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Indian Hotels has made a $1.86 billion bid to take over Bermuda-based Orient-Express Hotels. The offer amounts to $12.63 per share, representing a premium of 40 percent over Orient-Express’s closing share price on Wednesday. Indian Hotels, which is a...

Ten thousand residents — or more than a quarter of the Bermuda workforce — are either unemployed or underemployed. That is the stark finding of a survey published by the Department of Statistics yesterday, which reveals more about the impact of busin...

Butterfield Bank spent $1.84 million buying back nearly 1.5 million of its own shares in September. In a filing with the Bermuda Stock Exchange (BSX) yesterday, the bank said it bought for Treasury 1,494,678 common shares at an average cost of 1.232 ...

Bermuda reinsurer Validus Holdings Ltd has agreed to buy Flagstone Re in a deal valued at $623.2 million. The two companies expect the deal to close in the fourth quarter of this year and the combined company will maintain Validus’s name, headquarter...

Bermuda-based Enstar Group Ltd has agreed a deal to acquire US insurer SeaBright Holdings, Inc for around $252 million. Enstar will pay $11.11 per share in cash. The purchase price represents a 34.3 percent premium over SeaBright’s closing stock pric...

The shares of Bermuda-based run-off specialist Enstar Group Ltd soared more than six percent in New York Stock Exchange trading on Friday after the company announced that second-quarter earnings more than quadrupled. Net earnings were $40.7 million, ...

New legislation to give some companies relief from foreign ownership restrictions has been welcomed by energy company Ascendant Group, which said it would stimulate the availability of overseas capital to fund infrastructure projects. BF&M Ltd CEO Jo...

Insurance CEOs believe that the payroll tax increase of two years ago caused Bermuda jobs to be lost and a “rupture of trust” between Government and the industry. Speaking at a CEO roundtable organised by the Bermuda Insurance Journal magazine, XL Gr...

The downgrade of Bermuda’s credit rating by Fitch will cost taxpayers $15.5 million in extra interest payments on this week’s Government bond issue, according to the opposition One Bermuda Alliance (OBA). In a press conference today, Shadow Finance M...

The Bermuda market’s major US-listed re/insurers bounced back strongly to reap more than $4 billion of net income in the first quarter of this year. This represents a dramatic swing from the $2.67 billion net loss the group of 17 companies recorded i...