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The new president of the Institute of Chartered Accountants of Bermuda (ICAB), Coopers & Lybrand Chartered Accountant, George Holmes, will seek the implementation of fresh recommendations for the industry. Mr. Holmes was established as president with...

Bermuda-based property catastrophe reinsurers, PartnerRe Ltd. has reported a $60.4 million profit for the second quarter to June 30, in line with the $60.3 million declared for the second quarter a year ago. It brought to $121.2 million the six month...

Called Compass Points, it rewards the bank's credit card holders with a point for each dollar spent. The new scheme follows the recently announced air miles frequent flyer programme announced by Shell Companies of Bermuda and the Gibbons Management S...

property insurance facility that would provide property cover for public electric utilities globally. The facility, Transform, is underwritten by the world's largest sources of net insurance capacity, and utilises captive insurance company arrangemen...

Bermuda-based Sphere Drake Holdings Ltd. was hit with a loss of $7.6 million for the second quarter to June 30, compared with a profit of $11.4 million for the same period last year. The loss came after the company was forced to add to its reserves, ...

fell 11.5 percent to $16.5 million, due to lower underwriting profits for the three months and higher realised investment gains for the comparative period last year. Net realised investment gains after tax for the six month period were down from $8.5...

The Bermuda Stock Exchange is enjoying a higher profile, with a recent advertising campaign by the Bermuda International Business Association (BIBA) published in the Financial Times. The FT Managed Funds Service pages, which lists Bermuda funds, amon...

of its highest levels of profitability, a near 400 percent (397 percent) improvement for the first quarter to June 30, when compared with the same period a year ago. First quarter net income was $2,011,000, compared with $405,000 for the same period ...

reduced gross premiums written by Starr Excess Liability Insurance Co., Ltd. by 35 percent in the first six months of the current fiscal year. The gross written premiums for the first two quarters to June 30 were $39,182,000, compared to $60.2 millio...

Negotiations have reached an advanced stage for an out-of-court settlement between Bermuda-registered EMLICO (Electric Mutual Liability Insurance Co.) and major US reinsurer, General Re. A spokesman for the Bermuda-based joint liquidators said from N...