Everest Re Group

Owner of Bermuda captive Founders Insurance accused of concealing assets to avoid $70 m guaranty

November 2, 2009

The owner of a failed captive insurer managed in Bermuda by Bott & Associates has been accused of concealing his assets in an attempt to avoid honoring a $70 million personal guaranty.The allegations against Robert E. Sutton, whose Bermuda firm

Fidelity mutual fund group continues its ownership dominance in Bermuda market

July 9, 2008

Boston, Massachusetts-based mutual fund group Fidelity continues to be the biggest single investor — by a considerable margin — in the Bermuda insurance and reinsurance market.Fidelity owns at least 5% of the common shares of 10 of the 17 Bermuda-based companies publicly-listed in the United States that were included in an ownership review by InsideBermuda, based on filings with the U. S. Securities and Exchange Commission.

Fidelity in league of its own as biggest investor in Bermuda insurance market

July 12, 2007

Mutual fund firm Fidelity has maintained its position as the single biggest investor group in the Bermuda insurance and reinsurance market.

Everest Re subsidiaries sue for $80 m damages in U. S.

April 7, 2007

Two wholly-owned, U. S. subsidiaries of Bermuda-domiciled Everest Re Group Ltd. are seeking $80 million in damages in New Jersey, alleging fraud against a client.Details are contained in two civil lawsuits that were filed on February 7 and March 14, 2007 at the U. S. District Court for the District of New Jersey by Everest National Insurance Company and Everest Reinsurance Company, which are both incorporated in Delaware, based in Liberty Corner, New Jersey.

Bermuda insurers sued in $350 m-limit policy dispute

May 5, 2006

A New Jersey based manufacturer has sued several insurers, including two that are incorporated in Bermuda, in an attempt to enforce a $350 million limit insurance policy.Formosa Plastics Corporation USA claims they have breached the terms of the contract concerning