Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Bermuda Insurers Receive Subpoenas
Apr 11 2005 // Two of Bermuda’s leading reinsurance companies – RenaissanceRe Holdings Ltd. and PartnerRe Ltd. – have acknowledged that they have received subpoenas from both the U.S. Securities and Exchange Commission...
Insurance Accounting Probe Spreads; Munich Re Questioned; Bermuda Opens Investigation
Apr 7 2005 // The accounting investigation swirling around AIG has now spread out across the ocean to reach Bermuda and Germany, as authorities questioned Munich Re about its relations ships with AIG and Island regulatorsd launched...
AIG Halts Removal of Documents in Bermuda; CEO Sullivan Sends Letter to Shareholders
Apr 3 2005 // American International Group has reiterated its intention to cooperate with all investigations and acknowledged it had to stop efforts to remove documents from its Bermuda building, in a letter to shareholders. “AIG...
Best Places Platinum’s Ratings Under Review, Downgrades Credit, Debt Ratings; Company Comments
Apr 1 2005 // A.M. Best Co. announced that it has placed the financial strength rating of “A” (Excellent) of the reinsurance subsidiaries of Bermuda-based Platinum Underwriters Holdings, Ltd. under review with negative...
Carvill Report Indicates “Bermuda High” is Crucial Hurricane Factor
Mar 29 2005 // The ReAdvisory group of Carvill, a leading specialty reinsurance intermediary, has released a white paper, which concludes that the location of the “Bermuda High” pressure system is crucial in determining...
S&P Affirms Mutual Steamship (Bermuda) ‘A’ Rating
Feb 2 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “A” long-term counterparty credit and insurer financial strength ratings on Bermuda-based insurer The United Kingdom Mutual Steam...
Best Assigns Rating for Lloyd’s Syndicate 1225
Jan 27 2005 // A.M. Best Co. has assigned a Best’s Syndicate Rating of A (Excellent) and an issuer credit rating (ICR) of “a” to Lloyd’s Syndicate 1225 (United Kingdom), which is managed by AEGIS Managing Agency...
Best Affirms Rating for The Steamship Mutual Underwriting Association; Outlook Stable
Jan 6 2005 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of The Steamship Mutual Underwriting Association Ltd (Steamship London) (London, England). The outlook has been changed to stable from negative, in...
Best Affirms Members of Quanta Capital Ratings
Dec 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Bermuda-based Quanta Reinsurance Ltd. (Quanta Re) and its three strategic pooled subsidiaries: Quanta...
Endurance Announces Management Changes
Dec 7 2004 // Bermuda-based Endurance Specialty Holdings Ltd. announced two key management changes. Effective immediately, Thomas D. Bell has been named Executive Vice President of Endurance Specialty Holdings Ltd., and David S. Cash...
S&P Affirms Steamship P&I Bermuda & Subs ‘A’ Ratings
Nov 29 2004 // In a separate bulletin Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit and insurer financial strength ratings on The Standard Steamship Owners’...
ACE Announces Executive Changes in Europe, Bermuda
Nov 16 2004 // Bermuda’s ACE Limited has announced several executive appointments, as follows: — Andrew Kendrick, currently president and CEO of ACE Bermuda, has been named chairman and CEO of ACE European Group. —...
Everest Re Appoints Jackson as U.K. General Manager
Nov 12 2004 // Bermuda-based Everest Reinsurance Ltd., a wholly owned subsidiary of Everest Re Group Ltd., announced the appointment of Tom Jackson as General Manager of its U.K.branch in London. “This operation writes treaty...
Sovereign Risk Completes $200 Million Capital Markets Transaction in Turkey
Oct 19 2004 // Sovereign Risk Insurance Ltd. has announced the issuance of an innovative political risk insurance policy assisting Finans Bank A.S., Turkey’s fifth-largest privately owned bank, to raise tier-two capital in the...
Everest Re Group Notes Everest Bermuda Changes
Oct 14 2004 // Everest Re Group Ltd. announced the following executive changes at its wholly owned subsidiary, Everest Reinsurance (Bermuda) Ltd. (“Everest Bermuda”). Mark de Saram, presently CEO of Everest Bermuda’s UK...
Endurance Estimates Hurricane Claims at $115 Million
Oct 5 2004 // Bermuda-based Endurance Specialty Holdings Ltd. reported that estimated aggregate potential claims from hurricanes Charley, Frances, Ivan, and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, is...
Aspen Announces Plans to Expand and Diversify; Best Comments
Oct 1 2004 // Aspen Insurance Holdings Limited announced from its Bermuda headquarters the next stages in the development of its corporate strategy as it expands its business in Bermuda and further diversifies its operations. “In...
Endurance Names Patschak New Head of Property Catastrophe Reinsurance Business
Sep 22 2004 // Bermuda-based Endurance Specialty Holdings Ltd. announced that Susan J. Patschak has joined Endurance Specialty Insurance, Ltd. as the head of its Property Catastrophe Reinsurance business unit. She joins Endurance with...
Max Re Establishes Property Underwriting Capability
Sep 16 2004 // Bermuda-based Max Re Capital Ltd. announced that its subsidiary, Max Re Ltd., has increased its product offerings by the formation of a dedicated property division. The department will provide insurance and reinsurance...
Best Reports on Bermuda Insurers
Sep 14 2004 // A.M. Best Co. has issued a report on Bermuda’s insurance and reinsurance industry, timed to coincide with the Reinsurance Rendezvous, currently being held in Monte Carlo. Best reported that in the “first six...
