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XL Group plc and Bermuda-based Catlin Group have completed their merger, the companies announced today. Catlin delisted from the London Stock Exchange and ceased to be traded as of 8am London time. The $4.1 billion deal to combine the two companies i...

Standard & Poor’s Rating Services has downgraded Butterfield Bank as a direct result of the Bermuda Government’s credit rating downgrade earlier this week. But even as it cut Butterfield’s long-term issuer credit rating to BBB from BBB+, the rating a...

Clarien Bank bosses have apologised to customers and staff for the “doubt and confusion” of a 15-month period of upheaval. Their comments come two weeks after the announcement that the Gibbons family — through its investment company Edmund Gibbons Lt...

Duncan Card believes that his new law firm will be instrumental in attracting foreign investment to the Island. Bennett Jones (Bermuda) Ltd, which practises in association with the Canadian law firm of the same name, will be led by managing principal...

Organisers of a hedge fund event expected to attract around 400 delegates to Bermuda are planning to make a donation to charity. The Global Fund Forum will take place at the Fairmont Southampton from June 22-24 and Lisa Vioni, chief executive of orga...

The Gibbons family has bought back control of Clarien Bank Ltd, just 15 months after it sold a controlling interest in the institution. The news was announced in an earnings announcement published yesterday. The statement did not specify why Edmund G...

Profits fell slightly last year for the member companies of the Association of Bermuda Insurers and Reinsurers (ABIR), the industry body announced. The 19 of ABIR’s 21 members who agreed to be surveyed racked up a combined $11 billion in net income ...

Ace Ltd and BlackRock yesterday said they have launched their new Bermuda-based joint reinsurance venture ABR Reinsurance Ltd. The two firms announced late yesterday that they had raised about $800 million through a private placement to get the new v...

Allied World Assurance Company Holdings has completed the acquisition of the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc (RSA). The Swiss-based insurer, which was one of the Class of 2001 companies to launch in Bermuda i...

Energy sector mutual insurer Oil Insurance Ltd racked up profits of $731 million in 2014, as it had its best underwriting year. The Bermuda-based company said its directors had also agreed to pay out a dividend totalling $400 million to shareholders....