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Britain’s impending departure from the European Union will be good for Bermuda’s reinsurance industry, according to the man at the helm of one of the sector’s leading companies. Kevin O’Donnell, chief executive officer of RenaissanceRe Holdings Ltd, ...

The reinsurance industry needs to play more than just lip service to diversity, a panel warned an industry conference yesterday. And speakers said that the business needed to mobilise and motivate underrepresented groups to ensure it stays relevant a...

The Bank of Butterfield today rose on both The Royal Gazette/BSX Index and the New York Stock Exchange. On the BSX, the bank went up by 90 cents, or 3.6 per cent, to $26 after 2,956 shares traded. In New York the bank’s price stood at $26.95, a 68 ce...

Retail sales in August increased 2.9 per cent above the $91.4 million recorded in the same month a year ago. During the past year retails sales have improved every month apart from May, when they fell in volume and value. In August, five of the seve...

Bermuda’s economy grew in the second quarter of the year, driven by an increase in services exports and higher capital spending. Gross domestic product — a measure of all the goods and services produced by the island — totalled $1,442.7 million, up 2...

Mortgage reinsurance is turning out to be a bright spot in a tough reinsurance market and the growth trend is set to continue, according to a top industry analyst. But Taoufik Gharib, senior director at S&P Global Ratings, added that reinsurers with ...

Hi-tech is the key to ensure the island’s reinsurance industry can compete with new business models, an expert said yesterday. Arthur Wightman, leader of financial services firm PwC and regional insurance and markets leader, explained: “While most re...

Butterfield Bank will raise residential mortgage rates if the US Federal Reserve hikes rates next month by 25 basis points, as happened a year ago. The revelation came from one of the bank’s senior executives in Butterfield’s third-quarter earnings c...

A series of new webcasts is to highlight the island’s attractions as a home for captive insurers. The Bermuda Business Development Agency videos are to be released over the next four weeks and are designed to show major corporations of all industries...

Homeware giant Gorham’s is celebrating its 80th anniversary. The firm, founded by A.J. Gorham in 1936, has grown from a small lumber business on Hamilton’s Front Street to a supermarket-style operation in Pembroke. And Rod Farrington, senior manager ...