Bermuda-based Allied World Assurance Holdings, Ltd. announced that the company has been granted a license to operate in Ireland and has commenced business with the opening of a new office in Dublin. The bulletin explained that Dublin will serve as …
Germany’s newly reelected government has reportedly asked the European Commission (EC) for permission to extend emergency terrorist risk coverage to the country’s airlines until the end of the year. The EC announced last August, when it granted a further extension …
One of Bermuda’s newest insurers, Platinum Underwriters Holdings Ltd., finally succeeded in bringing its long delayed initial public share offering to market, with an opening price of $23.50 per share for the 30.04 million it’s selling, which will raise $675.9 …
inreon, the Internet-based reinsurance trading platform, established by Swiss Re and Munich Re, announced that it has received certification for its implementation of data standards for facultative reinsurance placement from ACORD, the New York-based industry standards body. This enables members …
Fitch Ratings announced that it will maintain its ‘A+’ insurer financial strength (IFS) rating of SCOR Group, and the ‘A’ Long-term and the ‘F1’ Short-term ratings of SCOR, but will keep the group on “Rating Watch Negative.” The bulletin noted …
The Swiss-based Converium Group, the world’s 8th largest reinsurer, reported a pre-tax operating loss of $71.2 million for the three months ended September 30, compared to a pre-tax operating loss of $344.7 million for the same period in 2001. It …
Bermuda-based Trenwick Group announced that its subsidiary, Trenwick America Reinsurance Corp., has entered into an underwriting facility with Chubb Re, Inc., a subsidiary of The Chubb Corporation. Trenwick also said that it was undertaking a review of its reserves for …
Emergency Workers in Southern England and Northwest France were busy Monday morning cleaning up the debris and beginning infrastructure repairs after the passage of a powerful windstorm over the weekend blew down power lines, toppled trees, tore the roofs off …
AXIS Specialty Limited, one of the largest of Bermuda’s new insurers, announced that it produced $92.1 million in net income for the third quarter and $153.8 million for the nine months ended September 30. The company, established late last year …
Swiss Re announced that it has issued a new “Focus” report at the Baden-Baden reinsurance meetings urging the world’s reinsurers to “get-back-to-basics” in their approach to natural catastrophe underwriting as they begin the 2003 renewal season. The report, “Cat reinsurance …
