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Bermuda holding company American Safety Insurance Holdings, Ltd. this week announced that Fairfax Financial Holdings Limited has increased its offer to purchase American Safety to $30.25 per share from the previously announced $29.25 per share A pre...

Lancashire Holdings Limited has announced agreements to acquire for £266 m Cathedral Capital Limited, a privately owned Lloyd’s insurer, along with loan notes issued by Cathedral’s subsidiary Cathedral Capital (Investments) Limited. “The transaction...

Some fund administration and custody service provision will cease at HSBC Bermuda, it was confirmed this morning. An HSBC Bermuda spokesperson stated: “Following a strategic review of the HSBC Securities Services business in Bermuda and after careful...

The chairman of Willis Re Australia Michael Harden has been appointed chief executive officer of Willis Re Bermuda in a move that the reinsurer describes as “an important leadership change.” A Willis spokesman said that Mr Harden has extensive experi...

Third Point Reinsurance Ltd, which counts hedge-fund manager Daniel Loeb as a founding shareholder, said it plans to raise as much as $322.2 million in an initial public offering. The reinsurer, almost all of whose assets are managed by Loeb’s Third ...

The two trillion dollar insurer Oil Insurance Limited announced today that four new oil companies are joining the organisation. A press release stated: “Oil Insurance Limited (OIL) today, July 30th 2013, announced the signing of four new energy compa...

A.M. Best Co. has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of S.A.C. Re, Ltd. (SAC Re) under review with negative implications. The announcement was made in a press release from A.M. Best this afternoon,...

AXIS Capital Holdings Limited stated today that reported net income available to common shareholders for the second quarter of 2013 was $72 million, or $0.62 per diluted common share, compared with $168 million, or $1.35 per diluted common share, for...