Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Hiscox Lloyd’s Syndicate ‘in Discussions’ on Bermuda Sidecar
Sep 5 2006 // The U.K.’s Hiscox plc announced that its Board of Directors, is “in discussions which could lead to the creation of a new reinsurer, which will only reinsure Hiscox Syndicate 33,” which it manages, and in...
Reinsurers ‘humbled, but most not broken’
Sep 4 2006 // In its recently issued global insurance report A.M. Best Co. concludes that “almost a year after three massive hurricanes — Katrina, Rita and Wilma — the global reinsurance industry is still struggling to...
Seth Appointed New Director ACE European Markets
Aug 30 2006 // ACE Bermuda has appointed Anup Seth as Managing Director of ACE European Markets. He will assume responsibility for the general day-to-day management of ACE’s Dublin-based operation, which was established in 1997 to...
Pettersen Joins Towers Perrin Reinsurance Bermuda Office
Aug 29 2006 // Global services provider Towers Perrin announced that Phillip Pettersen has joined the firm’s Reinsurance business as a Managing Director based in its Bermuda office. He will be responsible for business and brand...
Best Reports on Reinsurers: ‘Humbled, But Most Not Broken’
Aug 18 2006 // In its recently issued global insurance report A.M. Best Co. concludes that “almost a year after three massive hurricanes—Katrina, Rita and Wilma—the global reinsurance industry is still struggling to manage its...
Park Group Announces Promotions in Bermuda, London
Jul 13 2006 // The Park Group recently announced internal appointments and changes to its management structure. According to the Group’s written statement, “these changes bring our best talent to the forefront of our...
News Briefs
Jul 4 2006 // EU Leaders Fiddle While Europe Burns: The crisis in the European Union, provoked when French and Dutch voters rejected the EU Constitution, is being largely ignored by Europe’s leaders. Instead of a bit of...
Hiscox AGM Statement
Jun 21 2006 // The U.K.’s Hiscox plc, a leading specialist insurer, operating in the Lloyd’s market, Bermuda and the U.S. said it “will give the following update at its Annual General Meeting,” scheduled to be...
Catlin’s AGM Statement Details Increased U.S. Presence
Jun 8 2006 // The Bermuda-based Catlin Group Limited issued a general statement following the conclusion of its annual general meeting, held in Bermuda on June 6, which showed a “solid performance by the Catlin Group during the...
Ex-Tyco CEO Kozlowski Seeks Insurance Broker’s Documents
Jun 4 2006 // Former Tyco CEO L. Dennis Kozlowski is asking a court to force a Bermuda insurance broker to hand over documents related to whether an insurer must pay his legal bills of almost $17.8 million (euro14 million). In papers...
Praetorian to Acquire Surplus Lines Insurer Alea North Ammerica
May 26 2006 // Specialty insurer Praetorian Financial Group said it has agreed to acquire Alea North America Specialty Insurance Company (ANASIC), an affiliate of Alea Group Holdings (Bermuda) Ltd of Hamilton, Bermuda. ANASIC is a...
AXIS Global Names Housley President
May 23 2006 // Bermuda’s AXIS Capital has named Richard Housley, currently European Division President of AXIS Insurance, as President of AXIS Global Insurance. He will directly oversee all operating and underwriting activities...
Best Assigns ACE/INA Debt ‘a-‘ Rating
May 11 2006 // A.M. Best Co. announced that it has assigned a rating of “a-” to ACE INA Holdings, Inc.’s $300 million 30-year 6.7 percent senior unsecured notes. The notes are guaranteed by ACE INA Holdings’...
Best Affirms Arch ‘A-‘ Ratings
May 2 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating (FSR) of “A-” (Excellent) for Bermuda-based Arch Reinsurance Ltd. and its reinsured affiliates. Best has also affirmed the issuer...
S&P, Best Comment on IPC Share Sale
Apr 21 2006 // Standard & Poor’s Ratings Services moved quickly to affirm its “A” counterparty credit and financial strength ratings on IPCRe Ltd. and its “A” financial strength rating on IPCRe Europe...
Best Affirms BF&M Limited and Affiliates ‘A’ Rating
Apr 5 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating (FSR) of “A” (Excellent) to Bermuda-based BF&M Limited and its operating affiliates with a stable outlook. “These rating...
Best Affirms Steamship Mutual Underwriting (Bermuda) Rating
Mar 27 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and assigned an issuer credit rating of “a-” to The Steamship Mutual Underwriting Association (Bermuda)...
Montpelier Re Names Harris Chief Underwriting & Risk Officer
Mar 21 2006 // Bermuda-based Montpelier Re Holdings Ltd. announced that Christopher L. Harris has been appointed Chief Underwriting & Risk Officer of the Company and of Montpelier Reinsurance Ltd. with immediate effect, subject to...
Best Affirms FSR for Lloyd’s Syndicate 1225; Outlook is Stable
Mar 6 2006 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of A (Excellent) and issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 1225 (United Kingdom), which is managed by AEGIS Managing Agency...
Best remains negative on U.S., Bermuda reinsurance markets; expects no upgrades in 2006
Mar 6 2006 // Despite some premium gains during the renewal season, A.M. Best remains negative on the U.S. and Bermuda reinsurance markets. The rating agency doesn’t think there will be any rating upgrades or positive rating...
