Hashtag: #FlagstoneReinsuranceHoldingsLtd
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 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 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 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
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
