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Insurance companies are looking at more novel ways of spreading risk. But the "securitisation of risk'' is described as a misnomer by new Centre Reinsurance Holdings Ltd. president, Mr. David Brown. Mr. Brown, who has just taken over from Mr. Michael...

The parent company of Terra Nova (Bermuda) Insurance Company Ltd. has added another $35 million of new capital to the Bermuda insurer, raising shareholders' equity to just over $110 million. The additional investment by its parent company, Terra Nova...

its principal operating company, Commercial Risk Reinsurance Company Ltd., to more than $200 million before the end of the year. Commercial Risk Partners Ltd. President and CEO Mr. Graham C. Pewter said, "Our increased capitalisation will ensure the ...

Property catastrophe reinsurer, Bermuda-based Centre Cat Ltd., has advised its business partners that they expect losses of between $8 million and $12 million as a result of Hurricane Opal. Centre Cat moved to assure the market of the company's stren...

The Bermuda Stock Exchange (BSX) has increased the size of its Council to 11 from eight members and installed a new chairwoman, Ms Audette Exel, the managing director of the Bermuda Commercial Bank. And the Council has been beefed up with top officia...

Island's top supervisory and regulatory agency for financial institutions. After more than 26 years in operation, the Bermuda Monetary Authority (BMA), the closest thing in Bermuda to a Central Bank, has purchased a building that they can occupy for ...

International Bar Association's (IBA) Section on Business Law, held in Paris. Business lawyers believe that the Bermuda market gains invaluable exposure from attending such conferences. Both company lawyers and those in private practice attend. There...

multi-storey car park. The issue pays an attractive eight-percent per annum on certificated bonds purchased at $2,500 each in Bermuda dollar or US dollar currency, through to the maturity date of October 20, 2010. The bonds are to be listed on the Be...

the more than $6 million multi-level car park. The bond is expected to be launched early next week. City officials said yesterday that the public will be advised of details of the offering in the week ahead. Meanwhile, there were indications that the...

but substantially scaled back what liquidators for his Focus group of insurance companies wanted. And the British businessman, whose appeal to the Privy Council against an "Unless'' order failed this summer, has taken his case to the European Commiss...