Paumanock goes into run-off

32 years ago

Topics

Bermuda Insurance

Keywords

Anchor Underwriting Managers Bermuda Insurance Market Grumman Corporation Paumanock Insurance Company Ltd. Robin Spencer-Arscott

Paumanock Insurance Company Ltd, the Bermuda-based reinsurance subsidiary of the Grumman Corporation, has ceased underwriting and is to go into run off.No official reason has been given for the move which sent shockwaves through the island’s insurance community. However, it is believed that Grumman is preparing to sell the Bermuda subsidiary.

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