Cayman Islands-based United America Indemnity has appointed Brian DeGraw as vice president of professional liability for Diamond State Group, one of three divisions of its U.S. operations. DeGraw will report directly to David J. Myers, president of Diamond State Group. …
ACE Limited announced that it will terminate the ACE Limited shareholder rights plan in conjunction with the Company’s re-domestication to Switzerland. ACE said the termination would “be accomplished by an amendment accelerating the final expiration date of the plan to …
Risk Management Solutions has performed a detailed review of the risk analysis processes for a multi-peril indemnity deal. “The transaction provides cover in two tranches against losses from U.S. windstorm and earthquake, Japanese typhoon and earthquake and European windstorm, as …
Munich Re, working with Aon, has arranged a securitization for Japanese insurer Zenkyoren, the National Mutual Insurance Federation of Agricultural Cooperatives, through Muteki Ltd., an exempted company in the Cayman Islands, to transfer Japanese earthquake risks to the capital markets. …
Cayman Islands-based Greenlight Capital Re, Ltd. has reported a net loss of $4.8 million for the first quarter of 2008 compared to a net loss of $13.1 million for the same period in 2007. On a fully diluted per share …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1225 (United Kingdom), which is managed by AEGIS Managing Agency Ltd (AEGIS UK). The outlook for both ratings …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Ironshore Insurance Ltd. and Ironshore Reinsurance Ltd. (both of Bermuda). Best also affirmed the ICR of “bbb-” of Ironshore’s …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced the appointment of Isaac Anthony and Dr. Warren Smith to its board. They will represent the interests of CARICOM (“Caribbean Community,” a business development organization – http://www.caricom.org) and the Caribbean Development Bank …
The liquidators of two Bear Stearns Cos mortgage hedge funds that collapsed last year, filed suit Monday against the company and its auditor, Deloitte & Touche, seeking to recover over $1 billion in losses. The suit, filed in U.S. District …
Standard & Poor’s Ratings Services has revised its CreditWatch on Financial Guaranty Insurance Co. (FGIC, rated ‘A’) and holding company FGIC Corp. (rated ‘BBB’) to CreditWatch with negative implications from CreditWatch with developing implications. S&P explained that FGIC’s principal owner, …
