A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” to Bermuda-based Empyrean Re Ltd. with a stable outlook. “The ratings of Empyrean Re are based on its excellent capitalization, experienced …
Hilb Rogal & Hobbs has signed a definitive agreement to acquire the stock of Glencairn Group Limited, an independent Lloyd’s insurance and reinsurance broker group headquartered in London. HRH said the purchase price, which was not disclosed, “will consist of …
Catlin Group Limited announced the opening of its new Underwriting Floor in London.The new facility, located on the Upper Ground Floor of the London Underwriting Centre (also Catlin’s London headquarters), covers 20,000 square meters (over 200,000 sq. ft.), and “has …
The UK’s Beazley Group plc announced that Peter Jenkins and Marc Werblow have joined its political risks underwriting team. “Their appointment demonstrates Beazley’s commitment to grow the business through attracting best in class underwriting talent,’ said the bulletin. Jenkins joins …
The Bermuda-based Catlin Group announced that its offer for Wellington plc (See IJ web site Oct. 30) “is being declared unconditional as to acceptances and that all required regulatory approvals have been received. All conditions to the Offer have now …
In his introduction to the latest progress report on Lloyd’s three-year plan, CEO Richard Ward noted that the current version “builds on the 2006-2008 plan issued in January. It includes our vision and priorities through to 2009, and an update …
The Board of Equitas and the Equitas Trustees have written to all Reinsured Names announcing three consultation meetings in January. Equitas is the vehicle established in 1996 by Lloyd’s to run-off its pre-1992 liabilities, principally asbestos and environmental claims. The …
The UK-based Hiscox Limited has officially become Bermuda-based Hiscox Ltd., as shares of the redomiciled Group were admitted to trade on the London Stock Exchange yesterday, Dec. 12. Hiscox noted that “following shareholder approval at the Court Meeting and Extraordinary …
According to the latest study by a team of scientists from the National Center for Atmospheric Research (NCAR), the University of Washington, and McGill University, the Arctic ice pack is recovering less and less from summer melting. By 2040 the …
A report from international broker Benfield’s Industry Analysis and Research team entitled “Venturing Forward,” notes that Lloyd’s focus “has turned firmly forward” following the announcement of the Equitas deal. according to Benfield’s latest ‘Lloyd’s Update’ report,t following the transfer of …
