November 13, 2009
ACE Tempest Re Europe has announced the appointment of David Mann in the newly created role of Senior Underwriter for Structured Risks. The appointment “further enhances ACE’s commitment to expanding its product offering across its Reinsurance division,” said the bulletin. …
November 13, 2009
A.M. Best Co. has affirmed the financial strength rating of A’- (Excellent) and issuer credit rating of “a-” of the UK-based Sunderland Marine Mutual Insurance Company Limited (SMMI), both with stable outlooks. Best said it expects SMMI’s risk-adjusted capitalization “to …
November 12, 2009
A.M. Best Co. has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Hannover Re (Bermuda) Ltd. with stable outlooks on both ratings. Hannover Re Bermuda’s ICR has …
November 11, 2009
A.M. Best Co. has affirmed the financial strength rating of’ A+’ (Superior) and issuer credit rating of “aa-” of Bermuda-based Tokio Millennium Re Ltd. (TMR), both with stable outlooks. Best noted that TMR is a wholly owned subsidiary of Tokio …
November 10, 2009
The Bermuda-based Argo Group International Holdings, Ltd., the successor to Texas insurer Argonaut, announced the appointment of N. James Tees as chief accounting officer and treasurer, and Rip Reeves as chief investment officer. Both will report to Argo Group CFO …
November 9, 2009
Bermuda-based Validus Holdings reported net income of $499.2 million, or $5.21 per diluted common share for the three months ended September 30, 2009, compared with a net (loss) of ($126.3) million, or ($1.71) per diluted common share, for the three …
November 5, 2009
The Bermuda -based Catlin Group Limited has released its interim management statement as of Sept. 30, 2009, which shows significant gains in the Group’s operations. The bulletin listed the following highlights for the period: — 10 per cent increase in …
November 5, 2009
Bermuda-based Montpelier Re Holdings Ltd. reported net income of $148 million ($1.68 per share) for the third quarter and $359 million ($4.11 per share) for the nine months ended September 30, 2009. Operating income, which excludes investment gains/losses, was $62 …
November 5, 2009
The Bermuda Monetary Authority has been appointed as a member of the Executive Committee of the International Association of Insurance Supervisors (IAIS) after a vote taken at the IAIS’s recent annual General Meeting in Rio de Janeiro. The Executive Committee, …
November 4, 2009
Bermuda-based Flagstone Reinsurance Holdings Limited announced that its net income attributable to common shareholders for the quarter ended September 30, 2009, was $67.1 million, or $0.80 per diluted share, compared to a net loss of $186.5 million, or $2.18 per …