Hashtag: #BermudaInsurance
BF&M Announces Earnings Of $4.5 Million
BF&M Limited today [July 24] announced shareholders’ net income for the three month period ended 31st March 2012 of $4.5 million, resulting in an annualized return on shareholders’ equity of 9%. Shareholders’ net income for the comparative three month period of 2011 was $5.7 million. President & CEO, John Wight [pictured] stated that “Financial... Read more of this article
Embarcadero Re Selling $150M Catastrophe Bonds
The California Earthquake Authority is seeking to raise about $150 million through a sale of catastrophe bonds to help it meet potential claims, market sources said on Friday, as reported in a Reuters article. The bonds are to be sold through the CEA’s Bermuda-based Embarcadero Re vehicle, and offer protection against property damage in the event... Read more of this article
Three People Charged With Defrauding BF&M
In Magistrates Court this morning [July 9] three Filipino nationals pleaded not guilty to a series of charges of defrauding BF&M Insurance Co Ltd of approximately $75,000. The slew of charges covered the period April 2011 to March 2012. Camille Canillas Orteza, 25, pleaded not guilty to eleven charges of obtaining money and attempting to money.... Read more of this article
Upcoming: State Insurance Regulation Discussion
Drinker Biddle & Reath LLP and The Bermuda Foundation for Insurance Studies [BFIS] will sponsor a panel discussion addressing the Future of State Insurance Regulation at the Fairmont Hamilton Princess, on July 11, 2012 beginning at 5 p.m. A cocktail reception will follow the panel discussion. The panelists for the event are: Michael F. Consedine,... Read more of this article
Insurance Seminar: Costa Concordia Disaster
The Bermuda Insurance Institute is holding a Marine Insurance Seminar next month on “The Costa Concordia Disaster“, which they said is a “must see” for anyone interested in the specialty insurance world of Marine coverages in the context of a real life disaster. In January of this year the Costa Concordia cruise ship ran aground off... Read more of this article
Italy Quake: Insured Losses Estimated At $126M
The insured losses from Sunday’s [May 20] 6.0 magnitude earthquake in Italy are expected to be around than $126 million, according to catastrophe modelling firm EQECAT. The earthquake struck about 22 miles north of the city of Bologna in the northern Italian region of Emilia–Romagna on 20 May 2012 at 4:03am local time. The death toll has risen... Read more of this article
BFIS ‘Careers In Insurance’ Booklet Released
The Bermuda Foundation For Insurance Studies has released a 20-page booklet ‘Careers In Insurance’, which is aimed at helping Bermuda’s students gain the knowledge to consider a career in insurance, then the education and training necessary to enter the industry. The booklet was designed to be used during the insurance career presentations BFIS... Read more of this article
Maiden Holdings To Release First Quarter Earnings
Bermuda based Maiden Holdings, Ltd. plans to release first quarter 2012 financial results following the market close on Wednesday, May 2, 2012. Art Raschbaum, Chief Executive Officer, and John Marshaleck, Chief Financial Officer, will review these results via teleconference and live audio webcast on Thursday, May 3, 2012 beginning at 9:00am Bermuda... Read more of this article
AXIS Capital Announces Management Transitions
AXIS Capital Holdings Limited yesterday [Apr.17] announced the details of management transitions in AXIS Re, which will become effective over the balance of the year. At the end of this year, Karl Mayr [Pictured left], currently CEO and President of AXIS Re Europe, reporting to Jay Nichols, CEO of AXIS Re, will retire as CEO of AXIS Re Europe and assume... Read more of this article
RIMS Convention & Exhibition In High Gear
The 50th Annual Risk and Insurance Management Society [RIMS] Convention & Exhibition under the umbrella, “50 Years Making Connections” began in earnest on Monday [Apr.16] with registrants from across the globe making their way to the convention floor. In addition to hundreds of exhibitors, numerous sessions offered at RIMS included, Excellence... Read more of this article
Assured Guaranty Responds To Moody’s Ratings
Moody’s Investors Service recently published two sets of reports on Assured Guaranty, parent company of Bermuda based subsidiary Assured Guaranty Re Ltd. In the first report, dated March 20, 2012, Moody’s placed the Insurance Financial Strength ratings of Assured Guaranty Municipal Corp. and Assured Guaranty Corp. on review for possible downgrade,... Read more of this article
Premier Attends RIMS Conference In Philadelphia
The Premier and Minister of Finance, Paula Cox is currently attending the 48th Annual Risk and Insurance Management Society [RIMS] Conference & Exhibition in Philadelphia, Pennsylvania. Attendees from more than 50 countries including multinational corporations and international organizations will come together in Philadelphia at RIMS 2012 to learn... Read more of this article
