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Bermuda-based bond insurer Assured Guaranty has struck a deal with Puerto Rico’s indebted electric company and its bondholders that will enable the utility to restructure about $8.2 billion of debt. The Caribbean island, a US territory, faces a mount...

ZURICH (AM Best News Service) — With the acquisition of Chubb Group expected to be completed during the first quarter of 2016, Ace Group has appointed 12 executives to make up the future commercial property/casualty leadership team for the new Chubb ...

A new golf store has teed off in Hamilton. And IslandKaddy aims to inject a touch of style to the sport, with a range of stylish men’s and women’s golf clothing and accessories. Owned by keen golfers Ian and Anne Marie Forbes, the store features top ...

The financial services industry in Bermuda had foreign portfolio holdings of more than half-a-trillion dollars last year. At $516 billion, that was up 16 per cent on 2013. While the Island does not feature in the world’s top ten places with the large...

Bermuda Commercial Bank (BCB) yesterday posted $8 million in net income in the year ended September 30. The figure, stated in the financial results of BCB’s parent company Somers Ltd, is down $1.2 million, or 13 per cent, on the previous year. Somers...

Veteran hotelier John Jefferis is to open a new art gallery and restaurant in Paget. Art lover Mr Jefferis has amassed a collection of 386 works, with display space in the new building able to show nearly 70 at a time. Mr Jefferis said: “I’d always h...

Joerg Rudolf loves watching people bite into his cookies. “Sometimes they hesitate,” said the pastry chef. “Then they get this look of joy and greed. I live for that look.” He’s seeing a lot of that joy at the pop-up stall he opened in the Washingto...

Restaurant Rustico is set to open in new premises next year. The long-established Italian favourite is expected to open up its doors at a new location at Brightside guest apartments in Flatts by the end of January. Odilio Angeli, owner of Dining Berm...

The Royal Gazette/BSX Index closed unchanged at 1,310.21. The Bank of Butterfield was unchanged at $1.95 after 900 shares traded. The BSX Insurance Index ended the day 9.16 points (0.55 per cent) up at 1,662.89.

Christmas. Now that it is the week of Christmas it is time to celebrate what is really important to you and what you work for all year long — your family, friends and your community! This year we are fortunate to have a very long weekend so take adv...