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Bermuda-based Alterra Capital Holdings Ltd has agreed to merge with US specialty insurer Markel Corp in a deal worth more than $3 billion. Alterra CEO Marty Becker, a veteran of the Bermuda insurance market, is expected to leave the combined company ...

LONDON (Reuters) - Proposed curbs on insurers aimed at preventing a repeat of AIG’s 2008 taxpayer bailout could raise the cost of insurance, making more people dependent on the state, a finance sector lobby group said. “As currently designed, there i...

Fitch Ratings is maintaining its stable outlook for both the commercial and personal lines sectors of the US property and casualty (P&C) insurance industry. Insurers have withstood less favourable underwriting and economic conditions in the past seve...

Investment manager Baillie Gifford has taken a ten percent stake in the Bermuda-based Montpelier Re’s newly-launched Blue Capital Global Reinsurance Fund. The Scottish firm, based in Edinburgh, bought ten million shares worth $1 each in the fund whic...

LONDON (Reuters) - European insurer Zurich is seeking to raise $225 million through the sale of a catastrophe bond to renew its cover for earthquake reinsurance in the United States and Canada. The bond will be sold through Zurich’s Bermuda-based Lak...

Ratings firm AM Best has affirmed the financial strength rating of A++ (Superior) and issuer credit rating of “aa+” of Bermuda-based Tokio Millennium Re (TMR). The outlook for both ratings is stable. TMR is a wholly owned subsidiary of Tokio Marine ...

Analysts with investment bank Keefe, Bruyette & Woods (KBW) expect more of the same for the property and casualty insurance market next year, with a slow firming trend continuing. Insurers are finding it very difficult to achieve double-digit returns...