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A broken-down crane contributed to a six-month loss for Polaris holding company for Stevedoring Services — despite a small increase in cargo volume. The firm posted a loss of $281,968 for the period between March and the end of September last year, e...

A Bermudian entrepreneur is hoping to conjure a new business out of thin air — with a company specialising in balloon creations. Mickey Butterfield aims to get her new venture — called Clusters — off the ground in time for St Valentine’s Day. And she...

It was lucky 13 for the Bermuda Stock Exchange (BSX) in 2014. The Royal Gazette/BSX Index closed 12.99 per cent up on 2013, ending the year at 1,357.12 points, driven by an increase of about one third in the share price of the index’s biggest compone...

A $75 million special purpose reinsurer has been launched to back a major UK-based firm. Bermuda-based Versutus will reinsure a share of global British company Brit Insurance’s property catastrophe excess of loss portfolio. It is capitalised by a num...

A major shake-up of the global reinsurance industry will get underway this year, industry experts have predicted. Falling rates, improved terms and conditions, oversupply of capital continuing to outstrip demand and several years of little loss activ...

A series of think tanks aimed at cutting the cost of power is to be held in the New Year, Ascendant has revealed. In a letter, Walter Higgins, CEO of the parent company of electricity firm Belco, said: “In the meantime. our company continues to devel...

A massive $8.8 billion in catastrophe bonds and insurance linked securities (ILS) made last year the market’s busiest on record. And — at the end of the year — the outstanding sum in the sector was more than $25 billion. The news came in the review o...

Prices for some reinsurance policies have plummeted to their lowest for nearly 25 years, according to a global brokers. Areas like UK property catastrophe reinsurance are priced around the same as they were in the 1990s. And a third straight year of ...

The world’s largest reinsurer, Munich Re, has added another Bermuda sidecar to its roster after $75 million of participating notes from a special purpose insurer called Eden Re I was listed. The move follows a similar $290 million Eden Re II Ltd vehi...