Tag: Bermuda insurance

Fitch Places AXIS On Rating Watch Positive

Fitch Places AXIS On Rating Watch Positive

Fitch Ratings has placed the ‘A+’ Insurer Financial Strength [IFS] ratings of AXIS Capital Holdings Ltd. and its operating subsidiaries on Rating Watch Positive following its announced merger with PartnerRe Ltd. [PRE]. The ratings agency said, “Today’s affirmation follows the announcement that AXIS Capital entered into a definitive... Read more of this article

AXIS & PartnerRe To Combine In $11B Merger

AXIS & PartnerRe To Combine In $11B Merger

Two more Bermuda re/insurers are set to merge, with AXIS Capital Holdings Limited and PartnerRe Ltd. today announcing that they have signed a “definitive amalgamation agreement to create one of the world’s preeminent specialty insurance and reinsurance companies, with gross premiums written in excess of $10 billion, total capital of more than... Read more of this article

Industry Leaders: Micro Insurance Consortium

Industry Leaders: Micro Insurance Consortium

A group of leading companies in the insurance industry announced today [Jan 22] that they have established a micro insurance consortium and micro insurance venture incubator [MVI], with the Bermuda-based entity formed to create markets that deliver risk protection to the underserved in developing countries. The consortium consists of American International... Read more of this article

Global Reinsurers: Who Will Gain Despite Pain?

Global Reinsurers: Who Will Gain Despite Pain?

A.M. Best has released a new briefing providing its detailed perspective on the increasingly challenged global reinsurance market. The Best’s Briefing, titled “Global Reinsurers: Who Will Gain Despite All the Pain?” explores how the A.M. Best composite of U.S. and Bermuda reinsurers is expected to perform in 2015, and contains an estimate of dedicated... Read more of this article

Johnson Named Chief Communications Officer

Johnson Named Chief Communications Officer

Hamilton Insurance Group, the Bermuda-based holding company of property casualty reinsurer Hamilton Re and the organization’s U.S. property casualty insurance operations Hamilton USA, today [Jan 7] announced that Wendy Davis Johnson has been appointed to the position of Chief Communications Officer. Reporting to Hamilton CEO Brian Duperreault, Ms.... Read more of this article

P&C Insurers End 2014 With Acquisition Pick Up

P&C Insurers End 2014 With Acquisition Pick Up

“Acquisition activity in the North American property/casualty [re]insurance market picked up in fourth-quarter 2014, which may portend further deals in the coming year,” says Fitch Ratings. A statement from the ratings agency said, “Limited organic growth and profit potential amid unfavorable insurance pricing trends and intense market... Read more of this article

Brit Launches $75 Million Sidecar Versutus

Brit Launches $75 Million Sidecar Versutus

Brit Insurance unveiled Versutus Ltd, a new Bermuda-domiciled special purpose reinsurer which the company said “will reinsure a share of Brit’s existing worldwide property catastrophe excess of loss portfolio.” “The Bermuda-domiciled special purpose vehicle will initially be capitalised at $75m. Capital has been committed by... Read more of this article

Catlin Sells Investment In Box Innovation Group

Catlin Sells Investment In Box Innovation Group

Bermuda-based Catlin Group Limited, announced that its subsidiary, Catlin Insurance Company Ltd., has entered into an agreement for the sale of its investment in Box Innovation Group Limited to Aioi Nissay Dowa Insurance Company of Europe Limited. “Aioi will acquire shares from CICL as well as other shareholders, and as a result of the transaction... Read more of this article

AM Best Affirms Tokio Millennium Re Ratings

AM Best Affirms Tokio Millennium Re Ratings

A.M. Best has affirmed a financial strength rating of A++ [Superior] and an issuer credit rating of “aa+” of Tokio Millennium Re AG. The outlook for both ratings is stable. The ratings agency said, “The ratings reflect TMR’s superior financial strength, its solid risk management, favorable historical operating performance and... Read more of this article

Chairperson: BFIS Appoints Gail Martin At AGM

Chairperson: BFIS Appoints Gail Martin At AGM

The Donor Members of The Bermuda Foundation For Insurance Studies [BFIS] appointed Gail Martin as BFIS’ first female Chair at the Foundation’s AGM held on December 15, 2014. Mrs. Martin is a VP and Underwriter with Hannover Re and first joined the BFIS Steering Committee in 2002 and the Board in 2006. Outgoing chairman, Michael Fisher said “After... Read more of this article


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