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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,...

Long-running pharmacy People’s has opened a second store in the acute care wing of the King Edward VII Memorial Hospital. Tamara Richardson, vice-president of People’s, said: “We were very happy to have been chosen by Bermuda Hospitals Board to partn...

Value. At this time of year we hear a lot of ads about value. In order to really understand this we need to know what real value means to you. If you are buying something for yourself or another person then this measure is really the worth, importan...