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Bermuda-based insurance services company Randall & Quilter Investment Holdings (R&Q) has rounded off 2015 with a flurry of deals. On Christmas Eve, the firm announced the novation of liabilities for policy years 2000—2003 from Golden Rule Ltd, a Caym...

Bermuda-based bond insurer Assured Guaranty has struck a deal with Puerto Rico’s indebted electric company and its bondholders that will enable the utility to restructure about $8.2 billion of debt. The Caribbean island, a US territory, faces a mount...

Expect more merger activity in a tough insurance industry that is getting tougher, top executives told conference delegates in Hamilton yesterday. A wave of consolidation has swept through Bermuda’s flagship industry this year, highlighted by the Ren...

A new advisory body set up to help Bermuda safeguard its economy from systemic risks met for the first time yesterday. The Financial Policy Council (FPC) will aim to monitor areas of potential financial systemic risk, recommend moves to strengthen re...

Axis Capital Holdings Ltd will repurchase up to $750 million of its own shares by the end of next year. The Bermuda-based insurer and reinsurer also raised its quarterly dividend by 21 per cent to 35 cents per share — its twelfth consecutive annual d...

Bermuda was “a natural choice” as a home for Qatar Re, said the reinsurer’s chief executive officer yesterday as it completed its redomiciling to the Island. Gunther Saacke added that Bermuda had “decades of proven reliability” in the insurance indus...

Declining energy prices have dampened the rate of inflation to a six-year low. The rate of inflation slid to 1 per cent in September, according to Government statistics released today. That is the lowest for any month since December 2009, when Bermud...

Bermuda-based shipping company Teekay Tankers Ltd saw its profit rise in the third quarter as spot charter rates for its oil and gas tankers increased. Teekay, which owns 51 tankers of various sizes, reported net income of $41.2 million, or 30 cents ...

XL Group reported a slump in third-quarter net income as a $96 million hit from the Tianjin explosion and integration costs related to its merger with Catlin took their toll. Net income in the first complete quarter for the combined XL Catlin busines...

Retail sales rose in August, year over year, for the twelfth successive month, reinforcing the trend of increased consumer spending. After being adjusted for inflation, sales were up for a ninth successive month. Retailers took an estimated $83.9 mil...