Transit Casualty

BF&M settlement: A breakdown of who pays what

December 31, 1999

One of Bermuda's longest-running farces came to an end this month when the Bermuda Fire & Marine Insurance Company trial ended with an out-of-court settlement. Seven months into the trial, the corporate and individual defendants threw in the towel and appear to have given the liquidators of BFMIC virtually everything they were seeking.

Attorneys arrive for Bermuda Fire & Marine Insurance trial

April 30, 1999

Some of the UK's top attorneys began arriving in Bermuda this month to prepare for the island's biggest ever civil trial, involving the alleged asset-stripping of the failed Bermuda Fire & Marine Insurance Company by some of the island's most prominent businessmen and companies. The trial, which is due to start on May 4, is expected to last four months and there have been no indications in the run-up to the off that the case will be settled.

Details of Clarendon insurance group’s past shady dealings

September 30, 1998

An extract that mentions the Clarendon Insurance Group that appeared in the 'Failed Promises' report into the insurance industry that was published in the early 1990s by a US Congressional committee chaired by John Dingell.

Provisional liquidators appointed at Bermuda Fire & Marine

November 4, 1993

Provisional liquidators have been appointed to investigate the financial position of Bermuda Fire and Marine Insurance Company Ltd after the company filed for a voluntary winding up order on November 2.

Aneco Re Chairman to sue

December 12, 1991

Aneco Reinsurance Underwriting Ltd chairman Mark Hardy has instructed his lawyers to commence legal proceedings against the underwriters, cedants and brokers responsible for handling Aneco's property catastrophe book of business. The action, to be brought either in Bermuda or in London, will seek damages in connection with the underwriting and placement of this business with Aneco.