Maiden Holdings Ltd. is named in a class action investor lawsuit alleging that it failed to adequately address and reveal portfolio risks involving AmTrust Financial Services, its largest customer. The complaint alleges that Maiden didn’t disclose material information, and the …
Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit warnings. Below are statements from insurers and reinsurers in …
At first glance, Bermudian re/insurance companies appeared to start the year with a bang, reporting a 21 percent increase in consolidated gross premiums written (GPW), according to a new report published by Standard & Poor’s. However, that picture is slightly …
Bermuda-based Brit Insurance and Maiden Holdings, Ltd. have announced a temporary 100 percent quota share reinsurance of Maiden’s Excess and Surplus (E&S) unit, Maiden Specialty, with Brit Global Specialty. The bulletin said the “arrangement will shortly evolve into Brit assuming …
Bermuda and London-based insurer Lancashire Holdings Limited has estimated that the “net impact on its fourth quarter financial results from Sandy is likely to be in a range of between $40 million and $60 million.” As other companies have indicated, …
A.M. Best Co. has downgraded has the financial strength rating (FSR) to ‘B+’ (Good) from ‘B++’ (Good) and the issuer credit rating to “bbb-” (Good) from “bbb” (Good) of China Taiping Insurance (NZ) Company Limited (CTPNZ). The outlook for both …
Q3 2011 Q3 2010 Gross premiums written $451.13 mn $289.82 mn 9 months – 2011 2010 $1.3843 bn $951.98 mn Net premiums earned —- $420.277 mn $309.593 mn 9 months – 2011 2010 $1.1346 bn $857.30 mn Net income ——————– …
