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PartnerRe Ltd’s board of directors has rejected the buyout bid from Italian investment company Exor and offered a sweetened deal for shareholders to complete its proposed merger with Bermuda rival Axis Capital Holdings Ltd. In a statement released ye...

RenaissanceRe’s profits rose more than 11 per cent in a first quarter notable for the completion of the reinsurer’s acquisition of Platinum Underwriters. RenRe recorded $167.8 million in net income, up from $151 million in the corresponding quarter o...

Bermuda-based insurer Ironshore has agreed to be acquired by Chinese investment firm Fosun International Ltd. In a statement released late yesterday, Ironshore said it had reached an agreement to sell to Fosun the four-fifths of the company that the ...

XL Group and Catlin Group have completed their merger — and today the integration of the two insurers begins in earnest. The Royal Gazette understands that 30 underwriting, actuarial and claims staff will this morning relocate from the Catlin office ...

A leading player in the insurance-linked securities (ILS) market will receive the Bermuda Insurance Institute’s Industry Leader of the year Award later this month. Kathleen Faries, the chief executive officer of Tokio Solution Management Ltd (Tokio S...

Bermuda Institute celebrated a one-two finish as the KPMG Senior School Investment Challenge marked its tenth year. The top team ‘Tradewins’ achieved a near 22 per cent return on their $100,000 virtual portfolio over the six-month investment period t...

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...