Hashtag: #BermudaInsurance
Angelina To Retire From Endurance Speciality
Bermuda re/insurer Endurance Specialty Holdings Ltd. announced today [Apr.2] that Michael Angelina will be retiring from his position as Chief Risk Officer and Chief Actuary effective April 13 in order to assume the position of Executive Director of the Academy of Risk Management and Insurance at St. Joseph’s University in Philadelphia. Mr. Angelina... Read more of this article
GM Cuts Support To The Heartland Institute
Citing its corporate stance that climate change is real, US auto manufacturer General Motors has announced its General Motors Foundation would no longer be funding the Heartland Institute just weeks after the Association of Bermuda Insurers & Reinsurers [ABIR] put distance between itself and the controversial free-market think tank’s position... Read more of this article
Best: Negative Outlook For Argus Group
Ratings agency A.M. Best Co. today [Mar.30] revised the outlook to negative from stable and affirmed the financial strength rating of B++ [Good] and issuer credit ratings [ICR] of “bbb” of Argus Insurance Company Limited, Somers Isles Insurance Company Limited and Bermuda Life Insurance Company Limited, all subsidiaries of Argus Group Holdings... Read more of this article
OneBeacon To Review Q/1 Financial Results
Bermuda-domiciled OneBeacon Insurance Group will review its first quarter 2012 results via live webcast at 10:00 a.m. Eastern Time on Friday, April 27 following its earnings release earlier that morning. The slide presentation that will be referenced during the call, the news release and a financial supplement will be available on the company’s... Read more of this article
Scottish Re Posts Financial Statements
Bermuda re/insurer Scottish Re Group Limited announced today [Mar.30] that it has posted to its website its consolidated financial statements as of and for the year ended December 31, 2011. The company’s consolidated financial statements are available here. Scottish Re Group Limited is a global life reinsurance specialist with operating businesses... Read more of this article
Alterra Appoints Dan Gamble As EVP
Bermuda re/insurer Alterra Capital Holdings Limited yesterday [Mar.29] announced the appointment of Daniel G. Gamble as Executive Vice President of the Professional Liability Group of Alterra US Insurance. The Professional Liability Group will include the Executive Liability and Professional Liability underwriting units of Alterra US Insurance. Doug... Read more of this article
XL Enhances ‘Side A’ D&O Coverage
XL Group plc’s Bermuda insurance operations, XL Insurance [Bermuda] Ltd [XLIB], yesterday [Mar. 29] announced that it has enhanced its broad form “Side A” D&O Coverage. The enhanced coverage on an excess difference in conditions basis provides additional limit of liability for independent directors, defense costs coverage for Sarbanes-Oxley... Read more of this article
Bermuda Broker: Bahamas Could Draw Captives
The Bahamas could attract between $5-$10 billion in premium income within five years if it made a concerted effort to re-establish itself as a captive insurance domicile, a Bermudian broker told that country’s “Tribune” newspaper on Monday [Mar. 26]. Guilden Gilbert Jr., who now lives and works in the Bahamas, said this would create... Read more of this article
Healthcare Reform Subject Of XL Forum
Healthcare reform, one of the hottest topics in Bermuda and definitely this week in the US where the Supreme Court is hearing oral arguments in a case challenging the constitutionality of the Obama administration’s landmark Patient Protection and Affordable Care Act, dominated the agenda at a forum held recently by XL Insurance (Bermuda) Ltd. During... Read more of this article
IronHealth Teams With Reputation Partners
IronHealth, the specialty health care division of Bermuda re/insurer Ironshore Inc., yesterday [Mar.28] announced a partnership with Reputation Partners L.L.C. to offer its risk management services for financial and operational health care crises. The corporate communications consultancy will be considered a preferred vendor for IronHealth clients,... Read more of this article
Chile: Insured Losses Less Than $100 Million
The insured losses from the magnitude-7.1 Chile earthquake on March 25th are expected to be less than $100 million, according to catastrophe modelling firm EQECAT. The earthquake occurred 200km south of Santiago on March 25, at a moderate depth of 35km. This earthquake was widely felt throughout central Chile, including regions affected by the 2010... Read more of this article
Islamic Finance Assets Continue To Grow
As Bermuda continues to position itself as a hub for Sharia-compliant business, a new report from the UK Islamic Finance Secretariat [UKIFS] indicates that Islamic finance assets worldwide continued a long run of growth to reach an estimated $1.3 trillion in 2011 — 150 per cent up over the previous five years. Despite political unrest in some... Read more of this article
