July 30, 2009
Bermuda-based Validus Holdings, Ltd. announced that Conan M. Ward has been appointed Chief Executive Officer of Validus’ wholly-owned subsidiary Validus Reinsurance, Ltd. and Kean D. Driscoll has been appointed Chief Underwriting Officer of Validus Re. Both men take up their …
July 29, 2009
Bermuda-based Torus Insurance (Holdings) Ltd. announced the appointment of Naveen Anand as Global Chief Operating Officer. He will be based in New Jersey and will report directly to Clive Tobin, Chief Executive of Torus. Anand will be the Chief Executive …
July 29, 2009
Bermuda-based XL Capital Ltd. announced that its book value rose in the second quarter, lifting its stock as much as 3 percent, as unrealized losses on some assets narrowed. Net profit fell 66 percent on foreign exchange losses and lower …
July 28, 2009
Bermuda-based PartnerRe Ltd. reported net income of $474.3 million, or $8.10 per share on a fully diluted basis for the second quarter of 2009. The bulletin said the figure “includes net after-tax realized and unrealized gains on investments of $279.6 …
July 28, 2009
The New York State Insurance Department has signed a cooperation agreement with regulators in China calling for closer cooperation between the two agencies in overseeing insurance issues. Acting Superintendent Kermitt Brooks and Jiang Bo, deputy director general of the International …
July 27, 2009
IPC Holdings, the Bermuda catastrophe reinsurer that attracted interest from more than a dozen bidders, held out for a storm-proof agreement before agreeing to a sale to rival Validus Holdings The $1.65 billion cash-and-stock deal, still to be approved by …
July 27, 2009
A.M. Best Co. has revised the outlook to stable from positive and affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Taiwan’s Central Reinsurance Corporation. Best explained that the “revised outlook reflects the …
July 27, 2009
Global specialty insurer Torus Insurance has appointed Dennis Johnson and Mark Mowinski as vice presidents and senior property underwriters, responsible for underwriting in the Midwestern U.S. They will both report to Steve Fomchenko, Torus’ global head of General Property Underwriting. …
July 24, 2009
The Bermuda-based Arch Capital Group Ltd. reported net income available to common shareholders for the 2009 second quarter at $152.1 million, or $2.43 per share, compared to $192.3 million, or $2.92 per share, for the 2008 second quarter. For the …
July 23, 2009
Despite a slight drop in total revenues, Bermuda-based Platinum Underwriters Holdings reported net income for the second quarter of 2009 of $98.1 million, compared to $99.755 million in Q2 2008. On a diluted earnings per share basis, however, Platinum returned …