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XL Insurance (Bermuda) Ltd has agreed to sell its life reinsurance operation to GreyCastle Holdings Ltd for $570 million. GreyCastle Holdings is described as “a newly-formed Bermuda company whose shareholders include large family offices and universi...

Global re/insurer Ace Ltd beat Wall Street’s expectations as it recorded net income of $734 million for the first quarter. Operating income was $2.27 per share, compared to the $2.12 per share consensus expectation of analysts tracked by Yahoo Financ...

XL Group posted net income of $255.7 million in the first three months of the year in what CEO Mike McGavick described as “one of the best quarters since the end of 2008” for the company. The global business insurer’s operating net income of $238.6 m...

The largest catastrophe bond transaction in history completed today and was admitted for listing on the Bermuda Stock Exchange (BSX). The $1.5 billion issuance through Bermuda special purpose insurer Everglades Re Ltd, will provide reinsurance covera...

Bermuda’s top financial regulator said he has been delighted to see so many people interested in doing business on the Island at North America’s largest insurance conference of the year. Speaking from the Risk & Insurance Management Society’s (RIMS) ...

Montpelier Re Holdings Ltd’s book value per share rose nearly six percent during the first quarter as the Bermuda reinsurer benefited from a lack of catastrophe activity. The company posted operating earnings of $72 million, or $1.48 per share, crush...

Supply of capital is exceeding demand in the reinsurance industry, according to RenaissanceRe Holdings Ltd CEO Kevin O’Donnell. The Bermuda-based reinsurer last night reported first-quarter net income of $151 million last night and surpassed Wall Str...

Butterfield Bank reported first-quarter net income of $23.2 million — up more than 74 percent from the same period last year. Increasing business volumes and further cost cutting helped the bank to achieve the improvement from last year’s first-quart...

PartnerRe Ltd comfortably exceeded Wall Street’s expectations as it reported net income of $295.7 million and its book value hit a record high. The profit, which included net after-tax realised and unrealised gains on investments of $115.8 million, b...