Maiden Holdings To Release First Quarter Earnings

Bermuda based Maiden Holdings, Ltd. plans to release first quarter 2012 financial results following the market close on Wednesday, May 2, 2012. Art Raschbaum, Chief Executive Officer, and John Marshaleck, Chief Financial Officer, will review these results via teleconference and live audio webcast on Thursday, May 3, 2012 beginning at 9:00am Bermuda time. Maiden Holdings, [...]

AXIS Capital Announces Management Transitions

AXIS Capital Holdings Limited yesterday [Apr.17] announced the details of management transitions in AXIS Re, which will become effective over the balance of the year. At the end of this year, Karl Mayr [Pictured left], currently CEO and President of AXIS Re Europe, reporting to Jay Nichols, CEO of AXIS Re, will retire as CEO [...]

RIMS Convention & Exhibition In High Gear

The 50th Annual Risk and Insurance Management Society [RIMS] Convention & Exhibition under the umbrella, “50 Years Making Connections” began in earnest on Monday [Apr.16] with registrants from across the globe making their way to the convention floor. In addition to hundreds of exhibitors, numerous sessions offered at RIMS included, Excellence in Risk Management; Healthcare; [...]

Assured Guaranty Responds To Moody’s Ratings

Moody’s Investors Service recently published two sets of reports on Assured Guaranty, parent company of Bermuda based subsidiary Assured Guaranty Re Ltd. In the first report, dated March 20, 2012, Moody’s placed the Insurance Financial Strength ratings of Assured Guaranty Municipal Corp. and Assured Guaranty Corp. on review for possible downgrade, citing lower origination volume, [...]

Premier Attends RIMS Conference In Philadelphia

The Premier and Minister of Finance, Paula Cox is currently attending the 48th Annual Risk and Insurance Management Society [RIMS] Conference & Exhibition in Philadelphia, Pennsylvania. Attendees from more than 50 countries including multinational corporations and international organizations will come together in Philadelphia at RIMS 2012 to learn how to improve their risk programmes and [...]

Business Minister Welcomes New Class 4 Reinsurer

“Official incorporation statistics indicate that over the last five years, eight highly-capitalised reinsurers holding Class 4 licenses issued by the Bermuda Monetary Authority, have selected Bermuda as their domicile,” said a statement from Government. “These formations represent an aggregate of more than $8 billion in fresh capital dedicated to the Bermuda reinsurance industry, which is [...]

PartnerRe Assigned A Negative Outlook

A.M. Best Co. removed from under review with negative implications and assigned a negative outlook to the financial strength rating of A+ [Superior] and issuer credit ratings of “aa-” of Bermuda based Partner Reinsurance Company Ltd. and its affiliates. A.M. Best also has removed from under review with negative implications and assigned a negative outlook [...]

A.M. Best Assigns Ratings To PaCRe Ltd.

A.M. Best Co. today [Apr. 9] assigned a financial strength rating of A- [Excellent] and issuer credit rating of “a-” to newly-formed Bermuda re/insurer PaCRe Ltd. The agency said the outlook assigned to both ratings is stable. The ratings of PacRe are based on its excellent risk-adjusted capitalization, experienced underwriting led by Validus Reinsurance, Ltd. [...]

Premier Hails Bermuda’s OECD Peer Review

Premier and Minister of Finance Paula Cox yesterday [Apr. 8] expressed her pleasure at the results of the most recent assessment report of the Organisation for Economic Cooperation and Development [OECD] Peer Review Group [PRG]. A statement released said, “Bermuda was credited for legislative changes that have demonstrated progress and global leadership in the area of transparency and [...]

ABIR Critical Of Japan’s ‘Uneven Playing Field’

The Association of Bermuda Insurers & Reinsurers [ABIR] and 14 other global business groups yesterday [Apr.6] expressed “deep concerns” over Japan’s commitment to fulfilling its international obligation to provide a level playing field to all insurers and other financial institutions doing business in the Japanese market. In a joint statement, the industry groups said that [...]

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