runoff News

Hamilton Insurance Places Lloyd’s Syndicate Acappella Into Runoff

Hamilton Insurance Group Ltd. said it is placing Acappella Syndicate 2014 into runoff. Acappella is a third-party capital supported Lloyd’s syndicate included in Hamilton’s acquisition in August of Liberty Mutual’s Pembroke Managing Agency Limited (now Hamilton Insurance UK Limited). Acappella …

UBS Hedge Fund to Manage Money for Bermuda Reinsurer Launched by Enstar

UBS O’Connor LLC, the $6 billion hedge-fund unit within Switzerland’s biggest bank, will manage money for a new Bermuda-based reinsurance company formed by insurer Enstar Group Ltd. Aligned Re Ltd. is expected to be funded by third-party capital along with …

Snowpack In California, Colorado Being Measured by NASA

The snowpack atop mountain peaks in California and Colorado has a new set of eyes watching from high above to better gauge the amount of water that will rumble down rivers and streams each spring as runoff. In a new …

Catalina Acquires Runoff Vehicle KX Re from Tawa

Catalina Holdings (Bermuda) Ltd has announced that it has signed a definitive Share Purchase Agreement to acquire 100 percent of the shares in KX Reinsurance Company Limited, including KX Re’s wholly owned subsidiary OX Reinsurance Company Limited, from Tawa plc. …

Catalina Holdings Acquiring Two Insurance Operations from HSBC

Catalina Holdings (Bermuda) Ltd. announced that it has signed a definitive agreement to acquire two legacy businesses, HSBC Reinsurance Limited and HSBC Insurance (Ireland) Limited from HSBC Holdings plc, “subject only to regulatory approval from the Central Bank of Ireland. …

Best Downgrades Brit Insurance Ltd. Ratings; Keeps on Review/Negative

A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of UK-based Brit Insurance Limited (BIL), and has kept the …

Fairfax Runoff Sub RiverStone to Acquire All Shares of Brit Insurance Ltd.

The Netherlands-based Brit Group and Canada’s Fairfax Financial Holdings Limited have announced that RiverStone, Fairfax’ runoff subsidiary, has entered into an agreement with Brit to purchase all of the outstanding shares of UK-based Brit Insurance Limited (BIL), which wrote UK …

Catalina Holdings Names Kauer CFO/COO of Glacier Re in Runoff

Catalina Holdings (Bermuda) Ltd has appointed Martin Kauer to the joint roles of Chief Financial Officer and Chief Operating Officer (CFO/COO) of Glacier Re, its Swiss-based reinsurance company in run-off, which it acquired this year. Kauer has more than 25 …