Hashtag: #BermudaInsurance
RMS Launches Cat Bond Service
California catastrophe modeler Risk Management Solutions [RMS] — a leading provider of products and services to Bermuda’s reinsurance sector — today [Feb. 17] announced the launch of Miu Pricing. The new service provides fixed income investors with everything they need to make investment decisions in both the new issue and secondary... Read more of this article
Argo Group Declares Dividend
Argo Group International Holdings, Ltd., a Bermuda-based international underwriter of specialty insurance and reinsurance products, announced today [Feb.16] its board of directors has declared a quarterly cash dividend of 12 cents per share on the company’s common stock. The dividend will be paid on Thursday, March 15, 2012, to shareholders of... Read more of this article
County’s Bankruptcy Threat To Syncora
Alabama’s bankrupt Jefferson County agreed on Wednesday [Feb.15] to a temporary hike in debt payments after lawyers for Syncora Guarantee Inc said the Bermuda-based bond insurer’s survival was threatened by shrunken payments on the county’s $3.14 billion of sewer debt. The Reuter news agency reports lawyers for creditors and Jefferson... Read more of this article
Duperreault: ‘Very Pleased’ With Results
Marsh & McLennan Companies, Inc., the global professional services firm headed by Bermudian Brian Duperreault, today [Feb.16] reported financial results for the fourth quarter and year ended December 31, 2011. As the world’s leading insurance broker and risk advisor, the firm has a significant Bermuda presence. President and CEO Mr. Duperreault... Read more of this article
Allied World: ‘Solid Profitability’
Allied World Assurance Company Holdings, AG — which redomiciled to Switzerland from Bermuda in 2010 – today reported operating income of $94.7 million, or $2.40 per diluted share, for the fourth quarter of 2011 compared to operating income of $97.3 million, or $2.24 per diluted share, for the fourth quarter of 2010. The firm — which... Read more of this article
Primus Guaranty Issues Results
Bermuda-based Primus Guaranty, Ltd. today [Feb.16] announced its financial results for the fourth quarter and full year ended December 31, 2011. GAAP net income available to common shares for the fourth quarter 2011 was $100.5 million, or $2.84 per diluted share, compared with GAAP net income available to common shares of $128.3 million, or $3.30 per... Read more of this article
ABIR On Global Warming
[Updated w/correction] The Association of Bermuda Insurers & Reinsurers [ABIR] and a subsidiary of the Hamilton-based Renaissance Re were among the insurers recently disclosed as supporting an American think tank which has as one of its programs an effort discredit the theory of man-made global warming. ABIR noted its support is for a separate... Read more of this article
‘Challenging Year’ For Argo Group
Bermuda-based Argo Group International Holdings, Ltd. yesterday [Feb.14] reported net income of $1.4 million and a net loss of $82.4 million for the quarter and year ended Dec. 31, 2011, respectively, compared to net income of $12.8 million and $82.6 million for the same periods in 2010. “2011 was a challenging year for Argo Group and the industry... Read more of this article
Disasters Hit Arch Bottom Line
Bermuda’s Arch Capital Group Ltd.’s fourth-quarter earnings dropped 39% though the insurance and reinsurance company reported improvement in its core profit, which excludes investment gains and losses. Like other global insurers, Arch Capital was hit with exceptionally high catastrophe losses last year. In the latest period, Arch yesterday... Read more of this article
Argo Group’s Malta Operation
Argo Group International Holdings, Ltd., the Bermuda-headquartered underwriter of specialty insurance and reinsurance products, announced the formation through its subsidiaries of a new insurance company in Malta. ArgoGlobal SE will operate as a domestic insurer in Malta as a platform for offering primary and excess insurance throughout the European... Read more of this article
Ironshore: Joint Firearms Programme
Bermuda-based reinsurer Ironshore Inc. and Washington State’s Cochrane & Co. yesterday [Feb.13] announced they have launched a coverage programme for the US firearms industry. Called the Cochrane Ammunition and Rifle Manufacturing Specialist programme, or ARMS, the service covers 12 classes of clients, including firearms retailers; wholesalers... Read more of this article
Argus Launches Insurance For Seniors
The Argus Group has launched “Home Essentials,” a new home insurance product designed specifically for Bermuda’s seniors. The new product is available at 25% below the market price for home insurance and has been endorsed by Age Concern as a product that meets the needs of the island’s growing senior population. An Argus spokesperson... Read more of this article
