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First-quarter profit more than doubled to $6.2 million for Somers Ltd, owner of Bermuda Commercial Bank. The profits were generated principally by BCB and Waverton, a UK investment management company in which Somers has a 62.5 percent controlling int...

Butterfield Bank yesterday announced that full-year net income more than tripled to $78.2 million in 2013. Core earnings, which eliminate items “outside the course of normal business”, were up 39.5 percent to $76.6 million. In its earnings statement ...

Bermuda-based Hiscox Ltd yesterday announced a 12 percent rise in full-year pre-tax profit to £244.5 million ($406.8 million) — the second-best earnings in its history. The insurer and reinsurer, which employs around 50 people in its Reid Street head...

Butterfield Bank today announced that full-year net income more than tripled to $78.2 million in 2013. Core earnings, which eliminate items “outside the course of normal business”, were up 39.5 percent to $76.6 million. In its earnings statement toda...

Bermuda First Investment Company Ltd (BFIC) recorded a $0.8 million profit for the first six months of its fiscal year — but saw the value of its investments fall by $4.3 million. The company, which invests in a variety of Bermuda Stock Exchange-list...

The Bermuda Government will pay more than $310,000 per day in interest on its growing mountain of debt in the coming fiscal year. And despite the $70 million of cuts in public spending announced yesterday, next year’s Budget will run a projected defi...

The number of jobs in Bermuda fell by 921 last year, preliminary data from a survey of businesses shows. But the Ministry of Finance is projecting that Bermuda’s economy is likely to emerge from a five-year recession in the second half of this year w...

Where are all the people looking for work in the construction industry? That is the question being posed by Alex DeCouto, president of Greymayne Contracting, who launched an employment agency for his industry last month and has received only three re...

The Bermuda reinsurance industry has been criticised by a Florida state legislator who describes as “simply insane” plans for the state-run catastrophe fund to buy up to $1.5 billion in private reinsurance. Representative Frank Artiles, a Miami Repub...