Bermuda-based specialty insurer Ironshore Inc. has appointed Anthony Mammolite as executive vice president of its U.S. Property unit. Mammolite, who will be based in New York, will oversee strategy for the unit, which focuses on broker-sourced specialty commercial business. He …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) continues to produce positive investment returns, “based,” it said, “on its diverse investment portfolio and conservative approach to investment. “These returns have allowed the CCRIF to increase its claims-paying capacity and facilitate a …
Houston-based HCC Insurance Holdings Inc. (NYSE:HCC) has named Susan L. Howie to head its corporate Human Resources Department as vice president of Human Resources. Howie previously worked for HCC from 1997-2005, serving as head of the company’s Human Resources Department. …
Bermuda-based Validus Holdings announced that it has filed preliminary proxy materials with the U.S. Securities and Exchange Commission in connection with IPC Holdings Annual General Meeting of shareholders. Validus is urging the shareholders to oppose the issuance of IPC shares …
A.M. Best Co. has removed from under review with negative implications and affirmed the issuer credit rating (ICR) of “bbb-” of Cayman Islands-based Ironshore Inc. Best has also removed from under review with negative implications and affirmed the financial strength …
In the midst of the financial turbulence, it’s easy to lose sight of longer-term trends. The economic downturn doesn’t necessarily mean the end of certain industries, but it does imply that there are some changes ahead. The global property/casualty (P/C) …
The latest round in the battle over competing offers from Max Capital and Validus Holdings to take over Bermuda-based IPC Holdings, Ltd. opened with Validus releasing the full text of a letter it sent to IPC’s Board of Directors on …
Standard & Poor’s Ratings Services has assigned its ‘BBB+’ long-term counterparty credit and insurer financial strength ratings to U.K.-based marine insurer Steamship Mutual Underwriting Association Ltd. with a stable outlook. S&P said the “ratings reflect the company’s core status within …
Bermuda’s Max Capital Group responded with a flat denial to the assertions made in a letter from Validus Holdings that it had miscalculated the diluted book value per IPC share and diluted tangible book value per IPC share. The figures …
Marsh & McLennan Cos. paid out more than $33 million in compensation to its two chief executives that oversaw the company in 2008, according to an Associated Press calculation of figures disclosed in a regulatory filing last Thursday. Michael G. …
