Archive for December 1st, 2011
ABIR Analysis Of US Tornado Losses
International reinsurers’ share of insured losses from 2011 US tornadoes is likely to be about $2.5 billion, or roughly 17 percent of total insured losses, according to analysis by the Association of Bermuda Insurers & Reinsurers [ABIR]. ABIR President Bradley Kading [pictured] told “Out of the Storm News” today [Dec. 1] that most... Read more of this article
Haverford May Drop Its Omega Bid
Bermuda-based reinsurer Haverford says it may drop its bid to acquire 25 percent of London-listed rival Omega, citing a “very significant and unexpected deterioration in Omega’s financial position and prospects”. Domiciled in Bermuda, Omega last month reported a 16 percent drop in nine-month gross written premiums and raised its estimate... Read more of this article
Brazilian Singer’s Farewell Show
As Bermuda’s Chewstick Foundation continues to expand its events series to celebrate and support the endeavors of talented artists, Brazilian singer/songwriter and volunteer Fabiana Marcondes will be featured on Friday [Dec. 2]. Affectionately called Fabi by Chewstick staff and supporters, Ms Marcondes has become an integral part of the cultural... Read more of this article
Hardy Underwriting’s Strategic Review
Hardy Underwriting Bermuda is carrying out a strategic review following the size of catastrophe events this year and after receiving several preliminary expressions of interest in its business. The Bermuda-based specialist insurer and reinsurer said the review would consider whether shareholder value might best be maximised and business opportunity... Read more of this article
Frederico Responds To Downgrades
Bermuda’s Assured Guaranty Ltd saw its credit rating downgraded two notches yesterday [Nov.30] by Standard & Poor’s, but the cut was smaller than had been threatened and should let the US municipal bond insurer keep guaranteeing public finance debt. S&P lowered its ratings for Assured operating units, including Assured Guaranty... Read more of this article
Video: Earl Cameron Celebrates Reading
Legendary Bermudian actor Earl Cameron said those who don’t bother to read books or plays have no real advantage over those who cannot read at all when he took part in the London borough of Brent’s month-long celebration of literacy in November. British broadcaster Alex Pascall interviewed Mr. Cameron, 94, in front of an audience about... Read more of this article
