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Lovit Boutique is to close its Queen Street store next Saturday. However, owner Jenia Thompson said yesterday that the three-year-old store had plans to reopen in the near future — possibly within a year. Lovit has one full-time employee, Ms Thompson...

Bermuda may now be the best jurisdiction in which to set up an offshore fund according to a New York attorney who works with the asset management industry. Jack Rigney, of Manhattan-based Seward & Kissel, sang the praises of the Island in an internat...

Lovit Boutique is to close its Queen Street store next Saturday. However, owner Jenia Thompson said today that the three-year-old store had plans to reopen in the near future. In a statement, Lovit said: “Downsizing will allow Lovit Boutique to focus...

The insurance market may be at “a tipping point” in terms of overcoming the reluctance to engage in mergers and acquisitions (M&A) activity. That is the view of professional services firm PwC, which is predicting a “quiet revolution” in global insura...

Bermuda-domiciled energy shipper Teekay LNG Partners has finalised agreements with a Chinese partner to provide six icebreaker liquefied natural gas (LNG) tankers for transporting gas from northern Siberia. The company last night declared its second-...

Bermuda insurer and reinsurer Maiden Holdings Ltd last night reported net income of $25.8 million for the second quarter — up more than 27 percent from the same period last year — and record operating earnings. Maiden’s chief executive officer Art Ra...

Many borrowers continue to struggle to make loan repayments, according to the latest figures on the banking sector published by financial regulator the Bermuda Monetary Authority (BMA). Non-performing loans (NPLs) — defined as loans in which borrower...

Endurance Specialty Holdings Ltd yesterday exceeded the expectations of Wall Street analysts as it posted net income of $75 million for the second quarter. Chairman and chief executive officer John Charman said the benefits of the ongoing “transforma...

An international law firm which specialises on servicing the insurance industry is considering opening an office in Bermuda next year — and is already talking with candidates to staff it. Nelson Brown Hamilton & Krekstein LLC (Nelson Brown & Co) has ...

Bermuda-based re/insurer Axis Capital Holdings Ltd surpassed Wall Street’s expectations in posting second-quarter net income of $191 million. Profit broke down to $1.79 per share, compared with $72 million, or 62 cents per share in the second quarter...