Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
The offshore reinsurance tax debate resurfaces in Congress again
Oct 8 2007 // An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee late last month that a major tax advantage for certain foreign insurance groups could threaten...
News Currents
Oct 8 2007 // The offshore reinsurance tax debate resurfaces in Congress again Domestic-owned insurers claim Bermuda-based companies hold an unfair tax advantage An industry executive, representing a coalition of 14 large U.S.-based...
The Offshore Tax Debate – Déjà vu – All over Again
Sep 28 2007 // At least that’s how Yogi Berra might describe it. On Sept. 25 William R. Berkley, chairman and CEO of the company of the same name, gave a detailed indictment before the Senate Finance Committee of the iniquities...
Insurers Urge Congress to Level Bermuda Insurers’ Tax Playing Field
Sep 26 2007 // An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee on Wednesday that a major tax advantage for certain foreign insurance groups could threaten...
U.S. excess and surplus lines market attracts international attention
Sep 24 2007 // The United States excess and surplus lines market presents opportunities that are not lost on the rest of the world. Lloyd’s is the second largest U.S. surplus lines writer with a 14 percent market share. Direct...
S&P: Bermuda Reinsurance Class Of 2001 Doing Well
Sep 12 2007 // Standard & Poor’s Ratings Services has published a commentary, titled, “Bermuda Class Of 2001: Five Years On,” which examines the present state of recent Bermuda reinsurance...
Watson Joins Flagstone Re Board
Sep 6 2007 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that Peter F. Watson has joined their Board of Directors. He is Vice Chairman, President and CEO of Attorneys’ Liability Assurance Society (Bermuda) Ltd....
Ratings Roundup: CRC (Bermuda) Re
Aug 27 2007 // A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of CRC (Bermuda) Reinsurance Limited (CRC), a...
S&P Publishes Bermuda FAQ Report
Aug 16 2007 // Standard & Poor’s Ratings Services has published a FAQ (frequently asked questions) about the Bermuda insurers’ financial strength. S&P credit analyst Thomas Upton noted that “following a year...
Rating Roundup: BF&M
Aug 13 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and assigned issuer credit ratings (ICR) of “a” to Bermuda-based BF&M Limited and its operating affiliates. The...
Max Cap Announces Refinancing
Aug 9 2007 // The Bermuda-based Max Capital Group Ltd. announced that on August 7, 2007, Max Capital and its Bermuda operating company, Max Bermuda Ltd. “entered into a credit agreement with Bank of America, N.A....
Argonaut, PXRE Complete Merger; Officers Named; Financial Statement
Aug 8 2007 // The newly-formed Argo Group International Holdings, Ltd. announced the completion of its merger between Argonaut Group, Inc. and a wholly owned subsidiary of PXRE Group, Ltd. concluding the deal made earlier this year (See...
Evans Joins White Mountains as Executive VP-Global Reinsurance
Aug 7 2007 // Bermuda-based White Mountains Re Ltd. announced that Dwight Evans has joined the organization as Executive Vice President – Global Reinsurance, subject to the approval of Bermuda’s immigration authorities. He...
San Antonio’s SWBC Launches Reinsurance Company in Bermuda
Jul 23 2007 // San Antonio-based Southwest Business Corporation (SWBC) has formed a Bermuda reinsurance company, SWBC RE Ltd., the company announced. SWBC said the impetus for creating the reinsurance company stems from SWBC’s...
News Currents
Jul 23 2007 // Bermuda shorted as more U.S. captives form onshore, Aon reports Bermuda’s reign as the undisputed global leader among captive domiciles is being challenged by U.S. companies that are increasingly leaning toward...
Business Moves
Jul 2 2007 // Lancashire Insurance Co. Lancashire Insurance Co. Ltd. gained approval to provide insurance coverage on an excess and surplus basis for properties located in South Carolina. Lancashire intends to focus primarily on coastal...
Bermuda Shorted as More U.S. Captives Form Onshore, Aon Reports
Jun 27 2007 // Bermuda’s reign as the undisputed global leader among captive domiciles is being challenged by U.S. companies that are increasingly leaning toward onshore domiciles for their captive insurance companies. That is...
Guagliano Named Max Bermuda President, CEO
Jun 21 2007 // W. Marston (Marty) Becker, Chairman and CEO of the Bermuda-based Max Capital Group Ltd., announced that Angelo M. Guagliano, most recently Executive Vice President and Chief Underwriting Officer of Max Capital’s...
S&P Affirms Bermuda Insurers Ratings after ‘Hybrid Securities’ Review
Jun 20 2007 // Standard & Poor’s Ratings Services announced that it has “affirmed its ‘BBB+’ preferred stock rating on PartnerRe Ltd.; its ‘BBB’ preferred stock ratings on ACE Ltd. and...
S&P Examines Reinsurance M&A
Jun 20 2007 // Among other industry topics Standard & Poor’s Ratings Services’ 2007 Insurance Conference, “In Pursuit of Sustainable Earnings,” held June 3-5 in New York City, discussed possible...
