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The California Earthquake Authority, through its Bermuda-based special purpose insurer, Ursa Re Ltd, has issued a $250 million cat bond to cover earthquake risk in California. The Series 2015-1 Class B notes will run for three years and become due on...

Bank of Butterfield spend about $350,000 buying back 204,945 of its common shares during August. The company repurchased the shares at an average price of $1.737 per share. Butterfield’s shares yesterday closed up one cent (0.6 per cent) at $1.80.

Overall company strategy and holding on to value are key to taking advantage of the record numbers of mergers and acquisitions in insurance. Arthur Wightman, head of the Bermuda territory and insurance for financial services firm PwC, said a new repo...

A new programme designed to inspire a new generation of entrepreneurs will be unveiled tonight. Gary Schoeniger, US-based co-founder of the Ice House programme, has travelled to Bermuda to launch a series of classes. Mr Schoeniger said that as — trad...

The number of mergers and takeovers in Bermuda jumped by nearly half in the second quarter of this year. The 50 per cent spike in the second quarter compared to the first part of the year represented 127 deals. A report by legal firm Appleby in its O...

David Pugh is to step down as chief financial officer of Argus Group later this month ahead of his retirement in January next year. Mr Pugh, who has worked for the insurer for nearly 33 years, will step down after the Argus annual general meeting on ...

A total of 11,900 shares worth a total of $96,390 today traded on the Bermuda Stock Exchange (BSX). The Bank of Butterfield saw 6,900 shares move, leaving its price down one cent (0.6 per cent) at $1.78. Bank of Butterfield preference shares also dro...

Is the reinsurance pricing cycle close to the bottom? That is one of the most discussed questions at the Monte Carlo Rendez-vous event in Monte Carlo, where scores of reinsurance executives, including many from Bermuda, are meeting this week for thei...

A Bermuda trust company has won a top international award. Meritus Trust was awarded the independent trust company of the year accolade by the Society of Trust and Estate Practitioners (Step) in London. Meritus managing director Michelle Wolfe said w...