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The US and Bermuda reinsurance market outperformed Lloyd’s of London in underwriting last year, according to ratings agency AM Best. The combined underwriting ratio of 87.5 per cent narrowly beat Lloyd’s figure of 88.1 per cent. Lloyd’s, however, had...

A Bermuda-based former trader at an Island company yesterday admitted conspiracy to cook the books at his firm. Michael Craig Marshall, who worked for ConvergEx Global Markets (CGM), pleaded guilty in a US court to one charge of conspiracy to falsify...

Tough new rules could mean international insurance bosses having to live in Bermuda or spend more time here, according to experts. And big firms may also have to look at the residence of members of their boards — and make sure that decisions about Be...

Bermuda-based Hamilton Insurance Group has broken into the massive Lloyd’s of London market with its latest acquisition. The firm’s deal to take over Sportscover Underwriting Ltd — a Lloyd’s managing agent for Syndicate 3334 and Kinetic Brokers, a Ll...

Insurance and reinsurance giant XL yesterday launched a new venture capital firm aimed at investing in financial technology. XL Innovate, which will be based in California, will be headed by Tom Hutton, the founder and CEO of New Energy Risk Inc, a d...

Employers are facing a human resources crisis, a new survey by financial services firm Deloitte has found. The survey said that lack of employee engagement and problems in retention of workers were a worry for 87 per cent of human resources and busin...

Tokio Millennium Re (TMR) has appointed a new CEO. Stephan Ruoff yesterday took over as head of the firm, founded in Bermuda 15 years ago. Mr Ruoff said: “I’m delighted to be leading TMR into an exciting new phase of development. “We have established...

Insurance and reinsurance broker Willis Group Holdings has announced industry veteran Paul Scope will head up its Bermuda operation. Mr Scope has been appointed chairman of Willis Bermuda and he will oversee Willis’s risk adviser, insurance and reins...