1710 results returned for search: "" category "Business" author Jonathan Kent
XL Capital Ltd. made a net loss of $1.43 billion in the fourth quarter of 2008, cut its dividend payout to shareholders by almost half and plans to cut its global workforce by 10 percent.
The announcements came in the Bermuda-based insurer's earnings...
DATE: Feb 11, 2009
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AUTHOR:
Jonathan Kent
Bermuda's international insurers took a battering on the stock market yesterday after new US Treasury Secretary Tim Geithner's announcement of a $2 trillion financial rescue plan failed to inspire investors' confidence.
Every one of the US-listed Ber...
DATE: Feb 11, 2009
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AUTHOR:
Jonathan Kent
Swiss Re is to close its Bermuda office with the loss of five jobs as the company seeks to cut costs.
The office, which is located on the fourth floor of Mintflower Place on Par-la-Ville Road, will be effectively shut down by the end of June this yea...
DATE: Feb 10, 2009
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Jonathan Kent
Bermuda-based insurer Axis Capital Holdings Ltd. yesterday announced net income for the fourth quarter of $131 million — a fall of 57 percent compared to the previous year.
But despite losses of around $408 million attributed to claims from hurricane...
DATE: Feb 10, 2009
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AUTHOR:
Jonathan Kent
Bermuda should not be fearful of the new Obama administration in the US despite the threats of tax law changes and protectionism that could be harmful to the Island's economy, according to BIBA chief executive officer Cheryl Packwood.
Instead, Bermud...
DATE: Feb 06, 2009
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Jonathan Kent
Realising his campaign vow to "shut down the tax havens" will be on US President Barack Obama's back burner for the foreseeable future, according to CNN political pundit Roland Martin.
Mr. Martin, the guest speaker at the Bermuda International Busine...
DATE: Feb 06, 2009
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AUTHOR:
Jonathan Kent
Bermuda-based Aspen Insurance Holdings Ltd. last night reported an 84-percent slump in fourth-quarter profits as hedge-fund investments slumped.
Aspen posted a net income of $21.8 million, or operating earnings of 17 cents per share, in the three mon...
DATE: Feb 05, 2009
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AUTHOR:
Jonathan Kent
Bermuda-based financial guarantor Primus Guaranty Ltd. yesterday announced a net loss of $918.5 million for the fourth quarter, citing turmoil in the credit markets.
The company, which provides around $22.5 billion in credit protection for clients, h...
DATE: Feb 05, 2009
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AUTHOR:
Jonathan Kent
Bermuda-based insurer Axis Capital Holdings Ltd. has had the financial strength and counterparty credit ratings of its operating units raised to A+ by Standard & Poor's as a result of consistently strong financial results and its moderate debt levels...
DATE: Feb 04, 2009
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AUTHOR:
Jonathan Kent
Bermuda-based bond insurer Assured Guaranty Corp. last night announced its business of guranteeing US public finance projects rose by 134 percent in January, compared to the same month a year ago.
Assured said it provided guaranties on 114 US public ...
DATE: Feb 04, 2009
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AUTHOR:
Jonathan Kent
