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An implementation team to further progress of recommendations made by BermudaFirst should be led by private-sector expertise, says Phil Butterfield. The chairman of BermudaFirst, a think-tank involving about 90 Bermudians which submitted a socio-econ...

Bermuda’s retail community is working hard to end a sales slump that has seen year-over-year declines in 19 or the last 21 months. News about “positive steps” will be shared soon, said Lorraine Shailer, who heads the retail division of the Bermuda Ch...

American International Group Inc has entered into an accelerated share repurchase agreement with Citibank, N.A. to repurchase $500 million of AIG’s common stock. It is part of AIG’s existing share repurchase authorisation of $2 billion announced a y...

Finance ministers of the world’s richest countries want to strike an agreement on a global minimum tax rate by the end of the year. The main aim is to ensure that digital giants like Amazon, Facebook and Google pay taxes in the countries where they m...

Industry veteran Christopher Conway has joined the Bermuda office of TigerRisk Partners LLC. He takes up a newly-created senior role on its reinsurance and retrocession teams, where he will report to Alex Bridges, partner and head of retrocession. Mr...

Insurance industry veteran Michael Butt is to retire from his role as chairman of Axis Capital Holdings Ltd later this year. A co-founder of Axis and member of the Insurance Hall of Fame, Mr Butt has played a leading role in Bermuda’s development as ...

The PRA approval was received on Monday and the FCA approval on Tuesday. These approvals are the last remaining insurance regulatory approvals necessary to successfully complete the transaction with Tiberius. IGI has already received regulatory appro...

Two of the island’s leading business groups will soon be showcasing Bermuda’s expertise in the life re/insurance sector at a major conference in Las Vegas. The Bermuda International Long Term Insurers and Reinsurers and the Bermuda Business Developme...

Butterfield Bank shares dropped $3.74, or 11.2 per cent, to $29.75, after 700 traded on The Royal Gazette/BSX Index. In New York, the bank’s shares were down 38 cents, or 1.26 per cent, at $29.84. On the local exchange, shares of Argus Group Holdings...

Bermuda is set to reap benefits from the merger of Estera and Ocorian, which happened this month. That’s the view of Alison Dyer, managing director of Ocorian’s Bermuda office. There will be no impact on jobs at its office in Bermuda, which has a 74...