Hashtag: #FlagstoneReinsuranceHoldingsLtd

A.M. Best Upgrades Ratings Of Flagstone Re

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

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 AM Best... Read more of this article

Validus Holdings to Acquire Flagstone Re

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 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 BermudAir To Launch Flights To Canada Everen... Read more of this article

Flagstone To Sell Lloyd’s Operation For $48M

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 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: ‘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 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

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

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

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

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

SkyNews: Byrne Wants ‘Cut-Price’ Deal

SkyNews: Byrne Wants ‘Cut-Price’ Deal

The business editor of Britain’s SkyNews is today reporting that Bermuda-based insurance tycoon Mark Byrne [pictured] is pushing “for a cut-price deal to muscle his way into the boardroom of one of the largest operators in the Lloyd’s of London insurance market.” Sky’s Mark Kleinman reports that Mr. Byrne — who co-founded Flagstone... Read more of this article

Flagstone Directors Declare Dividend

Flagstone Directors Declare Dividend

Flagstone Reinsurance Holdings, S.A. — registered in Luxembourg but with its executive offices in Bermuda — yesterday [Nov. 25] announced that its board of directors declared a quarterly dividend of $ 0.04 per common share. The dividend is payable on December 15, 2011 to shareholders of record at the close of business on December 5, 2011. Flagstone... Read more of this article

Flagstone Reports $59.5M Third Quarter Loss

Flagstone Reports $59.5M Third Quarter Loss

Flagstone Re — based in Luxembourg but with its executive offices and prime underwriting platform in Bermuda — has swung to a net loss of $59.5 million in the third quarter from a net profit of $37.3 million for the same quarter last year. The reinsurer’s net premiums written during the period fell 23.3% year on year to $122.2 million,... Read more of this article

The 9/11 Attacks & Bermuda’s Class Of ’01

The 9/11 Attacks & Bermuda’s Class Of ’01

The tenth anniversary of the September 11 terror attacks on the US last month provided time for reflection on how the world has changed for good and ill since then, the “Financial Times” reported this week — saying both Bermuda and the global insurance industry were altered beyond recognition by those events. Osama bin-Laden’s... Read more of this article