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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...

Bermuda registered 1,200 new companies last year — the most in five years. Education and Economic Development Minister Grant Gibbons said it was “one more sign that Bermuda is moving in the right direction after years of decline”. In a statement rele...

Bermuda-based Endurance Specialty Holdings Ltd annual earnings more than doubled to $279.2 million as the company benefited from lower catastrophe claims. The company, which has undergone a major management shake-up since John Charman took over as CE...

XL Group’s annual earnings topped $1 billion for 2013, up more than 60 percent from the previous year. The global business insurer’s CEO Mike McGavick described it as “another year of solid progress”. Net income for the year was $1.1 billion, or $3.6...

Bermuda reinsurer RenaissanceRe Holdings Ltd’s full-year profit rose 17.6 percent, as fewer catastrophes reduced claims. The catastrophe reinsurance specialist, which set up in Bermuda 21 years ago, last night reported net income of $665.7 million fo...