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The stock prices of Bermuda-based catastrophe reinsurers gained ground yesterday even as Tropical Storm Ernesto drew a bead of southern Florida.
RenaissanceRe led the way, closing up 2.61 percent at $49.95 while White Mountains jumped 1.79 percent to...
DATE: Aug 30, 2006
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NEW YORK ? As Tropical Storm Ernesto heads towards Florida?s Southeast coast, property casualty insurers and reinsurers in the state are in better shape to handle the losses than they were last year, even if a big storm hits a major city there.
Ernes...
DATE: Aug 30, 2006
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The Royal Gazette/Bermuda Stock Exchange Index rose 13.2 points to close at 4.926.70 in near-moribund trading yesterday.
Just two stocks traded, with 1,870 shares worth $88,422.50 changing hands.
Butterfield Bank was the Index?s driver, rising 25 cen...
DATE: Aug 30, 2006
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Some Bermuda reinsurers have been accused of underestimating their likely losses from a major hurricane by a prominent insurance analyst.
MarketWatch reported yesterday that research by Cliff Gallant, an analyst at Keefe, Bruyette & Woods, showed tha...
DATE: Aug 29, 2006
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Bermuda-based Bacardi Ltd. has lost out in a bid to buy the Mexican distiller of two leading tequila brands.
US distiller Brown-Forman Corp. said yesterday it had agreed to buy Casa Herradura, the maker of premium tequila bands Herradura and El Jimad...
DATE: Aug 29, 2006
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KeyTech shares jumped 50 cents to $16 as the telecommunications group, which has rejected a $17 a share bid by Cable & Wireless, saw 50,123 shares trade.
The trade pushed The Royal Gazette/Bermuda Stock Exchange Index up 5.9 points in otherwise quiet...
DATE: Aug 29, 2006
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The Bermuda subsidiary of a Canadian electric utility holdings company has bought the main power company in the Turks and Caicos Islands.
Fortis Inc. said yesterday that through its Fortis Energy (Bermuda) Ltd. unit it had bought all of the outstandi...
DATE: Aug 29, 2006
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Bermuda-based insurers' stocks improved yesterday as fears that Hurricane Ernesto would strike the US Gulf Coast receded.
Ernesto, which struck southern Cuba yesterday, was downgraded to a Tropical Storm, but is expected to brush by the southern tip ...
DATE: Aug 29, 2006
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(Bloomberg) ? The worldwide reinsurance industry will expand faster than the global economy as demand for insurance grows in emerging markets such as China, India and Brazil, said Inga Beale, chief executive of Converium Holding AG.
These countries s...
DATE: Aug 28, 2006
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NEW YORK (Reuters) ? Hurricane Katrina, which last year dashed hopes that the insurance industry could post an underwriting profit, may nonetheless have sown the seeds of recovery for one part of the industry: reinsurers.
Katrina, together with later...
DATE: Aug 28, 2006
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