Bermuda
BMS revenues rise 10% in 2009
Reinsurance broker BMS has reported an underlying profit of £9.2m in 2009.
Alterra insurance chief to retire
Alterra Capital has announced that Angelo Guagliano, president and CEO of Alterra Insurance, will retire at the end of May.
Bryne steps down as Flagstone chairman
Flagstone Re has announced that Mark Byrne has decided to step down as chairman of the board of directors of Flagstone while continuing to serve as a non-executive member of the board of directors of the company.
Flagstone adds $50m to buyback program
Flagstone Reinsurance said on Tuesday that its board has added $50m to its share-repurchase program.
Omega sees Q1 GWP growth
(Re)insurer Omega Insurance Holdings has reported an 18% growth in GWP for the first quarter of 2010 to $124.5m (2009: $105.5m.)
Reinsurers being pushed into M&A – Becker
Marty Becker, chief executive officer of Alterra Capital, said reinsurers are pushed to consider mergers and acquisitions by clients and investors, who prefer carriers with larger capital bases.
Amlin GWP rise
Amlin has reported gross written premium (before deduction of brokerage) rose 32.1% for the four months ended 30 April 2010 to £964.0m (30 April 2009: £729.7m).
Max and Harbor Point become Alterra
The closing of a merger of equals between Max Capital Group and Harbor Point has finalised with the resulting company to begin trading as Alterra.
PartnerRe promotes Miranthis to president and COO
PartnerRe has announced it is to promote Costas Miranthis to the position of president and COO, following the retirement of CEO Patrick Thiele. The move is subject to approval by Bermuda immigration.
Amlin benefits from ACI acquisition with 32.1% hike in GWP
Amlin this morning reported gross written premium (before deduction of brokerage) was up 32.1% for the four months ended 30 April 2010 at £964.0m (30 April 2009: £729.7m).
Allied World appoints new US claims head
Allied World US has announced that Mark Rosen, executive vice president & chief claims officer will retire in June. Julianne Splain, VP of professional and management liability claims has been promoted to senior VP and will assume responsibility for the…
PartnerRe appoints new chairman
PartnerRe announced that following his re-election as a director, Jean-Paul Montupet has been named as chairman of its board. Mr Montupet replaces John Rollwagen, who was also re-elected as a director and will remain a member of the board.
Antares appoints non-executive director
Antares has appointed Ewen Gilmour as non-executive director of Antares Holdings, the group's Bermuda-based holding company.
Oil spill costs Catlin $40m
Catlin has estimated its exposure to the Deepwater Horizon oil disaster is approximately $40m (£27m) net of reinsurance and reinstatements.
Hiscox to enter aviation as it reports £10m Deepwater hit
Hiscox’s gross written premiums grew year on year by 6.4% in local currencies to £504.1m in quarter one 2010(2009 Q1: £486.5 m).
Ironshore completes $250m debt offering
Ironshore has announced that it completed the private offering of 8.50% senior notes due 2020.
Allied World Q1 profits rise
Allied World saw its profits rise by over $2m during the first quarter of 2010 despite continued competition on pricing and catastrophe losses.
PartnerRe Q1 results dip
PartnerRe has reported net income of $79.7m for the first quarter of 2010 in comparison to $141.4m in Q1 2009.
Validus reports loss of $118.4m in Q1
Validus Holdings has reported a net loss of $118.4m, or ($0.95 per diluted common share) for the three months ended 31 March 2010, compared with net income of $94.9m, or $1.20 per diluted common share, for the three months ended 31 March 2009.
Amlin retains AM Best rating
AM Best has commented that the ratings of Amlin and its operating subsidiaries are unchanged.
Max Capital net income down $8.1m
Max Capital has reported net income of $36.4m for the first quarter, compared to net income of $44.5m for the first quarter of 2009.
Amlin set to establish Swiss reinsurer
Amlin is to establish a reinsurance company in Switzerland to provide European reinsurance buyers with Amlin`s first-class security and service delivery.
Lancashire suffers Q1 profit slide
Speciality underwriter Lancashire holdings has reported net post tax profit of $8.2m (£5.4m) for the first quarter of 2010 – a fall of almost 80% on $40.7m profit of Q1 2009, partially impacted by the Deepwater Horizon incident.
Max Capital puts low cat loss down to "conservative underwriting"
Max Capital has reported net income of $36.4m for the quarter ended 31 March, compared to net income of $44.5m for Q1 2009.