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Electric Mutual Liability Insurance Company (EMLICO) over their controversial move from Massachusetts to Bermuda, has settled with EMLICO's liquidators and General Electric Co. (GE), EMLICO's principal insured. Allstate Insurance Co. was one of the f...

operations by closing some of its smaller outlets, without the loss of jobs. Closures include shops at the Princess Hotel, Elbow Beach Hotel, Marriott's Castle Harbour Resort and Crystal Caves. President Eldon Trimingham said: "Unless a place is big ...

premiums for the year to December 31, driving profit up 41.7 percent to $64.9 million or $2.70 a share. The company's fourth quarter net income jumped 46.9 percent to $15.3 million, with after tax operating earnings for the three months, excluding re...

bypassing local shops and the need to travel overseas. An increasing proportion of the goods are being imported via courier instead of air freight, courier companies and Customs officials say. And that rise contributed to space problems that led to t...

Technology company, BSL Holdings Ltd., has changed its name to Millennium International and sold its stake in the US-based Attitude Network Ltd. to a Florida investment company for $3,972,260. That is more than a 94 percent gain over the $2,047,000 t...

Opposing sides in the ongoing dispute over Electric Mutual Liability Insurance Co. (EMLICO) are at odds over the meaning of last week's Supreme Court ruling over costs. Puisne Judge Richard Ground ruled that Kemper Reinsurance must reimburse the esta...

reinsurer which alleged fraud against General Electric Co. (GE) and their insurer, Bermuda-based Electric Mutual Liability Insurance Co. (EMLICO), must pay legal costs for GE and EMLICO. That is the legal opinion of manager of Appleby, Spurling & Kem...

worst disaster -- but diversification into other types of insurance underwriting has a ratings agency worried. Standard & Poor's (S&P) Bermuda Catastrophe Reinsurance Market Report released this month is not completely favourable to the sector. The g...

formed a new, dedicated vehicle in Bermuda, designed to meet the specialist insurance needs of the global mining industry. And newly-formed Bermuda-domiciled Strategic Risk Management Group (SRM), will be the managing agent for the new Class Three in...

Bermuda-based Mutual Risk Management Ltd. (MRM) has declared $37,032,000 in net income available to common shareholders for the year to December 31, a near 23 percent improvement over the year to 1995. Fourth quarter net income increased from $7.4 mi...