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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...

Exor has increased its offer for PartnerRe Ltd to about $6.8 billion, as it tries to derail the Bermuda reinsurer’s planned merger with Axis Capital Holdings Ltd. Exor, the investment vehicle of Italy’s billionaire Agnelli family, now plans to pay $1...

Enstar Group Ltd reported a sharp increase in first-quarter profits as it announced the departure of its chief financial officer. The Bermuda insurer, which specialises in acquiring and managing businesses in run-off, reported net earnings of $44.8 m...

Four out of five reinsurance executives believe soft market conditions are presenting a significant challenge to the industry, according to a worldwide industry survey. Xuber’s Global Reinsurance Survey revealed that 81 per cent of executives polled ...

Bermuda-based municipal bond insurer Assured Guaranty posted net income of $201 million for the first quarter and topped Wall Street estimates. The company’s board also authorised a new $400 million share repurchase programme, as its adjusted book va...

Bermuda-based Validus Holdings Ltd is celebrating its tenth birthday this year in a markedly different reinsurance market from the one in which it was born. To mark a decade of strong growth, the company is holding a party for clients at Pier 6 on Fr...