2353 results returned for search: "" category "Other" author Jonathan Kent
Bermuda-based insurer XL Capital Ltd. last night announced it had raised $2.875 billion in capital and closed the $1.9 billion deal that will eliminate almost all of its exposure to bond insurer Syncora Holdings Ltd. (formerly known as Security Capit...
DATE: Aug 06, 2008
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Other
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AUTHOR:
Jonathan Kent
Butterfield Bank yesterday announced a loss of $16.5 million for the second quarter, resulting from combined losses totalling $50 million on a write-down in the value of mortgage-backed investments and support of its Money Markets Fund.
Butterfield c...
DATE: Aug 06, 2008
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AUTHOR:
Jonathan Kent
Rising food prices have provided a boost in the midst of a soft market for those Bermuda insurers and reinsurers who offer agricultural insurance.
One such company is PartnerRe, whose chief executive officer Patrick Thiele said that while rates acros...
DATE: Aug 05, 2008
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AUTHOR:
Jonathan Kent
Bermuda-based Aspen Insurance Holdings Ltd. reported a 10.6-percent rise in net income for the second quarter, aided by low catastrophe losses.
The insurer and reinsurer said on Wednesday evening that net earnings for the quarter totalled $126.9 mill...
DATE: Aug 04, 2008
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AUTHOR:
Jonathan Kent
XL Capital Ltd. chief executive officer Michael McGavick has shown his confidence in his company bouncing back from its recent hard times by spending $2 million of his own money on the Bermuda-based insurer's shares.
A regulatory filing on Thursday s...
DATE: Aug 04, 2008
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Other
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AUTHOR:
Jonathan Kent
Forty-seven employees face losing their jobs at XL Capital Ltd.'s Bermuda headquarters, as the company aims to trim its operating costs in difficult insurance market conditions.
XL's chief executive officer Michael McGavick told The Royal Gazette tha...
DATE: Aug 02, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
There was no word from XL Capital Ltd. yesterday on how many jobs will be lost at the company's global headquarters as the company tries to slash operating costs.
On Monday evening, the global commercial insurer, which has 77 offices in 27 countries,...
DATE: Jul 30, 2008
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AUTHOR:
Jonathan Kent
Credit ratings agencies gave a less than enthusiastic welcome to XL Capital Ltd.'s plan to extricate itself from potential future costs relating to affiliate Security Capital Assurance Ltd. (SCA).
Both Moody's Investors Service and AM Best put the co...
DATE: Jul 30, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda-based RenaissanceRe Holdings Ltd. yesterday reported net earnings of $135.7 million for the second quarter, down 26 percent on the same period of last year.
Low catastrophe losses enabled the company to record a combined ratio of 53.5 percent...
DATE: Jul 30, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda-based Ram Holdings Ltd. yesterday said its bond reinsurance unit Ram Re paid out $94.4 million to cut its exposure to mortgage-linked bonds.
The payment allowed the company to rid itself of exposure to a $3.5 billion portfolio with XL Financi...
DATE: Jul 30, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
