Log In

Bermuda needs to maintain personal contact with French government officials to avoid “nasty surprises” like the punitive measures meted out to the Island last year, according to Finance Minister Bob Richards. Reporting on his recent trip to Paris and...

Bermuda has a major opportunity to get involved in “shadow banking”, according to a top fixed-income asset manager. Cliff Corso, chief executive officer of New York-based Cutwater Asset Management, which manages around $23 billion, said the shrinking...

The acquisition of US insurer Western World Insurance Company represents a significant strategic development for Validus Holdings Ltd, as it provides the Bermuda re/insurer with a platform in the world’s largest insurance market. That is the view of ...

Florida politicians do not understand how much risk their state is taking on through its publicly run catastrophe fund. And Bermuda’s reinsurance industry needs to work harder to get across the message that it can benefit Florida by shouldering more ...

Bermuda re/insurer Validus Holdings Ltd has agreed to acquire US insurer Western World Insurance Group, Inc for $690 million in cash. Validus CEO Ed Noonan said last night that the combination with the Franklin, New Jersey-based Western World would r...

Confidence is growing that an economic recovery is under way in Bermuda, according to a long-standing quarterly survey. The Bermuda Omnibus Survey reveals that more than half of people — for the first time since well before the Island’s five-year rec...

Tokio Millennium Re’s (TMR) new US branch has received a licence to do business. The company, which has offices in Bermuda having been established on the Island in 2000, said yesterday that the US branch will focus primarily on non-catastrophe risks,...

Fitch Ratings said yesterday that its downgrade of Bermuda’s credit rating — announced last Friday — does not currently impact Fitch’s ratings of Bermuda-domiciled insurance companies. The Island’s international re/insurers are seen as “being highly...

Soaring health insurance premiums are a major driver of the increase in the cost of living, the latest Government statistics reveal. The Consumer Price Index, released by the Department of Statistics today, showed there was an average increase of 8.2...

More than 1,200 Bermuda-based banks, trust companies, insurers and investment entities have signed up with the US tax authorities to comply with a law designed to fight tax dodging by Americans. The US Treasury announced yesterday that about 77,000 b...