2353 results returned for search: "" category "Other" author Jonathan Kent
An international company is suing the Bank of Bermuda for $262,000 — the sum which it claims the bank, by failing to make basic checks, allowed fraudsters to withdraw from its account — plus damages.
Goran Management Ltd., a Bermuda-based insurance p...
DATE: Dec 23, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
XL Capital Ltd. chief executive officer Michael McGavick said yesterday that the insurer's business retention rates are in line with previous years — after three ratings agencies last week downgraded the company, partly over concerns over potential l...
DATE: Dec 23, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
XL Capital Ltd. suffered its third downgrade in a week on Friday, when Moody's cut the company's senior debt rating to Baa2 from Baa1.
The ratings agency also downgraded the Bermuda-based business insurer's insurance financial strength rating to A2 f...
DATE: Dec 22, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Shareholders of Bermuda Stock Exchange-listed Fabian Romania Ltd. got an early Christmas present on Friday with the news of a buyout offer at almost double that morning's share price.
Fabian, formed in April 2005 to build up assets in Romanian proper...
DATE: Dec 22, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Master investor Warren Buffett may be lining up a bid for Bermuda-based insurer XL Capital, according to a rumour circulating on Wall Street yesterday.
American Mr. Buffett, 78, named last year by Forbes magazine as the world's richest man, has a per...
DATE: Dec 19, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Potential tax revenue that leaves the US as a result of the much-discussed Bermuda insurance "loophole" amounts to less than $200 million a year, according to a Citigroup analyst.
And in years when major catastrophes spark enormous insurance claims, ...
DATE: Dec 18, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
XL Capital Ltd.'s financial strength rating was yesterday downgraded to A from A+ by Fitch Ratings, on concerns over the company's invesment portfolio.
It is the second downgrade for the Bermuda-based business insurer since it gave guidance last week...
DATE: Dec 18, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda-based reinsurer New Castle Re's A- rating from AM Best has been placed under review as its hedge fund operator owner Citadel deals with redemption requests and dwindling assets.
Chicago-based Citadel has already closed down one Bermuda reinsu...
DATE: Dec 17, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
XL Capital shares soared 27 percent yesterday as the company announced that rating agency AM Best is to maintain its A (excellent) rating on the Bermuda-based insurer's operating companies.
The stock, which rose 78 cents to close on $3.68, recovered ...
DATE: Dec 17, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda-based XL Capital Ltd. expressed disappointment last night after the financial strength rating of the insurer's core operating companies was downgraded to A from A+ by Standard & Poor's.
In a statement released after the markets closed yesterd...
DATE: Dec 16, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
