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Ace Ltd last night estimated losses of between $200 million to $250 million from the Japanese earthquake.
The insurer also announced preliminary losses for the first quarter for the Ace Group of companies from natural catastrophes, including the New ...
DATE: Mar 16, 2011
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CATEGORY:
Reinsurance
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Losses for Bermuda and US re/insurers from last week’s Japanese earthquake will come in at $25 billion or less, according to a report released yesterday by Deutsche Bank.
“The Bermudan reinsurance market, which tends to specialise in property catast...
DATE: Mar 16, 2011
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CATEGORY:
Reinsurance
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Bermuda-based reinsurer Maiden Holdings Ltd said yesterday that it anticipates minimal, if any, losses related to last week’s earthquake and tsunami in Japan, or from this year’s flooding in Australia or last month’s earthquake in New Zealand.
Maiden...
DATE: Mar 16, 2011
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CATEGORY:
Reinsurance
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NEW YORK (Reuters) - Billionaire Warren Buffett’s Berkshire Hathaway Inc struck a deal to buy lubricant maker Lubrizol Corp for $9 billion in a bet on industrial growth in emerging economies.
The deal is Berkshire’s biggest since it bought Burlington...
DATE: Mar 15, 2011
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CATEGORY:
International Business
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NEW YORK (Reuters) - Shares of US insurers fell yesterday after analysts estimated the Japanese earthquake could cost the industry nearly $35 billion, making it one of the most expensive disasters ever.
Shares of American International Group, the lar...
DATE: Mar 15, 2011
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CATEGORY:
Reinsurance
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Butterfield Bank fell 2.98 percent (four cents) on The Bermuda Stock Exchange (BSX) yesterday.
The bank traded 500 shares to close at $1.30.
BF&M Ltd, however, rose 0.69 percent (13 cents) to finish the day at $14.73 with 678 shares changing hands.
O...
DATE: Mar 15, 2011
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CATEGORY:
Bermuda Stock Exchange
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Bermuda-based Aspen Insurance Holdings Ltd has appointed Kerry Calaiaro as senior vice-president, investor relations with immediate effect.
Ms Calaiaro will be based in New York and will report to Aspen chief executive officer Chris O’Kane.
“This a...
DATE: Mar 15, 2011
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CATEGORY:
Reinsurance
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NEW YORK (Reuters) - A disgraced former McKinsey & Co partner testified that hedge fund manager Raj Rajaratnam paid him a $1 million “bonus” for tipping him about an acquisition by chip-maker Advanced Micro Devices Inc, a client of the consulting fir...
DATE: Mar 15, 2011
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CATEGORY:
International Business
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Bermuda insurers and reinsurers were hit with $3.6 billion in catastrophe losses from worldwide disasters in 2010, according to the National Underwriter (NU) magazine.
But the impact was dramatically softened by favourable prior-year loss development...
DATE: Mar 15, 2011
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CATEGORY:
Reinsurance
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A Bermuda law firm has doubled in size following its launch last year.
Limestone Law Ltd, which was set up by Bermudian Simon Payne in January 2010, has appointed Gabrielle Stewart as a legal consultant and in her new role she will head the litigatio...
DATE: Mar 15, 2011
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CATEGORY:
Other
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