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Bermuda-based Montpelier Re Holdings Ltd’s profits dropped almost $50 million during the second quarter as the company suffered $39 million of catastrophe losses from the tornadoes in the US in April and May. The re/insurer reported net income of $21...

US Representative Richard Neal looks set to be has been thwarted once again in his efforts to stop foreign insurance companies from moving premiums paid by their US customers offshore to places such as Bermuda after Congress left tax code changes out...

The selection criteria for jurisdictions, their specialities and pros and cons was the focus for the opening session of the 10th Insurance Linked Securities Summit held at the Fairmont Southampton yesterday. The first panel discussion of the day with...

Bermuda-based run-off specialist Enstar Group announced that one of its wholly-owned subsidiaries has completed the previously announced acquisition of Clarendon National Insurance Company from an affiliate of Hannover Re. This was the largest in a s...

Seven new insurers were formed in June, bringing the total for the year to 27, according to the latest figures released by the Bermuda Monetary Authority (BMA). Class 1 insurance company Telluride Insurance Ltd was set up by Marsh IAS Management Serv...

Everest Re Group Ltd has announced it expects to make net catastrophe losses of $80 million for the second quarter. This estimate is based on an effective tax rate of 20 percent. “Despite these losses, we expect to have an underwriting profit in the...

LONDON (Bloomberg) Novae Group Plc, a Lloyd’s of London insurer, said it has withdrawn from merger talks with Bermuda-based rival Omega Insurance Holdings Ltd without giving a reason for the decision. “It is unlikely a transaction can be structured a...