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AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Bermuda-based Stellar Insurance Ltd, an indirect wholly-owned subsidiary of Saudi Arabian Oil Company. The outlook of the...

Bermuda-based insurer Enstar Group Limited has reported a consolidated net loss of $196 million for the third quarter of 2021 and consolidated net earnings of $364.6 million for the first nine months of the year. Those figures compare to consolidated...

SiriusPoint Ltd, the Bermuda-headquartered global specialty re/insurer, has reported a net loss of $48 million for the third quarter of 2021. The company reported a combined ratio of 152 per cent and a net underwriting loss of $266 million. SiriusPoi...

Executive lounges in the LF Wade International Airport’s departures area have officially opened, Bermuda Skyport announced. TAV Operation Services Ltd and Graycliff Divans Bermuda Ltd have formed a joint venture – TAV-GD Operation Services Ltd – to o...

A newly formed business dedicated to insurance fronting, Concert Group Holdings, Inc, has completed its targeted capital raise and received a rating of “A-” (excellent) from AM Best. Concert has secured $100 million in capital to fund its growth as a...

Bermuda-based Arch Capital Group Ltd and its investment partners Warburg Pincus and Kelso & Company have announced that Watford Holdings Ltd and Watford Re Ltd have been renamed Somers Group Holdings Ltd and Somers Re Ltd. Liz Cunningham has been app...

American fintech company AlphaPoint has announced its membership in the Bermuda Monetary Authority’s Innovation Hub. The innovation track was established by the BMA to operate as a platform for exchanging ideas and information around the digital tran...

Bermuda-based Axis Capital Holdings Limited has launched a new policy designed to encourage diversity in their business suppliers. Axis is working to ensure the engagement of certified diverse business enterprises in their procurement process. Albert...

Bermuda-based James River Group Holdings Ltd has reported a third quarter 2021 net loss of $23.9 million. That compares to net income of $26.3 million for the third quarter of 2020. Adjusted net operating loss for the third quarter was $26.8 million,...

AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to Bermuda-based 777 Re Ltd. The outlook assigned to these credit ratings is stable. The ratings reflect 777 Re’s balance shee...