News
SEC accounting probe provokes RenRe staff resignations
RenaissanceRe Holdings has announced the resignation of James Stanard, chairman and chief executive,...
Converium restates profits
Converium has announced that it is to restate its profits as it carries out an extensive internal re...
EU reinsurance directive approved
EU reinsurance directive
Montpelier Re reveals massive hurricane losses
Montpelier Re Holdings has reported a net loss of $875.1m for the three months to 30 September 2005,...
TRIA bill - US Senate passes TRIA extension bill
The US Senate has passed a bill to continue a programme of federal guarantees to cover losses from t...
New reinsurers - Bermuda reinsurer deluge continues
Bermuda hedge fund management company West End Capital is about to launch a new reinsurer, Flagstone...
Offshore reinsurance - Greenlight Capital Re arrives in the Cayman Islands
Investment manager Greenlight Capital has formed a new offshore reinsurance company, Greenlight Capi...
Ratings review - Rating agencies downgrade RenRe
Moody's Investors Service has lowered the senior debt rating on RenaissanceRe Holdings to Baa1 from ...
Moody's report weighs impact of Hurricane Wilma
Moody's has published a new report concluding that the add-on losses of Hurricane Wilma - one of the...
Underwriting team - Amlin Bermuda announces team
Amlin has announced that the underwriting team for its new $1bn Amlin Bermuda operation will be head...
Start-ups beware: does GE know something you don't?
Mark Geoghegan thinks that Swiss Re's purchase of GE Insurance Solutions (GEIS) shows that a soft market could reassert itself much faster than anyone currently imagines
New start-ups
Here is the full list of start-ups so far: BAAAFHHLNVCCG A stream of new start-up reinsurers, includ...
Asbestos agreement - Equitas agrees deal with GM
Equitas and General Motors Corporation have reportedly reached a comprehensive settlement agreement....
Ratings thumbs-up for Bermudian reinsurer New Castle Re
AM Best has assigned a financial strength rating (FSR) of A- (Excellent) and an issuer credit rating...
AIG delays report after discovering $500m hole in accounts
American International Group (AIG) has announced it will delay the filing of its Form 10-Q for the q...
Company relocation - Hiscox mulls over Bermuda move for parent company
Hiscox, one of the leading players in the Lloyd's market, is considering moving its parent company t...
Company acquisition - New Bermuda reinsurer to pick up Chubb business
Stone Point Capital has formed Harbor Point, a global reinsurance company that will be based in Berm...
Swiss Re acquires GEIS
Swiss Re has agreed to acquire GE Insurance Solutions (GEIS), the fifth largest reinsurer worldwide,...
US reviews national catastrophe insurance
US Catastrophe insurance summit
APRA paper discusses standards reforms
General insurance reform proposals
O’Hara puts brave face on WI setback and reveals “significant” equity funding plans
President and CEO of Bermudian (re)insurer XL Brian O'Hara, has described the draft Actuary’s report in connection with the Company's acquisition of Winterthur International (WI) 2001 as “disappointing” whilst outlining and XL's planned capital…
XL names new Bermudian start-up Cyrus Re
XL has revealed the identity of its new start-up property catastrophe reinsurance retrocessionaire as Cyrus Re, domiciled on Bermuda, with initial capital of $500m.
Fitch affirms XL Capital ratings
Fitch Ratings has affirmed the ratings of XL Capital (XL) and its property/casualty (re)insurance subsidiaries, including the 'A-(A minus)' Long-term issuer rating for XL, and the 'AA-(AA Minus)' Insurer Financial Strength ("IFS") rating of lead (re…
Advent ups Katrina loss by 46%, to raise £30m in equity
Lloyd's property catastrophe reinsurer Advent Capital has today announced sharply increased loss estimates for losses arising from the 2005 Hurricane season and an £30m ($53m)equity issue.