Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Size Matters in Bermuda as Reinsurance Deals Heat Up: Real M&A
Jan 27 2015 // Insurance deal making is heating up as companies embrace a bigger-is-better philosophy. AXIS Capital Holdings Ltd.’s plan to merge with PartnerRe Ltd., creating a firm with a combined market value of $11 billion,...
Catlin, XL Agree to Takeover Terms
Jan 9 2015 // The Bermuda-based Catlin Group has published its acceptance of terms upon which XL Group plc will acquire Catlin in a “cash and share acquisition of the entire issued and to be issued share capital of Catlin by...
Davis Johnson Appointed Chief Communications Officer at Hamilton Insurance
Jan 8 2015 // Hamilton Insurance Group, the Bermuda-based holding company of property casualty reinsurer Hamilton Re and the organization’s U.S. property casualty insurance operations Hamilton USA, announced Wendy Davis Johnson...
Catlin Elected Chair of Association of Bermuda Insurers and Reinsurers
Nov 18 2014 // Stephen Catlin, Catlin Group Limited CEO, has been elected chair of the Association of Bermuda Insurers and Reinsurers (ABIR) for a two-year term beginning January 1, 2015. Catlin succeeds XL Group plc CEO Mike McGavick...
NAIC Working Group Recommends Bermuda as Qualified Jurisdiction
Nov 14 2014 // A working group of the National Association of Insurance Commissioners (NAIC) has recommended the Bermuda Monetary Authority (BMA) for approval as a “qualified jurisdiction” under the NAIC’s reinsurance...
Mt. Logan Re Appoints Tobin as Chief Financial Officer
Nov 4 2014 // Mt. Logan Re Ltd., Everest Re Group’s special purpose reinsurer, has appointed Krystalle Tobin as its chief financial officer. Tobin was most recently with Hiscox Insurance Company (Bermuda) Ltd. where she was chief...
Early Insured Loss Estimates on Hurricane Gonzalo Up to $400M
Oct 23 2014 // Early estimates by catastrophe modeling firms indicate insured losses from Hurricane Gonzalo in Bermuda will come in between $200 and $400 million. EQECAT estimates $300 million in insured losses, about the scale caused by...
Bermuda Recovering from Hurricane Gonzalo Property Damage, Power Outages
Oct 19 2014 // Hurricane Gonzalo scored a direct hit on Bermuda Friday night into Saturday morning, pummeling the tiny island chain with rain and howling winds that downed trees and knocked out power but spared it catastrophic damage or...
Hurricane Gonzalo Threatens Bermuda With Flooding, Storm Surge
Oct 17 2014 // Gonzalo, classified as a major hurricane and bearing down on Bermuda with tree-snapping winds, is forecast to bring flooding and a life-threatening storm surge as it’s projected to be the worst storm to hit the...
Hurricane Gonzalo Bears Down on Bermuda
Oct 16 2014 // The last major hurricane to strike land anywhere in the Atlantic basin was Sandy in 2012. That may change tomorrow as Hurricane Gonzalo bears down on Bermuda. Gonzalo again became a Category 4 storm today, the first since...
Tropical Storm Ana Eyes Hawaii; Hurricane Gonzalo Threatens Bermuda
Oct 15 2014 // Hurricane Gonzalo grew into a major storm that threatens Bermuda later this week, while half a world away Tropical Storm Ana may become the second system this year to sweep Hawaii’s Big Island. Gonzalo, with top...
U.S. Treasury Eyes Hedge Funds’ Use of Low-Tax Bermuda Reinsurers
Sep 12 2014 // The U.S. Treasury Department said it’s considering ways to end a “loophole” that allows hedge- fund managers to avoid taxes by routing their investments through an insurance company in low-tax countries...
Catlin Appoints Two Chief Underwriting Officers for London Hub
Sep 9 2014 // Paul Greensmith and Jonathan Gale have been appointed chief underwriting officers for Catlin Group Limited’s London hub, with primary responsibilities including insurance and reinsurance, respectively. Greensmith...
Business Moves
Sep 8 2014 // USI, Willis USI Insurance Services has entered into an agreement with certain subsidiaries of Willis North America Inc., part of Willis Group Holdings, to acquire seven of Willis’ retail insurance brokerage locations...
Hurricane Cristobal to Pass North of Bermuda; No Threat to U.S.
Aug 27 2014 // The most recent report from the National Hurricane Center in Miami, at 5:00 A.M. EDT, notes that Cristobal is now hurricane strength with maximum sustained winds of 80 mph – 130 km/h, and “some strengthening is...
Florida’s Citizens’ Gilway Defends Overseas Travel Before Governor, Cabinet
Aug 21 2014 // The top official of Florida’s state-backed property insurer stepped forward yesterday to defend his organization’s international travel, arguing it was necessary to conclude a $3.1 billion risk transfer...
ABIR Members Report 99% Insurance Contract Certainty Results
Aug 14 2014 // The 15 participating members of the Association of Bermuda Insurers and Reinsurers (ABIR) reported a record high contract certainty rate for insurance contracts at 99.0 percent. The year end 2013 results also showed a...
Florida’s Citizens Defends Travel Expenses Questioned By Gov. Scott
Aug 8 2014 // Florida Governor Rick Scott is calling on the top official of the state-backed property insurer to explain why the insurer has deviated from its limitations on overseas travel. Citizens Property Insurance Corp. officials...
Best Affirms Catlin Group’s Ratings; Outlook Stable
Aug 8 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Catlin Insurance Company Limited (CICL) (Bermuda), Catlin Insurance...
CNA Completes Sale of Continental to Wilton Re
Aug 4 2014 // CNA Financial Corp. announced it has completed completion the sale of Continental Assurance Co. (CAC) to a subsidiary of Wilton Re Holdings. Additionally, Wilton Re Bermuda Limited will reinsure all of the run-off...
