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The Bank of Butterfield has announced profits of $77.7 million for 2015, down by $30.5 million compared to the previous year. The profit represents earnings per share of 12 cents, down from the 16 cents recorded in 2014. Michael Collins, Butterfield’...

Insurance and reinsurance company Lancashire Holdings yesterday posted after-tax profits of $54.4 million for the last quarter of 2015. The figure takes the profits for the full year to more than $181 million. The quarterly profit is down $32.4 milli...

Banks are suffering the biggest pressures since the recession hit in 2008, a report from professional services firm PwC said yesterday. A still struggling global economy, poor business performance and risk from cyberattacks as well as increased regul...

Top banker Sandy Weill has retired as chairman of the board of Hamilton Insurance Group. Mr Weill, former chairman of Citigroup, will be succeeded by Hamilton founder and chief executive officer Brian Duperreault, however he will continue to advise t...

Bermuda’s business community believes that tackling the island’s debt mountain was key to revitalising the economy. Chamber of Commerce president John Wight said: “Government has a very challenging job to narrow the 2016-17 year deficit in order to m...

Bermuda’s business community today said that tackling the island’s debt mountain was key to revitalising the economy. Chamber of Commerce president John Wight said: “Government has a very challenging job to narrow the 2016-17 year deficit in order to...

A top executive from Bermudian-based drinks giant Bacardi has appeared before a US House of Representatives committee in a trademark battle with the Communist government of Cuba. Rick Wilson, Bacardi senior vice-president for external affairs, was ca...

Bermudians are worried about their ability to afford retirement, an expert from HSBC said yesterday. Renee Bullock-Cann, HSBC Bermuda head of retail banking, wealth management and marketing, said that a worldwide survey by the bank registering concer...

Electronics firm P-Tech is to merge with rival The Complete Office, it was revealed late today. P-Tech, part of the Phoenix Stores group, will move The Complete Office and its stable of products into its existing Reid Street store, where it will trad...

Bermuda was among offshore jurisdictions that came under the spotlight in an undercover probe by a charity into the movement of suspect funds into the US. An investigator from charity Global Witness, backed by Christian Aid, posed as the representati...