Hashtag: #MontpelierRe
Montpelier Re Holdings Declares Dividends
Bermuuda-based Montpelier Re Holdings Ltd. declared a quarterly dividend of $0.115 per common share. The company’s board of directors has also declared a quarterly dividend of $0.554688 per 8.875% Non-Cumulative Preferred Share, Series A. The dividends are payable on or before July 15, 2013, to all shareholders of record as of June 28, 2013. A... Read more of this article
Reinsurers: Tornado Claims Could Top $2 Billion
Although the tornado which struck the Oklahoma town of Moore this week [May 20] could become the largest single catastrophe insured loss event of the year in the US, Bermuda and global reinsurers are cautiously optimistic that the catastrophe will have no major impact on pricing in the market. A recurring concern after any large-scale disaster is whether... Read more of this article
A.M. Best Analysts Affirms Montpelier Ratings
A.M. Best Co. this week [May 22] affirmed the financial strength rating of A [Excellent] and issuer credit rating [ICR] of “a” of Bermuda’s Montpelier Reinsurance Ltd. Additionally, A.M. Best has affirmed the ICR of “bbb” and debt ratings of the parent company, Bermuda-based Montpelier Re Holdings Ltd. The outlook for all ratings is stable. Best... Read more of this article
Zacks: Montpelier “Remains Well Positioned”
Bermuda-based Montpelier Re Holdings stock had its “outperform” rating reaffirmed by Zacks in a research note issued on Friday [Apr. 26]. They currently have a $31.00 price target on the stock. Zacks‘ analyst wrote, “Montpelier’s first quarter earnings per share surpassed the Zacks Consensus estimate, but fell short of year ago earnings. Premiums,... Read more of this article
Montpelier Re Holdings Releases Q1 Earnings
Montpelier Re Holdings Ltd., a Bermuda-based provider of short-tail reinsurance and other specialty lines, reported its financial results for the quarter ended March 31, 2013 on Wednesday [Apr. 24]. Fully converted book value per common share was $27.49, an increase of 5.6 percent from December 31, 2012, after taking into account common share dividends... Read more of this article
Blue Capital Issues Fundraising Prospectus
The board of Blue Capital Global Reinsurance Fund Limited announced on Wednesday [Apr. 17] that the company has released a prospectus in connection with its proposed placing programme. The net proceeds raised pursuant to the placing programme will be invested in fully collateralised reinsurance-linked contracts and other investments carrying exposures... Read more of this article
Zacks Upgrades Montpelier To “Outperform”
Analysts at Zacks upgraded Bermuda-based Montpelier Re Holdings Ltd. to Outperform from Neutral. Zacks said Montpelier remains well positioned to deliver solid numbers going forward, given its increased exposure in the property catastrophe lines of business. In addition, focusing on underwriting operations, augmenting capital flexibility, and strengthening... Read more of this article
Montpelier Re Declares Quarterly Dividend
Bermuda-based Montpelier Re Holdings Ltd. has declared a quarterly dividend of $0.115 per Common Share. The Company’s Board of Directors has also declared a quarterly dividend of $0.554688 per 8.875% Non-Cumulative Preferred Share, Series A. The dividends are payable on or before April 15, 2013, to all shareholders of record as of March 28, 2013. The... Read more of this article
Tom Busher To Retire From Montpelier Re
Deputy Chairman, Executive Vice President and Chief Operating Officer, Tom Busher, will retire from Montpelier Re Holdings Ltd., on December 31, 2013, after twelve years of service. Mr Busher was a member of the original management team which founded Montpelier in late 2001, and has been COO since its inception. He was elected to the Montpelier Board... Read more of this article
Montpelier Expects $95M Loss From Superstorm
Bermuda-based Montpelier Re Holdings Ltd. said its pretax net loss incurred from Superstorm Sandy in the fourth quarter will be approximately $95 million, which is net of reinsurance recoveries and reinstatement premiums. This initial loss estimate is based on a combination of Montpelier’s proprietary CATM modeling analysis, an underwriting assessment... Read more of this article
Montpelier Re Launches Blue Capital Platform
Bermuda-based Montpelier Re Holdings Ltd. has launched ‘Blue Capital’ – an asset management platform offering a range of innovative catastrophe reinsurance-linked investment products to institutional and retail investors. Chris Harris, President and CEO of Montpelier, said, “Montpelier has been successfully managing third-party capital... Read more of this article
Montpelier Re Reports Q3 Financial Results
Bermuda-based Montpelier Re Holdings Ltd. reported financial results for the third quarter ended September 30, 2012. Fully converted tangible book value per common share was $26.61, an increase of 5.3% for the quarter and 18.6% year-to-date, including common share dividends declared during the periods. Operating income for the quarter was $0.85 per... Read more of this article
Fitch Upgrades Montpelier Re Ratings
Fitch Ratings upgraded the ratings of Bermuda-based Montpelier Re Holdings Ltd. These ratings upgrades include Montpelier’s senior unsecured debt rating, which was upgraded to ‘BBB+’ from ‘BBB’, and the Insurer Financial Strength (IFS) rating of Montpelier Reinsurance Ltd. (Montpelier Re), which was upgraded to ‘A’... Read more of this article
Montpelier Re’s $300 Million Senior Notes
Bermuda-based Montpelier Re Holdings Ltd. announced the pricing of its offering of $300 million in aggregate principal amount of senior notes due 2022. The 2022 Notes will mature on October 15, 2022, will bear interest at a rate of 4.70% per annum and will be issued at 99.682% of par value. The offering is expected to close on October 5, 2012, subject... Read more of this article
Montpelier Re Declares Quarterly Dividend
The Board of Directors of Bermuda-based Montpelier Re Holdings Ltd. has declared a quarterly dividend of $0.105 per Common Share and $0.554688 per 8.875% Non Cumulative Preferred Share, Series A. The dividends are payable on or about October 15, 2012, to all shareholders of record as of September 28, 2012. The Company, through its operating subsidiaries,... Read more of this article
Montpelier Re Appoints Christopher Downey
Bermuda-based Montpelier Reinsurance Ltd. has named Christopher Downey as Head of Global Casualty and Specialty Treaty Reinsurance, effective immediately. Mr. Downey is responsible for leading the full portfolio of casualty and specialty treaty business written through Montpelier Re and will report directly to Christopher Schaper, President of Montpelier... Read more of this article
