Hashtag: #FlagstoneReinsuranceHoldingsLtd
A.M. Best Upgrades Ratings Of Flagstone Re
Ratings agency A.M. Best Co. has upgraded the financial strength rating to A [Excellent] from A- [Excellent] and the issuer credit rating to “a” from “a-” of Flagstone Reassurance Suisse S.A. The outlook for both ratings is stable. A statement from the ratings agency said, “The rating upgrades reflect FRS’ excellent level of risk-based capitalization,... Read more of this article
Flagstone Reinsurance Delists From The BSX
The Bermuda Stock Exchange [BSX] confirmed the voluntary delisting, from the BSX, of Flagstone Reinsurance Holdings Ltd. On 30 November, 2012, Validus Holdings Ltd., a Bermuda exempt company, completed its acquisition of Flagstone Reinsurance Holdings Ltd., pursuant to an agreement and plan of merger dated 30 August, 2012. Related Stories Flagstone... Read more of this article
Validus Holdings to Acquire Flagstone Re
Bermuda-based Validus Holdings, Ltd.and Flagstone Reinsurance Holdings, S.A. confirmed today [Aug 30] that the boards of directors of both Validus and Flagstone have approved a definitive merger agreement pursuant to which Validus will acquire all of the issued and outstanding shares of Flagstone. Under the terms of the agreement, Flagstone shareholders... Read more of this article
Flagstone Declares $0.04 Quarterly Dividend
Flagstone Reinsurance Holdings, S.A. announced today [May 18] that its Board of Directors declared a quarterly dividend of $ 0.04 per Common Share. The dividend is payable on June 15th, 2012 to shareholders of record at the close of business on June 1st, 2012. Related Stories Compre Redomiciles To Bermuda AM Best Downgrades Evergreen’s Ratings Abacus... Read more of this article
Flagstone To Sell Lloyd’s Operation For $48M
Bermuda’s Flagstone Reinsurance Holdings said today [Apr.3] it will sell its Lloyd’s operations to specialty insurance business ANV Holdings BV for about $48 million in cash. Bermuda Flagstone will also release about $162 million in underwriting capital that is currently supporting the unit’s operations. Flagstone’s Lloyds segment... Read more of this article
Flagstone Re Quarterly Dividend
Flagstone Reinsurance Holdings announced that its Board of Directors declared a quarterly dividend of $ 0.04 per Common Share. The dividend is payable on March 27th, 2012 to shareholders of record at the close of business on March 19th, 2012. The Company is traded on the New York Stock Exchange under the symbol “FSR” and the Bermuda Stock... Read more of this article
Flagstone: ‘We Have Put 2011 Behind Us’
Flagstone Reinsurance Holdings SA — the Luxembourg-based firm which maintains its executive offices and other operations in Bermuda — swung to a fourth-quarter loss as a series of back-to-back global catastrophes in 2011 impacted on the reinsurer’s results. Flagstone reported today [Feb. 22] fourth quarter 2011 basic book value per... Read more of this article
Flagstone Estimates Thai Floods: $13-18M
Flagstone Reinsurance Holdings, S.A. announced the impact on 2011 fourth quarter results from continuing operations is estimated to be $50 to $55 million, net of reinstatement premiums and retrocession. The Company’s preliminary estimates for losses from flooding in Thailand during the third and fourth quarter of 2011 is expected to negatively impact... Read more of this article
Mark Byrne Terminates Omega Bid
Haverford, Bermuda, Ltd. today [Dec. 23] formally terminated its bid to acquire a 25 percent stake in Omega Insurance Holdings Ltd. following the rejection of a revised partial cash offer of 74 pence per share, announced earlier this month. Omega Insurance had announced its rejection on December 15, 2011. Earlier, HBL had made a partial cash offer... Read more of this article
Executive Questions Bermuda’s Future
While a recent report A.M. Best report gave a “cautiously optimistic” appraisal on the state of the Bermuda re/insurance market, there may be deeper concerns on the horizon for the island a leading industry executive has said. In an interview with the “Insurance Journal”, Chief Executive of Bermuda’s Torus International... Read more of this article
Omega Insists Haverford Deal Proceed
London insurer Omega insisted this afternoon [Dec. 2] rival Haverford go ahead with a $78.4 million deal to buy 25 percent of its shares after its Bermuda suitor said the agreement was no longer valid and it wanted a cheaper price. Omega Insurance Holdings Ltd. “sees no reason why the offer would not proceed” said in a statement. Haverford,... Read more of this article
SkyNews: Omega Set For Byrne Battle
Omega Insurance faces a battle to force Bermuda-based re/insurance tycoon Mark Byrne to honour a deal to pay £50 million to become its second-largest shareholder, Britain’s SkyNews says today [Nov. 30]. The British TV network’s business editor Mark Kleinman reports Haverford, the Bermuda vehicle controlled by Mr. Byrne, today tabled a fixed-price... Read more of this article
