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A US hedge fund has upped its stake in the Bermuda Stock Exchange to more than 40 per cent. And Murray Stahl, co-founder of the multi-billon dollar hedge fund firm Horizon Kinetics, where Newstead and Belmont Hills owner Larry Doyle is managing direc...

Aspen Insurance Holdings yesterday said its insurance operation had recorded the strongest quarterly underwriting performance in company history — but net income plunged due to investment losses. The Bermuda-based firm recorded underwriting income in...

Bermuda-based Endurance Specialty Holdings yesterday posted third-quarter profits of $43.6 million, as acquisition expenses hit earnings. The company said last night it recorded $64 million in one-time transaction and integration expenses associated ...

Bermuda is outranked on a tax secrecy list by Britain, the US and the Cayman Islands. Bermuda is 34th in the rankings of 100 countries for tax — while the Cayman Islands ranks fifth on the list. Switzerland tops the list, followed by Hong Kong, the U...

The sale of two arms of its operation is set to boost the undeployed capital at White Mountains Insurance Group to $2.5 billion. Bermuda-domiciled financial services group Symetra has been bought over by Sumitomo Life Insurance of Japan, while reinsu...

Restaurant chain Buzz is to shut three self-service buffets due to lack of trade. The self-service selections at the firm’s outlets in the Esso City gas station, the Hamilton Pharmacy and Pitts Bay Road in Pembroke will all cease operations today. Co...

A pharmacy has expanded to a massive 11,000 square feet and extended the range of goods on offer. People’s Pharmacy, which opened on Victoria Street more than 30 years ago with just 900 square feet, has taken over a former furniture store on Church S...

Insurance and reinsurance firm Validus Holdings posted operating earnings of $73.6 million in the third quarter of the year, the company announced yesterday. Validus’ net operating income was 86 cents per share, beating the 78 cents per share expecta...

A director of the Bermuda Monetary Authority (BMA) has quit his post. E Barclay Simmons stepped down after nearly nine years on the board of the Island’s financial regulator. Mr Simmons, who is also the manager of ASW Law, resigned from the board due...

Bermuda global law firm Appleby shut its London office because of a “rationalisation of resources” ahead of a management buyout of its fiduciary business. Appleby said it had examined the need for a London presence for some time due to the closeness ...