INSURANCE
Majestic credit rating drops
Credit rating A.M. Best downgraded the financial strength rating of Majestic Insurance Company from B++ (Good) to B (Fair), it was announced on Monday.
Argus Malta firm relocates
The Argus Group announced on Wednesday that its Malta company, Fogg Insurance Agencies, is moving into new offices in Ta'Xbiex.
BMA launches insurance industry workshops
The Bermuda Monetary Authority is launching a series of awareness sessions and technical workshops targeted to Bermuda's insurance sector. The first session is on Wednesday.
Official take-off of Allied World's new syndicate
Allied World Assurance launched Syndicate 2232 on Thursday, named after British Airways' Bermuda to London flight. It expects to write $120 million in business this year.
Seminars a success
Business Bermuda celebrated the successful conclusion of its monthly lunchtime seminar series on Tuesday. A new schedule of events will begin in the fall.
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May 4: Business briefs
PartnerRe Ltd has estimated that the Tohoku earthquake in Japan will cost the company $730 million.
KRyS Global hires director
KRyS Global has appointed Patrick McPhee as the new managing director of its Bermuda office.
Bermudian lawyer joins Appleby
Appleby has welcomed Bermudian lawyer Sophie Tod to its private client team as a senior associate.
Iron-Starr announces capacity increase
Ironshore Inc. announced on Wednesday an increase in capacity to $25 million for the Financial Lines division of Iron-Starr Excess Agency, Ltd.
XL plans Global Day of Giving
XL Group will hold its sixth Global Day of Giving on Monday. The employee volunteer day is dedicated to supporting communities in which the companies operate.
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Prime becomes a BSX listing sponsor
Prime Management has been approved as a listing sponsor with the Bermuda Stock Exchange, effective May 9.
Montpelier rating up from stable to positive
AM Best has revised the outlook of Bermuda-based Montpelier Reinsurance from stable to positive. They also affirmed a financial strength rating of A- (Excellent).
OneBeacon declares $1.21 dividend
OneBeacon Insurance Group declared a combined regular and special dividend of $1.21 per share on Wednesday.
ABIR supports natural disaster protection legislation
Bermuda insurers and reinsurers announced their support on Thursday for hazard mitigation legislation introduced in the US to provide tax credit to low-income homeowners.
Learning how to deal with the international media
Business Bermuda recently concluded a two-day series of hour and a half training sessions focused on interacting with international media while promoting Bermuda.
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