Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Fitch Affirms Imagine Insurance ‘A’ Ratings: Outlook Raised to Positive
Sep 13 2004 // Fitch Ratings announced that it has affirmed the “A” insurer financial strength rating of the Barbados/Bermuda-based Imagine Insurance Company Limited. The rating outlook has also been raised from stable to...
ACE Financial Solutions Names Swayne Exec. VP
Sep 1 2004 // ACE Financial Solutions International (ACE FSI), one of the ACE Group of Companies, announced the appointment of Guy Swayne to the new post of Executive Vice President. Swayne will be based in Bermuda and will be...
Best Assigns ‘A-‘ Rating to Aetna (Bermuda) Ltd.
Aug 30 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to Aetna Life and Casualty (Bermuda) Ltd. (AL&C) with a stable outlook. “The rating reflects...
Rego and Hnat Take New Positions at XL Capital
Jul 19 2004 // XL Capital Ltd., based in Hamilton, Bermuda, announced that Michael E. Rego and Frederick B. Hnat were appointed to new positions within its Financial Products and Services Operations. Rego was named executive vice...
Assurex Global Re Forms Cell for Risk Management Needs for Construction Clients
Jul 14 2004 // Assurex Global Reinsurance Ltd., a captive insurance company formed by Assurex Global Partners, LLC announced the formation of a specific cell to provide critically needed risk management and insurance needs to...
The New Insurers: This Time, They’ll Do It The Right Way
Jul 5 2004 // ‘Clean Slate’ U.S. P/C Insurers Learn from Sins of Their Predecessors In the summer of 2001, the hard cycle had already arrived for the U.S. property/casualty marketplace. Prices were trending up as experts...
Fitch Issues Cautious Note on New Bermuda Insurers
Jun 30 2004 // Fitch Ratings has issued a report on the new Bermuda Insurers (companies formed after Sept.11), which asks the rhetorical question that although they may “shine in the sun, can they handle rain? The report, The...
ACE Limited Appoints Ringsted Chief Actuary
Jun 4 2004 // Bermuda’s ACE Limited announced the appointment of Sean Ringsted as Chief Actuary for the ACE Group of Companies, effective immediately, subject to the approval from the Bermuda Department of Labour and...
ACE USA Appoints Cook as VP- ACE Captive Solutions
May 6 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the appointment of Lawrence Cook as Vice President, ACE Captive Solutions. “ACE Captive Solutions is a centralized unit that...
Fass to Head New White Mountains Reinsurance Group
Apr 20 2004 // Bermuda-based White Mountains Insurance Group, Ltd. announced the formation of White Mountains Re Group, Ltd., a Bermuda-based holding company, and the appointment of Steven Fass as its President and CEO. White Mountains...
Best Affirms Catlin, Syndicate 2003 ‘A’ Ratings
Apr 8 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Bermuda-based Catlin Insurance Company Ltd. (CICL) (Bermuda) and its Syndicate Rating of Lloyd’s Syndicate...
Arch Names Ingrey Vice Chairman, Promotes Execs.
Apr 7 2004 // Bermuda-based Arch Capital Group Ltd. announced that Paul Ingrey, Chairman and CEO of reinsurance operations, has been appointed Vice Chairman of the Company through October 2007. “Mr. Ingrey came out of retirement...
ACE USA Names McGeehan Prof. Risk Sr. VP-Marketing
Mar 30 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the appointment of Vince McGeehan as Senior Vice President-Marketing for ACE USA Professional Risk. The division provides...
Best Downgrades Bermuda’s Centre Solutions Rating
Mar 15 2004 // A.M. Best Co. announced that it has downgraded the financial strength rating to “B+” (Very Good) from “A-” (Excellent) of Centre Solutions (Bermuda) Ltd. and its operating subsidiaries. Best also...
Jurgen Grupe, Henry Smith Named to AXIS Board
Mar 15 2004 // Bermuda-based AXIS Capital Holdings Limited announced that its Board of Directors has nominated Jurgen Grupe, former chairman of AON – Reinsurance Europe, and Henry Smith, former CEO of The Bank of Bermuda Limited,...
Best Assigns ‘A-‘ Rating to Steamship Mutual (London)
Feb 20 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to the London-based company of the Steamship Mutual Underwriting Association Limited, with a negative...
Best Assigns ‘A-‘ Rating to Quanta U.S. Operations
Jan 29 2004 // A.M. Best Co. announced that it has assigned initial financial strength ratings of “A-” (Excellent) to Quanta Specialty Lines Insurance Company of Indianapolis, Ind. and Quanta Indemnity Company of Denver,...
XL Announces Reinsurance Appointments; New CEO for Insurance Operations
Jan 23 2004 // Bermuda’s XL Capital, Ltd announced a series of senior management appointments yesterday affecting both XL Re Ltd, its reinsurance division, and the company’s insurance operations, following the retirment of...
XL Completes Audit; Expects $694 Million Pre-Tax Charge for 2003
Jan 14 2004 // Bermuda’s XL Capital Ltd. has completed its reserve review, begun last October, and confirmed that it will take some substantial charges, affecting both fourth quarter and annual results. It plans to raise at least...
Moody’s Issues Report on Bermuda
Jan 13 2004 // Moody’s Investors Service has issued its annual report on Bermuda, discussing the island’s Aa1 foreign currency country ceilings, Aaa domestic currency rating, and stable outlook, which the rating agency...
