underwriters Limited (AUL). The outlook for all of the ratings …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on the following core subsidiaries of Bermuda-based Catlin Group Ltd. to ‘A’ from ‘A-‘: — Bermuda-based Catlin Insurance Co. Ltd. — U.S.-based Catlin Specialty …
A.M. Best Co.’s review of the Bermuda market’s results finds these companies strongly capitalized; However, Best warned that they will “face significant challenges during the current phase of the insurance cycle.” Best said it “believes that companies also must consider …
Bermuda-based Montpelier Re Holdings Ltd. announced the formation of a new UK Managing General Agent, Paladin Underwriting Agency Limited, a wholly-owned subsidiary of the Montpelier Group. The new MGA has received authorization from the UK’s Financial Services Authority (FSA) and …
Insurance administrator CRM Holdings is being sued for $405 million by New York’s workers compensation board and faces a separate $150 million lawsuit by the state attorney general over its alleged fraud in the management of its workers’ compensation business …
Willis Group Holdings Limited announced that its shareholders have approved changing the place of incorporation of the parent company of the Willis Group from Bermuda to Ireland at a special meeting in New York. The Board of Directors had earlier …
The Bermuda Institute of Ocean Sciences (BIOS) recently released a study of the oceans surrounding Bermuda, which, it said, “are arguably the most comprehensively studied marine sites in the world.” The study found an “increase in acidity due to human-related …
