Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
Moody’s Affirms Everest Re Group Ratings
Jan 8 2004 // Moody’s Investors Service announced that it has assigned prospective ratings to the $975 million universal shelf registration of Everest Re Group, Ltd. (Everest Re Group) — prospective senior unsecured debt at...
Best Comments on Bermuda Insurance/Reinsurance Market
Dec 16 2003 // A.M. Best has issued a report commenting on the Bermuda insurance and reinsurance market. It notes that the 15 largest companies based on the island generated $28.6 billion in net premiums written and underwriting income...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Best Upgrades Through Transport Mutual, Subsidiaries Ratings
Dec 12 2003 // A.M. Best Co. announced that it has upgraded the financial strength rating to B++ (Very Good) from B+ (Very Good) of Bermuda-based Through Transport Mutual Insurance Association Limited (TT Bermuda) and assigned a stable...
XL Announces 2004 Earnings Estimates
Dec 4 2003 // Brian M. O’Hara, President and CEO of Bermuda’s XL Capital Ltd., speaking at the Bermuda Angle Conference yesterday, announced that the company estimated 2004 earnings would be between $9.05 to $9.25 per...
The Reinsurance World 2003 – Capacity, Profitability and ‘The Cycle’
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
The Reinsurance World 2003 – Capacity, Profitability and ‘The Cycle’
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
S&P Affirms Hannover Re Bermuda ‘AA-‘ Ratings
Oct 30 2003 // Standard & Poor’s Ratings Services announced that it has affirmed the ‘AA-‘ counterparty credit and financial strength ratings on property/casualty insurer Hannover Re (Bermuda) Ltd. (HRB), with a...
Assurex Global Forms Captive Reinsurer
Oct 22 2003 // Assurex Global, the Columbus, Ohio-based risk management and commercial insurance brokerage group, announced the formation of Assurex Global Reinsurance, Ltd., a captive insurance company, located in Bermuda, which it has...
BSX Gives Nod to Secondary Listing of Common Shares of White Mountains Insurance Group Ltd.
Oct 9 2003 // The Listing Committee of the Bermuda Stock Exchange announced the approval of the listing of up to 12,246,680 Common Shares of White Mountains Insurance Group, Ltd. White Mountains was originally formed as a Delaware...
Talks On-Going on New Bermuda Reinsurance Company
Oct 6 2003 // MBIA Inc., RenaissanceRe Holdings Ltd., Koch Financial Corporation and PartnerRe Ltd. announced that they are in discussions regarding the formation of a new Bermuda-based financial guaranty reinsurance company. The...
ACE Bermuda Promotes Chris Fisher to Senior VP
Oct 2 2003 // ACE Bermuda Insurance Ltd. announced the promotion of Chris Fisher to the position of senior vice president in its property department. He takes on responsibility for the management of ACE Bermuda’s global property...
XL Announces Three Executive Appointments
Sep 30 2003 // Bermuda’s XL Capital has announced three appointments in its insurance operations. Don Baker, Hans Gmuender and Dennis Nishikawa have been named to new executive broker and client relations positions. “The new...
ACE Announces Top Executive Appointments for Global Units
Sep 26 2003 // ACE Limited President and COO Evan Greenberg announced that, effective January 1, 2004, Mark Herman has been appointed as President, ACE Global Professional Lines and Andrew Kendrick has been appointed as President and CEO...
S&P Places Centre Solutions, Bermuda, Ratings on Watch Negative
Sep 17 2003 // Standard & Poor’s has placed its ratings on Centre Solutions (Bermuda) Ltd. and related operating companies (collectively referred to as Centre) on CreditWatch with negative implications because of concerns that...
PartnerRe Weathers Hurricane Fabian
Sep 15 2003 // Bermuda-based PartnerRe Ltd. has issued a bulletin giving details on the impact of Hurricane Fabian, a Category 3 storm which hit the island on Friday, Sept. 5, 2003, with winds in excess of 140 mph (225 kmh), causing an...
Bermuda Assures the World It’s Open for Business
Sep 12 2003 // Authorities in Bermuda have issued a bulletin assuring the rest of the world that the island’s insurance and financial enterprises remain open for business, despite extensive damages caused by the passage of...
RMS Reconnaissance Team Preparing to Assess Damage in Bermuda
Sep 9 2003 // California-based Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, was preparing to send a reconnaissance team to Bermuda to assess the damage caused by Hurricane...
Four Missing as Fabian Slams Bermuda-Strongest Hurricane in 50 Years
Sep 8 2003 // Hurricane Fabian, a monster of a storm, packing winds of 120 mph (192 kph), slammed full force into Bermuda on Friday night, uprooting trees, downing power lines and causing extensive structural damage. Four people were...
