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Montpelier Re Holdings Ltd’s enterprise risk management (ERM) rating has been upgraded to “strong” by ratings agency Standard & Poor’s. The Bermuda reinsurer’s A- financial strength and counterparty credit ratings were also affirmed. In raising the c...

Catalina Holdings (Bermuda) Ltd has announced that its wholly-owned subsidiary, Catalina Echo Ltd, signed a definitive merger agreement on August 22, 2011 to acquire Residential Loss Control Holdings, LLC (RLCH). Catalina specialises in offering “fin...

ZURICH (Bloomberg) Zurich Financial Services AG, Baloise Holding AG and other Swiss insurers will compensate for slowing growth in their home market by making acquisitions, according to Fitch Ratings. Low interest rates and slowing economic growth ar...

NEW YORK (Bloomberg) Warren Buffett may have earned $1.4 billion in one day on his $5 billion investment in Bank of America Corp. The preferred shares Buffett’s Berkshire Hathaway Inc. bought are worth about $3.53 billion, Phil Jacoby, chief investme...

Hardy Underwriting Bermuda Ltd yesterday announced a half-year post-tax loss of $17.1 million (about $28 million) after claims poured in from what the company described as “the most extraordinary run of catastrophe losses that the market has ever see...

Bermuda-based life reinsurer Scottish Re Group Ltd yesterday announced the completion of its merger with a newly formed subsidiary of its controlling shareholders. SRGL Acquisition, LDC an affiliate of private-equity group Cerberus Capital Management...