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Insurers should be ashamed every time a major event results in a large gap between economic losses and insured losses, according to Mike McGavick. Mr McGavick, chief executive officer of Bermudian-based XL Catlin, said one take from Hurricane Maria a...

The Bermuda reinsurance market has proved its resilience — but the industry needs to embrace disruption in order to claim future opportunities. That is the view of Arthur Wightman, PwC Bermuda leader and insurance leader, who told delegates at a conf...

Bermuda has a role to play in the development of fintech and insurtech, but there are differing view about the extent to which the island is likely be involved. The question of how insurers and reinsurers can deploy capital in fintech and insurtech o...

Magnum Power Force Gym has introduced virtual exercise classes. Les Mills virtual classes have been around for years in other parts of the world and now locals can enjoy it at Magnum. Karen Hodgkins, who took over as the gym’s sole owner in March, sa...

US lawmakers were yesterday considering revisions to the section of a tax overhaul bill that would have a costly impact on some Bermudian-based insurance groups. Meanwhile, Mike McGavick, chief executive officer of Bermudian-based XL Catlin, said eve...

Shares of Somers Limited were up 25 cents, or 1.8 per cent, to $14.50 after 700 traded on The Royal Gazette/BSX Index. Butterfield Bank also improved by 45 cents, or 1.3 per cent, to $35 after 463 shares changed hands. On the New York Stock Exchange,...

Shares of Maiden Holdings plunged by more than 20 per cent in after-hours trading after the reinsurer reported a net loss of $63.6 million for the third quarter, driven primarily by a bolstering of loss reserves. The Bermudian firm’s net operating l...

Maurice Doyle has rejoined Bacardi as president of incubation brands and global commercial development. Under the leadership team in Bermuda, he is charged with driving brand equity and accelerating performance in some of the smaller, high-potential ...

Reinsurers need to innovate and embrace technology if they are to survive and thrive — and transformational disruption will need to be from within organisations as well as from the outside. There is also a pressing need to attract more of the millenn...

There is a huge gap — tens of billions of dollars wide — between the third-quarter catastrophe loss estimates of reinsurers and those of risk modellers. But whatever the true losses turn out to be, reinsurance prices are likely to rise significantly ...