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record levels of operating and financial performance for the year to December 31, 1996, together with a net income contributed by insurance operations of $39.7 million. Fuelled by a recent low loss experience, OIL's capital and surplus increased to a...

The Court of Appeals on Monday allowed an appeal and set aside the judgment won against Caliban Holdings Ltd. by former employee Vanessa Thomas. Mrs. Thomas commented yesterday that she was disappointed but that it didn't change her strategy in this ...

The Bermuda Employers Council (BEC) will be hosting a conference on redefining diversity at the Southampton Princess on April 2, when world authority Dr. R. Roosevelt Thomas Jr. will be the presenter. Dr. Thomas advocates that business leaders must b...

Mid Ocean Ltd. has posted net income of $52 million for the first quarter to January 31, a 10.1 percent decrease over the same period the year before. Earnings per share dropped from $1.57 to $1.43 for the comparative periods. Net operating income, e...

taken by The Shipowners Insurance and Guaranty Co. Ltd. (SIGCo) in the commercial Certificate of Financial Responsibility (COFR) market. SIGCo was incorporated to provide COFR guaranties to the US Coast Guard on behalf of ship owners, as required und...

the majority interest in the local insurance and shipping agency company, Harnett & Richardson Ltd. (H&R), together with the sale of prime Front Street real estate. The parties were said to have initially reached agreement as far back as December, al...

Belco Holdings is set to sign an agreement to build a $3 million "west city sub-station'' at the development site for the PW's waterfront, ensuring power to the west end of the city. It ends a long running saga in which planning authorities blocked t...

to December 31, up 10.35 percent from 1995. Earnings per share surged from $3.04 to $3.31. And utility officials are forecasting a relatively dramatic increase in the demand for electricity over the next few years. But president and CEO, Garry Madeir...

For the first time in its history, the Bermuda Electric Light Company will return $1.5 million in surplus revenue to its customers. This gesture of goodwill is not unprecedented, according to Belco Holdings president and CEO, Garry Madeiros, who said...

(EMLICO) in Bermuda, against the wishes of angry reinsurers who believe EMLICO's redomestication from Massachusetts should be reversed. The reinsurers reacted to the news last night by saying yesterday in a prepared statement: "Any deal that leaves E...