The Bermuda-based Max Capital Group Ltd. Has decided to throw in the towel on its efforts to merge with IPC Holding Ltd. Following the decisive rejection of its amalgamation proposal by IPC shareholders on Friday [See IJ web site – …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of the Bermuda-based Through Transport Mutual Insurance Association Limited (TTB), and its wholly owned subsidiary, the UK-based TT Club Mutual …
Shareholders of Bermuda-based insurer IPC Holdings voted down a tie-up with Max Capital Group on Friday, Max said. The deal between IPC and Max, also Bermuda-based, had the approval of the boards of both companies. IPC shareholders may have voted …
Property/casualty insurers and reinsurers rely more than ever on the expertise of actuaries at a point in the cycle when the market is neither softening nor hardening, attendees at the CAS Seminar on Reinsurance were told in a wide-ranging panel …
A unit of Warren Buffett’s Berkshire Hathaway Inc. has agreed to provide guarantees on XL Capital Ltd directors and officers (D&O) liability insurance policies that protect corporate boards and executives against lawsuits. In a regulatory filing, XL said Berkshire’s National …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the Bermuda-based Everest Re Group, Ltd.’s reinsurance and insurance subsidiaries. Best also affirmed the ICR of “a-” of Everest …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of “B++’ (Good) and issuer credit rating of “bbb” of Bermuda-based Elwood Insurance Limited. Best said: “Elwood’s ratings recognize its excellent capitalization level, …
Bermuda-based Validus Holdings, announced that it has delivered a further increased offer to the Board of Directors of IPC Holdings for the amalgamation of Validus and IPC. Validus said its increased offer would give IPC shareholders $3.75 in cash for …
Bermuda’s Catlin Group Limited has promoted Simon Shrimpton to senior marine hull underwriter in its London office. He will head Catlin’s six-person team, underwriting hull business on behalf of the Catlin Syndicate, the largest syndicate at Lloyd s, and Catlin …
Bermuda-based Max Capital Group Ltd. has announced that it and IPC Holdings, Ltd. have agreed to pay two cash dividends that deliver $2.50 per share to IPC shareholders following the closing of the IPC-Max merger. The first payment is for …
