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LONDON (Bloomberg) Novae Group Plc, a Lloyd’s of London insurer, said it has withdrawn from merger talks with Bermuda-based rival Omega Insurance Holdings Ltd without giving a reason for the decision.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

Ace Insurance, part of the Ace Group of re/insurance companies, has announced the integration of its two operating units in Malaysia, Ace Synergy Insurance Berhad (ASIB) and Jerneh Insurance Berhad (JIB). The consolidation, made possible by Ace’s rec...

NEW YORK (Reuters) - Insurers do not expect interest rates to rise materially in the next year or so, leading them to look for alternatives to improve returns and manage risk, the head of the world’s largest asset manager for insurance companies said...

Bermuda re/insurers Arch Capital Group and Hiscox today announced combined second-quarter catastrophe losses of around $150 million. The losses, which were dominated by the outbreaks of tornadoes in the US in April and May, come hard on the heels of...

Bermuda re/insurer Maiden Holdings Ltd has raised more than $100 million on the capital markets. The company said on Friday that its US holding company, Maiden Holdings North America, Ltd, had closed its offering of $107.5 million aggregate principal...

Bermuda reinsurers are seeing rate rises for property business, according to a report from industry analysts who interviewed a dozen executives on the Island. Mid-year renewals were up between eight percent and 12 percent for midyear renewals of glob...

Validus Holdings Ltd expects to take a hit of $55 million to $75 million from the two severe storm outbreaks that shook the US during April and May 2011, according to initial loss estimates. The storms consisted of flooding, hail, tornadoes and wind ...

Ram Holdings Ltd boosted its profits by $6 million during the first quarter of 2011, up from $1.8 million for the same period last year. Ram’s CEO David Steel said: “Our first quarter net income was largely driven by the continued run off of our info...

AM Best Co has affirmed at A- the financial strength rating of the operating units of Bermuda insurer Ironshore. The ratings agency also affirmed the company’s issuer credit rating of “bbb-” and declared a stable outlook for all ratings. The operatin...