April 20, 2012
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RoyalStar: ‘Significant’ $4m profit despite Sandy
A leading Bahamian insurer yesterday said it generated a “significant profit” of around $4 million for 2012 despite Hurricane Sandy, adding that its conservative “philosophy” had been vindicated by an ‘outlook upgrade’ from the sector’s top rating agency.
RoyalStar: Acquisition in Cayman did 'not come off'
ROYALSTAR Assurance's $41.58 million capital base has given it an acquisition 'war chest', its managing director disclosing to Tribune Business that an attempted purchase in the Cayman Islands last year failed to "come off" due to differences over valuation.
$40m insurer 'outperforming market by considerable way'
ROYALSTAR Assurance's managing director yesterday told Tribune Business the general insurer had "outperformed everyone in the market by a considerable way" over the past nine years, although $1.4 million in net Hurricane Irene claims dropped its 2011 total comprehensive income by 15.7 per cent.
Bahamas carrier: 'More and more difficult' to get reinsurer backing
A LEADING Bahamian general insurer yesterday said it was "becoming more and more difficult" to attract reinsurance support for this market, although a reduction in competitive pressures meant this might ease somewhat.
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