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A controversial experiment to provide Caribbean Hotel Association (CHA) member properties with less volatile rates for catastrophe cover has failed. Bermuda-based CHA Insurance Co. Ltd. (CHAIC) said yesterday it had thrown in the towel because Caribb...

ACE Ltd. aims to increase its share of capacity on its managed syndicates to more than 50 percent in the short term and not by 50 percent as was reported in Monday's Business section. Bermuda-based insurer, ACE Ltd., has substantially increased the c...

Bermuda-based reinsurer, Mid Ocean Ltd., has declared net income of $245 million for the year to October 31, a 16 percent increase over the year before. The results were announced amid stated concern from the company's chief executive that some compa...

acquisition of Bermuda-based Sphere Drake. The closing caused Standard & Poor's (S&P) to raise the claims paying ability and counterparty credit ratings on Sphere Drake Insurance Plc and Sphere Drake Insurance (Bermuda) Ltd. to single-`A'-minus from ...

administrative jobs. Staff were given details yesterday of the consolidation of Cox & Wilkinson (C&W) and Hallett, Whitney & Patton (HW&P) into one firm to be called Cox Hallett & Wilkinson (CH&W). The six staff being made redundant were informed yes...

Insurance Company, is being wound up and joint liquidators have been appointed. Malcolm Butterfield of KPMG Peat Marwick (Bermuda) and Peter Beirne of KPMG Peat Marwick (UK) have been appointed joint liquidators of Anglo American Insurance Co. (Bermu...

Bermuda captured four percent of the global reinsurance premium, the 1997 edition of Standard & Poor's Global Reinsurance Highlights has reported. The report stated that the countries increasing market share during the two years through 1996 were Swi...

training and education for the insurance and reinsurance community, is considering the installation of a satellite dish to beam in further courses and programmes. BII Director of training and education, Peter Doyles, said, "We are looking at the poss...

The global broking and captive manager merger of Marsh & McLennan and Johnson & Higgins (J&H) has gone well, a key executive here has said. But the combined firm still needs to take legal and tax advice to determine how to make one legal entity out o...

Stung by sweeping criticism against her office, the Massachusetts Commissioner of Insurance, Linda Ruthardt, has issued a strongly worded response to a report from the House Post Audit & Oversight Bureau (HPA&O) of the state Legislature ( The Royal G...