In 2008, the underwriting and operating performance of surplus lines companies continued to outpace that of the total property/casualty industry, although at a diminished level from 2007 due to persistent soft market conditions, the recession, and underwriting and investment losses. …
Bermuda-based PartnerRe Ltd. announced that its shareholders, at a Special General Meeting, have approved all of the proposals unanimously recommended by the Company’s Board of Directors to effect the Company’s proposed acquisition of PARIS RE, a French-listed, Swiss-based diversified reinsurer …
The Bermuda Monetary Authority (BMA) has signed a Memorandum of Understanding (MOU) with the Florida Office of Insurance Regulation (FLOIR). The bulletin noted that it “is the latest in a number of such agreements that the Authority has signed to …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that a team lead by Nick Jones has joined its Lloyd’s underwriting operation, Marlborough Underwriting Agency Ltd., to create a worldwide property division. Flagstone said that initially the team will be writing on behalf …
Lloyd’s conservative management, combined with a notable lack of major natural catastrophes, has resulted in a £1.32 billion ($2.18 billion) pretax profit for the first half of 2009, compared to £949 million ($1.54 billion) in the same period for 2008. …
Standard & Poor’s Ratings Services has assigned its preliminary ‘BBB-‘ senior unsecured debt, ‘BB+’ subordinated unsecured debt, and ‘BB’ preferred shares ratings on Fairfax Financial Holdings Ltd.‘s US$2 billion universal shelf, which was filed on Sept. 18, 2009. S&P said …
Louisiana-based insurance wholesaler, Specialty Risk Associates Inc., announced several changes to its management team. Thomas Garland was named chief operating officer. Garland joined Specialty Risk in 2004 as vice president of Marketing and Underwriting responsible for the coordination of marketing …
Willis Group Holdings Limited has announced that its Board of Directors has approved changing the company’s place of incorporation from Bermuda to Ireland. Willis’ shareholders will vote on the measure to change the place of incorporation, also known as a …
Zurich in North America named Marcus Cooper as senior vice president for national sales and strategic relationships, effective immediately. Cooper replaces Mike Vaught, who is retiring. Cooper will continue serving as South Central regional executive until a replacement is hired. …
Brian Duperreault, president and CEO of Marsh & McLennan Cos. Inc., has extended his employment with MMC through January 2014. Duperreault has held this position since Jan. 30, 2008. Under the terms of the new agreement, Duperreault’s employment with MMC …
