Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Hurricane Ophelia Sweeps Past Bermuda, Heads North
Oct 3 2011 // Hurricane Ophelia swirled to the east of Bermuda Saturday, whipping up showers, thunderstorms and surf on the British overseas territory as it raced northwards over the Atlantic, forecasters said. Ophelia, the third major...
Ratings: AmerInst, Emirates, Jamaica Int’l., Salama/BEST RE, Colonial, Trust Re
Sep 15 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of ‘a-‘ of Bermuda-based AmerInst Insurance Company, Ltd., both with stable outlooks. AmerInst...
Fitzpatrick to Head U.S. Retail for Endurance Specialty
Sep 12 2011 // Sean M. Fitzpatrick is joining Bermuda-based Endurance Specialty Holdings Ltd. in the new role of president and head of U.S. property/casualty retail insurance. Fitzpatrick will be responsible for expanding...
Bermuda Signs Tax Agreement with South Africa
Sep 9 2011 // Bermuda’s Premier and Minister of Finance the Hon. Paula A. Cox has announced the signing of a bilateral Tax Information Exchange Agreement (TIEA), between Bermuda and the Republic of South Africa. The agreement,...
Montpelier Group Names Schaper as President of Montpelier Re
Sep 8 2011 // Montpelier Re Holdings Ltd. Has appointed Christopher T. Schaper as President of Montpelier Reinsurance Ltd. , effective November 25, 2011 – subject to the approval of the Bermuda Department of Immigration. He will...
Hurricane Center Tracking 3 Atlantic Storms: Katia, Maria and Nate
Sep 8 2011 // It’s a busy time of year for the National Hurricane Center in Miami. The NHC is currently following one hurricane – Katia, and two tropical storms – Maria and Nate. Katia is following the previously forecast...
Hurricane Katia Now Expected to Miss East Coast
Sep 6 2011 // Hurricane Katia powered up to a major Category 4 storm Monday, but was expected to veer away from the U.S. East Coast later this week, avoiding a direct hit on a seaboard already battered by Hurricane Irene. The U.S....
AXIS Re Appoints Krenboeck Marketing Director for Latin America
Sep 2 2011 // Bermuda-based AXIS Capital Holdings Limited announced that Bruno Krenboeck has joined AXIS Re as Marketing Director for Latin America. He has over 17 years experience in the international insurance industry with specific...
Best Affirms Catlin Insurance Companies Ratings; Outlooks Stable
Sep 2 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of ‘a’ of Bermuda-based Catlin Insurance Company...
Bermuda’s Catalina Holdings to Acquire Residential Loss Control Holdings
Aug 26 2011 // Catalina Holdings (Bermuda) Ltd. has announced that its wholly owned subsidiary, Catalina Echo Limited, signed a definitive merger agreement on August 22, 2011 to acquire Residential Loss Control Holdings, LLC...
Lancashire’s Shareholders Approve UK Tax Move Plan; Share Increase
Aug 22 2011 // Bermuda-based Lancashire Holdings Limited has received approval from its shareholders to proceed with its previously announced plan to move its tax residence to the UK. The company, which operates subsidiaries in both...
Bermuda Association Lauds Government Progress on Solvency II ‘Equivalence’
Aug 18 2011 // While U.S. regulators are beginning to be worried about the impending imposition of the European Union’s Solvency II regulations for the re/insurance industry, which will come into force in 2014, Bermuda has been...
Tropical Storm Gert Strengthens, Will Brush Bermuda
Aug 15 2011 // Tropical Storm Gert strengthened slowly Sunday on a track toward Bermuda and forecasters said the global reinsurance hub could expect increased winds, rain and surf when the storm passed on its eastern side. Gert, the...
Best Revises Alterra, Operating Subs Outlook to Negative; Affirms Ratings
Aug 8 2011 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Alterra Bermuda Limited)...
Wafer to Replace Berger as Alterra’s Reinsurance CEO
Aug 3 2011 // Bermuda-based Alterra Capital Holdings Limited announced that John Berger, CEO of Reinsurance and a member of Alterra’s Board of Directors, is leaving in order to pursue a new opportunity. The company said Thomas C....
UPDATE – Validus Tops Allied World’s Bid for Transatlantic
Jul 12 2011 // Validus Holdings Ltd offered to buy reinsurer Transatlantic Holdings Inc for about $3.5 billion in cash and stock, trumping Allied World Assurance Co Holdings’ all-stock offer. Validus offered 1.5564 in shares and a...
Alterra Bermuda Approved for Reduced Collateral Status in New York
Jul 8 2011 // Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral...
Bermuda Signs Tax Information Agreement with Indonesia
Jun 27 2011 // Bermuda has signed a Tax Information Agreement, or TIEA, with the Republic of Indonesia at a ceremony in London on Wednesday, June 22, attended by Bermuda’s Premier, the Hon. Paula A. Cox, JP, MP, and H.E. Yuri...
Best Upgrades ACE Limited and Subs Issuer Credit Ratings; Affirms FSR’s
Jun 22 2011 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) and senior debt ratings to “a” from “a-” for Zurich-based ACE Limited and ACE INA Holdings Inc. Best has also upgraded the ICR to...
Best Affirms Ratings of Marine TT Clubs in Bermuda and UK
Jun 20 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’- (Excellent) and the issuer credit ratings of “a-” of Bermuda-based Through Transport Mutual Insurance...
