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SAC Capital Advisors LP — the now defunct hedge fund that set up a Bermuda reinsurer in 2012 — agreed to pay $10 million to end a lawsuit by Wyeth LLC shareholders who claimed they lost money because SAC engaged in insider trading. A pension fund for...

Squeezed investment returns in the ultra-low interest-rate environment will be one of the major operating challenges facing property and casualty (P&C) insurers in the year ahead, according to credit rating agency Fitch. Investment yields in insurers...

Dare2Be might just be Carol Smith’s last hope. She is one of 13 women the charity is helping prepare for the job market. Those involved benefit from months of academic and technical training however the programme needs continual funding. A massive fu...

A total of 18,100 shares worth $40,995 traded on the Bermuda Stock Exchange today. The Bank of Butterfield was unchanged at $1.95 after 16,100 shares changed hands. Untilities group Ascendant was also unchanged at $4.80 after 2,000 shares moved. The ...

Bermuda-based insurance services company Randall & Quilter Investment Holdings (R&Q) has rounded off 2015 with a flurry of deals. On Christmas Eve, the firm announced the novation of liabilities for policy years 2000—2003 from Golden Rule Ltd, a Caym...

The last day of trading before the Christmas holiday was a quiet on the Bermuda Stock Exchange. The only stock to trade was Butterfield Bank, which remained unchanged on $1.95 as 3,000 shares changed hands. The Royal Gazette/BSX Index closed unchange...

Bermuda-based bond insurer Assured Guaranty has struck a deal with Puerto Rico’s indebted electric company and its bondholders that will enable the utility to restructure about $8.2 billion of debt. The Caribbean island, a US territory, faces a mount...

ZURICH (AM Best News Service) — With the acquisition of Chubb Group expected to be completed during the first quarter of 2016, Ace Group has appointed 12 executives to make up the future commercial property/casualty leadership team for the new Chubb ...

A new golf store has teed off in Hamilton. And IslandKaddy aims to inject a touch of style to the sport, with a range of stylish men’s and women’s golf clothing and accessories. Owned by keen golfers Ian and Anne Marie Forbes, the store features top ...

The financial services industry in Bermuda had foreign portfolio holdings of more than half-a-trillion dollars last year. At $516 billion, that was up 16 per cent on 2013. While the Island does not feature in the world’s top ten places with the large...