Hashtag: #BermudaInsurance
Argus: 32% Without Home Contents Insurance
The Argus Group released findings from new research that shows a third [32%] of Bermuda residents are without home contents insurance. Renters, who made up one third of those interviewed, are significantly more likely than homeowners to be without this form of protection with over half [56%] choosing to take the risk of not insuring their belongings. The... Read more of this article
Premier Signs Malta Tax Agreement In UK
Bermuda’s Ministry of Finance announced today [Nov. 24] the signing of a bilateral tax information exchange agreement with the Republic of Malta. The agreement, which took place in London, was signed by Maltese High Commissioner to the UK H.E. Joseph Zammit Tabona and Premier and Finance Minister Paula Cox. “Negotiations took place in Bermuda during... Read more of this article
Catlin Hosts London Investor Seminar
Bermuda’s Catlin Group Limited, the international speciality property/casualty insurer and reinsurer, is hosting an Investor Day in London today [Nov.24]. The topics to be covered include capital management and investment strategy. Catlin Group Limited, headquartered in Hamilton, is an international specialist property/casualty insurer and reinsurer... Read more of this article
Best Affirms Top Ratings For Hiscox
A.M. Best’s European rating service has affirmed the financial strength rating [FSR] of A [Excellent] and issuer credit rating [ICR] of “a” of Bermuda-based Hiscox Insurance and its local and internationalo subsidiaries. Concurrently, A.M. Best has affirmed the FSR of A [Excellent] and ICR of “a+” of Lloyd’s of London Syndicate 33,... Read more of this article
ABIR Urges Brazil To Lift Restrictions
The Association of Bermuda Insurers & Reinsurers [ABIR] has joined with other global insurance groups to urge Brazil to lift reinsurance restrictions in one of the world’s leading emerging markets. ABIR — the public policy branch of Bermuda’s off-shore re/insurance industry — is part of a coalition of 18 international insurance... Read more of this article
Record Number Of SPIs Form In Bermuda
The back-to-back series of global catastrophes which caused so much devastation — and so many insurer losses — early in 2011 also spurred the formation of special purpose insurers [SPIs] in Bermuda with 17 formed this year, the largest number to date. The majority of those formations have been created for issuing catastrophe bonds, and... Read more of this article
Zacks Upgrades Endurance Speciality
Bermuda’s Endurance Specialty Holdings was upgraded by equities research analysts at Zacks Investment Research from an “underperform” rating to a “neutral” rating in a research note issued to investors today [Nov. 23]. Endurance Specialty Holdings Ltd. is a holding company. Through its operating subsidiaries based in Bermuda, the United... Read more of this article
US Treasury Will Offer “Vigorous Defence”
The US Treasury Department expects to “vigorously” defend its actions in the wake of the near-collapse of American International Group Inc. [AIG] in 2008, it said in a response to a suit by Bermuda-based Starr International Co. Inc. claiming Washington DC’s actions were unconstitutional. In the suit filed Monday [Nov. 21] in the US Court... Read more of this article
Best Revises Outlook For Bermuda’s AXIS
A.M. Best Co. has today [Nov.23] revised the outlook to positive from stable and affirmed the financial strength rating [FSR] of ”A” [Excellent] and issuer credit ratings [ICR] of “a+” of Bermuda-based AXIS Specialty Limited and its operating affiliates. The US ratings agency has also revised the outlook to positive from stable and... Read more of this article
Health Financing Summit Gets Underway
Keynote speaker Ruben Suarez-Berenguela and Minister of Health Zane Desilva yesterday [Nov.21] addressed attendees at the Health Financing Summit which took place at Rosewood Tucker’s Point. The Minister said, “We are here today to ensure Bermuda’s health system measures up to that high standard and provides everyone with equal access to... Read more of this article
NY Grants Approval To Hiscox Bermuda
Hiscox Bermuda — a subsidiary of Hamilton-based international specialist insurer Hiscox Ltd. — announced today [Nov.22] it has been awarded Certified Reinsurer status by the New York Department of Financial Services. Hiscox Bermuda’s secure financial strength rating means it is now permitted to post collateral of 20 percent of loss... Read more of this article
PartnerRe Approves Share Buy-Back
Bermuda reinsurer PartnerRe Ltd. said yesterday [Nov.21] that its board of directors had authorised the company to repurchase up to sevenmillion common shares. The authorisation replaces the company’s prior authorisation, also for seven million shares, approved last December. So far this year, PartnerRe has bought back a total of 3.7 million common... Read more of this article
