2353 results returned for search: "" category "Other" author Jonathan Kent
XL Capital’s shares plunged up to 51 percent today after reports that the Bermuda-based insurance giant is seeking a buyer.
A story on the Bloomberg wire said XL had hired New York bank Goldman Sachs to gauge interest from potential buyers, according...
DATE: Dec 10, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda-based insurance giant XL Capital Ltd. announced yesterday that it had received English High Court clearance to merge an Irish unit with a London subsidiary.
The portfolio of business of XL Europe (Dublin) will be transferred to XL Insurance C...
DATE: Dec 10, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda's insurance companies have been finding out how they would fare against their peers in dealing with a worst-case scenario.
Financial regulator the Bermuda Monetary Authority (BMA) has been conducting stress tests of local companies, based on ...
DATE: Dec 09, 2008
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Other
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AUTHOR:
Jonathan Kent
Bermuda reinsurer Flagstone's ratings with AM Best will remain unchanged after investment losses and its acquisition of Lloyd's managing agency Marlborough Underwriting.
Best said yesterday Flagstone would keep its A- (excellent) financial strength r...
DATE: Dec 09, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Growing demand for Atelerie's distinctive lines of women's clothing and designer jewellery have led to the boutique expanding and relocating to Hamilton.
The store, launched six months ago by owner Heather Macdonald-Armour, quickly outgrew the small ...
DATE: Dec 08, 2008
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Other
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AUTHOR:
Jonathan Kent
Financial services regulator the Bermuda Monetary Authority has received the thumbs-up from the entities and professionals it oversees.
In its first external stakeholder survey, the BMA attracted a strongly positive rating, with 75 percent of respond...
DATE: Dec 08, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda-based bond reinsurer Ram Holdings Ltd. received a ratings blow as Moody's downgraded its reinsurance unit Ram Re's insurance financial strength rating to Baa3 from A3.
Moody's said the rating action reflected the expectation of greater losses...
DATE: Dec 08, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Insurer and reinsurer Hiscox said yesterday it would close a Bermuda-based specialist unit that it opened just three months ago, with the loss of two local jobs.
Robert Childs, chief executive officer of the company's Bermuda operations, said Hiscox ...
DATE: Dec 04, 2008
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AUTHOR:
Jonathan Kent
Bermuda-based financial guarantor Ram Holdings Ltd. yesterday announced it had agreed to pay $156.5 million to walk away from its reinsurance of $10.6 billion worth of assets insured by MBIA.
The commutation agreement covers some asset sectors that h...
DATE: Dec 03, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
UK Chancellor of the Exchequer Alistair Darling has asked financial services expert Michael Foot to head the UK review of Bermuda and other UK territories that are financial centres.
The review was announced last week by Mr. Darling, who said the the...
DATE: Dec 03, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
