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net income available to common shareholders for the year to September 30 of $97,668,000 ($5.14 per share), a near 20 percent improvement over $81.5 million ($5.40 per share) the year before. Total net income was $121.5 million before the removal of $...

A recent US Tax Court ruling has strengthened the validity of captive insurance arrangements, tax specialists with Ernst & Young Bermuda have reported in a tax alert to clients. The Tax Court ruled in favour of the taxpayer, Hospital Corporation of A...

of 14 collective investment schemes sponsored by a Mutual Risk Management Ltd. (MRM) company, has been approved by the listing committee. MRM is offering income and accumulation units to qualified investors with a minimum investment of $100,000, in s...

Latin American Reinsurance Co. Ltd. (LARe) the latest Bermuda-based Class 3 reinsurer, began operating on Monday and executives were already this week on a marketing trip in Mexico City, attending FIDES, the 26th Hemispheric Insurance Conference. The...

The Bank of Butterfield yesterday welcomed positive ratings of the Bermuda banking environment, as issued by Moody's Investors Services. Moody's said that Bermuda's three banks benefit from the sound banking environment in Bermuda, which carries Aa1 ...

30, than for the entire financial year to June 30, 1997. The record first quarter profit of $10.7 million was a dramatic increase of 157.7 percent over the first three months of the last financial year, when re-stated net income amounted to $4.2 mill...

The Bank of Bermuda has recorded record first quarter earnings of $14.2 million for the three months to September 30 -- some 77 percent higher than for the same period last year. The record numbers come through continued growth in core business, but ...

Nearing the end of his first year as IBF chairman, managing partner of Ernst & Young, Jan Spiering, is intent on bringing more planning to Bermuda's business and socio-economic development. The IBF has established three sub-committees to concentrate ...

Bermuda-based Sphere Drake Holdings Ltd. has reported a loss for the third quarter to September 30. But the company remained upbeat about the future, particularly with significantly increased business and favourable market reaction to their recent ac...

increase in gross written premiums for the third quarter to September 30, when compared to the same period last year. But the soft and competitive insurance market, more evident in the first half of the year, has brought nine month figures down consi...