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Shares of Butterfield Bank today rose $1 to $30 in Bermuda Stock Exchange trading. The move, equivalent to 3.4 per cent, came after 349 shares traded. On the New York Stock Exchange, the bank’s price was up 84 cents or 2.76 per cent at $31.27. Utilit...

Bermuda-based global payment gateway First Atlantic Commerce and Butterfield Bank have teamed up to offer island charities cut-rate online processing fees. FAC will provide online gateway transaction processing services free of charge to local charit...

Reinsurance firm RenaissanceRe has announced two management changes. Sean Brosnan, vice-president, managing director investments of Renaissance Services of Europe, and CEO of Renaissance Reinsurance of Europe, has been promoted to senior vice-preside...

The Bermuda Foundation for Insurance Studies aims to raise more than $2 million next year to help fund its programmes. The charity said its endowment fund at present stood at just under $5 million. But David Souter, BFIS treasurer, said that the orga...

Two new reinsurance firms were last month registered in Bermuda. The Bermuda Monetary Authority said Bonanza Re, a special purpose insurer, and Transportation Reinsurance Underwriting Company of Kentucky, a Class 3 insurer, were the new November addi...

Rating agency AM Best said yesterday the outlook for the reinsurance industry next year remained gloomy. AM Best said it would hold its outlook at “negative” and blamed continuing market challenges which will hit positive rating actions — which could...

The Bermuda Business Development Agency has appointed two new directors. Andrea Jackson, senior vice-president and trust relationship manager at Lombard Odier Trust Bermuda and Stephen Weinstein, senior vice-president and group general counsel at Ren...

Electrical contractor Besco has a new general manager. Craig Davis, formerly general manager of telecoms firm LinkBermuda, has extensive experience in operational management. Mr Davis said: “I’ve had the pleasure of working with Besco as a customer i...

Borrowers are set to pay more interest on their mortgages and loans after the central bank of the US declared an interest-rate rise of a quarter of a percentage point. The increase in the US Federal Reserve’s federal funds rate, which was widely anti...

Shares in telecoms firm KeyTech plunged by nearly a third in Bermuda Stock Exchange trading today. KeyTech dropped 95 cents, or 32.2 per cent, to $2 after 5,300 shares traded. The fall followed a 70-cent rise for KeyTech on Tuesday. Butterfield Bank,...