Latest Bermuda Headlines
All the headlines from our Bermuda Topic Page, ordered by recency.
A.M. Best Assigns ‘A’ Rating to Hannover Re Bermuda
Jul 2 2001 // A.M. Best has assigned an initial rating of ‘A’ (Excellent) to Hannover Re subsidiary, Hannover Re (Bermuda) Ltd. Commenting on the ratings, Best’s announcement said: “The rating reflects the...
Enstar Group To Acquire Reinsurance Units from Marsh Subsidiaries
Jun 29 2001 // The Enstar Group, Inc., based in Montgomery Ala., announced plans, together with Bermuda’s Castlewood Ltd., to acquire two reinsurance companies currently in run-off. They will take over London-based River Thames...
Bermuda Reinsurers Post Strong Q1 Gains
Apr 24 2001 // First quarter results from Bermuda’s RenaissanceRe Holdings and the Everest Re Group confirmed the much anticipated upturn in reinsurance rates. RenRe posted a 21 percent increase in net operating income to $37.3...
Scottish Insurer Plans Bermuda Move
Apr 24 2001 // Scottish Annuity & Life Holdings Ltd. announced that it’s planning on moving “its corporate and international reinsurance operations” to Bermuda” from their present location in the Cayman...
ACE Irish Subsidiary Opens London Office
Apr 20 2001 // Dublin-based insurer ACE European Markets Insurance Ltd. will expand the ACE Group’s activities in the London market with the opening of a new office in the city to be headed by Stephen French, currently the...
XL Moves Into New Headquarters
Apr 17 2001 // Bermuda’s XL Capital Ltd. announced that its new headquarters were ready, and that it was relocating “from Cumberland House to XL House, a purpose-built office facility the Company owns near the center of...
Everest Re Acquires AFC Re
Dec 26 2000 // Everest Reinsurance (Bermuda) Ltd., a subsidiary of the Everest Re Group announced that it has “acquired AFC Re Ltd., a Bermuda based annuity/life reinsurer, from AFC Holdings Ltd. for approximately $17 million in a...
Bermuda Tax Proposals: ‘Closing a Loophole’ or ‘ Pork Barrel Polics”
Dec 11 2000 // The taxation of foreign insurers, reinsurers, captives banks and financial service providers, involves some very complex international issues, heavily charged with “political considerations.” HR 4192, or the...
Consultant Sees Increased Use of Offshore Captives
Dec 7 2000 // Hugh Rosenbaum, a retired consultant with Tillinghast-Towers Perrin, speaking at the 10th Annual World Captive and Alternative Risk Financing Forum, sees recent Bermuda legislation as increasing the use of offshore captive...
OPL Acquires Finite Risks Team
Nov 20 2000 // Continuing its specialized growth strategy, Bermuda based Overseas Partners Ltd.(OPL) announced that it has acquired “a team of finite risk professionals from Stockton Re, Bermuda, a recognized leader in the finite...
Moody’s Issues Report On Bermuda
Nov 15 2000 // Moody’s Investors Service has issued its annual report on on Bermuda, reaffirming its “Aa1 rating for foreign currency country ceiling and its Aaa domestic debt credit rating.” The ratings, said...
Guy Carpenter Opens Bermuda Office
Nov 14 2000 // Guy Carpenter and Company, the reinsurance arm of Marsh Inc. has announced the opening of offices in Bermuda to be headed by Bert Golinski, who “will maintain responsibility for his current US-based and Bermuda...
Imagine Reinsurance Holdings Founded in Bermuda
Oct 24 2000 // Trilon Financial Corp., one of Canada’s leading financial services companies, announced the formation of Imagine Reinsurance Holdings in Bermuda with initial capitalization of $200 million, which it hopes to increase...
Bermuda Energy Investors Back Global Risk Exchange
Aug 17 2000 // Global Risk Exchange (GRX) received a big boost Wednesday with the announcement that two Bermuda based insurance investment vehicles Oil Investment Corporation Ltd. (OICL) and Oil Casualty Investment Corp.,Ltd. (OCICL) had...
Under OECD Pressure Bermuda, Others To End “Tax Haven” Practices
Jun 20 2000 // In an apparent attempt to head off the consequences of a soon to be issued report 6 countries – Bermuda, the Cayman Islands, Cyprus, Malta, Mauritius and San Marino (a tiny enclave within Italy-not the city in...
ACE Bermuda Sets Up New Financial Solutions Group
Jun 10 2000 // ACE Bermuda, a subsidiary of ACE Limited, has announced the formation of a new group, ACE Financial Solutions International (FSI), to provide “non-traditional insurance and finance related solutions to international...
CPCU Goes International
Apr 19 2000 // The Chartered Property Casualty Underwriters Society has officially entered international waters with the induction of the new Bermuda Chapter. The board of governors approved the new chapter at the Society’s winter...
