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Bermuda-based Hiscox has no plans to join the merger spree occurring in the reinsurance market. The London-listed insurer and reinsurer, which yesterday reported a £231.1 million ($355 million) pre-tax profit for 2014, down more than 5 per cent from ...

Bermuda and other international financial centres are “routinely attacked and demonised” in Europe, according to Bermuda’s top financial regulator. Jeremy Cox, chief executive officer of the Bermuda Monetary Authority, said in opening remarks in the ...

Around half of the 37 Bermuda-based employees of Platinum Specialty Underwriters Holdings Ltd have accepted redundancy packages after the reinsurer was bought out by RenaissanceRe Holdings Ltd, The Royal Gazette understands, while the other half acce...

Butterfield Bank today reported net income of $98.3 million for 2014, up by more than 25 per cent from the previous year. The results represented a fourth consecutive year of earnings growth for Butterfield. Chairman and chief executive officer Brend...

LF Wade International Airport is the place to hang out if you want to find out who’s buying whom in the reinsurance industry, according to XL Group chief executive officer Mike McGavick. His comments led to the headline “For Front-Row Seat in Deal Ac...

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...