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Shares of Butterfield Bank fell by $1, or 2.7 per cent, to $36.50 after 100 traded on The Royal Gazette/BSX Index. However, the bank’s shares were up 72 cents, or 1.96 per cent, on the New York Stock Exchange. On the local exchange, a total of 5,000 ...

Charles Goldie is the new chief executive officer of property and casualty at PartnerRe Ltd, following the retirement of Tad Walker. Since 2010, Mr Goldie has headed up PartnerRe’s specialty lines business, and as a member of the executive management...

The Financial Policy Council has advised the Bermuda Government to take a proactive approach in dealing with risks to the island’s economy emanating from the “Paradise Papers”. Bermuda Monetary Authority, the financial regulator, hosted the sixth me...

Robert Cartwright is the new president of the Risk and Insurance Management Society, the organisation that hosts the Rims Annual Conference and Exhibition in North America. Mr Cartwright succeeds Nowell Seaman in the top role. He is the division mana...

Reinsurers saw lower rate increases than they had hoped for after one of the biggest insured loss years on record during the January 1 renewals, a leading broker has reported. Willis Re, in its report entitled Extreme Weather — Calm Market, said pric...

The University of Vermont Health Network is to move its captive insurance company from Bermuda to Vermont. The cost of the move is expected to be between $35,000 and $50,000, and the state of Vermont will collect about $50,000 annually in premium tax...

Google uses two structures, known as a “Double Irish” and a “Dutch Sandwich,” to shield the majority of its international profits from taxation. The set-up involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and ...

Bermudian-based Sompo International’s US insurance platform has reached an agreement to buy the operating subsidiaries of Lexon Surety Group. Lexon, the second largest independent surety insurer in the US, is comprised of Lexon Insurance Company, B...

A total of 600 shares of One Communications traded on The Royal Gazette/BSX Index, but there was no change to the closing price of $3. The stock was the only one traded on the exchange, which was unchanged at 2,199.48. On the New York Stock Exchange,...

Bermudian-based Qatar Re has struck a deal to buy Markerstudy’s Gibraltar-based insurance companies. Markerstudy underwrites more than 5 per cent of the UK motor insurance market, generating premiums of £750 million ($1.01 billion). Under the sales p...