49296 results returned for search: "" category ("Other" AND "Business")
Two Bermuda reinsurers expect to write down their fourth-quarter results by a combined quarter of a billion dollars, after they announced last night that their stakes in a bond reinsurer had become worthless.
RenaissanceRe will take a $181.7 million ...
DATE: Jan 17, 2008
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American International Group Inc. (AIG) has become the latest company to terminate a Bermuda-based sidecar, a trend brought about largely by the lack of catastrophes in the past two years.
AIG's $730 million Bermuda-based sidecar Concord Re was set u...
DATE: Jan 17, 2008
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AUTHOR:
Jonathan Kent
TALLAHASSEE, Florida (Reuters) - Florida's insurance commissioner said yesterday he suspended Allstate Cos from writing new policies in the state because it had not fully complied with a subpoena to testify about its property insurance business.
"We'...
DATE: Jan 17, 2008
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TORONTO (Reuters) - The Toronto Stock Exchange's main index closed at its lowest level in five months yesterday, extending the previous day's heavy losses, as resource shares tumbled alongside commodity prices.
The S&P/TSX composite index closed down...
DATE: Jan 17, 2008
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CHICAGO (Reuters) - AMR Corp, parent of American Airlines, yesterday posted a smaller-than-expected fourth-quarter loss, but it showed airlines' continuing vulnerability to high fuel costs.
The company said its fuel bill jumped by 29 percent in the q...
DATE: Jan 17, 2008
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New Castle Reinsurance Co. Ltd. (Bermuda) has been affirmed the financial strength rating (FSR) of A- (excellent) and the issuer credit rating (ICR) of a- by AM Best.
Concurrently, the ratings agency has affirmed the ICR of bbb- of New Castle Reinsur...
DATE: Jan 17, 2008
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Bermuda is fast becoming the place for Latin American companies to set up their reinsurance and captive insurance businesses.
That is the view of Eduardo Fox, manager of corporate and Latin American Affairs at Bermuda-based global law firm Appleby, w...
DATE: Jan 17, 2008
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Could Miles Market be planning to open a second store at the East End of the Island?
The upscale supermarket's owners, brothers Will and Richard Cox, have applied to incorporate a new company called Miles East Ltd., giving rise to speculation that th...
DATE: Jan 17, 2008
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NEW YORK (Bloomberg) — Ambac Financial Group Inc. ousted its chief executive officer, slashed the dividend 67 percent and will raise more than $1 billion to preserve its AAA credit rating after announcing the biggest-ever write-downs by a bond insure...
DATE: Jan 17, 2008
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DETROIT (AP) — Fisker Automotive and Visionary Vehicles are two companies planning to bring luxurious plug-in sedans to market, proving that green doesn't have to come in an economical package.
"If I say 'electric,' people think 'slow'. They think el...
DATE: Jan 17, 2008
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