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Insurance

International Business

"Diamond puts on reception for Equitable Life of Canada executives"

The demise of British American Insurance Company has resulted in a number of other companies picking up its business. One such company is Diamond Company Ltd, which is run by Anthony Francis, and is the sole representative for the Equitable Life Insu...
Jan 10, 2012
Reinsurance

"Big Bermuda contingent expected at WCF"

A big number of Bermuda’s re/insurance executives are expected to be in attendance at the 21st annual World Captive Forum conference held in Miami at the end of this month. The event, which will be hosted at the city’s Doral Gold Resort & Spa from Ja...
Jan 10, 2012
Reinsurance

"Third Point Re assigned FSR of A-"

Third Point Reinsurance Ltd has been assigned a financial strength rating of A- (excellent) and issuer credit rating of “a-” by AM Best Co. The outlook assigned to both ratings is stable. Best said that the ratings of Third Point Re were based on its...
Jan 10, 2012
Other

"Prioritising your life to be extraordinarily productive"

In today’s ever increasingly busy and stressed business environment people need to prioritise what is important to them in order to be even more productive than before. That is the message from Martha Kirkwood, director of Effective Leadership Bermud...
Jan 09, 2012
Reinsurance

"Sirius acquires Old Lyme runoff portfolio"

Sirius International Insurance Group Ltd, a wholly-owned subsidiary of White Mountains Insurance Group Ltd, has through a subsidiary acquired the runoff loss reserve portfolio of Bermuda-based Old Lyme Insurance Company Ltd. Old Lyme has been in runo...
Jan 09, 2012
Reinsurance

"Catlin partners with risk managers"

Bermuda-based Catlin Group Ltd has announces that it has formed a partnership with two specialist risk management consultancies that will enhance the services it offers to clients with hijack, kidnap, extortion and wrongful detention exposures. The p...
Jan 06, 2012
Reinsurance

"XL gets approval for Brazil operation"

XL Group plc and its subsidiaries have announced that the XL Group of companies has received final approval from the Brazilian re/insurance regulator Superintendencia de Seguros Privados (SUSEP) to set up an insurance operation in the country. XL Seg...
Jan 06, 2012
Reinsurance

"Reinsurance prices subdued despite 2011 disaster record"

NEW YORK (Bloomberg) Reinsurance brokers say the most expensive year for natural disasters didn’t drive coverage prices higher across the industry when policies were renewed on January 1. Reinsurers’ strong capital base meant only insurance policies ...
Jan 06, 2012
Reinsurance

"Golden State Re notes approved by BSX"

Golden State Re Ltd’s principal at-risk variable rate note programme has been approved by the Bermuda Stock Exchange’s (BSX) listing committee. The programme, which consists of $200,000,000 Series 2011-1 Class A principal-at-risk variable rate notes ...
Jan 04, 2012
Reinsurance

"Cohen’s SAC buys 5.2% stake in Validus"

Billionaire hedge fund executive Steven Cohen is dipping his toe even further into the reinsurance market with the purchase of a 5.2 percent stake in Bermuda-based Validus Re. The stock purchase by Mr Cohen’s SAC Capital Advisors’ is a passive invest...
Dec 29, 2011
Reinsurance

"Bermuda-based Aurigen Re sponsors $120m Credit Agircole deal"

Bermuda-based Aurigen Reinsurance Ltd has sponsored Credit Agricole Securities (USA) Inc’s placement of CA$120 million of notes issued by Vecta I Ltd the first securitisation of Canadian life insurance embedded value. The deal also covered a closed b...
Dec 29, 2011
Reinsurance

OIL’s A- rating affirmed by S&P

Oil Insurance Ltd (OIL) announced yesterday that its insurer financial strength rating of A- “strong” has been affirmed by Standard & Poor’s Ratings Services with a stable outlook. The insurer financial strength rating on OIL was based on its strong ...
Dec 23, 2011
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