Hamilton, Bermuda

Argo just beats estimates as reserves buoy Q4 results

2018-02-14T09:14:00+00:00

Argo Group has defied analyst predictions to deliver a modest $0.3mn fourth quarter operating profit as reserve releases and revised catastrophe loss estimates bolstered the bottom line.

Bermuda, waterfront

Arch beats estimates as profits surge

2018-02-13T08:53:00+00:00

Arch Capital delivered an expectation-topping $187.4mn operating profit in the fourth quarter as it dodged significant losses from the catastrophes that plagued the industry in the final months of 2017.

Allianz logo

JP Morgan makes U-turn on $14bn Allianz–XL deal outlook

2018-02-09T10:44:00+00:00

After initial scepticism, JP Morgan now says Allianz’s rumoured bid for Bermudian XL Group could make sense for the German heavyweight’s shareholders even at a hefty take out price of $14bn - or around $54 a share.

Hamilton Bermuda

AIG forms massive $40bn Bermudian legacy vehicle

2018-02-09T08:38:00+00:00

US insurance giant AIG has announced the creation of an enormous Bermuda-based legacy platform.

Chris o'kane aspen

Aspen’s O’Kane ‘ruling nothing out’ regarding M&A

2018-02-08T17:18:00+00:00

The CEO of Bermudian (re)insurer Aspen Chris O’Kane has said the (re)insurer is “open minded” to a strategic review that could ultimately lead to a sale process.

Mike McGavick, XL Group

XL, Aspen and the M&A barometer

2018-02-08T16:13:00+00:00

As XL Group’s share price spiked over 12 percent last night in the midst of Softbank’s bold wade into the (re)insurance arena with a mooted minority stake in Swiss Re, the industry’s M&A speculation barometer shot through the roof.

Bermuda 0311

Aspen loss better than expected but ‘well below’ acceptable levels

2018-02-08T08:16:00+00:00

Aspen has delivered a $178.1mn fourth quarter operating loss that was not as bad as analysts had expected but still “well below acceptable levels” according to the Bermudian’s chief exec Chris O’Kane.

Hamilton, Bermuda

XL shares soar as Wall Street acquisition rumours reach fever pitch

2018-02-07T23:44:00+00:00

Shares in XL Group were trading up by more than 12 percent as markets closed on Wednesday after reports that potential acquirers were circling the Bermuda-headquartered group.

Everest Re

Valuations further deter Everest Re from large-scale M&A

2018-02-07T17:50:00+00:00

Everest Re shares up almost ten percent since 4Q earnings. Re-Insurance’s summary of the Everest Re 6 February investor call.

217 everest-sign

Everest Re smashes estimates as reserve releases buoy Q4 results

2018-02-06T08:15:00+00:00

Everest Re defied analyst estimates to deliver a $556mn fourth quarter profit that climbed by more than half compared to last year as reserve releases and a reduction in catastrophe loss estimates bolstered the bottom line.

Hamilton, Bermuda

Enstar takes control of KaylaRe in stake swap

2018-02-05T14:49:00+00:00

Enstar has swapped a portion of its own equity to take control of total return reinsurer KaylaRe.

Hamilton bermuda.900px

Barbican launches Bermuda platform with former Novae team

2018-02-05T13:13:00+00:00

Lloyd’s insurer Barbican has developed a Bermuda platform to source property business for its Syndicate 1955 staffed by former Novae underwriters.

Mike McGavick

XL Group beats analyst expectations despite drop in profits

2018-02-02T16:07:00+00:00

XL Group saw operating profits fall by nearly 10 percent to 116.1mn in the fourth quarter.

Dominic Silvester

Enstar snags $1.1bn Novae legacy book

2018-01-29T15:46:00+00:00

Enstar has won a bidding war to take on Novae’s £840mnn ($1.1bn) legacy book, the company announced today (29 January).

Chris O'Kane

Aspen expects $245mn Q4 UW loss as California losses bite

2018-01-26T11:40:00+00:00

Bermudian carrier Aspen is set to post a $245mn underwriting loss for the fourth quarter including some $135mn of pre-tax losses net of reinsurance due to wildfires in California, the company announced last night.

Cali wildfires

Argo’s Q4 losses higher than expected

2018-01-24T12:01:00+00:00

Argo surprised analysts by announcing that its fourth quarter catastrophe losses were likely to be between $34mn and $38mn.

Ed Noonan

Noonan to walk away from Validus with $82.4mn

2018-01-22T13:56:00+00:00

Validus chairman and CEO Ed Noonan (pic) is set to walk away from the firm with $82.4mn in his pocket following AIG’s blockbuster deal to buy the Bermudian carrier.

Validus

AIG purchases Validus for $5.56bn cash

2018-01-22T16:50:00+00:00

AIG has struck a deal to acquire Ed Noonan’s Validus for $68 per share in a $5.56bn all-cash transaction, the company announced today (22 January).

Kevin O'Donnell

RenaissanceRe takes minority stake in Catalina

2018-01-19T10:33:00+00:00

Bermudian reinsurer RenaissanceRe has signed a definitive agreement to acquire a minority stake in Catalina.

Qatar Re CEO Gunther Saacke

Qatar Re seals regulatory approval for UK branch

2018-01-11T11:28:00+00:00

UK regulators have given the green light for Qatar Re to begin operations out of its newly-minted London branch.