Former Scottish Re chairman accused of securities fraud by SEC
August 2, 2010
Michael French, the former Chairman and CEO of Bermuda-based Scottish Re, has been accused of securities fraud by the U. S. Securities and Exchange Commission.
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John Charman tops 2010 ownership review with shares worth $204 m
August 2, 2010
AXIS Capital CEO John Charman has maintained his position as the officer or director with the most valuable shareholding in his or her own publicly-listed company in the offshore insurance market.
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Assured Guaranty vs. JPMorgan
August 2, 2010
Assured Guaranty is seeking damages against JPMorgan for alleged fraud regarding municipal bonds issued by a county in Alabama that has allegedly exposed the insurer to claims of up to $378 million.
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Assured Guaranty vs. Deutsche Bank affiliates
August 2, 2010
Assured Guaranty is suing two affiliates of Deutsche Bank in an attempt to avoid paying tens of millions of dollars in claims regarding mortgage-backed securities.
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Arch Specialty sues insured for return of premiums
August 2, 2010
Arch Specialty Insurance Company is suing an insured in California for alleged unpaid premiums of $186,300.
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Assured Guaranty vs. EMC Mortgage Corp.
August 2, 2010
Assured Guaranty is seeking to recover more than $30 million that it has paid out in mortgage-backed securities claims and an order protecting it from having to satisfy future claims that could total tens of millions of dollars more.
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Allied World seeks return of legal defense payments from former Refco officers
August 2, 2010
Allied World Assurance has filed an action against two former officers of fraudulently-operated Refco Capital Markets and one of Refco's insurers, XL Capital, in an attempt to recover more than $1 million in claims paid towards the legal defense costs of two former Refco officers.
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Allied World seeks to avoid legal defense payments of tomato processor
August 2, 2010
Allied World Assurance is seeking to avoid covering the legal defense costs of one of its insureds – a California-based tomato processing firm – which is being sued in a class action.
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Offshore Stocks: Insurance stocks up but Butterfield Bank continues to fall
August 2, 2010
The shares if eight offshore insurers tracked by InsideBermuda enjoyed double-digit percentage price increases in the two month period from June 1 to July 30, 2010. Only four issuers lost value and two of those were penny stocks.
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Letter from Bermuda: Ruling PLP prepares to choose a new leader
August 2, 2010
Most residents of Bermuda had only thing on their minds last week, namely the Cup Match holiday. For those unfamiliar with Bermudian traditions, this is an annual commemoration of the Emancipation Proclamation which brought an end to slavery in throughout the British Empire, and of the famous cricket match played between the liberated slaves living at the east end of the Island (St Georges) and the west end (Somerset). The Island shut down from Thursday, July 29 and remained effectively closed until the following Monday, August 2. While 22 men play something approximating to cricket, Bermudians (along with those expats who have chosen to sweat it out on the rock during the hot and humid months of July and August) drink to excess, gamble at the Crown and Anchor tables and socialise.
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Bermuda Supreme Court
August 2, 2010
Recently-Filed Business-Related Civil Lawsuits at Bermuda Supreme Court.
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