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Office Allows Alterra Bermuda Reinsurer to Operate with Reduced Collateral
Published: Mar 28, 2011
The Florida Office of Insurance Regulation (Office) signed a Consent Order that allows the eleventh reinsurer, Alterra Bermuda Limited ("Alterra"), to post reduced collateral and operate in Florida as an eligible reinsurer. This Consent Order makes Alterra the tenth Bermuda reinsurer to operate in Florida with similar terms; the first reinsurer to operate with similar terms is from Germany.
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Office Allows Bermuda Reinsurer to Operate with Reduced Collateral Requirements
Published: Feb 28, 2011
Office Allows Bermuda Reinsurer to Operate with Reduced Collateral Requirements
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Office Approves Renaissance Reinsurance Ltd. for New Collateral Requirements
Published: Dec 30, 2010
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Florida Office of Insurance Regulation Reaches Agreement with Three Bermuda Reinsurers for New Collateral Requirements
Published: Nov 8, 2010
The Florida Office of Insurance Regulation (Office) today announced agreements with three Bermuda-based reinsurers to participate in Florida's insurance marketplace under modified regulatory terms: Ace Tempest Reinsurance Ltd. (Ace Tempest Re), Hiscox Insurance Company [Bermuda] Limited (Hiscox), and Partner Reinsurance Company Ltd. (Partner Re). The three companies are not affiliated with each other.
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Florida Office of Insurance Regulation Reaches Agreement with Three Bermuda Reinsurers for New Collateral Requirements
Published: Nov 8, 2010
The Florida Office of Insurance Regulation (Office) today announced agreements with three Bermuda-based reinsurers to participate in Florida's insurance marketplace under modified regulatory terms: Ace Tempest Reinsurance Ltd. (Ace Tempest Re), Hiscox Insurance Company [Bermuda] Limited (Hiscox), and Partner Reinsurance Company Ltd. (Partner Re). The three companies are not affiliated with each other.
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Florida Office of Insurance Regulation Reaches Agreement with XL RE LTD to be the First Bermuda Reinsurer to Qualify under Modified Terms
Published: Jun 22, 2010
TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) today announced an agreement with Bermuda-based reinsurer XL Re Ltd (XL) to participate in Florida's insurance marketplace under modified regulatory terms. During a Property Insurance Special Session in 2007, Florida lawmakers passed legislation that authorized the Office to establish lower collateral requirements for alien (non-U.S.) reinsurers that are highly-rated and financially sound.
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Florida Office of Insurance Regulation Reaches Agreement with Hannover Re to be the First to Qualify as an Eligible Reinsurer under New Terms
Published: Feb 26, 2010
The Florida Office of Insurance Regulation (Office) today announced a new agreement that encourages foreign reinsurance companies to join Florida’s marketplace, something that Florida’s Legislature promoted as a result of the 2007 Property Insurance Special Session. The goal is to recruit more reinsurers to conduct business in Florida by reducing collateral requirements for qualified companies.
