Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Ratings Recap: Lititz, Integon, Maiden, AmTrust, MLBA Mutual
Jun 15 2011 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A+ (Superior) and issuer credit rating of “aa-” of Lititz Mutual Insurance Pool, which includes the...
S&P: No. Am, Bermuda Insurers Enhancing Enterprise Risk Management Efforts
May 2 2011 // In an article published on its web site Standard & Poor’s Ratings Services said it has outlined its “updated enterprise risk management (ERM) opinions for all of its rated North American and Bermudan...
Alterra Announces Reinsurance Role Changes and Promotions
Apr 20 2011 // Bermuda-based Alterra Capital Holdings Limited announced several role changes and promotions that will affect its corporate and reinsurance operations, including the appointments of Greg Richardson as Executive Vice...
ABIR Reports 2010 Results for Bermuda’s Re/Insurers; $11.4 Bn Net Income
Apr 18 2011 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2010 global underwriting results for its 22 member (re)insurers – companies that write insurance and reinsurance from underwriting centers in...
Ratings Roundup: Syndicate 382/Hardy, Samsung Europe
Apr 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, which is...
Florida Approves Arch Re Under Reduced Collateral Law
Apr 4 2011 // Florida has added another company to its growing list of reinsurers that are taking advantage of a state law that allows it to reduce its capital requirement. Arch Reinsurance Limited, a Bermuda-based reinsurer, received...
Florida Allows Reinsurer Alterra Bermuda to Reduce Collateral
Mar 29 2011 // Another reinsurer has stepped forward to take advantage of a Florida law that allows it to lower its collateral and still conduct business in the state. Florida regulators announced that Alterra Bermuda Limited has been...
Kane to Acquire HSBC’s Insurance Management Operations
Mar 11 2011 // Kane, a provider of specialist risk and insurance management services, announced that it has signed an agreement to acquire the insurance management operations of HSBC. The bulletin explained that “under the...
Ratings Recap: Risk Re, Argus
Mar 4 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Cayman Islands-based Risk Reinsurance Limited (RRL), both with stable outlooks. The...
Tokio Millennium Re Receives Authorization for Australia
Mar 3 2011 // Bermuda-based Tokio Millennium Re Ltd. (TMR), a subsidiary of Japan’s Tokio Marine & Nichido Fire Insurance Co., Ltd., announced that the Australian Prudential Regulation Authority (APRA) has authorized...
Lower Collateral for 7 Reinsurers
Jan 24 2011 // Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that...
Florida Approves Lower Collateral for Renaissance Re
Jan 4 2011 // Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that...
Best Assigns ‘A’ Rating to Swiss-based Catlin Re
Dec 31 2010 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating (ICR) of “a” to Catlin Re Switzerland Ltd, the newly formed...
S&P Rates Catlin Re ‘A’; Sees ‘Key Benefits’ from Swiss-based Subsidiary
Dec 21 2010 // Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Switzerland-based Catlin Re Switzerland (CRCH), a new insurance entity created as a...
Best Affirms Amlin AG’s ‘A’ Ratings
Dec 17 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Swiss-based Amlin AG, a reinsurance subsidiary of...
Catlin Re Switzerland Receives Approval from Swiss Regulators
Dec 8 2010 // Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced that its reinsurance subsidiary, Catlin Re Switzerland Ltd. has received approval from the Swiss Financial Market...
Catlin’s Interim Statement Highlights Premium Gains
Nov 12 2010 // The Bermuda-based Catlin Group Limited’s interim management statement highlighted some significant premium increases in certain lines. The bulletin said: “Group-wide net premiums earned increased by 13 percent...
Best Affirms Hiscox Operating Companies ‘A’ Ratings; Outlook Stable
Nov 10 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Hiscox Insurance Company (Bermuda)...
Tropical Storm Shary on Track to Hit Bermuda by Tonight
Oct 29 2010 // The 8:00 a.m. AST bulletin from the National Hurricane Center in Miami placed the season’s latest tropical storm, Shary, around 220 miles (355 kms) south–southwest of Bermuda. The storm, which coalesced from a...
Best Affirms Torus Insurance and Operating Subsidiaries Ratings
Oct 27 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Torus Insurance (Bermuda) Limited, Torus...
