Cayman Islands-based Greenlight Capital Re, Ltd. reported net income for the second quarter of 2008 of $33.5 million, compared to a net income of $21.3 million for the same period in 2007. On a fully diluted basis, net income per …
Risk Management Solutions announced that a $200 million Multi-Peril Securitization has become the first catastrophe bond issued using RMS Paradex Europe WiNdstorm index for risk analysis. RMS said it has “performed the risk analysis for a catastrophe bond covering four …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
XL Capital received the inevitable negative reaction from the rating agencies following its announcement that it would pay $1.78 billion in cash and issue 8 million shares as part of a bailout plan to shore up former subsidiary Security Capital …
Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ counterparty credit rating on the Bermuda-based holding company Endurance Specialty Holdings Ltd. S&P also affirmed its ‘A’ counterparty credit and financial strength ratings on the holding company’s core operating subsidiaries: Endurance …
ACE Limited reported that it has completed the previously-announced re-domestication of the company from the Cayman Islands to Zurich, Switzerland. ACE said it continues to be registered with the Securities and Exchange Commission (SEC) and prepare its financial statements in …
Indiana Insurance, a Liberty Mutual Agency Markets regional company, appointed Jessica M. Frankovich as Inland Marine underwriting manager. Frankovich will be based in Indiana Insurance’s Illinois regional office and will manage and grow the company’s Inland Marine book of business. …
United America Indemnity Ltd. (UAI), based in the Cayman Islands, appointed Scott Reynolds as president of United National Group, one of UAI’s three U.S. divisions. The appointment is effective July 28, 2008. Reynolds will report directly to Larry A. Frakes, …
Ironshore Inc. announced from Bermuda that it has signed a sale and purchase agreement with Chaucer Holdings PLC and the management of Pembroke for the £17 million ($34 million) cash purchase of Pembroke Managing Agency Limited, which manages Lloyd’s Syndicate …
