A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Endurance Specialty Insurance Ltd. and its affiliates. Best also affirmed the ICR of “bbb” and the debt ratings of …
The Bermuda-based Max Capital Group announced that it “intends to vigorously defend the enforceability of the amalgamation agreement between IPC Holdings, Ltd. and Max against the meritless lawsuit filed on April 28, 2009 by Validus Holdings, Ltd.” [See IJ web …
Bermuda-based Aspen Insurance Holdings Limited announced that the Company’s Board of Directors has appointed Mr. Peter R. O’Flinn to the Board in a non-executive capacity. He was also appointed to the Audit Committee and Chair of the Corporate Governance and …
The Bermuda-based Arch Capital Group reported that net income available to common shareholders for the 2009 first quarter was $139.9 million, or $2.24 per share, compared to $189.4 million, or $2.78 per share, in Q1 2008 first quarter. The Company …
Bermuda-based Montpelier Re Holdings Ltd. reported operating income of $47 million (or $0.54 per share) for the quarter ended March 31, 2009, compared to $28.2 million for the same period of 2008. Comprehensive net income was $51 million (or $0.59 …
Bermuda-based Validus Holdings, Ltd. has fired another salvo in its attempt to derail the planned amalgamation of IPC Re with the Max Capital Group (See IJ web site – https://www.insurancejournal.com/news/international/2009/04/02/99263.htm and https://www.insurancejournal.com/news/international/2009/04/06/99353.htm). Validus announced that it has filed legal proceedings …
A.M. Best Co. has commented that its ratings of Lloyd’s of London, Lloyd’s Reinsurance Company (China) Limited, the Society of Lloyd’s and of debt issued by the Society remain unchanged following the announcement that the Society has offered to repurchase …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of the New York-based QBE Re Group (U.S.) and its members. The rating actions apply to QBE Reinsurance Corporation, QBE Insurance Corporation …
Bermuda-based PartnerRe Ltd. posted net income of $141.5 million, or $2.32 per share on a fully diluted basis for the first quarter of 2009, compared to $129 million in the same period of 2008. “Net income includes net after-tax realized …
The Bermuda-based Max Capital Group announced the appointment of two senior underwriters – Clive Hatto and Hugh Sprowson – by Max at Lloyd’s Ltd, the Lloyd’s managing agent for Syndicates 1400, 2525 and 2526. Chairman and CEO W. Marston (Marty) …
