1681 results returned for search: "" category "Business" author Jonathan Kent
Around 40 people will lose their jobs as the result of Endurance Specialty Holdings’ takeover of Montpelier Reinsurance, according to one source who claimed to have knowledge of the matter.
The source, who said she was a relative of one of those to l...
DATE: Aug 06, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
PartnerRe has agreed to be bought out by Italian investment firm Exor in a $6.9 billion deal.
The reinsurer has scrapped its previous plan to merge with fellow Bermuda firm Axis Capital.
Exor, which is controlled by the wealthy Agnelli family, will p...
DATE: Aug 04, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Endurance will keep on nearly half of the worldwide staff of its new acquisition Montpelier Reinsurance, The Royal Gazette has learned.
The deal closed on Endurance’s takeover of its fellow Bermuda-based insurer and reinsurer last Friday.
Montpelier ...
DATE: Aug 04, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Validus Holdings Ltd took a $48 million hit from claims related to an oil rig explosion that left four people dead, the Bermuda reinsurer revealed last night.
The platform, which was owned by Mexican state-run oil company Pemex, burst into flames in ...
DATE: Jul 29, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Global insurance and reinsurance broker Marsh & McLennan Cos (MMC) is looking for ways to trim its tax bill.
In a conference call yesterday, Dan Glaser, the New York-based company’s chief executive officer, said: “The search for tax efficiency for us...
DATE: Jul 29, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Bermuda-based insurer and reinsurer Hiscox saw half-year pre-tax profits rise by 8.4 per cent, fuelled by strong growth in its retail insurance business.
Hiscox reported earnings of £135.1 million ($210.4 million) for the January-through-June period,...
DATE: Jul 28, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
PartnerRe last night reported a net loss of $103.1 million as a fall in the value of its investments took its toll.
The Bermuda reinsurer said operating earnings were $112.5 million, or $2.35 per share, but these were offset by realised and unrealise...
DATE: Jul 28, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
A Bermuda insurance industry body has written to the US Treasury urging it not to penalise long-established reinsurers as part of its efforts to clamp down on what the US sees as hedge funds masquerading as reinsurance companies to lower their tax bi...
DATE: Jul 27, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
The ‘merger mania’ that has swept through the Bermuda insurance market is unlikely to let up any time soon, according to a special report by AM Best.
The New Jersey-based credit rating agency argues that more takeovers are likely, driven by soft mark...
DATE: Jul 22, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Bermuda CableVision is to merge with Logic Communications Ltd.
The news was announced today by telecommunications group KeyTech Ltd, Logic’s parent company, after it secured ownership of 100 per cent of CableVision’s shares.
The CableVision name will...
DATE: Jul 16, 2015
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CATEGORY:
Local Business
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AUTHOR:
Jonathan Kent
