June 2, 2017
Sompo International, a Bermuda-based specialty provider of property and casualty re/insurance, announced its London market insurance platform has agreed to acquire Novae Syndicates Ltd.’s financial institutions’ (FI) renewal rights. The purchase, which excludes emerging markets business, encompasses a portfolio that …
May 23, 2017
A.M. Best has placed under review with developing implications the financial strength rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Zurich-based Sompo Japan Canopius Reinsurance AG. The credit rating action follows the successful completion the …
May 16, 2017
The soft pricing in the global reinsurance market will continue, at least, for the rest of the year, Fitch Ratings says. Fitch expects premium rates to continue declining as a result of large amounts of under-deployed capital and sluggish demand …
March 31, 2017
Endurance Specialty Holdings Ltd. got a financial ratings upgrade from A.M. Best and is no longer under review, based on positives the ratings agency sees after it was acquired by Japan’s SOMPO Holdings Inc. for $6.3 billion. A.M. Best upgraded …
October 7, 2016
Japan’s cashed-up insurers are likely to keep paying hefty premiums for overseas assets as they seek to spur growth and overcome negative interest rates, fewer lucrative investment options and a fast-maturing market at home. According to Thomson Reuters data, last …
October 6, 2016
NN Group NV and Sompo Holdings Inc.’s approaches for smaller competitors may herald a wave of mergers and acquisitions in an insurance industry that’s struggling with low interest rates and increased regulation. Japan’s Sompo agreed to buy Bermuda-based Endurance Specialty …
May 24, 2016
At first glance, Bermudian re/insurance companies appeared to start the year with a bang, reporting a 21 percent increase in consolidated gross premiums written (GPW), according to a new report published by Standard & Poor’s. However, that picture is slightly …
September 22, 2015
Endurance Specialty Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Christopher Gallagher will assume the position of chief risk officer and group actuary, effective immediately. Gallagher succeeds Joan deLemps who announced her intention to …
August 6, 2015
Bermuda-based Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $76.0 million and $1.68 per diluted common share for the second quarter of 2015 versus net income of $75.0 million and $1.68 per diluted common share for …
May 27, 2015
Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Jerome Faure will step down from the position of chief executive officer, Global Reinsurance, on January 1, 2016 and will retire from Endurance …