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"Reinsurers, Republicans divided on climate change"

Severe weather catastrophes are surging, and payouts to the tune of billions of dollars inspired the Reinsurance Association of America to urge Congress to have federal agencies consider climate risk in project reviews, and offer tax incentives to he...
Aug 13, 2013
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"Enstar reports consolidated net earnings of $19.2 million"

Enstar Group Limited filed its quarterly report on Form 10-Q with the SEC earlier today, reporting its earnings and financial position for the three and six months ended June 30, 2013. In a release announcing the results, Enstar reported consolidated...
Aug 12, 2013
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"Aurigen outlook is ‘stable’"

Ratings agency A.M. Best Co. announced it has assigned a financial strength rating (FSR) of A- (Excellent) and an issuer credit rating (ICR) of ‘a-’ to Aurigen Reinsurance Company of America (ARCA) — whose parent company owns a Bermuda reinsurer as w...
Aug 12, 2013
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"Tower Group postpones release of financial results"

In a development Tower Group International, Ltd.’s president and chief executive officer Michael Lee said made them “disappointed”. the company announced this week that it is postponing the release of its financial results for the second quarter of 2...
Aug 12, 2013
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"RenRe may repurchase common stock up to $500 million"

RenaissanceRe Holdings Ltd. announced this afternoon an increase in authorisation to $500 million in its share repurchase programme, and a quarterly dividend of $0.28 per common share on its common stock. A press release stated the dividend is payabl...
Aug 12, 2013
Other

"Fairfax increases its offer to buy American Safety"

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...
Aug 12, 2013
Other

"Lancashire agrees acquisition of Lloyd’s insurer"

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...
Aug 09, 2013
Other

"HSBC confirms a reduction in roles"

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...
Aug 09, 2013
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"Michael Harden named CEO of Willis Re Bermuda"

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...
Aug 09, 2013
Other

"BFIS interns celebrate ‘fantastic’ learning experience"

The programme includes time spent in Bermuda reinsurance companies and the support industries such as law and banking. Students also travelled overseas to experience working in insurance in other jurisdictions A spokesman said: “The message that came...
Aug 07, 2013
Other

"September issue date planned for $50 million in Bermuda bonds"

The Bermuda Government’s bond issue expected to raise 50 million Bermuda dollars will take place in September. Finance Minister Bob Richards said: “(It means) the average Bermudian can invest in a Bermuda dollar bond.” Mr Richards said he would pref...
Aug 06, 2013
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