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Validus Reinsurance Ltd has won a second court battle with US tax authorities that could have wider significance for fellow Bermuda reinsurers. The US Court of Appeals, District of Columbia Circuit, handed down a summary judgment dismissing the appea...

Bermudian Stephen Young is to take over as Endurance Specialty Holdings Ltd’s chief executive officer of global reinsurance from the start of next year. Mr Young, who is the chief underwriting officer and head of global catastrophe reinsurance, will ...

Axis Capital Holdings Ltd will remain a strong company — regardless of whether its planned merger with PartnerRe goes through — the firm’s chief executive officer told employees yesterday. In a memo to all Axis staff, CEO Albert Benchimol said Axis r...

Belco could be burning natural gas instead of heavy oil fuel within four years, if energy regulators back the utility’s plans to change its principal electricity-generating fuel. That’s the view of Walter Higgins, the chief executive officer of Ascen...

Bermuda insurer and reinsurer Axis Capital Holdings Ltd is not considering improving on its offer for Bermuda-based reinsurer PartnerRe Ltd after rival bidder Exor’s raised $6.8 billion bid, according to a report by Reuters. The report cites a a sou...

A new report finds that President Barack Obama’s proposal to increase taxes on non-US reinsurance companies would backfire on the US economy. The report, entitled, “Do We Want Special Interest Trade Protectionism in the Tax Code?” was published by Ar...

Bermuda-based oil shippers are seeing their income rocket as oil tanker rates surge. Increased production in Saudi Arabia and Iraq, as well as relatively low oil prices encouraging major buyers like China to hoard crude, are driving a spike in demand...

Ironshore may be in the process of being taken over by a Chinese firm — but its roots will remain firmly entrenched in Bermuda. Maintaining what Ironshore chief executive officer Kevin Kelley calls “the Bermuda advantage” was a key element of the $1....

Belco is achieving “abysmally low” returns — and utilities elsewhere in the world posting similar results are in danger of bankruptcy. That is the view of Walter Higgins, chief executive officer of Belco’s parent company Ascendant Group Ltd. Mr Higgi...

Belco is preparing to ask energy regulators for permission to raise its electricity prices. The imminent rate filing to the Energy Commission to change basic tariffs comes after Belco’s parent company Ascendant Group Ltd announced a fifth consecutive...