Reconstructions of past hurricane activity in the Atlantic Ocean indicate that the most active hurricane period in the past was during the “Medieval Climate Anomaly” about a thousand years ago when climate conditions created a “perfect storm” of La Niña-like …
Maiden Holdings Ltd., a Bermuda-based reinsurance and specialty insurance provider, has appointed John Marshaleck to serve as the company’s new chief financial officer. Marshaleck has a 26-year history with Maiden and GMAC RE, and has served as chief operating officer …
A group of Venezuelan clients of Stanford Financial Group have sued the insurance broker Willis Group Holdings Ltd, accusing it of contributing to a $7 billion Ponzi scheme at the Texas-based investment company founded by Allen Stanford. The lawsuit filed …
Insurance industry merger consultant Merger & Acquisition Services, Inc. (M&A) reports that it has been awarded a $1.76 million judgment against a former officer of the company who kept M&A customer information and other property that he used to compete …
The New York State Insurance Department recently signed an agreement with regulators in Thailand that calls for increased cooperation between the two in investigating insurance matters. The agreement formalizes coordination between the two regulatory bodies. “This agreement between Thailand and …
Ironshore Inc. has established a dedicated Global Energy Property business, as an extension of its Global Property division. Ironshore will underwrite comprehensive coverages on commercial risks across virtually all classes within the specialty Energy sector. Ironshore, since its inception more …
Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $149.1 million and $2.42 per diluted common share for the second quarter of 2009, compared to $103.3 million and $1.54 per diluted common share in the second quarter of 2008. For …
Bermuda-based Montpelier Re Holdings Ltd. reported net income and comprehensive income of $159 million ($1.81 per share) and $163 million ($1.85 per share), respectively, for the quarter ended June 30, 2009, compared to $44.1 and $44.2 million respectively for the …
Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $271.2 million or $4.32 per diluted common share in the second quarter, compared to net income available to common shareholders of $135.7 million or $2.13 per diluted common …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based International General Insurance Company Limited (IGI). Best also affirmed the ICR of “bbb-” of International General Insurance Holdings Limited …
