Hashtag: #Switzerland
Premier To Participate In Meetings In Switzerland
Premier and Minister of Finance David Burt is traveling to Davos-Klosters, Switzerland this week to participate in a series of meetings and discussions exploring business, technology and economic diversification opportunities for Bermuda. “The meetings will be held alongside the 48th World Economic Forum Annual Meeting taking place from January... Read more of this article
Lawyers Promote Bermuda In Switzerland
Two lawyers have just returned to Bermuda after promoting the island at a conference in Switzerland. Jeffrey Elkinson, a director in the Conyers Dill & Pearman Litigation and Insolvency department, and Peter Pearman, a director in the firm’s Private Client and Trust department, both spoke at the Transcontinental Trusts Conference, in Geneva. The... Read more of this article
Adrian Spieler To Join Catlin As CAO
Bermuda’s Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced today [Dec. 21] that Adrian Spieler will join Catlin in February as Group chief administrative officer. In his new role Adrian Spieler will be a member of the Group Executive Committee responsible for information technology, management... Read more of this article
Amlin Ratings Affirmed By Best
Ratings agency A.M. Best has affirmed the financial strength rating [FSR] of A+ [Superior] and issuer credit rating [ICR] of “aa-” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited, and the FSR of A [Excellent] and ICR of “a” of Amlin AG which redomiciled to Switzerland from Bermuda in 2010. Despite... Read more of this article
Business Bermuda Attend Geneva Conference
Business Bermuda represented Bermuda’s fund industry at the Geneva Hedge Fund Re-domiciliation conference for Managers & Funds on 28th June at the Starling Geneva Hotel. Business Bermuda attended the day-long event to talk about how non-EU offshore jurisdictions, in particular Bermuda, will accommodate the Alternative Fund Managers Directive [AIFMD]... Read more of this article
AM Best On Canopius Swiss Move
The announcement by Lloyd’s insurer Canopius Group Ltd. that it will establish a reinsurance operation in Zurich is further recognition of Switzerland’s emergence as a reinsurance centre — and another blow to Bermuda’s reputation as the global domicile of choice for reinsurers, analysts at A.M. Best report. Canopius Europe,... Read more of this article
Swiss Rules Tougher Than Solvency II
Switzerland is continuing efforts to blunt the island’s competitive edge as the leading catastrophe re/insurance domicile by rolling out new regulatations even more stringent than the European Union’s Solvency II rules the Bermuda Monetary Authority is working to gain equivalence with. Bloomberg reports today [Jan. 31] the new solvency... Read more of this article
Lloyds CEO: More Focused on Swiss Challenge
The Lloyd’s of London insurance market keeps a close eye on competition from Bermudian reinsurers, but is more focused on the challenge coming from Switzerland. In an exclusive Reuter news agency report, Lloyds chief executive Richard Ward [pictured] said while the London-based global insurance market monitors Bermuda-based (re)insurers, it is... Read more of this article
Catalina To Purchase Swiss Reinsurer
Catalina Holdings (Bermuda) Ltd. today (Jan. 11) announced that it has signed a definitive share purchase agreement to acquire Glacier Re. Headquartered in Cumberland House on Victoria Street, Catalina Holdings is a Bermuda company backed by significant blue chip investors, and specialises in the acquisition and management of non-life insurance and... Read more of this article
Canopius Expands Into Switzerland
Canopius Group, which operates two companies in Bermuda, announced today (Jan.7) will establish a reinsurance underwriting platform based in Zurich. The new operation, Canopius Europe, will begin by focusing on European treaty reinsurance business and will underwrite on behalf of Canopius Group’s Syndicate 4444 at Lloyd’s, subject to necessary... Read more of this article
Bermuda Promoted at Swiss Conference
Representatives of Bermuda and Business Bermuda attended the Risk Minds 2010 conference at the President Wilson Hotel in Geneva, Switzerland from 7th December to 9th December 2010. The Risk Minds conference is the largest and longest running risk management conference in the industry and this year attracted more than 600 delegates from around the world.... Read more of this article
Catlin Launches Swiss Subsidiary
Bermuda-based Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced today (Dec. 8) that Catlin Re Switzerland Ltd. has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a reinsurance company. Catlin Re Switzerland will be capitalised with approximately $1.1... Read more of this article
Allied World Completes Redomestication
Allied World Assurance Company Holdings announced today (Dec 1) that it has completed the previously announced redomestication of its group holding company from Bermuda to Switzerland. The new Swiss holding company will remain subject to the U.S. Securities and Exchange Commission reporting requirements, the applicable corporate governance rules of... Read more of this article
Report: Swiss Will Profit from Bermuda Woes
Switzerland is going to continue to profit from increasing international regulatory and political pressure being brought to bear on Bermuda, financial analysts say according to Swissinfo. According to the report, Bermuda and other small international business domiciles remain highly vulnerable to moves in Washington to repatriate corporate earnings... Read more of this article
Reports: Europe’s Threat to Our Re/Insurance Sector
Bermuda’s preeminence as the off-shore domicile of choice among global insurers and reinsurers is coming under increasing threat from Switzerland because of mounting uncertainty surrounding the island’s long-term tax status with the US and an inadequate regulatory infrastructure, according to international news reports. Both Reuter and Business... Read more of this article
Allied World Moving Incorporation to Switzerland
Allied World Assurance Company Holdings, Ltd today [Sept 30] announced that its Board of Directors has unanimously approved a plan for the group holding company to redomesticate its place of incorporation from Bermuda to Switzerland. Following the redomestication, the holding company’s Bermuda insurance and reinsurance subsidiary will continue... Read more of this article
