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Bermuda Class of 2005
In the wake of the catastrophic 2004-2005 hurricane seasons, the industry recapitalized itself with a deluge of new companies based in Bermuda. The companies listed here were formed in late 2005 or early 2006 to replenish the industry's reinsurance capacity. Amlin Bermuda-- $1 Billion
Arrow Capital Re -- $500 Million CIG Re -- $450 Million Flagstone Re -- $750 Million Harbor Point -- $1.5 Billion Hiscox -- $500 Million Lancashire Insurance -- $1 Billion New Castle Re -- $500 Million Omega Specialty -- $170 Million Validus-- $1 Billion Subtotal -- $8.3 Billion Sidecars -- $4.96 Billion Total -- $13.33 Billion Source: Company reports, ratings agencies January 1, 2008 Copyright 2008© LRP Publications |
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