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Everest Re Group Ltd has announced the promotion of Dominic Addesso to the role of president. Mr Addesso joined Everest two years ago as executive vice-president and chief financial officer. Prior to his employment with the company, he was president ...

Bermuda-based re/insurer Catlin Group Ltd will open a new office in Madrid next month. Catlin will underwrite treaty reinsurance, with effect from July 1, through the new base in the Spanish capital which will be part of the operations of the group’s...

XL Group plc has named Peter Porrino as its new chief financial officer and executive vice-president. Mr Porrino, who has more than 30 years of experience working in and advising the insurance industry, will join the company in late August and report...

Bermuda-based fund services provider Butterfield Fulcrum has announced that it has established a presence on the west coast of the US to be led by Brian Young. Based in the Pacific northwest, Mr Young, a director of business development, will be res...

Allied World Assurance Company last night announced that it had agreed to merge with US reinsurer Transatlantic Holdings. The boards of both companies have voted unanimously in favour of the deal, which will create a global insurer and reinsurer to b...

Bermuda reinsurer PartnerRe Ltd is selling 13 million preferred shares to raise $325 million. The company, which made a net loss of more than $800 million in the first quarter after dealing with catastrophe losses of more than $1 billion, said there ...

Standard & Poor’s Ratings Services has upgraded the financial strength rating of Allied World Assurance Company to A from A-. The Switzerland-based re/insurer, which redomiciled from Bermuda last year, “continues to outperform its peer group”, S&P s...

Bermuda could pick up a significant amount of business from Canadian companies looking to form new captives but there is not expected to be a mass exodus of existing companies from its main competitor Barbados. That is the view of Jason Carne, partne...