Hashtag: #BermudaInsurance
BFIS Has Awarded $4.3 Million In Scholarships
In his report to the annual general meeting of The Bermuda Foundation For Insurance Studies [BFIS] on December 5, chairman Michael Fisher said the organisation was proud to report it has now awarded scholarships with a total value of $4.3 million to 119 students since our inception some 16 years ago. Mr. Fisher went on to say, “The global economic... Read more of this article
Christmas Cheer For Church Food Banks
Christmas came early for two Bermuda food banks offering assistance to families who require a helping hand over the holiday period. On December 13 and 14 the Charles Taylor Bermuda office arranged for charitable donations to be delivered to two food banks being operated by St. John’s Anglican Church and the 7th Day Adventist Church. This is the second... Read more of this article
Endurance Speciality Promotes Kalaydjian
Endurance Specialty Holdings Ltd., the Bermuda-based specialty provider of property and casualty insurance and reinsurance, today [Dec.17] announced that Catherine A. Kalaydjian [pictured] will, in addition to her current responsibilities as chief claims officer, be promoted to the role of chief administrative officer and assume responsibility for human... Read more of this article
Island ‘Has Role To Play In Islamic Finance’
A delegation from Business Bermuda attended the World Islamic Banking Conference, the world’s largest annual gathering of international Islamic finance industry leaders, which took place in Bahrain from December 9- 11. In addition to exhibiting at the event, Business Bermuda’s Chief Executive Officer, Cheryl Packwood, joined a distinguished panel... Read more of this article
XL Expect $350M Loss From Hurricane Sandy
XL Group plc today announced its preliminary net loss estimate related to Storm Sandy of $350 million, pretax and net of reinsurance and reinstatement premiums. Approximately 60% of the Company’s estimated loss relates to the Reinsurance segment. Within the Reinsurance segment, the loss estimate is comprised of approximately 20% for Marine and... Read more of this article
ACE Expect $300M Loss From Superstorm Sandy
Bermuda-based ACE Limited said today [Dec 10] that preliminary losses in the fourth quarter for the ACE Group of companies from Superstorm Sandy in the northeastern United States are currently estimated to be $380 million after tax, net of reinsurance and including reinstatement premiums. This estimate includes losses generated from the company’s... 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
OIL Promotes Theresa Dunlop To Vice President
Oil Insurance Limited [OIL] has promoted Theresa Dunlop to the position of Vice President, OIL effective January 1, 2013. Mrs. Dunlop joined Oil Insurance Limited in March 2001 as a Senior Insurance Analyst in the Underwriting Department. She has assumed progressive responsibility over the last 11 years culminating in her promotion to an Officer of... Read more of this article
ACE Insurance Internship For Bermuda Students
ACE Bermuda invites Bermudian university students, who are interested in pursuing a career in the insurance industry, to apply for its new insurance internship. ACE Select is a paid internship and will run from 27 May – 9 August 2013. It will offer six student positions. Successful interns can expect to gain a well-rounded understanding of the insurance... Read more of this article
BF&M Ltd Nine Month Earnings: $13.7 Million
BF&M Limited today [Dec 6] announced shareholders’ net income for the nine month period ended 30th September 2012 of $13.7 million, resulting in an annualized return on shareholders’ equity of 9.7%. Shareholders’ net income for the comparative nine month period of 2011 was $16.7 million. President & CEO, John Wight [pictured] stated... Read more of this article
Validus Completes Acquisition Of Flagstone Re
Bermuda-based Validus Holdings, Ltd. has completed its acquisition of Flagstone Reinsurance Holdings, S.A. Ed Noonan, Validus’ Chairman and Chief Executive Officer, stated, “The acquisition of Flagstone solidifies our position as one of the largest catastrophe reinsurance underwriters in the world, with a $4 billion shareholder’s equity base.... Read more of this article
McGavick Elected ABIR Board of Directors Chair
The Association of Bermuda Insurers and Reinsurers [ABIR] has elected its new officers for a two year term beginning on January 1, 2013. Mike McGavick, CEO of XL Group plc was elected as Chair of the ABIR Board of Directors. He succeeds Arch Capital Limited’s President and CEO Constantine Iordanou who has now completed a two year term as ABIR Chair. Elected... Read more of this article
