EW ORLEANS (AP) – The oxygen-depleted “dead zone” that forms each year in the Gulf of Mexico off Louisiana and Texas is forecast to cover about 4,155 square miles (10,761 square kilometers) this year. That’s about 1,200 square miles (3,107 …
Flooding and debris from storm runoff closed a 17.5-mile stretch of U.S. between Superior and Miami in east-central Arizona, authorities said. The Arizona Department of Transportation said there was no estimated reopening time. U.S. 60 is a major route between …
Capital Returns Management LLC, the fifth largest shareholder of Watford Holdings Ltd., is urging the re/insurer to sell itself or be put into runoff. In a letter to Watford’s board of directors, the activist shareholder and specialist insurance investor complained …
Hamilton Insurance Group Ltd. said it is placing Acappella Syndicate 2014 into runoff. Acappella is a third-party capital supported Lloyd’s syndicate included in Hamilton’s acquisition in August of Liberty Mutual’s Pembroke Managing Agency Limited (now Hamilton Insurance UK Limited). Acappella …
UBS O’Connor LLC, the $6 billion hedge-fund unit within Switzerland’s biggest bank, will manage money for a new Bermuda-based reinsurance company formed by insurer Enstar Group Ltd. Aligned Re Ltd. is expected to be funded by third-party capital along with …
The snowpack atop mountain peaks in California and Colorado has a new set of eyes watching from high above to better gauge the amount of water that will rumble down rivers and streams each spring as runoff. In a new …
Catalina Holdings (Bermuda) Ltd has announced that it has signed a definitive Share Purchase Agreement to acquire 100 percent of the shares in KX Reinsurance Company Limited, including KX Re’s wholly owned subsidiary OX Reinsurance Company Limited, from Tawa plc. …
Catalina Holdings (Bermuda) Ltd. announced that it has signed a definitive agreement to acquire two legacy businesses, HSBC Reinsurance Limited and HSBC Insurance (Ireland) Limited from HSBC Holdings plc, “subject only to regulatory approval from the Central Bank of Ireland. …
A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of UK-based Brit Insurance Limited (BIL), and has kept the …
The Netherlands-based Brit Group and Canada’s Fairfax Financial Holdings Limited have announced that RiverStone, Fairfax’ runoff subsidiary, has entered into an agreement with Brit to purchase all of the outstanding shares of UK-based Brit Insurance Limited (BIL), which wrote UK …
