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Bermuda faces a “fiscal cliff” if its debt-to-revenue ratio, currently at 340 per cent, continues to rise. An adverse but “far from inconceivable” scenario would see Government debt on an unsustainable trajectory, leading to a credit rating downgrade...

Cruise ship operator Royal Caribbean Group is selling its Azamara brand, including a fleet of three ships, for $201 million. The Azamara ships have been occasional visitors to Bermuda. The Azamara Quest is scheduled to make one visit to the island th...

The Covid-19 pandemic is estimated to account for $125 million of net claims, pre-tax, in the final three months of last year for Axis Capital Holdings Limited. The Bermudian-based re/insurer has announced a preliminary fourth quarter net claims esti...

A prominent re/insurance lawyer who cofounded the law practice Attride-Stirling & Woloniecki, which is now known as ASW Law Limited, has died at 61. Tributes have been paid to Jan Woloniecki, who was head of litigation at the firm. He gained internat...

Ten insurers and intermediaries had their registration confirmed by the Bermuda Monetary Authority last month. Cedar Hamilton Limited was registered as a Class 3 insurer, and Stellar Risk Solutions (Bermuda) Ltd as a Class 1 insurer. The special purp...

Farah Ballands has decided to step down as chief executive officer of Ocorian. She will be succeeded by Frederik van Tuyll, the current chairman, on March 31. She guided Ocorian and Estera through a merger last year. Estera was spun off from law firm...

More than 6,000 metric tonnes of greenhouse gas is generated by RenaissanceRe's Bermuda operations each year, with air travel and purchased electricity accounting for the bulk of the carbon emissions. To offset the impact of those emissions it is su...

One of the major cruise operators that sails to Bermuda burnt through an average of $500 million a month during the fourth quarter. In a preliminary summary, Carnival Corporation reported adjusted net loss of $1.9 billion for the three-month period. ...

A billion-dollar data and software company that moved staff to Bermuda as digital nomads last year, has an ambition to increase its presence to 1,000 staff on the island within five years. If all goes to plan, Afiniti could account for 10 per cent of...

Traditional dedicated reinsurance capital at the end of 2020 was estimated at $397 billion, a marginal increase year-on-year. Favourable valuations of asset levels and capital initiatives saw capital levels recover from a midyear decline. The estimat...