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"AM Best: Bermuda re/insurance market makes year-to-date loss"

Bermuda market re/insurers tracked by AM Best made a combined net loss during the first three quarters of 2011, a special report by the ratings agency reveals. Huge catastrophe losses drove the composite of 19 companies to a combined loss of around $...
Dec 08, 2011
Local Business

"Have an idea: Then draw it on the wall"

Bermudian entrepreneur Nick Duffy wants to draw all over the traditional idea of boardrooms and classrooms. Starting in August, Mr Duffy started Bermuda IdeaPaint, a company that is the sole distributor of a specialised paint that turns any paintable...
Dec 07, 2011
Reinsurance

"Validus names Brooks as AlphaCat portfolio manager"

Validus Holdings Ltd has announced that Paschal Brooks has joined Validus Managers Ltd as an executive vice-president and the portfolio manager for the AlphaCat funds. Formed in 2008, Validus Managers currently manages more than $400 million in inves...
Dec 06, 2011
Reinsurance

"Haverford Bermuda says Omega bid lapsed"

Haverford Bermuda Ltd says its original bid to buy a 25 percent stake in Bermuda-based insurer Omega Insurance Holdings has lapsed but it is still hopeful of resurrecting the deal within the next three weeks. Omega, however, insists that it sees no r...
Dec 05, 2011
Reinsurance

"Axis hires Van Decker from Catlin"

Axis Capital Holdings Ltd has announced that its Axis Insurance segment has appointed John Van Decker as executive vice-president and head of North American professional lines. In the newly-created position, Mr Van Decker will be responsible for over...
Dec 02, 2011
Reinsurance

"Ace acquires Penn Millers in $107m deal"

Ace Ltd yesterday announced today the completion of its acquisition of Penn Millers Holding Corporation (PMHC) for approximately $107 million in cash. PMHC’s primary insurance subsidiary, Penn Millers Insurance Company, provides specialty property an...
Dec 01, 2011
Other

"DHL appoints Scott to head Bermuda operation"

DHL Express has appointed Bermudian Wayne Scott to its top role in Bermuda. Mr Scott has taken over his new role as general manager from Tim Rivera with the remit to continue to grow the business and to match its global operations. “We have put a lot...
Nov 28, 2011
Reinsurance

"Hiscox ratings affirmed by AM Best"

Hiscox Insurance Company (Bermuda) Ltd, Hiscox Insurance Company Ltd and Hiscox Insurance Company (Guernsey) Ltd have been affirmed the financial strength rating (FSR) of A (excellent) and issuer credit rating (ICR) of “a” by AM Best Europe Rating Se...
Nov 24, 2011
Reinsurance

"Axis outlook revised to positive by AM Best"

The outlook for Bermuda-based Axis Specialty Ltd and its operating affiliates has been revised to positive from stable and they have been affirmed the financial strength rating (FSR) of A (excellent) and issuer credit ratings (ICR) of “a+” by AM Best...
Nov 23, 2011
Other

"Radu named immigration manager at Performance Solutions"

Performance Solutions Ltd has announced the appointment of Ashley Radu as immigration manager. Ms Radu has worked in immigration and human resources for the past five years both in Bermuda and the US. Most recently, she worked in the US as a staffing...
Nov 23, 2011
Reinsurance

"Most major insurers see book value decline"

Most of the major US-listed international insurers in the Bermuda market have seen their book value fall through the first nine months of a year blighted by a hugely most expensive catastrophe activity on record. Of the 16 companies surveyed by The R...
Nov 18, 2011
Reinsurance

"Amlin sees improved rating outlook"

Reinsurer Amlin Plc said their third quarter saw more catastrophe claims activity and difficult investment markets in what the company described as “already the most costly year on record for economic losses”. According to the firm’s interim manageme...
Nov 18, 2011
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