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Insurance

Reinsurance

New $300m cat bond lists on BSX

A new $300 million catastrophe bond has been admitted for listing on the Bermuda Stock Exchange. Bermuda-based special purpose insurer Everglades Re II Ltd has issued the Series 2015-1 notes, which have a due date of May 3, 2018. The issuance will pr...
May 08, 2015
Reinsurance

Exor seeks support from PartnerRe shareholders

PartnerRe Ltd’s board of directors has rejected the buyout bid from Italian investment company Exor and offered a sweetened deal for shareholders to complete its proposed merger with Bermuda rival Axis Capital Holdings Ltd. In a statement released ye...
May 05, 2015
Reinsurance

Buffett downbeat on reinsurance prospects

OMAHA, Nebraska (Bloomberg) — Warren Buffett, the billionaire chairman of Berkshire Hathaway, said he expects a slump in reinsurance results in the coming decade as investors enter the market. “It’s a business whose prospects have turned for the wors...
May 04, 2015
Reinsurance

Faries to receive BII industry leaders award

A leading player in the insurance-linked securities (ILS) market will receive the Bermuda Insurance Institute’s Industry Leader of the year Award later this month. Kathleen Faries, the chief executive officer of Tokio Solution Management Ltd (Tokio S...
May 04, 2015
Reinsurance

Endurance posts $108.4m profit

Endurance Specialty Holdings improved its first quarter profits by $4 million, to hit $108.4 million compared to the same period a year ago. The net income available to common shareholders was $100.3 million, or $2.23 per common share. The company’s ...
May 04, 2015
Reinsurance

Strong start for Argo Group

Profits are up at Argo Group International Holdings, rising $18.6 million year-on-year in the first quarter to $58.8 million. That represents $1.36 per diluted share. “Argo Group’s first quarter results represent an encouraging start to 2015,” said c...
May 04, 2015
Reinsurance

Island hits $163bn in gross written premiums

Insurance and reinsurance companies in Bermuda recorded gross written premiums of $163 billion in 2013, an increase of 35.3 per cent year-on-year. That performance underlines the strength of the Island in the marketplace, according to the Bermuda Mon...
May 04, 2015
Reinsurance

Mayor of New Orleans speaks of Bermuda link

Recollections of Bermuda were shared by the mayor of New Orleans, Mitchell (Mitch) Landrieu, when he met Premier Michael Dunkley. The two men met this week as the Louisiana city hosted the Risk & Insurance Management Society’s (RIMS) annual conferenc...
Apr 30, 2015
Reinsurance

Island’s help for New Orleans recalled at RIMS

The key role Bermuda’s insurance and reinsurance sector played in assisting New Orleans to rebuild and recover after the devastating damage caused by Hurricane Katrina in 2005 was recalled at this week’s RIMS event, held in the Louisiana city. Some 1...
Apr 29, 2015
Reinsurance

Award for Hamilton Insurance executive

A reinsurance chief with close links to Bermuda has won a top award in the US. Barbara Bufkin, executive vice-president for business development at the US arm of Bermuda-based Hamilton Insurance Group, was honoured for her contribution to the advance...
Apr 29, 2015
Reinsurance

XL reports lower profit

Insurance and reinsurance giants XL today posted operating earnings of $194.4 million for the first quarter of the year — more than $44 million down on the same time last year. Earnings per share were 75 cents a share and book value stood at $37.60 a...
Apr 29, 2015
Reinsurance

Bermuda an important hub for Tokio

The new boss of Tokio Millenium Re yesterday said the firm was committed to Bermuda. And Stephan Ruoff, who took over as CEO at the start of the month, said that the Island would continue to play a key part in the firm’s plans. Mr Ruoff said: “Defini...
Apr 28, 2015
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