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One of the rescuers of Butterfield Bank has hit trouble in the Caribbean. Canadian Imperial Bank of Commerce (CIBC) and two other Canadian banks have written off more than $1 billion in the region since the recession hit. And yesterday David Hills, a...

A US asset management firm has opened a reinsurer in Bermuda — and it could lead to a jobs boost for Bermuda. Sandell Asset Management, which has offices in New York and London, has launched Sandell Re in a bid to increase long-term investment cash. ...

A Bermuda-based firm has created space history with the blast off of the first all-electric satellites. A communications satellite owned by Asia Broadcast Satellite (ABS) joined a twin satellite from French-based Eutelsat Communications in the launch...

Veteran businessman David Cash has become a director of Bermuda Commercial Bank (BCB), it was revealed yesterday. Mr Cash, the former CEO of insurance and reinsurance firm Endurance Special Holdings, is one of two new faces on the bank’s board of dir...

Pedal-powered boats are set to make their debut in Bermuda. The hydro-bike plan is the brainchild of entrepreneurs Iesha Castle and Aaron Williams, whose Funworx Bermuda expects to have ten of the machines on the Island by next month. The duo hope to...

Bermuda firms could save hundreds of thousands of dollars by fine-tuning custom software to increase processing speed, an industry expert said yesterday. Dmitry Mnushkin, president of Treefrog Consulting, said a review and code optimisation could be ...

A Bermuda fund administrator has passed the $3 billion mark in assets under administration after only three years in business. ILS Fund Services — which provides fund administration and valuation services to funds that invest in insurance linked secu...

Profits at Enstar Group rose by more than $5 million in 2014, the firm has revealed. Enstar — which specialises in acquiring and managing insurers in run-off — reported net earnings of $213.7 million for 2014, compared to $208.6 million the year befo...

The marketing chief of Bermuda-based Bacardi has been listed as one of the top in his field in an international awards scheme run by professional magazine Advertising Age. Chief marketing officer Dmitry Ivanov has made the magazine’s “40 under 40” li...

A massive Chinese investment firm could open an office in Bermuda. The news came as Fosun International cemented a deal to become Bermuda-based insurer Ironshore’s biggest shareholder. Ironshore chief operating officer Mitch Blaser said: “We will wor...