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Wildfires raging through Alberta are now expected to be classed as a “reinsurance event” with the natural disaster looking to be the costliest natural disaster in Canada’s history. The three largest local primary insurers have direct exposure that is...

Leicester City’s stunning Barclays Premier League triumph has brought joy to the hearts of football supporters everywhere — apart from certain Manchester, London and Merseyside postcodes. After all, everyone loves it when an underdog succeeds. It mak...

LONDON (Bloomberg) — Freeport-McMoRan Inc agreed to sell its Democratic Republic of Congo copper mine to China Molybdenum Co for $2.65 billion as the Phoenix-based company reduces debt racked up in the commodities boom. China Molybdenum will acquire ...

Bermuda yesterday figured in a list of more than 200,000 shell companies set up by a Panamanian law firm. Nearly 150 Bermuda entities are named in the massive leak of documents from Panama lawyers Mossack Fonseca, dubbed the Panama Papers. And the la...

Shares of utility Ascendant Group rocketed more than 20 per cent in Bermuda Stock Exchange trading today. Ascendant, owner of electricity provider Belco, which announced last week that annual profits doubled to more than $14 million last year, rose 8...

Technology company Fireminds has launched a new data centre. The centre aims to continue the firm’s growth in delivering cloud solutions, managed hosting and collocation. Fireminds CEO Michael Branco said: “Data residency continues to be a top priori...

Alex Baker has been appointed chief actuary and chief risk officer with Hamilton Underwriting, the managing agency of Lloyd’s Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group. Mr Baker was previously chief actuary of Chubb Managi...

The parent company of Bermuda Commercial Bank has made an investment in a British law firm that specialises in alternative assets such as hedge funds. Somers Ltd, a financial services holding company based in Bermuda, said today through a statement f...

NEW YORK (Bloomberg) — Ruben Rodriguez, the retired Bacardi Ltd chief executive officer who led the rum maker in its 2004 purchase of Grey Goose superpremium vodka, has died. He was 79. He died May 5 in Darien, Connecticut. In 2000, Rodriguez was nam...

The search has begun to find the best employers on the island. The Bottom Line magazine is seeking to recognise the very best of them in the eighth annual Bermuda Top Ten Employers Awards. The people-based survey endeavours to find which of the islan...