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Clarien Bank has launched new hi-tech debit cards. In a partnership with MasterCard, the bank has introduced industry standard EMV/chip technology. The new cards also include MasterCard PayPass, a contactless tap-and-pay service and are also claimed ...

Most Caribbean jurisdictions have public sector defined benefit (“DB”) pension schemes that are fully financed by their governments. As with those Caribbean jurisdictions, the sustainability of Bermuda’s public sector pension plan, which operates on ...

A $100 million catastrophe bond to cover Turkey against earthquakes has been set up in Bermuda. Now the Turkish Catastrophe Insurance Pool (TCIP) plans to continue to build its relationship with the market. The Bosphorus Ltd bond provides reinsurance...

Reinsurance firm PartnerRe has topped a list of America’s 50 most trustworthy financial-services companies drawn up by a prestige business magazine. Insurer and reinsurer Axis, which came fifth on the list, also featured in last year’s top 50. The Fo...

A boom in mergers and buyups in the reinsurance industry is set to continue into next year. Ratings agency Standard & Poor’s said that companies would continue to combine to prow business and demands for greater scale from clients. A report by Standa...

Shares of paint firm Devonshire Industries lost nearly half their value on a busy day of trading on the Bermuda Stock Exchange today. Devonshire, which owns Bermuda Paint, fell by $2.99 (49.8 per cent) to a two-year low of $3.01 on the trading of 1,5...

An upward trend in sales receipts for retailers sharpened further in June, and has been hailed as “a positive shift in consumer confidence”. The retail sales index notched up an eleventh consecutive month of improvement, year-on-year, in June. It ros...

As temperatures rise, so do sales of ice cream, but this summer is proving to be an exceptionally busy one for ice cream sellers. On some days the sheer number of tourists outside the Meltdown Ice Cream kiosk seeking a cool treat has resulted in queu...

Bermuda has been named on a list of 39 tax havens by the District of Columbia in the US. The Island is joined on the list by other offshore centres like the Cayman Islands, Jersey, the British Virgin Islands, the Bahamas and the Isle of Man. The chan...

Blue Capital Global Reinsurance Fund Ltd saw the net asset value of its ordinary shares increase by 1.9 per cent in the first half of this year, after accounting for dividends declared. The company had $212.9 million invested in Blue Capital Global ...