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Local residents should benefit from lower overseas telephone rates soon after Government and telecommunications giant Cable & Wireless settled their differences yesterday. The two parties signed a new pact yesterday morning that provides C&W with a n...

Bermuda's retailers are still fighting a losing battle of restricted profit margins and escalated costs, in the face of a continuing reduction in tourism. Many suspect that as cash flow remains a lingering problem, more retailers will be forced to pa...

led to the departure of a substantial number of staff. Some 60 staff, representing 20% of ACE UK's workforce, have lost their jobs, including four named underwriters, Insurance Day reported. The startling development comes only two months after John ...

Standard & Poor's has assigned its double-`A' financial strength and counterparty credit ratings to XL Mid Ocean Reinsurance Co. Ltd. S&P said the outlook was stable and that the completed Mid Ocean transaction provided a well-diversified book of bus...

The Atlantic Mutual Companies group has reported $6.6 million net income for the three months ended June 30, compared to $8.2 million for the same period in 1997. The New York firm opened Atlantic Mutual Of Bermuda, Ltd. in 1997, as a licensed proper...

the Bank of Butterfield. Vice president of personal and branch banking, Mr. Smith, 42, finishes his duties at the bank today, after 19 years. He said yesterday that he has no immediate employment plans. He intends to spend more time with his family b...

investment portfolio, yet its chief executive said the company's performance has been favourable. Overseas Partners Ltd. (OPL), declared a $258.3-million profit for the six months to June 30, after a disappointing second quarter in which earnings slu...

convergence of the insurance and capital markets. In the wake of the completion of the merger that saw EXEL Ltd. take over Mid Ocean Ltd., EXEL's newly-consolidated reinsurer is in the news again. X.L. Mid Ocean Reinsurance Company, Ltd. -- the newly...

Lloyd's and ACE UK mutually agreed to suspend trading in ACE managed syndicates' during capacity auctions held Tuesday and Wednesday. The regularly scheduled auctions are for Lloyd's capital providers to buy and sell capacity. The move comes as ACE b...

One of the Island's newest reinsurers may play a significant role in insuring the next World Cup. That announcement came yesterday as Bermuda-based reinsurer, ESG Re Ltd., declared net income of $3.2 million for the second quarter to June 30 and $6.5...