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Financial and business service

Reinsurance

"Montpelier-backed reinsurance fund deploys $57m"

The reinsurance fund launched by Bermuda-based reinsurer Montpelier Re has deployed $57 million of the capital raised at its share issue, the company said yesterday. Investors put $100.1 million into the new reinsurance venture, called Blue Capital G...
Jan 16, 2013
Reinsurance

"Everest Re launches sidecar with target of $250m capacity"

Another Bermuda reinsurer is venturing into the third-party capital asset management arena by launching a sidecar reinsurance vehicle. Everest Re has launched Mt Logan Re, a Bermuda domiciled vehicle aimed at attracting investor capital and putting i...
Jan 15, 2013
International Business

"Apex lands new $1b UK client"

Bermuda-based Apex Fund Services has landed a new $1 billion client hard on the heels of gaining regulatory approvals from the UK. Yesterday Apex announced that WAY Fund Managers, the UK provider of fund hosting services to the wealth management sect...
Jan 15, 2013
Reinsurance

"Ace and XL sued by pharmaceutical giant"

A court case that got under way this week could have implications for reinsurers around the world. The case is AstraZeneca Insurance Company (the pharmaceutical giant’s captive insurance company) versus XL Insurance (Bermuda) and Ace Bermuda Insuran...
Jan 15, 2013
Reinsurance

"SAC expects withdrawals of a least $1 billion, WSJ reports"

Hedge-fund group SAC Capital Advisors has told employees and business partners that it expects investors to withdraw at least $1 billion from the firm amid the US government’s insider-trading investigation, the Wall Street Journal has reported, citin...
Jan 14, 2013
International Business

"Apex’s rapid expansion boosted by the Madoff effect"

Stricter regulation has led Bermuda’s Apex Fund Services to be known as “the fastest expanding hedge fund administration outfit in a post-Madoff financial world”. When it comes to generating business, Madoff “has been the hedge administrator’s very b...
Jan 14, 2013
Opinion Writer

"A good education: ‘Opportunity to invest in you always there’"

Bermuda needs an educated workforce. And it’s that time again for many students on the island. They are struggling with those interminable university application forms with the excruciating wait to see if they’ve been accepted at the right school. I...
Jan 12, 2013
Personal Finance

"2013 is set to be an interesting year"

China and the US are recovering, Europe is stabilised and Japan’s new government aims to take control of the Japanese economy from the Bank of Japan, setting off what could be a new boom; at least in Japan and perhaps Asia and just maybe the world. M...
Jan 12, 2013
Reinsurance

"Allied World takes stake in Crescent Capital"

Allied World Assurance Company Holdings AG, the reinsurer whose co-founders include American International Group (AIG) and Chubb Corp, said it took a minority stake in Crescent Capital Group LP, the investment manager that focuses on junk-rated debt....
Jan 11, 2013
Reinsurance

"‘Perfect global storm’ developing warns World Economic Forum"

A major systemic financial failure. Extreme weather patterns. A water supply crisis. Food shortages. Weapons of mass destruction. Stark income disparity. Cyber attacks. Those are just a few of the major risks to the global economy this year, accordin...
Jan 10, 2013
Reinsurance

"Asian insurers show strong premium growth"

AM Best has come out with its annual ranking of the world’s largest insurers. The rating agency looked at the largest companies — ranking them both by assets and by premiums written and found different factors affecting both lists. None of the compan...
Jan 09, 2013
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