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The common reporting standard (CRS) is the Organisation for Economic Cooperation and Development’s (OECD) model for the automatic exchange of information (AEOI) between jurisdictions worldwide. The aim is to increase tax transparency and eliminate ta...

Ascendant Group, the parent of Belco, saw its shares improve by 30 cents, or 4.8 per cent, to close at $6.50 on The Royal Gazette/BSX Index. A total of 400 of the company’s shares were traded. Argus Group dropped 59 cents, or 12.8 per cent, to $4.01 ...

Bermudian-based PartnerRe Ltd has agreed to buy Canadian life reinsurer Aurigen Capital Ltd in a $286 million deal. In a statement released today, PartnerRe described Aurigen as a “top-five life reinsurer” in Canada, which generated gross premiums wr...

Profitable opportunities in the marine insurance sector have been sighted by Hamilton Underwriting Ltd, which has applied to Lloyd’s for permission to write that class of business next year. The company, which is the is the managing agency of Syndica...

Legal firm Sedgwick Chudleigh will tomorrow fake a cyberattack at a seminar — with Bermuda insurance professionals on the spot as the drama unfolds. A team from the Sedgwick Chicago office will discuss current standards for assessing board and manage...

Transferring operational risks, such as from cyberbreaches and rogue trading, to third-party investors through cat bonds, will be discussed at ILS Bermuda Convergence 2016. Two speakers from Credit Suisse, which brought to market the first insurance-...

A long-established rental business is up for sale. Pembroke-based Bermuda Rentals, set up more than 30 years ago by Douglas Howe, rents everything from tents and furniture to cement mixers and carpet cleaners. Mr Howe, who is retiring, said: “The rig...

Telecommunications company KeyTech made a consolidated loss from operations of $2.4 million in its last fiscal year. The company said the loss was primarily the result of a $4.3 million accounting writedown and one-time staff termination charges of $...

Bank of Butterfield shares worth more than $1.5 million traded on The Royal Gazette/BSX Index. The bank’s price of $25.10 was unchanged after 60,283 shares changed hands. On the New York Stock Exchange, Bank of Butterfield went up six cents, or 0.23 ...

Bermuda Government has issued $665 million of senior notes as it repositions the island’s debt. Consequently, the island’s overall debt load has increased by $188.9 million, but in the process the Government has locked in a 3.717 per cent rate on its...