Flagstone Reinsurance Holdings Limited announced that AM Best Company has assigned Flagstone Reinsurance Africa Limited an ‘A-’ financial strength rating (FSR), and an issuer credit rating (ICR) of “a-“. The rating reflects the strong capitalization of the Flagstone Group and a full parental guarantee from Flagstone Reassurance Suisse SA, the majority owner of Flagstone Reinsurance [...]

Flagstone Reinsurance Holdings Limited announced today that it has made an offer to the Board of IPC Re to acquire all of IPC’s outstanding shares. Flagstone’s offer is superior to the pending offer made by Validus on both a market value and tangible book value per share basis, and offers a superior value proposition [...]

Flagstone Reinsurance Holdings Limited announced today that it has appointed Patrick Boisvert as Chief Financial Officer in addition to his responsibilities as Chief Financial Officer of the group’s main operating company, Flagstone Reassurance Suisse SA. Patrick will continue to be based in the Martigny, Switzerland office. James O’Shaughnessy will continue as Chief Financial Officer [...]

Flagstone Reinsurance Holdings Limited announced today that Tony Latham has joined the Board of Directors. Mr. Latham is a former member of the Group Executive of RSA Group plc where he held a variety of senior executive roles over a period of 17 years. RSA Group plc is an international insurance group, listed on [...]

A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings of “a” of Odyssey Reinsurance Group (Odyssey Re) (Delaware) and its members. Additionally, A.M. Best has affirmed the ICR and debt ratings of Odyssey Re Holdings Corp. (Odyssey Re Holdings) (Delaware) [NYSE: ORH]. The outlook for all ratings [...]

Fairfax Financial Holdings Limited announces that it had net earnings of $467.6 million in the third quarter of 2008 ($25.40 per share, $25.27 per diluted share) compared to $253.2 million in the third quarter of 2007 ($14.12 per share, $13.47 per diluted share). These third quarter results include net gains on investments of $856.8 million [...]

Fitch Ratings has affirmed its ratings on Flagstone Reinsurance Holdings, Ltd. and subsidiaries (collectively Flagstone) and removed the ratings from Rating Watch Negative. The Rating Outlook is Stable. (A full list of ratings is included at the end of this release.)
Fitch’s rating actions reflects its view that Flagstone is no longer actively pursuing the [...]

Fitch Ratings has affirmed its ratings on Flagstone Reinsurance Holdings, Ltd. and subsidiaries (collectively Flagstone) and removed the ratings from Rating Watch Negative. The Rating Outlook is Stable. (A full list of ratings is included at the end of this release.)
Fitch’s rating actions reflects its view that Flagstone is no longer actively pursuing the [...]

Transatlantic Holdings, Inc. that American International Group, Inc. (“AIG”) and American Home Assurance Company, a wholly owned subsidiary of AIG, (“AHAC” and together with AIG, the “Selling Stockholder”) have commenced a secondary public offering of 26 million shares of the Company’s common stock owned by the Selling Stockholder and that the Selling Stockholder is expected [...]

Validus Holdings, Ltd. announced today that Conan Ward, Executive Vice President and Chief Underwriting Officer of Validus Reinsurance, Ltd. is scheduled to present during the Merrill Lynch Reinsurance Renewals Conference Call on January 5, 2009, at 10:00 am Eastern Time. Mr. Ward will discuss the general market conditions for specialty reinsurance business renewing during January [...]