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Bermuda is exploring ideas on how to broaden its tax base — and is working with an organisation which has helped several Caribbean islands to introduce value-added tax (VAT). Finance Minister Bob Richards said in the Budget statement last Friday that...

Freisenbruch-Meyer Group (FMG) has come up with a new insurance policy specifically to cover the risks of the growing vacation rentals sector. The rise to prominence of websites such as Airbnb.com has fuelled the rise in the number of people renting ...

Norway-listed chemical shipper Eitzen Chemical has urged its shareholders to accept an exchange offer that will see the company move to Bermuda. Eitzen established Team Tankers International (TTI) as a vehicle enabling its move to the Island. “This i...

RenaissanceRe Holdings Ltd’s acquisition of fellow Bermuda reinsurer Platinum Underwriters Holdings Ltd has moved a big step closer. RenRe has cleared all regulatory hurdles necessary to complete the deal, the company announced. Meanwhile, Platinum h...

Reinsurance veteran Don Kramer’s latest Bermuda start-up venture has got off to a flying start. In its first full year of operations, ILS Capital Management Ltd generated a 19.7 per cent return for investors in its 1609 Fund. The company invests in i...

The Tucker’s Point Hotel and Resort is up for sale. After being in receivership for some 16 months, the East End property is being marketed to potential buyers by international agency Jones Lang LaSalle and by Rego Sotheby’s International Realty in B...

Many members of the US Congress in catastrophe-prone states oppose President Barack Obama’s plan to raise the US tax burden on foreign reinsurance companies — so it could be years until the issue is resolved. That is the view of Robert DeRose, an ana...

The private insurance market can shoulder more of the risk now taken on by governments — but the spread of affordable insurance is threatened by a protectionist trend. That is the view of Brad Kading, president of the Association of Bermuda Insurers ...

Argo Group International Holdings Ltd posted record underwriting income for 2014, but fell short of Wall Street expectations for the fourth quarter. The Bermuda-based insurer and reinsurer reported net income of $183.2 million, or $6.90 per share, fo...

Bermuda consumers are seeing significant benefits from the collapse in world oil prices late in 2014, the latest Government statistics reveal. In December, premium fuel cost almost nine per cent less at the pump than it did a month earlier, according...