Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Alternative Markets Reach New Levels
Sep 8 2003 // “Client, insure thyself!” Well it hasn’t quite reached that point yet, but the hard market has caused insurance buyers to commence an unprecedented search for affordable risk management solutions. Pushed...
Bermuda Braces for Hurricane Fabian
Sep 5 2003 // The latest advisory bulletin from Miami’s National Hurricane Center warns “powerful hurricane Fabian [is] taking aim at Bermuda,” and a “hurricane warning remains in effect” for the...
Recent Ratings Round-up
Sep 5 2003 // Due to the significant number of ratings announcements released recently, the IJ offers the following summary of actions taken by the rating agencies indicated. More complete information can be obtained directly from the...
Alternative Re Names Gavin Collery President and COO
Aug 29 2003 // Alternative Re Limited, a subsidiary of Arch Capital Group Ltd., announced that as of September 1 Gavin P. Collery will join the company as President and Chief Operating Officer, based in the company’s Bermuda...
Trenwick Files for Chapter 11 Bankruptcy as Part of Restructuring
Aug 21 2003 // Bermuda-based Trenwick Group Ltd. announced that it has filed for protection under chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court of Delaware. The filing also includes its...
Endurance Excess Casualty Hires Shannon Totten, Cotina Forth-Albuoy
Aug 12 2003 // Bermuda-based Endurance Specialty Holdings Ltd. announced that its Bermuda subsidiary, Endurance Specialty Insurance Ltd., has hired two key leaders in excess casualty: Shannon Totten and Cotina Forth-Albuoy. The...
Ace Ltd. Forms New Risk Mgt. International Business Unit
Aug 6 2003 // ACE Limited announced the creation of a new business unit, ACE Risk Management International, in a move to address the developing risk-financing needs of major corporations. Roger Gillett will assume the title of president...
ACE Limited Announces Executive Appointments
Jul 18 2003 // Bermuda-based ACE Limited announced that Jaime Paredes will join the ACE Group of Companies next month as chairman and CEO of ACE Latin America. Klaus Gebhardt, currently executive vice president, Global Property at ACE...
AXIS Announces New Bermuda-based Financial Lines Capability
Jul 8 2003 // AXIS Capital Holdings Limited announced today that as of July 7, it will provide Directors & Officers Liability Insurance and other financial lines coverages through its Bermuda-based subsidiary, AXIS Specialty...
Montpelier Re in $450 Financing Deal with Fleet; To List Shares on Bermuda Exchange
Jul 3 2003 // Bermuda-based Montpelier Reinsurance Ltd. has concluded an arrangement with The Capital Markets division of Fleet Securities, which will provide it with a $450 million secured committed revolving letter of credit facility....
White Mountains Files $2 Billion Shelf Registration Statement
Jun 30 2003 // The Bermuda-based White Mountains Insurance Group, Ltd. announced that it has filed an unallocated universal shelf registration statement with the Securities and Exchange Commission to issue up to $2 billion of equity and...
Dearth Amidst Plenty – Reinsurers Send Mixed Signals
Jun 23 2003 // Is the glass half-full, or half-empty? The classic example of identical facts dictating opposite conclusions, depending on whether you’re an optimist or a pessimist, defines the current picture in the reinsurance...
Arch Bermuda Introduces New Excess Liability Capacity
Jun 17 2003 // Arch Insurance (Bermuda), a division of Arch Reinsurance Ltd., announced that, effective June 30, 2003, they will expand their excess liability capacity from $40 million to $50 million. “This additional capacity will...
Dearth Amidst Plenty – Reinsurers Send Mixed Signals
Jun 9 2003 // Is the glass half-full, or half-empty? The classic example of identical facts dictating opposite conclusions, depending on whether you’re an optimist or a pessimist, defines the current picture in the reinsurance...
A.M. Best Affirms PXRE’s ‘A’ (Excellent) Ratings
May 22 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of ‘A’ (Excellent) for the Bermuda-based PXRE Group Ltd.’s reinsurance subsidiaries, but has maintained its...
Platinum Reports $30.6 Million Net Q1 Earnings; Gregory Morrison to Replace Jerome Fadden as CEO
May 14 2003 // Platinum Underwriters Holdings, Ltd.’s first full quarter of independent operation since its initial public offering last October got off to a good start. The company reported net income of $30.6 million, or $0.71...
XL Announces Global Reinsurance Management Changes
May 13 2003 // Bermuda’s XL Capital Ltd announced that Mr. John Hume will relinquish his role as Chief Financial & Administrative Officer of XL Re Ltd. “to focus entirely on his responsibilities as Chief Financial...
ACE Financial Solutions International Makes Appointments
Apr 21 2003 // Bermuda-based ACE Financial Solutions International, Ltd. announced the promotion of both Mark Lima and Simon Burton to the position of executive vice president. Both Lima and Burton will continue to report directly to...
XL EVP Fiona E. Luck Named APIW 2003 Insurance Woman of the Year
Apr 4 2003 // XL Capital Ltd. announced that Fiona E. Luck, Executive VP of XL’s Group Operations and Assistant Secretary, has been named 2003 Insurance Woman of the Year by the Association of Professional Insurance Women (APIW)....
Arch Insurance (Bermuda) Increases General Property Capacity
Apr 4 2003 // Arch Insurance (Bermuda), a division of Arch Reinsurance Ltd., announced that it has increased its general property net and treaty capacity from $25 million to $50 million. In addition the company indicated that it now has...
