Managers of Wealth Offshore

AM Best affirms IGI's financial strength rating

The group’s balance sheet strength is further supported by its strong liquidity position and conservative investment portfolio.

Notice: CIBC FirstCaribbean Increasing Monthly Minimum Balance Fees

CIBC FirstCaribbean will be adjusting the minimum balance threshold and the monthly minimum balance fee on Business Current and Business Call products for all currencies.

Retail sales volume declined 0.5% year-over-year to June

Sales volume for food stores fell 4.4 per cent, liquor stores' sales volume fell 6.2 per cent, service stations' sales volume decreased 0.4 per cent, and the sales volume at apparel stores dropped 4.4 per cent.

James River exploring 'strategic alternatives'

“The board now believes it is appropriate to explore a range of potential strategic alternatives to maximize shareholder value.”

Brookfield Re takeover of Argo on track for end of year close

Argo announced in February it was being bought by Brookfield Re, also based in Bermuda, for $1.1 billion.

Arch unit to buy run-off mortgage insurance business of property insurer

“Our teams are experienced and proficient at acquiring and integrating mortgage insurance companies, which we expect will help us quickly maximize the value of this acquisition.”

United Finance redeems €8.5m bonds

Trading suspended as bondholders receive

SiriusPoint turns underwriting profit in third quarter

It said the improvement in net underwriting results was driven by lower catastrophe losses and improved favourable prior year loss reserve development.

Argo Group readies for merger, reports Q3 net loss of $49.5m

Argo said the merger agreement outside date for completing the transaction has been automatically extended to February 8, 2024

777 Re downgraded by AM Best, cites concerns

This resulted from the company’s significant exposure to investments in various 777 Partners originated assets resulting in higher risk charges.

Hamilton prices IPO shares

The offering is expected to close on or about November 14, 2023, subject to the satisfaction of customary closing conditions.

Cost of living and increased interest rates make Guernsey property buyers more cautious

The raw median price (realty only) of the 12 Open Market transactions in the third quarter of 2023 was £1,443,438.

James River sells casualty reinsurance operations

Frank D’Orazio, the company’s chief executive officer, said: “Today’s announcement represents a key milestone for James River and is strategically significant for both our Company and Fleming.

ABIR congratulates RenRe on purchase of Validus Re

Bermuda’s internationally recognised regulator, world-leading talent base and culture of innovation drive the market’s leadership in finding solutions to large and complex risks such as climate change and cyber.

Enstar Group records Q3 net earnings of $38m

That compares with a net loss attributable to ordinary shareholders of $432 million in the prior year quarter.

Assured Guaranty reports Q3 net income of $157m

Third-quarter capital returned to shareholders was $80 million including share repurchases of $64 million and dividends of $16 million.

US life insurer CNO forms Bermuda-based captive

It said the goal of the company was to “enhance competitive position through a structure that enables disciplined capital deployment” and to increase capital efficiency.

White Mountains reports Q3 income of $23m

The company reported book value per share of $1,542 and adjusted book value per share of $1,588 as of September 30.

SRS launches Altitude MGU

SRS said it has recruited several seasoned ART and corporate insurance industry experts that will join in the coming months.

Brookfield Infrastructure reports Q3 net income of $104m

Brookfield said its take-private acquisition of Bermudian-based Triton International closed on September 28.

AIM and Hedge Funds