Brian OHara

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UBS drops action against Brian O’Hara

February 23, 2009
XL Capital chairman Brian O'Hara appears to have settled his debt to UBS Bank, which was suing the insurance executive in the United States in an attempt to recover $1.5 million of outstanding loans. UBS Bank USA, of Salt Lake

John Charman is still king of Bermuda market with shares worth $221 m

August 11, 2008
AXIS Capital President and CEO John Charman has increased his lead as the Bermuda insurance executive with the most valuable portfolio of shares in his or her publicly-listed employer. Charman, 55, beneficially owned shares in AXIS Capital that had a market value of $221 million as of July 31, 2008, according to a share-ownership review of insurance executives by InsideBermuda.

KPMG agrees to pay $10.5 m to settle lawsuit over audits of Bermuda reinsurer

March 10, 2008
KPMG (Bermuda) has agreed to pay $10.5 million to settle class action shareholder litigation concerning its audits of Bermuda-based Annuity & Life Re (Holdings) Ltd. An order approving a provisional settlement agreement was issued by U. S. District Judge Ellen Bree Burns, sitting at the U. S. District Court for the District of Connecticut, on February 19, 2008. The settlement amount was due to be paid by KPMG "within ten business days" of the date of the order. KPMG entered into the settlement without admitting any wrongdoing.

KPMG (Bermuda) suspects class action plaintiff may have received illegal payment

July 12, 2007
Did a major U. S. law firm illegally pay a Bermuda-based investment firm to serve as lead plaintiff in a class action lawsuit against KPMG (Bermuda) regarding its audits of Annuity & Life Re (Holdings) Ltd.?That's what KPMG wants to know before discovery winds up in an action at the U. S. District Court for the District of Connecticut. However, rather than answer that and other questions, the investment firm, Midstream Investments Ltd., has filed an eleventh-hour motion to withdraw from the case entirely and for a protective order to avoid being forced to provide evidence.

2006 Bermuda Insurance Stock Ownership Review: Stanard’s RenRe stake climbs to $245 m

June 7, 2006
James Stanard may have departed as RenaissanceRe's Chairman and CEO in less-than-ideal circumstances last November but he remains the firm's biggest individual shareholder, with a holding worth $245 million. That was more than enough to put him at the top of InsideBermuda's 2006 review of own-company shareholdings held by current - or, in the case of Stanard, recently-departed - officers and directors of Bermuda's publicly-listed insurers.

2004 Bermuda Insurance Market Compensation Review: Montpelier Re boss tops contemporaries with $15.3 m package

April 30, 2005
Stock option profits of $9.8 million helped make Anthony Taylor the best compensated officer of a Bermuda-based, publicly-listed insurer in 2004.The Chairman, President and CEO of property and casualty reinsurer Montpelier Re received a total package worth $15.3 million during the 12-month period, propelling him into top spot in InsideBermuda's compensation review, compared with 31st position a year earlier.

Class action lawsuit against XL Capital

February 29, 2004
XL Capital and three of its officers and directors have been named as defendants in a class action lawsuit alleging securities fraud. The complaint was filed at the U. S. District Court for the District of Connecticut on November 20, 2003 on behalf of investors who bought shares between November 1, 2001 and October 16, 2003.

James Stanard tops Executive Compensation Review for fifth straight year

April 30, 2002
RenaissanceRe Chairman and CEO James Stanard has topped InsideBermuda's annual insurance executive compensation review for the fifth straight year with a package valued at $24.4 million for fiscal 2001. Stanard's compensation was almost three times the value of the runner-up - his colleague at RenaissanceRe, David Eklund, who earned $8.6 million.

Brian O’Hara tops Bermuda shareholders’ list with $65 million of XL Capital stock

June 30, 1999
XL Capital President and CEO Brian O'Hara has topped a list that measures the value of shares that officers of Bermuda-based, publicly-listed insurers own in their own company. O'Hara is the beneficial owner of shares worth approximately $64.6 million in XL Capital, according to a review conducted by Miami-based Offshore Business News & Research, Inc., which publishes this newsletter.

Mid Ocean’s Michael Butt receives $7 million package for fiscal 1997

February 27, 1998
Michael Butt, the 55-year-old president and CEO of Bermuda-based reinsurer Mid Ocean Limited, received a financial package worth $7 million in fiscal 1997, according to the company's latest Proxy Statement filing with the SEC.Butt's remuneration comprised $485,000 in salary, $500,000 as a performance bonus, $209,800 in travel and housing allowances, $53,100 in contributions to his pension plan, a profit of $5.31 million from share options he exercised during the year and a further $417,600 in restricted stock awards that were granted in previous years but which vested during fiscal 1997.