Tag: Bermuda insurance

RenaissanceRe Completes Platinum Acquisition

RenaissanceRe Completes Platinum Acquisition

[Updated] Bermuda-based RenaissanceRe Holdings Ltd. today [March 2] announced that it has completed its acquisition of Platinum Underwriters Holdings Ltd. Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, commented: “The combination of RenaissanceRe and Platinum marks an important milestone for our company, benefiting... Read more of this article

Platinum Shareholders Approve RenRe Deal

Platinum Shareholders Approve RenRe Deal

Platinum Underwriters Holdings, Ltd. announced that at a special general meeting of shareholders held earlier today [Feb 27], all proposals related to the Company’s pending acquisition by RenaissanceRe Holdings Ltd. were overwhelmingly approved by the Company’s shareholders. “I’d like to thank our shareholders for their support... Read more of this article

Bill Hagerty To Join RenRe Board Of Directors

Bill Hagerty To Join RenRe Board Of Directors

Bermuda-based RenaissanceRe Holdings Ltd. announced that W. James “Jim” MacGinnitie, 76, who has served as a member of the Board since 2000, will retire as a Director, and that William F. “Bill” Hagerty IV, 55, will join the Board, each to occur in conjunction with the Company’s Annual General Meeting of Shareholders in... Read more of this article

A.M. Best Assigns Debt Rating To Third Point Re

A.M. Best Assigns Debt Rating To Third Point Re

A.M. Best has assigned a debt rating of “bbb-” to the $115 million 7% fixed senior unsecured notes due 2025 recently issued by Third Point Re [USA] Holdings, Inc. [Wilmington, DE]. The assigned outlook is stable. Third Point Reinsurance Ltd [TPRE] [Bermuda], the parent company of Third Point RE [USA] Holdings, is the guarantor of the senior notes.... Read more of this article

AXIS Capital Declares $0.29 Quarterly Dividend

AXIS Capital Declares $0.29 Quarterly Dividend

Bermuda-based AXIS Capital Holdings Limited has declared a quarterly dividend of $0.29 per common share. The common dividend will be payable on April 15, 2015 to the shareholders of record at the close of business on March 31, 2015. In addition, the Board declared a dividend of $1.875 per Series B 7.50% Preferred Share, a dividend of $0.429688 per... Read more of this article

AM Best Affirms Ratings Of Isosceles Insurance

AM Best Affirms Ratings Of Isosceles Insurance

A.M. Best has affirmed the financial strength rating of B++ [Good] and the issuer credit rating of “bbb+” ofIsosceles Insurance Ltd. [Isosceles] [Bermuda]. The outlook for both ratings is stable. A statement from the ratings agency said, “The ratings recognize Isosceles’ adequate capitalization, as well as strict risk and exposure controls... Read more of this article

Mergers “Likely To Give Rise To Redundancies”

Mergers “Likely To Give Rise To Redundancies”

The “merger mania” we have witnessed in Bermuda’s re/insurance business in the past year is “likely to give rise to redundancies,” Finance Minister Bob Richards said as he delivered the 2015/16 Budget in the House of Assembly on Friday [Feb 20]. In recent months, XL Group confirmed it will acquire Catlin Group, RenaissanceRe... Read more of this article

RenaissanceRe Board Declares $0.30 Dividend

RenaissanceRe Board Declares $0.30 Dividend

The Board of Directors of Bermuda-based RenaissanceRe Holdings Ltd. voted to increase the Company’s quarterly dividend to $0.30 per common share, from $0.29 per common share. The Company has increased its dividend during each of the twenty years since its initial public offering. The dividend is payable on March 31, 2015 to shareholders of record... Read more of this article

PwC: Insurance & Reinsurance Transformation

PwC: Insurance & Reinsurance Transformation

Insurance and reinsurance CEOs are displaying a sense of optimism about their respective companies’ growth potential despite having real concerns about increasing disruption from changes to distribution channels and alternative capital. Results from PwC’s 18th Annual Global CEO Survey-Insurance sector reveal 59% of industry CEOs believe there are... Read more of this article

Bermuda Is Domicile Of Choice For 57% Of ILS

Bermuda Is Domicile Of Choice For 57% Of ILS

Bermuda has been revealed to be the domicile of choice for 57 percent of Insurance Linked Securities [ILS] during 2014, with a BSX spokesperson saying that “the island is committed to retaining its top position for the creation, listing and servicing of the vehicles in 2015.” Bermuda was an early leader in embracing and supporting the ILS... Read more of this article


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