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The Bermuda Commercial Bank (BCB) has bought up a London-based finance company. BCB has acquired equity and convertible loan notes from its parent Somers Ltd in the Private and Commercial Finance Group (PCFG). It is the intention of the bank to conve...

Professional services firm KPMG is to hold two special seminars to alert charities to the dangers of money laundering and terrorist financing. KPMG’s David Harper said that the Charities Act required registered charities to ensure “relevant officers”...

New player Hamilton Re will enter the property insurance market, CEO Kathleen Reardon said yesterday. Ms Reardon added that the firm would also join the facultative market — a form of reinsurance in which a contract is negotiated for a specific insur...

Businesses and residents in Bermuda have a commendable level of technological competence, a new report confirms. This expertise, along with the Island’s digital infrastructure, offers opportunities to attract foreign investment and the possibility of...

NEW YORK (Bloomberg) — Jay Fishman, who built New York-based Travelers Cos into one of the world’s biggest insurers, lamented that disparities in tax rates are pushing established rivals and industry newcomers outside the US. Over the past 15 years o...

Bertil Olsson, a Swedish insurance industry veteran, will become the new chief executive officer of the Bermuda-based Oil Group at the start of next year. He will succeed Robert Stauffer, who last October announced his plans to retire from the speci...

A total of 8,329 shares worth $15,261.91 today traded on the Bermuda Stock Exchange (BSX). The Bank of Butterfield saw 8,029 of its shares move, leaving its price unchanged at $1.78. Insurance firm Argus was down 30 cents (5 per cent) to $3.80 after ...

Reflecting what it calls a “notoriously deteriorating soft market”, Qatar Re’s half-year profit fell by about $1.5 million, year-on-year, to $13.4 million. The drop came despite the company boosting its gross written premiums by 42 per cent to $463.6...

The world insurance market against cyber crime will hit $5 billion within three years, experts said yesterday. And they predicted it would reach at least $7.5 billion within five years. The news came in a report from professional services firm PwC at...

The “go shop” provision in the takeover deal of reinsurance firm PartnerRe by Italian investment giant Exor yesterday expired. The deal gave PartnerRe — which had previously agreed a merger deal with Axis Capital — around two months to find another b...