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Shares of insurance broker Willis Group Holdings Plc plunged 10.7 percent in New York trading yesterday, after fourth quarter profits fell by more than half from last year. Revenue declined and the third-largest broker, behind Aon and Marsh, missed a...

US President Barack Obama yesterday repeated a proposal that would increase the amount of US tax paid by some Bermuda reinsurers. The plan to “disallow the deduction for excess non-taxed reinsurance premiums paid to affiliates” appears as a revenue-r...

Bermuda-based CatCo has survived a baptism of fire during its catastrophe-heavy first year to give positive returns to investors and quadruple its capital base. CEO Tony Belisle said in the CatCo Reinsurance Opportunities Fund’s annual report, which ...

Bermuda-based Montpelier Re Holdings reported a $124 million net loss for 2011, driven by this year’s catastrophe events. In the fourth quarter, the company saw a $40 million hit from the Thailand floods and $26 million from other catastrophe events ...

Bermuda-based Everest Re reported a net loss of $80.5 million for the year, driven by catastrophe losses. The loss compares to net income of $610.8 million in 2010. Everest Re recorded $41 million net income for the fourth quarter of last year, compa...

Platinum Underwriters Holdings Ltd sustained a net loss of $224.1 million for 2011 in a year when the company was hit hard by catastrophe claims. The company managed to scrape net income of $7.1 million in the fourth quarter, a result impacted by $55...

The California Earthquake Authority's Bermuda-listed catastrophe bond has raised another $150 million. The Listing Committee of the Bermuda Stock Exchange (BSX) has approved the listing of the second issuance from Embarcadero Re. The capital will pro...

A delegation from Bermuda will fly out to western Canada next week to try to drum up some captive insurance business for the Island. The group, which includes rival insurance managers working together to promote the Island as a domicile, will hold br...

BERN, Switzerland (Bloomberg) Axa SA, Europe’s second-biggest insurer, said total issuance of bonds designed to protect insurers from the risk of paying out on natural disasters could increase by 30 percent to $6 billion this year. “More new sponsors...