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A decline in earned premiums and net realised losses on investments sent third quarter net income for Bermuda-based Oil Casualty Insurance, Ltd. (OCIL) tumbling nearly 99 percent. In a quarter in which no losses were incurred, the company posted a pr...

A local lawyer has finished one of the most highly regarded programmes for the training of commercial mediators. Keren Lomas has completed the commercial mediation course organised by the London-based Centre for Dispute Resolution (CEDR). Ms Lomas is...

Bermuda-based RSL Communications, Ltd. has completed a public equity offering of 7 million shares of its Class A common stock. The shares were priced at $23.875, generating total proceeds of about $160 million to the company. Goldman, Sachs & Co. was...

and has taken measures to better position new and improved pension products in the Bermuda market. Sun Life and its investment management subsidiary manages $13 billion in pension assets, including nearly $75 million in Bermuda. Vice president for pe...

Bermuda-registered tanker company, Frontline, has alleged that the board of directors of take-over target, ICB Shipping AB, may have contravened Swedish law. Frontline has been stymied in its attempt to take control of ICB in a ships for shares deal,...

A disagreement between a top London boss of Bermuda-based ACE Ltd. and two Lloyd's underwriters has led to terminations, a London newspaper has reported. The article pre-empted, if not clouded, yesterday's announcement of promotions and other restruc...

In an increasingly competitive environment, Bermuda is still trying to garner its share of a market in Foreign Sales Corporations (FSCs) that local executives first sought ten years ago. And a banker has advocated that `national' planning may be in o...

insurance industry has dedicated to the Y2K fix. The Millennium Bug, as long was feared, has become a multi-billion dollar pest, as increasingly expensive programmers race against time to correct an oversight embedded in information systems since the...

Bermuda executives have completed a four-day, four-city whirlwind seminar programme on behalf of the Risk and Insurance Management Society, Inc. (RIMS), the not-for-profit organisation dedicated to advancing the practice of risk management. The RIMS ...

insurance company before the end of the year to offer insurance products to corporate customers. A spokesman for Sumitomo said a joint venture, to be capitalised at $1 million, will be 90 percent owned by Sumitomo and ten percent by the Tokyo venture...