News

Sovereign Increases Political Risk Capacity and Expands Coverage HAMILTON, Bermuda, August 3, 1998 - Sovereign Risk Insurance Ltd., (“Sovereign”) the Bermuda-based political risk insurance underwriting agency, has announced that it will begin its second year of operations with substantially larger project and country limits as well as expanded coverage lines. Price Lowenstein, Sovereign's President and…

Sovereign Announces Landmark Reinsurance Agreement with French Government Insurer COFACE March 25, 1998. Hamilton, BERMUDA - Sovereign Risk Insurance Ltd. (Sovereign) today announces the signing of a landmark reinsurance agreement with the French Government Export Credit Agency, COFACE. The agreement, which win go into effect on April 1, win provide COFACE with $80 million of…

Sovereign Risk Appoints Chief Underwriting Officer HAMILTON, Bermuda, October 9, 1997 - Sovereign Risk Insurance Ltd., the Bermuda-based political risk underwriting agency formed as a joint venture between ACE Limited (NYSE:ACL) and EXEL Limited (NYSE:XL), has announced that Leigh Hollywood has been hired as Chief Underwriting Officer. Mr. Hollywood, 57, has over two decades' experience…

New Political Risk Facility to be Formed in Bermuda HAMILTON, Bermuda, March 4, 1997 -- Responding to increasing levels of foreign direct investment including projects in developing countries, and rising demand for political risk insurance, A.C.E. Insurance Company, Ltd. ("ACE"), X.L. Insurance Company, Ltd. ("XL") and Risk Capital Reinsurance Company ("RC Re") have entered into…