Hashtag: #BermudaInsurance
AXIS Hurt By Financial Markets Volatility
Bermuda-headquartered AXIS Capital Holdings Limited this week reported net income available to common shareholders for the third quarter of 2011 of $212 million, or $1.66 per diluted common share, compared with $239 million, or $1.78 per diluted common share, for the third quarter of 2010. For the nine months ended September 30, 2011, AXIS Capital reported... Read more of this article
RenaissanceRe Profits Tumble 76%
Bermuda reinsurance company RenaissanceRe Holdings Ltd. this week [Nov. 1] posted a 76 percent drop in third-quarter profit, mainly due to big investment losses during the worst quarter for the markets since the economic crisis. Pembroke-based RenaissanceRe said net income attributable to common shareholders fell to $49.3 million, or 95 cents per share,... Read more of this article
XL Capital: “Progress Continued During Q3″
Headquartered in Ireland and with its executive offices in Bermuda, XL Group plc this week reported its third quarter 2011 results. Commenting on the company’s performance, CEO Mike McGavick said: “Progress continued at XL in the quarter, and our own efforts were joined by a new factor — an improving rate environment. “Our top... Read more of this article
Validus Extends Its Transatlantic Offer
Bermuda’s Validus Holdings Ltd. said today [Nov. 1] it has extended its offer for Transatlantic Holdings Inc. The offer was set to expire at 5 p.m. October 31. The extension lasts until November 25. After ending its merger agreement with Allied World Assurance, New York-based Transatlantic announced it had entered into a confidentiality agreement... Read more of this article
Bermuda Veteran To Head Marsh Division
David Batchelor, a veteran of the Bermuda re/insurance industry, has today [Nov. 1] been appointed head of Marsh’s International Division. The division comprises all of Marsh’s operations outside North America including the Europe; Middle East, Africa [EMEA]; Latin America and Caribbean; Asia; and Pacific regions. Mr. Batchelor, who will... Read more of this article
OneBeacon Unveils New Physicians Policy
OneBeacon Professional Insurance, a member of Bermuda-domiciled OneBeacon Insurance Group, today [Nov. 1] announced that it is expanding its health care offerings to include a stand-alone extended reporting period [ERP] policy for physicians who require claims-made professional liability coverage due to changing employment status or moving from one... Read more of this article
Lancashire Insurance Promotes Fascione
Lancashire Holdings has promoted Simon Fascione to be chief underwriting officer of the company’s Bermuda operation, Lancashire Insurance Company [LICL]. Mr. Fascione has played an instrumental role in the development of LICL’s reinsurance business, and more recently in the launch of Accordion Reinsurance, Lancashire group’s fully... Read more of this article
Analysts Downgrade Endurance Speciality
Bermuda’s Endurance Specialty Holdings was downgraded today [Nov.1] by equities research analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating in a research note issued to investors. Endurance Specialty Holdings Ltd. is a holding company. Through its operating subsidiaries based in Bermuda, the United... Read more of this article
Zacks Reaffirms Everest’s Neutral Rating
Bermuda’s Everest Re Groups stock had its “neutral” rating reaffirmed by equities research analysts at Zacks Investment Research in a research note issued to investors on Monday [Oct. 31]. The analysts currently have a $95.00 price target on the stock. Zacks’ analyst wrote, “Everest Re’s third quarter 2011 earnings came substantially... Read more of this article
PartnerRe Reports Q3 & Nine Month Results
Bermuda’s PartnerRe Ltd. yesterday [Oct.31] reported net income of $180.1 million, or $2.43 per share on a fully diluted basis for the third quarter of 2011. This net income includes net after-tax realised and unrealised gains on investments of $6.2 million, or $0.09 per share. Net income for the third quarter of 2010 was $524.9 million, or $6.76... Read more of this article
Argo Insurance Launches Landscape Policies
Bermuda’s Argo Insurance will offer a slate of property and casualty lines of insurance specialty tailored towards US landscape and arborist contractors [Oct. 31]. Argo has formed a partnership with First Capital/Arrowhead Wholesale Insurance Services in order to offer coverage for property, crime, inland marine, commercial auto and excess risk. First... Read more of this article
Website’s Critical Analysis Of EIOPA Report
While Japan and Switzerland meet the equivalence criteria for Europe’s Solvency II regime “with caveats” , Bermuda still has considerable work to do before it’s likely to be granted equivalency according to an analysis by the financial news website Risk.net. Risk.net said today [Oct. 31] the European Insurance and Occupational... Read more of this article
