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Cybercrime is one of the world’s fastest growing industries, representing $1 trillion in revenue lost or stolen. Victims range from private businesses and individuals to government organisations. The devastating impact of a cyberbreach was spelt out ...

The Royal Gazette/BSX Index was unchanged at 2,314.47 after a day with no trades. On the New York Stock Exchange, shares of Butterfield Bank were up 37 cents, or 0.95 per cent, at $39.37. The BSX Insurance Index was down 10.22 points, or 0.55 per cen...

Aspen posted a net loss of $184.9 million in the fourth quarter of last year — results described as “well below acceptable levels” by the insurer’s chief executive officer. The Bermudian-based company had warned last month that underwriting losses f...

Malcolm Butterfield is the new chief executive officer of the Bermuda Insurance Institute. The institute has also relocated to new offices within O’Hara House, home of XL Catlin, on Bermudiana Road. Mr Butterfield has insurance and reinsurance experi...

Shares of Butterfield Bank dropped by $1, or 2.5 per cent, to $39 after 6,047 traded on The Royal Gazette/BSX Index. Meanwhile, on the New York Stock Exchange, the bank’s shares were up 15 cents, or 0.38 per cent, at $39.52. The Royal Gazette/BSX Ind...

Bermuda was home to 739 active captive insurance companies as of the end of last year, according to financial-services regulator, the Bermuda Monetary Authority. The BMA said 17 new captives were registered in 2017, up from 13 in 2016. Jeremy Cox, t...

Blue Capital Reinsurance Holdings Ltd said it saw double-digit percentage rate increases during January renewals. Mike McGuire, the Bermudian company’s chairman and chief executive officer, said: “Following the significant industry losses experienced...

A beauty and massage salon in Hamilton is up for sale as the owner is leaving the island later this year. Northern Rose Salon opened its doors five years ago, and has enjoyed success. After starting as a team of two, there are now three members of st...

Validus Specialty Underwriting Services has launched a new product to cover cyber-risk. The stand-alone product from the US subsidiary of Bermudian-based Validus Holdings is focused on privacy and network protection coverage, the company said today....

Bermudian bond insurer Assured Guaranty has struck a $13.5 billion reinsurance deal with Syncora Guarantee, a US subsidiary of another Bermudian company, Syncora Holdings. Under the agreement, Assured will provide reinsurance, generally on a 100 per ...