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MS Amlin — a global reinsurer with a Bermuda branch — is aiming to reduce staffing costs by about 10 per cent, according to trade press reports out of Britain. The move comes after a year of heavy catastrophe losses for the industry and consequent re...

Bermuda Rentals is under new ownership and is in the process of moving to a new home. Last August, the 30-year-old company was bought and taken over by business man Ray Beaulne. Mr Beaulne decided to buy the business when the previous owner was about...

Board diversity, female leadership, cyber-risk, blockchain and climate change are among the topics on the 2018 agenda of the fourteenth Bermuda Captive Conference, which will be held from June 11 to 13 at the Fairmont Southampton. There will be a mix...

Two consecutive large swings in the price of Butterfield Bank shares on The Royal Gazette/BSX Index have led to equally big shifts for the local exchange. The bank’s shares rebounded $4.95, or 12.7 per cent, to close at $44 after 384 traded today. T...

Butterfield Bank has completed the acquisition of the Deutsche Bank Global Trust Solutions. In a statement the bank said that former GTS employees and accounts had successfully transitioned to Butterfield and all trust and fiduciary services for for...

The chairman of Aspen Re is to retire from the company at the end of April. Brian Boornazian will also retire from his role as chief executive of Aspen Re, Americas. Chris O’Kane, group CEO, thanked Mr Boornazian for his 14 years of service with Aspe...

Bermuda has fallen seven places in the world’s top financial centres rankings and been leapfrogged by Cayman Islands, according to a report published by the City of London. The 23rd Global Financial Centres Index which is compiled by the Z/Yen Group ...

Oil Casualty Insurance Ltd made a narrow profit last year in what its chief executive officer described as “a challenging market environment”. Ocil, which has evolved from an energy-focused mutual underwriting the risks of its shareholder companies i...

A popular restaurant and bar is closing down after 10 years in business. Victoria Grill Restaurant and Rumbar Lounge, located on Victoria Street, will be closed for business effective this Saturday. The restaurant and bar are part of the Island Resta...

Technology is front and centre in the minds of chief risk officers in Bermuda, a survey has found. The second annual survey of island-based insurance CROs by professional-services firm EY found that the risk functions within companies are playing an ...