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NEW YORK (Reuters) — Bermudian-based bond insurer Assured Guaranty, which has more than $5 billion at stake in Puerto Rico’s debt crisis, has sued the US territory and its financial oversight board, objecting to a fiscal turnaround plan approved by t...

There was no change to The Royal Gazette/BSX Index, which remained at 2,075.92. Only 84 shares of Butterfield Bank were traded, with no change to the closing price of $34. On the New York Stock Exchange the bank’s shares fell four cents, or 0.12 per...

Investment management firm Markel CatCo has announced two promotions. Alissa Fredericks has become chief risk officer after joining the company a year ago as a senior actuary. And Simon Moore has been appointed co-chief underwriting officer, alongsid...

Public consultations were today launched over the future of electricity supply on the island. The Regulatory Authority said the public consultations were a “an important and key opportunity” for business and individuals to provide their views on the ...

Island-based insurer Enstar Group Ltd’s first-quarter earnings rose by more than 20 per cent. The company posted net income of $54.7 million, or $2.80 per share, compared to $45.5 million, or $2.35 per share in the January-to-March period last year. ...

Island-based oil tanker operator Nordic American Tankers Ltd this morning reported a first-quarter loss of $3.4 million, after reporting a profit in the same period a year earlier. On a per-share basis, the company said it had a loss of 3 cents. Loss...

A team of industry experts, led by the Bermuda Business Development Agency, heads to Vancouver and Toronto this week to raise awareness about the value of captive insurance to Canadian corporations. The team visits Vancouver, BC, on Monday and Tuesda...

Dear Dave, I’d like to get involved in real estate investing, but I don’t have a lot of cash at present. What do you think of the idea of crowdfunding as a way to invest in real estate? — Adam Dear Adam, I’ve got a bunch of real estate, and I love i...

The insurance industry is one major loss event away from a crisis, a company CEO has warned. Alex Maloney, CEO of Lancashire Holdings, said the current regime of tight margins was “unsustainable” and a catastrophe could change the dynamics of the mar...

Lloyd’s of London insurer Neon is celebrating its first year in Bermuda. Chris Fisher, the chief executive officer, started the firm with just one other staff member. It now has a staff of six, with plans to recruit another. Mr Fisher hopes to grow t...