Reinsurance
QBE ratings affirmed
A.M. Best has affirmed the financial strength rating of A (Excellent) and issuer credit rating of “a+” of QBE Insurance International Australia and QBE Reinsurance (Europe).
Despite raft of new entants, Benfield predicts reinsurance capacity constraints in 2006
Reinsurance broker Benfield Group this morning said that depsite significant new capital entering the reinsurance market last year, its impact on year end renewals was muted.
Stress factors must not be overlooked
Hone v Six Continents Retail (Court of Appeal - 26 June 2005)
Eight years ago
Looking back Last week, Post Magazine reported how the Serious Fraud Office has bought charges agains...
RenRe promotes internally for Glencoe CEO
Bermudian (re)insurer, RenaissanceRe has announced that William J. Ashley has been promoted to CEO of Glencoe Group., RenaissanceRe's individual risk business, which includes primary insurance and quota share reinsurance lines.
Aspen PIERS issue well-received
Bermdian (re)insurer Aspen has announced today that it closed the sale of an additional 600,000 perpetual preferred income equity replacement securities ("Perpetual PIERS") following the exercise in full of the over-allotment option held by the…
FSCS declares 39 firms in default
The Financial Services Compensation Scheme has declared 39 firms in default in its latest statement. Please find below a list of the latest firms to be declared in default.
Amlin premiums up 10% during reinsurance renewals
Amlin plc (‘Amlin’) today released the following statement on current trading conditions and comments on the trading period just ended.
Montpelier adds another $100m in capital
Bermudian reinsurer Montpelier Re has announced that it has raised $100m through a private sale of trust preferred securities.
Insurer to double network
Multi-lines insurer Bluesure has told Post Magazine it has plans to increase its network of brokers ...
Appointment at Integro
Integro has appointed Ben Fidlow as principal and head of the company's risk modelling and actuarial...
Wilkins sells shares
Kevin Wilkins, active underwriter of Atrium Syndicate 570, sold 500,000 ordinary shares in the compa...
Climate conundrum
As we go into the new year, our thoughts are often with resolutions and what we are going to do to m...
S&P rates Flatiron Re
Standard & Poor's Ratings Services has assigned a 'BBB-' counterparty credit rating to Flatiron Re and its 'BB+' senior secured debt rating to Flatiron Re's $256m term loan facility. S&P also said that the outlook on Flatiron Re is stable.
PXRE changes CFO
Bermudian reinsurer PXRE Group has announced that Robert P. Myron, the Company's Senior Vice President & Treasurer, has been named Executive Vice President, Chief Financial Officer & Treasurer of the Company.
Montpelier puts $133m into $300m Blue Ocean Re start-up
Montpelier Re has announced that it has joined with other investors in capitalising a new Bermuda reinsurer, Blue Ocean Reinsurance.
Lloyd’s underwriter sells more than half his shares for $1.69m
Lloyd’s (re)insurer Atrium has reported that Kevin Wilkins, active underwriter of its syndicate 570, has sold 500,000 ordinary shares in the company at a price of £1.93 ($3.38) per share.
Lloyd's rating stable despite concern over risk concentration
Fitch Ratings has affirmed Lloyd's Insurer Financial Strength rating at 'A'. At the same time, Fitch has affirmed ratings for the Society of Lloyd's and its subordinated debt issue, details of which are listed below. The Outlooks on the IFS and Long-term…
Capital still eying Bermuda reinsurance market, claims report
Despite record 2005 hurricane losses, the Bermuda reinsurance market remains attractive to capital according to the latest Bermuda Reinsurance Quarterly Report from Benfield’s Industry Analysis and Research Team entitled ‘Capital Carousel’.
Goshawk Mark III gets started
The reincarnation of failed Bermuda reinsurer Rosemont Re, Ariel Reinsurance has commenced underwriting following a $1bn capital injection.
Ariel Re opens with an A- from AM Best
Ariel Reinsurance has started underwriting as a Class 4 Bermuda licensed reinsurer following $1bn funding from its parent company, Ariel Holdings and the awarding of an A- (Excellent) rating from AM Best.
Willis welcomes TRIA extension
Joe Plumeri, chairman and CEO of Willis has welcomed US congressional action to extend the Terrorism Risk Insurance Act (TRIA) for a further two years.
Hiscox Bermuda given A- rating by AM Best
A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating (ICR) of “a-” to Hiscox Insurance Company (Bermuda) a newly capitalised Bermudan insurer. The outlook on both ratings is stable.
Lancashire starts underwriting with A- from AM Best
AM Best Company has formally granted new Bermudian reinsurance start-up Lancashire Insurance Company a Financial Strength Rating of A- (Excellent).