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Seven new luxury waterfront apartments that command monthly rents of up to $20,000 have all been leased. The five three-bedroom units and two two-bedroom units are at Waterloo House, a high-end office and residential rental property developed by the ...

More than half of the money invested in catastrophe bonds could be wiped out by a single hurricane, according to catastrophe modelling experts AIR Worldwide. Although such a storm is considered likely to happen only once in 10,000 years, the findings...

Reinsurance rates are falling amid a glut of capital in the industry, according to reinsurance broker Guy Carpenter. In its latest market report, Guy Carpenter said property-catastrophe reinsurance rates during January 1 renewals were down 11 percent...

The fast-growing insurance-linked securities (ILS) market is still in its early days of development and 2014 will provide some clues about its future impact on traditional reinsurers. That is the view of Steve Evans, a leading observer of the ILS mar...

Bermuda Commercial Bank is set to buy and move into the LP Gutteridge Building in Hamilton. The purchase of the bank’s new 29,000 sq ft home was revealed today in the earnings statement of its parent company Somers Ltd. It comes after a solid year fo...

Insurer Argus Group Holdings Ltd’s profit for the first six months of its financial year fell by 77 percent to $1.6 million, chiefly as a result of unrealised losses in the value of its fixed-income investments. Argus chief executive officer Alison H...

Bermuda’s reinsurers will be among those paying out estimated claims of between $960 million and $1.9 billion related to high winds that battered parts of Western Europe last week. The range represents the preliminary estimate of catastrophe modellin...

Bermuda’s property and casualty re/insurers will likely see their profit margins come under pressure in 2014, according to stock research analysts Keefe, Bruyette & Woods (KBW). In a report published this week, KBW said the sector faced pricing press...

Bermuda’s imports have risen significantly in each of the first three quarters of this year, the latest Government statistics reveal. The Government’s detailed quarterly statistics show that the value of imported goods increased by 9.8 percent in the...

Investors led by insurance industry veteran Brian Duperreault have made a deal to buy out Bermuda reinsurer SAC Re. The company, which was launched with the backing of billionaire trader Steve A Cohen last year, will be renamed Hamilton Re on the clo...