Endurance Specialty Holdings News

Japan’s Cash-Flush Insurers to Keep Paying Hefty Prices for Overseas M&As

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 …

Delta Lloyd, Endurance Deals May Herald a Wave of Insurance M&As

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 …

Small Group of Bermudian Re/Insurers Drive Overall Q1 Premium Growth: S&P

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 …

Endurance Names Gallagher as Chief Risk Officer

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 …

Endurance Reports Q2 Net Income of $76M, Versus $75M in Q2 2014

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 …

Faure to Retire as Endurance’s CEO, Global Re; Young Named as Successor

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 …

Montpelier Re to Hold Special Shareholders’ Meeting on Endurance Acquisition

Bermuda-based Montpelier Re Holdings Ltd announced that it has scheduled a special general meeting of its shareholders to “consider and vote upon a proposal to approve the previously announced Agreement and Plan of Merger,” dated March 31, 2015. Shareholders will …

IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers

The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …

Endurance Reports Q1 Net Income of $100.3M, Up From $96.3M in Q1 2014

Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $100.3 million and $2.23 per diluted common share for the first quarter of 2015 versus net income of $96.3 million and $2.17 per diluted common share for the …

XL Looks to Illiquid Securities, Infrastructure to Boost Yields: McGavick

XL Group plc Chief Executive Officer Mike McGavick said the insurer is looking to illiquid securities and infrastructure investments to boost portfolio yields squeezed by interest rates that are near record lows. “We can get a little bit into the …