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AM Best has revised the outlooks to positive from stable and affirmed the financial strength Rating of B++ (Good) and the long-term issuer credit Ratings (Long-Term ICR) of “bbb+” of Argus Insurance Company and Bermuda Life Insurance Company. Each company is a subsidiary of Argus Group Holdings. 16 December 2016
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Enstar Group (Enstar) has introduced KaylaRe, a Bermuda-based, Class 4 reinsurer, offering a diversified range of specialty reinsurance to the global insurance market. 16 December 2016
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Essent Guaranty, a Bermuda-based provider of mortgage insurance (MI) and PCLender, a provider of web-based mortgage solutions for community banks, credit unions and mortgage bankers, have revealed that Essent MI is available to lenders through PCLender’s Loan Origination System (LOS). 15 December 2016
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Axis Capital Holdings, a Bermuda-based provider of specialty re/insurance, is expected to re-domicile its London office to new skyscraper, ‘The Scalpel’, in 2018 alongside Lloyd’s of London at 52 Lime Street. 15 December 2016
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The Bermuda Business Development Agency (BDA) has appointed two new directors to its board. 15 December 2016
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The Association of Bermuda Insurers and Reinsurers (ABIR) has added to the chorus of objections to the recent report released by Oxfam about the world’s worst tax havens, with Bermuda at the top of the list for criticism. 14 December 2016
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Bermuda-based RenaissanceRe has announced a string of changes to its senior management which will be implemented in 2017. 14 December 2016
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Insurance Europe, the European insurance and reinsurance federation, has called for an end to what it describes as ‘highly discriminatory’ collateral requirements for European cross border reinsurers writing risks in the US. 13 December 2016
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AM Best is maintaining its negative outlook for the global reinsurance market, claiming that continued market challenges will hinder the potential for positive rating actions and may translate into negative rating pressures in 2017. 13 December 2016
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Validus Holdings has announced that chairman and CEO Edward Noonan has reluctantly sold 273,000 shares of the company's common stock in open market transactions. 13 December 2016
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