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Reinsurer Montpelier Re yesterday reported profit of $210.9 million for 2013. And the firm recorded year-end total capital of more than $2 billion and total shareholders’ equity in excess of $1.6 billion. President and CEO Christopher Harris said: “T...

Allied World Assurance Company yesterday announced profits of nearly $418 million for 2013 — down more than $75 million on the previous year. The 2013 results earnings broke down to $11.95 per diluted share, compared to $13.30 per diluted share the y...

Lower than expected catastrophe losses helped boost share value for Bermuda-based Platinum last year, the firm reported yesterday. The firm had a net income of $223.3 million and diluted earnings per common share of $7.35 for 2013. Platinum CEO Micha...

A private insurer has started selling flood insurance policies in Florida, signalling new opportunities ahead for Bermuda catastrophe reinsurers. Homeowners Choice Property & Casualty Insurance Company became the first admitted carrier in Florida to ...

Insurance firm Ace could be on the hook for up to $30 million related to the pre-Christmas hacking scandal at one of the America’s biggest retailers, according to US reports. Business Insurance — quoting unnamed sources — said Ace, which is based in ...

Major reinsurers may be facing credit rating downgrades after an industry watchdog warned the business had “nowhere to hide” from mounting competition. The grim news — the worst outlook for eight years — came from ratings agency Standard & Poor’s (S&...

The number of new insurance companies registered in Bermuda last year jumped by nearly three quarters compared to 2012. A total of 91 companies set up shop in the Island in 2013 — a 72 percent increase on the 53 registers the year before — and the Is...