White Mountains Insurance Group, Ltd. And Prospector Partners, LLC’s on again off again sale of 4,785,540 common shares of Montpelier Re Holdings Ltd. (See IJ Website Mar.10 and 12) has been resolved by a block sale of the shares to …
Bermuda-based Arch Capital Group Ltd. announced that it plans to commence marketing for a public offering of 7,285,000 of its common shares. The company will sell 4,425,000 common shares and up to an additional 2,860,000 common shares are to be …
Moody’s Investors Service announced that it has downgraded the A1 Insurance Financial Strength Rating (IFSR) of Lloyd’s syndicate 1007, SVB Syndicates Limited, to A2 and assigned a stable outlook. It also indicated that the outlook of the A3 IFSR of …
Bermuda-based AXIS Capital Holdings Limited announced that its Board of Directors has nominated Jurgen Grupe, former chairman of AON – Reinsurance Europe, and Henry Smith, former CEO of The Bank of Bermuda Limited, for election to the Board of Directors, …
A.M. Best Co. announced that it has downgraded the financial strength rating to “B+” (Very Good) from “A-” (Excellent) of Centre Solutions (Bermuda) Ltd. and its operating subsidiaries. Best also changed the under review status for all ratings to negative …
Aegon, the Netherlands’ insurer and financial services giant, reported fourth quarter net income rose 32 percent to 470 million euros ($573 million), while full year earnings rose 16 percent to 1.793 billion euros ($2.187 billion). In 2002 Aegon earned 355 …
During a conference call this week, insurance regulators from across the country unanimously adopted the National Association of Insurance Commissioners‘ (NAIC) Market Analysis Handbook, which will be used as a tool to guide the states market analysis efforts. The regulators …
Minneapolis-based workers’ compensation insurer and third-party administrator RTW Inc. has been awarded a three-year contract with the Minnesota Assigned Risk Plan. Under the terms of the contract, RTW will provide policy issuance and claims management services to 25 percent of …
Mayfield Village, Ohio-based vehicle insurer Progressive Corp. reported another strong month in February, including a profit of $145.1 million, 63 percent higher than $89 million a year ago. Net premiums written also grew 12 percent from February 2003 to more …
Stephen S. Marcum, 46, has announced that he will not seek re-election as a member of the board of directors of the Fairfield-based insurer Ohio Casualty Corp. He will step down effective April 21, 2004, at the company’s annual shareholders …
