Bermuda- based Montpelier Re Holdings Ltd.(MRH) reported net income of $26.5 million, or $0.50 diluted earnings per share, for the third quarter of 2002, and net income of $78.3 million, or $1.49 diluted earnings per share, for the nine months …
Bermuda’s RenaissanceRe apparently has a larger stake in Platinum Underwriters than was originally announced, around 14.2 percent rather than the 9.9 percent stated in recent articles (See IJ Website Oct. 29 and Nov. 5) According to a report from Dow …
Lord Peter Levene of Portsoken was unanimously confirmed today by the Council of Lloyds as the 61st Chairman of Lloyd’s, and the first one from outside the London market in its 314 year history. He was selected last June to …
A.M. Best Co. announced that it has assigned an initial financial strength rating of ‘A ‘(Excellent) to the reinsurance subsidiaries of Bermuda-based Platinum Underwriters Holdings Ltd., the company formed by the St. Paul to spin-off its reinsurance operations, which went …
In a sudden, but not totally unexpected, move France’s SCOR Group announced that Denis Kessler would replace Jacques Blondeau as Chairman and CEO. The change follows a profit warning that SCOR expects a 250 million Euro ($246 million) loss for …
Bermuda-based Trenwick Group Ltd. announced that it has concluded an agreement with National Indemnity Company, a member of Warren Buffet’s Berkshire Hathaway group, to provide Trenwick’s Lloyd’s Syndicate 839 with £100 million ($156 million) for the 2003 year of account. …
Chinese regulators have given the green light to three more foreign companies to set up operations in the country. Licenses have been approved for the U.S. Liberty Mutual, the U.K.’s Standard Life, and a company identified as a Japanese Property …
Bob Mendelsohn’s departure in September as CEO of the U.K.’s Royal & Sun Alliance doesn’t seem to have helped the company very much. Last week it took another hit from asbestos claims with the filing of a lawsuit by Turner …
Toronto-based Kingsway Financial Services Inc., a leading provider of non-standard auto insurance in Canada and the U.S., announced that it is very much in favor of recently introduced legislation to reform the Ontario auto insurance system. The proposals, by Ontario …
In a series of announcements Bermuda-based Max Re Capital Ltd. gave details of a number of recent decisions by its Board of Directors and changes in Board members. The company announced the retirement of Peter J. Rackley, Chairman and Group …
