The Company was incorporated in Bermuda on 23 May 1993. The Common Shares achieved a primary listing on the NASDAQ National Market on 13 March 1996. The BSX listing is a secondary listing and is effective from 10th September 2002. Today, IPC Holdings, Ltd. provides property catastrophe reinsurance and, to a limited extent, marine, aviation, property-per-risk excess and other short-tail reinsurance on a worldwide basis. In 2001 total revenues were $156 million. As of December 31, 2001 total assets were $1.3 billion and total capital was $846 million.
First Bermuda Group Ltd of Hamilton, Bermuda, is sponsoring the listing of IPC Holdings, Ltd.
John Weale, Senior Vice -President and Chief Financial Officer commented: "As a Bermuda-based company in our tenth year, it is highly appropriate for IPC to become a Listed Issuer of the BSX. This marks a further milestone in the growth and maturity of the company. The listing will hopefully increase the accessibility of the Company's shares to Bermudian investors."
Michael Schroter of First Bermuda Group stated: "The secondary listing of a company of the stature of IPC Holdings, Ltd. gives further recognition of the growing importance of the Bermuda Stock Exchange and First Bermuda Group is proud to have been chosen as Listing Sponsor."
"The BSX welcomes IPC Holdings, Ltd. to listing", said Mr. James S. McKirdy, Listings and Compliance Manager of the BSX. "IPC Holdings, Ltd. joins the growing list of Bermuda domiciled insurance companies to list on the Exchange. As a secondary listing IPC Holdings, Ltd. was able to take advantage of the reduced listing fees offered to issuers with a primary listing on a BSX Recognized Exchange".