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Arch Capital Group's issuer default rating has been upgraded from 'A-' to 'A' by Fitch Ratings.
The group's reinsurance arm, Arch Reinsurance Ltd., has also had its insurer financial strength rating upgraded from 'A' to 'A+' by the ratings agency. Th...
DATE: Mar 04, 2008
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LONDON (Reuters) - Bermuda-based insurer Hiscox Ltd shrugged off the effects of a weak dollar, floods in Britain and European windstorm claims to make record profits in 2007, it said yesterday.
The London-listed firm made pretax profit of £237.2 mill...
DATE: Mar 04, 2008
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TORONTO (Reuters) - The Toronto Stock Exchange's main index finished lower yesterday as strength in resources was undercut by losses in the banking sector amid nagging worries over the continuing impact of the credit crunch.
The financial group shed ...
DATE: Mar 04, 2008
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NEW YORK (AP) - Wall Street closed narrowly mixed yesterday as investors wrestled with record-high commodities prices and data that pointed to a continually weakening economy.
Investors have been trying to determine whether recent pessimism about the...
DATE: Mar 04, 2008
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NEW YORK (Bloomberg) - MBIA Inc. and Ambac Financial Group Inc., the bond insurers hobbled by $10 billion of writedowns on sub-prime debt last year, said losses continued into 2008.
Ambac marked down the value of derivative contracts linked to sub-pr...
DATE: Mar 04, 2008
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Bermuda has dropped three places in the world rankings for financial centres, according to the latest Global Financial Centres Index released this month.
The Index, which is published by the City of London and written by Z/Yen Group, ranks financial ...
DATE: Mar 04, 2008
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The Reefs Club is not the only residence club offering the benefits of fractional ownership to overseas visitors.
Tucker's Point Club, the Newstead Belmont Hills Gold Resort and Spa, the Horizons and Cottages Resort and the Coral Beach and Tennis Clu...
DATE: Mar 03, 2008
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Challenging times and difficult choices. The prospects for the US economy continue to be a principal focus of attention for investors around the world. And, of course, problems in the financial system, particularly in the United States, are also a so...
DATE: Mar 03, 2008
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NEW YORK (AP) - Bermuda-based Security Capital Assurance Ltd. (SCA) expects to report $1.5 billion in credit costs for the fourth quarter, raising the spectre that the bond insurer is all but finished as a viable company.
The beleaguered bond insurer...
DATE: Mar 03, 2008
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Bermuda Press Holdings Ltd. reported a 17-percent rise in full-year profits in 2007, on the back of a $1.6 million rise in revenue.
The parent company of The Royal Gazette announced on Friday that net income totalled $2.7 million in the 12 months end...
DATE: Mar 03, 2008
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AUTHOR:
Jonathan Kent
