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Insurance

Reinsurance

"Montpelier anticipates $126m in quake losses"

Montpelier Re Holdings Ltd has announced a preliminary loss estimate of $126 million from the March 2011 earthquake and tsunami in the Tohoku region of Japan. Montpelier also assumes a $25 billion industry loss.
Apr 07, 2011
Reinsurance

"Reinsurers’ shares hit record highs on rate rise hopes"

Shares of several Bermuda re/insurers hit record levels yesterday as investors bet a string of recent catastrophes may push up prices across the industry. RenaissanceRe, Validus Holdings and Arch Capital all touched all-time highs in New York Stock ...
Apr 05, 2011
Other

"British American policyholders to vote on repayment plan"

British American life insurance policyholders today moved a step closer to receiving refunds on premiums they paid into the defunct company. Millions of dollars invested by Bermudian families are tied up in British American Insurance Company, which w...
Apr 03, 2011
International Business

"Ironshore sets up new division in Canada"

Bermuda-based insurer Ironshore has set up a new Specialty Casualty division in Canada to underwrite insurance coverages for General Liability, as well as umbrella and excess liability programmes. Stephen Stewart has been named vice-president to hea...
Mar 29, 2011
International Business

"OIL posts $781m profit in 2010"

Oil Insurance Ltd (OIL) recorded net income of $781.8 million last year, the Bermuda-based energy industry mutual insurer revealed yesterday. OIL was not hit hard by the Deepwater Horizon oil rig loss in the Gulf of Mexico last April, because its mem...
Mar 29, 2011
International Business

C&C set to buy Bermuda-based Ramshorn in $89m deal

CALGARY (Reuters) - Canadian oil and gas company C&C Energia said its unit plans to buy Bermuda-based explorer Ramshorn International’s Colombian oil and gas properties for $89 million. C&C, which owns a 30 percent interest in the Cachicamo block in ...
Mar 28, 2011
Other

"‘Quiet hero of Bermuda insurance’ Pimm dies at 89"

The death has occurred in Plymouth, Vermont of retired insurance executive Basil Mathew (Bill) Pimm at the age of 89. Mr Pimm came to Bermuda in 1975 to join global insurance broker Marsh & McLennan (Bermuda) Ltd. as assistant to the managing directo...
Mar 28, 2011
International Business

"Shore Capital profit falls slightly"

Investment bank Shore Capital Group Ltd’s profit held up well during 2010 driven by a diverse range of operations and strong balance. The company, which is focused on equity capital markets, alternative asset class fund management and principal finan...
Mar 28, 2011
International Business

"Fears for Cayman economy as population declines"

KINGSTON, Jamaica (AP) The population of the Cayman Islands is falling, preliminary census statistics show, sparking worries about how a diminishing work force will affect the wealthy British Overseas Territory’s economy. Cayman Islands Premier McKee...
Mar 28, 2011
Reinsurance

"Japanese reinsurance rates expected to rise"

TOKYO (Bloomberg) Japan’s biggest non-life insurers may have to pay higher reinsurance rates when they are reviewed next month after the nation’s strongest earthquake. Revisions will be affected in the aftermath of the March 11 temblor and subsequent...
Mar 25, 2011
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