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Declining energy prices have dampened the rate of inflation to a six-year low. The rate of inflation slid to 1 per cent in September, according to Government statistics released today. That is the lowest for any month since December 2009, when Bermud...

Bermuda-based shipping company Teekay Tankers Ltd saw its profit rise in the third quarter as spot charter rates for its oil and gas tankers increased. Teekay, which owns 51 tankers of various sizes, reported net income of $41.2 million, or 30 cents ...

XL Group reported a slump in third-quarter net income as a $96 million hit from the Tianjin explosion and integration costs related to its merger with Catlin took their toll. Net income in the first complete quarter for the combined XL Catlin busines...

Retail sales rose in August, year over year, for the twelfth successive month, reinforcing the trend of increased consumer spending. After being adjusted for inflation, sales were up for a ninth successive month. Retailers took an estimated $83.9 mil...

Business leaders believe the economy is moving in the right direction and consumer confidence has hit an eight-year high, according to a snapshot of results from a Bermuda survey. The HSBC Business Confidence Index, based on a survey carried out in ...

Global insurer Ace Ltd generated record operating income for the third quarter and comfortably beat analysts’ estimates. Net income was down by nearly a third, however, to $528 million in the July through September period, compared to $785 million, a...

As official insurer of Oracle Team USA, Bermuda-based Ironshore is underwriting not only the risks of the team, but also many aspects of the America’s Cup events. Since Oracle is the defender, it is hosting all the events associated with the ‘Auld Mu...

In nearly 33 years with the Argus Group, David Pugh has experienced the highs and lows of bearing senior-management responsibilities for a publicly traded company. And as he looked back on his career after stepping down last month as chief financial ...

Bermuda-based Axis Capital Holdings Ltd is to cut “a small number” of jobs at its Bermuda office as part of a global streamlining. But Albert Benchimol, the company’s chief executive officer, stressed yesterday that the insurer and reinsurer remains ...

Bermuda-based Axis Capital Holdings Ltd plans to cut 100 jobs from its global workforce — including a small number in Bermuda. The streamlining announced this morning by the insurer and reinsurer includes the closure of its Australian retail insuranc...