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Financial and business service

Reinsurance

"PartnerRe posts $807m loss "

Bermuda reinsurer PartnerRe last night reported a first-quarter net loss of $807 million after it was hit by more than $1 billion in catastrophe losses in the first three months of the year. Earthquakes in New Zealand and Japan, as well as flooding a...
May 03, 2011
Other

"Four reinsurers report $1.1b combined loss"

Four companies from the Bermuda re/insurance market tonight announced combined first-quarter net losses of more than $1.1 billion, as catastrophe losses took a heavy toll. PartnerRe reported a net loss of $807 million, as the company was hit by catas...
May 02, 2011
Bermuda Stock Exchange

"BNTB climbs 2.2%"

Butterfield Bank rose 2.2 percent (three cents) on The Bermuda Stock Exchange (BSX) yesterday. The bank traded 43,800 shares to close at $1.39. Overall the Index climbed 14.35 points (1.21 percent) to 1,201.13 with 43,800 shares worth BD$60,474 and 8...
Apr 28, 2011
Reinsurance

"US insurance rates keep falling"

The billions of dollars of global insurance and reinsurance capital wiped out by claims in a first quarter of devastating catastrophes has not stalled the continuing decline in US insurance rates. That is the finding of the RIMS Benchmark Survey, whi...
Apr 28, 2011
Reinsurance

"IDC to host inaugural RIMS Bermuda Market Breakfast"

The Bermuda Market Breakfast will be a new feature of the Risk and Insurance Managers’ Society (RIMS) annual conference this year. The biggest insurance industry conference of the year will be held in Vancouver next week and a strong delegation from ...
Apr 28, 2011
Reinsurance

"Everest posts $316m loss"

Bermuda-based reinsurer Everest Re Group Ltd reported a first-quarter net loss of $315.9 million, as catastrophe claims took a heavy toll on the company. The loss, which broke down to $5.81 per share compared to a net loss of $22.7 million, or $0.38 ...
Apr 28, 2011
Reinsurance

"Quake claims drive Montpelier to $104m loss"

Montpelier Re Holdings Ltd suffered a net loss of $104.3 million as its catatrosphe losses rose to $200 million for the first quarter of 2011. This compared to a $9.9 million profit for the same period last year. The re/insurer’s book value per share...
Apr 28, 2011
Other

"Aspen reports $151.7m loss "

Aspen Insurance Holdings Ltd this morning announced a net loss of $151.7 million in a first quarter in which the company shouldered more than a quarter of a billion dollars in catastrophe losses. The Bermuda re/insurer's after-tax earnings were hit b...
Apr 28, 2011
International Business

"Business Bermuda focuses on investment"

Making the most of your investment choices was the focus for Business Bermuda Local Awareness Committee’s last monthly luncheon seminar of the season. The sixth seminar of the series entitled ‘Investing 101: Making the Most of Your Investment Choices...
Apr 27, 2011
Bermuda Stock Exchange

"BNTB rises 2.25%"

Butterfield Bank rose 2.25 percent (three cents) on The Bermuda Stock Exchange (BSX) yesterday. The bank traded 82,312 shares to close at $1.36. LOM (Holdings) Ltd also saw 5,000 shares change hands as it fell 1.58 percent (five cents) to $3.10. The ...
Apr 27, 2011
Reinsurance

"RenRe posts $248m loss on huge quake claims"

RenaissanceRe Holdings Ltd posted a net loss of almost $250 million during the first quarter after taking a combined $427.4 million hit from the New Zealand and Japanese earthquakes and Australian floods. The re/insurer made a net loss of $248 millio...
Apr 27, 2011
Bermuda Stock Exchange

BF&M climbs 5.24%

BF&M Ltd rose 5.24 percent (75 cents) to $15.05 on The Bermuda Stock Exchange (BSX) yesterday. The insurer traded 1,257 shares during the day. Butterfield Bank also climbed 2.3 percent (three cents) to $1.33 as 21,700 shares changed hands. KeyTech Lt...
Apr 26, 2011
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