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AM Best has placed the credit ratings of Hamilton Re and its subsidiaries under review with developing implications after the resignation of its CEO Brian Duperreault. Reacting to the rating service’s action, Jonathan Reiss, Hamilton Insurance Group’...

Bermuda was targeted by a computer ransomware virus creating havoc around the world, an IT expert said yesterday. Ronnie Viera, chief operating officer at online payment company First Atlantic Commerce, said: “We can see that Bermuda was targeted. “W...

The departure of Brian Duperreault from Hamilton Insurance Group to US giant AIG will be a boost for both companies, Hamilton Re CEO Kathleen Reardon said yesterday. Ms Reardon added that closer relationships between the two firms would lead to a bus...

NEW YORK (Bloomberg) – American International Group will give Brian Duperreault $12 million in cash, 1.5 million stock options and an annual pay package valued at $16 million to turn around the company as its seventh chief executive officer since 200...

Feedback. One of the greatest gifts we receive from our families, our friends, and our clients is feedback on what we are doing, how we are doing it, what is great, and what can be improved. Without these inputs there would be little incentive to lo...

Inflation rose to its highest level in two-and-a-half years as the rising cost of gasoline, healthcare and education took a toll on consumers. The cost of living was 2.4 per cent higher in March than in the same month of 2016, according to the Consum...

Fitch Ratings sees no end in sight for soft pricing in the reinsurance market. The credit rating agency believes the soft market will last through to the end of this year at least, driving more companies to seek merger partners. “We expect premium ra...

Insurance firm BF&M dropped 50 cents to $21 on The Royal Gazette/BSX Index. The fall, equal to 2.3 per cent, came after 600 shares traded. Telecoms company One Communications also dropped, down 30 cents, or 10.7 per cent, to $2.50 after 20,500 shares...

A double whammy of cuts in the UK discount rate for bodily injury lump-sum payouts and higher natural disaster losses has hit earnings of the island’s insurance and reinsurance industry. A report by ratings agency Standard & Poors said the combinatio...

Bermuda saw a near 30 per cent drop in offshore insolvency filings last year compared to the year before, the lowest figure since 2013. The island saw a total of 15 compulsory winding up orders last year. In addition, the conversion rate for Bermuda,...