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Bacardi chief executive officer Ed Shirley is to leave the company after two years in the top job, the Bermuda-based beverage giant announced last night. “Mr Shirley expressed his plans to return to retirement after a successful 36-year career,” Baca...

Hiscox Re has beefed up its senior management with two appointments announced today. Reeva Bakhshi has been named chief financial officer and Paresh Thakrar as chief operating officer. Hiscox brought together its global reinsurance operations under t...

A British resident of Bermuda and long-time customer of HSBC Bermuda was told by a bank employee that if she could not produce evidence of her ties to the Island, her account could be frozen. The 39-year-old woman, who had gone into the bank to close...

Mutual insurer OIL is to pay a total $300 million dividend to its energy industry members after it booked a full-year profit of $631.9 million. The Bermuda-based company told shareholders at its annual meeting last week that it wrote and earned $550....

Close to four out of five North American insurance executives say their companies are actively considering potential acquisitions, according to a survey which indicates a likelihood of growing consolidation in the industry. The survey was carried out...

The Bermuda Chamber of Commerce has cancelled its planned Concierge Day trade show because of a lack of interest. Chamber president Ronnie Viera told The Royal Gazette yesterday that the Chamber could not justify going ahead with the event at the Fai...

KeyTech today announced that it is slashing its dividend by 25 percent. The company, which owns Bermuda Telephone Company and Logic Communications, said its next quarterly dividend payable next month would be reduced to nine cents from 12 cents. In a...

Bermuda-based Wilton Re said on Friday it had agreed to be sold to Canada Pension Plan Investment Board in a deal worth $1.8 billion. The life reinsurance company focuses principally on the US life reinsurance market, specialising in the acquisition ...