May 22: Business Briefs

Endurance 

Joseph Rainone will join Endurance Specialty Holdings Ltd. Next week.

Mr Rainone will be appointed executive vice president and head of Endurance’s new Excess Casualty — E&S insurance unit.

HSBC

John L. Thornton, an independent non-executive director of HSBC Holdings plc has decided in view of recent expanded responsibilities within his other business interests not to seek re-election to the Board of HSBC at the AGM on May 24, and to resign his chairmanship of HSBC North America Holdings Inc. with effect from the same date. 

Delisting

Global Investment Basket Limited has voluntarily de-listed from the Bermuda Stock Exchange effective May 6, 2013. Also voluntarily delisting upon maturity from the BSX was Lodstone Re Ltd — Series 2010-1 Classes A & B — Principal At-Risk Variable Rate Notes effective May 17, 2013. 

Axis

AM Best Co. has assigned a debt rating of “bbb-” to the $200 million 5.5% Series D non-cumulative redeemable preferred shares of AXIS Capital Holdings Limited. The outlook assigned to the rating is positive.