Hashtag: #FlagstoneReinsuranceHoldingsLtd
Flagstone Announces Corporate Overhaul
Flagstone Reinsurance Holdings, S.A. — registered in Luxembourg but with its executive and underwriting offices in Bermuda — today [Oct. 24] announced a number of strategic initiatives designed to realign the company’s strategy and core capabilities. Through these initiatives, Flagstone intends to refocus its underwriting strategy... Read more of this article
Flagstone Reinsurance Realigns Management
Flagstone Reinsurance Holdings announced that Gary Prestia [pictured] has been appointed Chief Executive Officer of Flagstone Representatives (US) Inc., and Chairman of Mosaic NY, effective September 1st, 2011. Mr. Prestia will be stepping down as Chief Underwriting Officer – North America at Flagstone Réassurance Suisse SA and underwriting responsibilities... Read more of this article
Flagstone Estimate U.S. Storms: $25-30m
Flagstone Reinsurance Holdings announced its preliminary estimates for losses occurring in the second quarter of 2011. Losses related to the severe weather activity in the United States that occurred in April and May 2011, are expected to be $25-$30 million, net of reinstatement premiums and retrocession. Their estimated loss is based on an industry... Read more of this article
Flagstone Re Declares Quarterly Dividend
Bermuda based re/insurer Flagstone Reinsurance Holdings announced that its Board of Directors declared a quarterly dividend of $ 0.04 per Common Share. The dividend is payable on June 15th, 2011 to shareholders of record at the close of business on June 1st, 2011. Related Stories BTC Sale To Barrie Holdings Ltd. Completed Banker Larry Slaughter Joins... Read more of this article
Flagstone Japan Estimate: $80 – $130 million
Flagstone Reinsurance Holdings today [Mar.30] announced that its preliminary estimate for losses related to the March 2011, earthquake and tsunami in the Tohoku region of Japan is expected to be between $80 to $130 million net of reinstatement premiums and retrocession. The Company’s estimated loss is based on an estimated industry loss of between... Read more of this article
Flagstone: Australia Disaster Estimates
Flagstone Reinsurance Holdings, S.A. — which has a significant Bermuda presence – today [Feb. 28] announced that its preliminary estimate from loss events that have occurred in Australia in the first quarter of 2011 is expected to be between $60 to $80 million, net of reinstatement premiums and retrocession. These events — estimated... Read more of this article
NZ Quake Costs Could Exceed $12 Billion
New Zealand’s most destructive earthquake since the 1931 Hawke’s Bay temblor killed more than 250 people may end up being the most expensive natural disaster for global re/insurers in three years, according to estimates JPMorgan Chase & Co. issued today [Feb. 22] — further impacting on earnings of Bermuda companies still counting... Read more of this article
NZ Quake Rocks Bermuda Reinsurer Shares
Bermuda reinsurers will experience aftershocks from the 6.3-magnitude earthquake which devastated parts of the New Zealand city of Christchurch yesterday [Feb.21], killing more than 60 people. “It is just a scene of utter devastation,” New Zealand’s Prime Minister John Key said. “We may well be witnessing New Zealand’s... Read more of this article
Flagstone Announces Australian Losses
Flagstone Reinsurance Holdings SA, which has its executive offices in Bermuda, announced yesterday [Feb.7] its loss estimate due to the flooding in Australia that occurred in December, 2010 [pictured], is expected to be $10 million, net of reinstatement premiums and retrocession. In January, 2011, subsequent flooding occurred in large areas of Australia;... Read more of this article
Housley Joins Flagstone Lloyd’s Venture
Flagstone Reinsurance Holdings, S.A. announced today [Jan. 24] that effective February 1st and subject to UK Financial Services Authority approval, Richard Housley will become underwriting director of Flagstone Syndicate Management Limited (FSML), managers of Syndicate 1861 at Lloyd’s. Established on the island in 2005, Flagstone reincorporated in... Read more of this article
Flagstone Ups Quake Estimate to $75 Million
Yesterday (Dec 30) Bermuda based Flagstone Reinsurance Holdings has updated its estimate of claims relating to its exposure to the earthquake in New Zealand from $52.5 million to $75.5 million net of reinstatement premiums and retrocession. Flagstone’s loss estimate is based on its proprietary modeling analysis, the assessment of individual treaties... Read more of this article
Flagstone Buys Coverage from Montana Re
Flagstone Reinsurance Holdings, S.A. — which has its executive offices in Bermuda — announced today (Dec. 23) that Flagstone Réassurance Suisse SA, has purchased three years of fully collateralised retrocessional coverage from Montana Re Ltd., a special purpose reinsurer in the Cayman Islands. Montana Re offers Flagstone protection on... Read more of this article
Flagstone Marks Fifth Anniversary
Flagstone Reinsurance Holdings, S.A. celebrates its fifth anniversary this week, one of the so-called post-Katrina Bermuda start-up firms which has evolved into a major industry power player. Flagstone, set up in the wake of the market dislocation caused by Hurricane’s Katrina, Rita, and Wilma in 2005, began in Bermuda in December, 2005 with $550... Read more of this article
Mark Byrne Leaves Flagstone Board
Bermuda-based Flagstone Reinsurance Holdings, S.A. today (Dec.8) announced that Mark Byrne (pictured), Flagstone co-founder and former executive chairman, has decided to retire as a member of the company’s board of directors. “As one of our founders and executive chairman, Mark was instrumental in establishing and building Flagstone into the company... Read more of this article
Flagstone & Everest Declare Dividends
Bermuda-based reinsurers Flagstone Re and Everest Re have declared their quarterly dividends, to be payable next month. Flagstone Reinsurance Holdings announced that its Board of Directors declared a quarterly dividend of $ 0.04 per Common Share, and Everest Re Group Ltd. announced that its Board of Directors declared a dividend of $0.48 per share In... Read more of this article
FlagstoneRe Chairman Mark Byrne Steps Down
Flagstone Reinsurance Holdings said company co-founder Mark Byrne is stepping down as chairman, but will remain on the board as a nonexecutive member. Daniel James, a director of the Flagstone board since its inception, will succeed Mr. Byrne as chairman. Co-founder David Brown, who has served as Flagstone’s chief executive officer since the company’s... Read more of this article
