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The Royal Gazette/BSX closed up 5.41 points, or 0.44 per cent, at 1,246.19. Shares of Somers Ltd rose $1.25 (9.6 per cent) to $14.25, after 100 shares were exchanged. A total of 9,258 shares in the Bank of Butterfield traded, leaving its price unchan...

A director of the Bermuda Monetary Authority (BMA) has quit his post. E Barclay Simmons stepped down after nearly nine years on the board of the Island’s financial regulator. Mr Simmons, who is also the manager of ASW Law, resigned from the board due...

The Bermuda Government has recognised the need for airports and airlines to minimise the overall travel costs faced by passengers. It was responding to remarks from an airline boss who warned about the impact high airport charges and taxes can have o...

Bermuda global law firm Appleby shut its London office because of a “rationalisation of resources” ahead of a management buyout of its fiduciary business. Appleby said it had examined the need for a London presence for some time due to the closeness ...

Insured losses from the costliest wildfires in the US since 2007 are forecast to exceed $1.1 billion. More than 2,000 homes were destroyed by the most destructive fires to the northwest of San Francisco and southwest of state capital Sacramento. Four...

NEW YORK (Bloomberg) — Carl Icahn, the billionaire investor known for picking fights with corporate boards, disclosed a stake in American International Group and said it should split into three companies, one offering property-casualty coverage, anot...

A Bermuda business offering low-cost shipping to the Island has taken to the skies. Island Bargains of Bermuda has added an air freight service to its existing service by ship. The firm, based in Queen Street, Hamilton, can now offer a air service fl...

JLT Specialty USA has appointed Andrew Hersh as senior vice-president. Mr Hersh previously worked at The Newman Team at Aon as a senior vice-president with account executive responsibilities. In this capacity, he served as the outsourced risk manager...

There has been a reshuffle at Endurance Specialty Holdings following the departure of Peter Mills, Global Reinsurance chief operating officer. Mr Mills was a Bermuda-based strategic underwriting officer with Tokio Millennium Re before joining Enduran...

Willis Group Holdings made a profit of $117 million during the third quarter, helped by rising commissions and fees. The Willis Capital, Wholesale and Reinsurance segment of the business, which includes Willis Re Bermuda, achieved an 8.8 per cent jum...