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Tough times lie ahead for reinsurers and some may struggle to survive, according to rating agency AM Best. In a special report on the industry’s first quarter, AM Best notes that the group of 16 companies it monitors — half of which are based in Berm...

It has been a busy first year for Paul Scope, who took the reins of Willis Bermuda last April. The parent company has since been involved in two significant mergers and is now known as Willis Towers Watson. At a local level, the company is undergoing...

Bermuda recorded its seventh consecutive year of job losses as the total number of posts held fell by 156, according to government statistics released today. The total number of jobs in the island’s economy was 33,319, down from 33,475 in 2014, a fal...

XL Group’s shareholders have approved the company’s plans to become a Bermudian company. The international insurer and reinsurer, which operates under the XL Catlin brand, plans to complete its redomestication to the island from Ireland within the ne...

Shoppers paid 1.1 per cent more for the standard basket of goods in April than they did a year ago. Government statisticians said the level of inflation increased by 0.1 of a percentage point over the 1 per cent measured in March. The Consumer Price ...

Only one stock was traded on The Royal Gazette/BSX Index yesterday, leaving the index unchanged at 1,174. Ten Bank of Butterfield preference shares were exchanged, but without any change to the closing price of $1,075. The BSX Insurance Index could n...

Insurance giant Chubb has appointed a new Bermudian graduate trainee. Denzel Simons, an economics graduate from Florida International University, has joined the excess liability department on the two year programme, designed to provide recent graduat...

Cyber-risk insurance has the potential to create a new market and revenue stream for the insurance and reinsurance industry. And it may eventually become a stand-alone single peril class, something many underwriters would like to see happen. Those we...

Staff at drinks firm Bacardi have got on their bikes as part of the company’s drive to be greener. Now Bacardi has been honoured with an award from the Bermuda National Trust, which will be presented tomorrow. Clara Fay, director of corporate affairs...

Top restaurant Marcus’ has a new executive chef. Herb Wilson, who has an international background in the kitchen, joins the Hamilton Princess restaurant from Red Ginger, a southeast Asian restaurant in Florida’s South Beach. Allan Federer, general ma...