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Italian investment giant Exor plans to propel Bermuda reinsurance firm PartnerRe into the top tier. Exor CEO John Elkann, part of the billionaire Agnelli family that runs the company, said he hoped to put PartnerRe in the top four reinsurers in the w...

Bermuda’s only paint manufacturers saw profits rocket by 535 per cent last year. Devonshire Industries, the parent of Bermuda Paint Company, reported net income of more than $317,700 for the year ended in March — up from just over $50,000 the year be...

The helmsman of America’s Cup holders Oracle Team USA is to steer a course for a major reinsurance conference. Jimmy Spithill, a two-time winner of the coveted sailing trophy, will be the keynote speaker at the Bermuda Convergence 2015 event next mon...

The Bermuda Commercial Bank (BCB) has bought up a London-based finance company. BCB has acquired equity and convertible loan notes from its parent Somers Ltd in the Private and Commercial Finance Group (PCFG). It is the intention of the bank to conve...

Professional services firm KPMG is to hold two special seminars to alert charities to the dangers of money laundering and terrorist financing. KPMG’s David Harper said that the Charities Act required registered charities to ensure “relevant officers”...

New player Hamilton Re will enter the property insurance market, CEO Kathleen Reardon said yesterday. Ms Reardon added that the firm would also join the facultative market — a form of reinsurance in which a contract is negotiated for a specific insur...

Bertil Olsson, a Swedish insurance industry veteran, will become the new chief executive officer of the Bermuda-based Oil Group at the start of next year. He will succeed Robert Stauffer, who last October announced his plans to retire from the speci...

The world insurance market against cyber crime will hit $5 billion within three years, experts said yesterday. And they predicted it would reach at least $7.5 billion within five years. The news came in a report from professional services firm PwC at...

Overall company strategy and holding on to value are key to taking advantage of the record numbers of mergers and acquisitions in insurance. Arthur Wightman, head of the Bermuda territory and insurance for financial services firm PwC, said a new repo...

A new programme designed to inspire a new generation of entrepreneurs will be unveiled tonight. Gary Schoeniger, US-based co-founder of the Ice House programme, has travelled to Bermuda to launch a series of classes. Mr Schoeniger said that as — trad...