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America’s Cup fever boosted sales in clothes and tourist-related stores in October. Sales revenue in clothes stores rocketed by more than a third and around 12 per cent of the total was attributed to the Louis Vuitton America’s Cup World Series event...

Ratings agency AM Best has maintained its negative outlook for the reinsurance sector for next year. It said that ongoing market challenges will hinder the potential for positive ratings action and might even translate into negative ratings pressures...

Three stocks ended the week lower, and one was higher, on The Royal Gazette/BSX Index. Butterfield Bank was down five cents (2.5 per cent) at $1.95 after 36,124 shares were traded, while HSBC Holdings’ shares lost 55 cents (6.79 per cent) to close at...

A lighting specialist has branched out into home decor. ESC Ltd’s new Escape division is proving a hit with customers after just a few weeks in business. “It’s going really well — better than expected,” said Lindsay Butterfield, ESC’s general manager...

The high cost of meeting international standards on insurance regulation is a concern, ratings agency AM Best said today. And a special report on the Island’s bid to achieve Solvency II equivalence in the EU added that there was still a perception th...

A total of 2,300 shares worth $30,323 traded on the Bermuda Stock Exchange (BSX) today. Insurance firm BF&M fell 34 cents (2 per cent) to $16.85 as 1,600 shares traded. And utilities firm Ascendant Group was down five cents (1 per cent) at $4.80 afte...

Dear Dave, I woke up this morning and realised I haven’t started Christmas shopping yet. I’ve been listening to you for a long time, and I don’t want to fall in the trap this year of paying outrageous prices for things just because I have waited unt...

All ten graduates who were this year awarded scholarships by the Bermuda Foundation for Insurance Studies (BFIS) have secured jobs in the industry. BFIS chairman Gail Martin said that all the students were working in Bermuda or overseas. “I am please...

Bermuda-based Ironshore insurance and its affiliated companies are to remain under review with negative implications, ratings agency AM Best said yesterday. The agency said that Ironshore’s financial strength rating of A (excellent) and issuer credit...

Expect more merger activity in a tough insurance industry that is getting tougher, top executives told conference delegates in Hamilton yesterday. A wave of consolidation has swept through Bermuda’s flagship industry this year, highlighted by the Ren...