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Ascendant Group Ltd’s chairman Peter Durhager yesterday revealed that the firm had commissioned an independent investigation into whether the company’s chief executive officer had a conflict of interests in also being chairman of a US natural gas com...

A group of Ascendant Group Ltd shareholders intends to raise concerns about the direction in which the company is headed at Friday’s annual general meeting. The five are all former managers at Belco, a subsidiary of Ascendant, and they believe the el...

Partnerships will gain more of the same rights as businesses under amendments to the law that Government hopes will boost the Island’s asset management sector. Economic Development Minister Grant Gibbons said the changes to the Partnership Act 1902 w...

The annual rate of inflation hit its lowest point in more than five years in March, as prices rose 1.2 per cent from a year earlier. Government statistics released today showed how the slump in global oil prices has slowed down the increase in the co...

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...