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Ace Ltd yesterday announced today the completion of its acquisition of Penn Millers Holding Corporation (PMHC) for approximately $107 million in cash. PMHC’s primary insurance subsidiary, Penn Millers Insurance Company, provides specialty property an...

A group of Florida lawmakers have written to an influential Congressional tax-setting committee to oppose a bill that would increase US taxes on some Bermudian reinsurers. The group of nine Representatives from the Sunshine State, all Republicans, sa...

The tens of billions of dollars reinsurers have paid out in claims this year have barely diminished the industry’s capacity, according to a leading broker. David Flandro, global head of business intelligence for reinsurance broker Guy Carpenter & Co,...

Mark Byrne’s investment vehicle Haverford Bermuda Ltd may lower its bid for a 25 percent stake in Bermuda-based re/insurer Omega, Omega said yesterday. The offer is due to expire at 1pm London time (9am Bermuda time) today. “Haverford has communicate...

Life insurance policyholders of the folded British-American Insurance Company (BAICO) will get back at least some of the money they are owed by Christmas. The Official Receiver, Stephen Lowe, announced last night that creditors will be able to pick u...

Maurice (Hank) Greenberg’s company Starr International Co is suing the US Government for $25 billion on the grounds that the US Government takeover of American International Group was unconstitutional. AIG has had a presence in Bermuda for more than ...

Aspen Insurance Holdings Ltd believes that its new offices at 141 Front Street are in keeping with the company’s world class brand. The re/insurer relocated from the Maxwell Roberts Buildings on the corner of Church Street and Par-la-Ville Road into ...

Most of the major US-listed international insurers in the Bermuda market have seen their book value fall through the first nine months of a year blighted by a hugely most expensive catastrophe activity on record. Of the 16 companies surveyed by The R...

Bermuda-based Dunamis Holdings Ltd has announced the launch of Kalista, a cost-effective and efficient catastrophe bond issuance platform. The Kalista product is a result of the combined efforts of Limestone Law, a Bermuda law firm, the Bermuda Stock...