INSURANCE
Insurance firm's $50k gift to adult school
Ariel Reinsurance Company has donated $50,000 to the Adult Education School to help Bermudians improve their employment prospects.
Customers rank Bermuda's insurance, banking and telecommunications firms
Customers have ranked Freisenbruch-Meyer and Capital G tops in insurance and banking service in a survey. M3 Wireless and CellularOne tied in the cellphone sector.
XL reports profits
XL Group had a net income of $585.5 million for 2010.
Insurer Catlin earns $406m pre-tax profit
Insurance group Catlin announced pre-tax profit for 2010 of $406 million on Thursday — down almost $200 million from 2009.
Gerova CEO, chairman and four others resign
Gerova Financial Group, Ltd. accepted the resignation of four members of its board of directors as well as its acting CEO and president.
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Gerova's would-be new boss withdraws
Dennis Pelino has withdrawn his name for consideration as chairman and president of Gerova Financial Group
NYSE halts trading in Gerova
The New York Stock Exchange halted trading in Gerova Financial Group on Tuesday.
A.M. Best downgrades Argus credit rating
Credit rating agency A.M. Best downgraded the financial strength of the Argus Group, it was announced on Wednesday. The insurer slipped from A- (Excellent) to B++ (Good).
Insurance company chief appointed Business Bermuda chairman
David Cash, CEO of Endurance, has been named chairman of the board of directors of Business Bermuda. He replaces Vicki Coelho.
Japan disaster insurance claims tipped to hit $10 billion
Damages of $10 billion are estimated for the Japanese tsunami but the Association of Bermuda Insurers & Reinsurers said on Friday firms won’t know the an accurate figure for 30 days.
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March 16: Business Briefs
Two insurance companies, Signal Risk and Heverford, were granted licences to operate on the island by the Bermuda Monetary Authority in February.
Argus staff raise $4k for charity
Argus staff raised $4,169 for the Family Centre, the firm said on Thursday. At least 80 per cent of workers took part in Denim Days on the last Friday of the month for a year.
Bermuda's multi-billion bill for global disasters
Japan's earthquake and tsunami could be the world's secondly most costly disaster with losses of $60 billion, insurance analyst Barrie Cornes said on Thursday.
March 23: Business Briefs
Axis Capital holdings said on Monday that the Australian floods and New Zealand earthquake would cost the business between $275-415 million.
Alterra approved as an 'eligible reinsurer'
Alterra Bermuda Ltd. received approval to qualify as an "eligible reinsurer" from Florida regulators on Monday.
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