Investors such as hedge funds and pensions are becoming more sophisticated as they partner with insurers, XL Group Plc Chief Executive Officer Mike McGavick said. In the past, capital-markets partners would “pat you on the head and they’d say, ‘You …
James River Group Holdings Ltd. could be a takeover target after hedge fund firm D.E. Shaw took the insurer public, according to an analyst at BMO Capital Markets. The insurer will probably post increases in premium revenue because of its …
Catlin Group Ltd. said it received a takeover approach from Ireland’s XL Group plc valued at about 2.5 billion pounds ($3.9 billion). The shares surged the most on record. Under the terms, XL would buy Catlin for 410 pence in …
China Reinsurance (Group) Corporation has received approval from Lloyd’s to transform its existing special purpose syndicate into a stand-alone syndicate that will underwrite a diversified book of business, initially focusing on reinsurance, incepting from January 1, 2015. The China Re …
Stephen Catlin, Catlin Group Limited CEO, has been elected chair of the Association of Bermuda Insurers and Reinsurers (ABIR) for a two-year term beginning January 1, 2015. Catlin succeeds XL Group plc CEO Mike McGavick who completes his two-year term …
The Catlin Group’s roots go deep into the Lloyd’s market where it was formed 30 years ago. But Catlin has since become one of the most innovative companies in the global insurance hierarchy with offices in more than 50 cities …
The Bermuda-based Catlin Group Limited posted strong increases in pretax profits and net income. The Group’s report for the first half of 2014 featured the following highlights in what it described as “challenging market conditions:” – 118 percent increase in …
The Bermuda-based Catlin Group Limited listed the following highlights for the financial results for the six months ended 30 June 2013. — Strong Underwriting Reflected in 88.9 percent Combined Ratio — Strong underwriting performance US$441 million in net underwriting contribution …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Catlin Insurance Company Limited (CICL), based in Bermuda, Catlin Insurance Company (UK) Ltd. and Catlin …
The Bermuda-based Catlin Group Limited announced that it currently estimates its Sandy-related losses at approximately $200 million, net of reinsurance and reinstatements. Catlin noted that the “storm system caused extensive damage to portions of the United States and Canada on …
