77111 results returned for search: "" category "Business"
Reinsurance firm Maiden Holdings has posted profits of $20.5 million for the second quarter of the year.
Equivalent to 27 cents per share, the figure is down $5.3 million from the $25.8 million reported for the same period last year (34 cents per sha...
DATE: Aug 06, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
WASHINGTON (Bloomberg) — The US Securities and Exchange Commission has approved a rule requiring companies to reveal the pay gap between the chief executive officer and their typical worker, handing a new weapon to groups protesting rising income ine...
DATE: Aug 06, 2015
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CATEGORY:
Other
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Reinsurance firm Third Point Re saw its profits almost halved in the second quarter of the year compared to the previous year.
The company posted profits of $15.7 million for the three months to the end of June — in the same period of 2014, profits a...
DATE: Aug 06, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
Insurance brokerage and risk management firm Integro, which has an office in Bermuda, is to be bought by US private-equity firm Odyssey Investment Partners for an undisclosed sum.
The acquisition is expected to be completed in the fourth quarter of t...
DATE: Aug 06, 2015
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CATEGORY:
Other
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AUTHOR:
Scott Neil
Around 40 people will lose their jobs as the result of Endurance Specialty Holdings’ takeover of Montpelier Reinsurance, according to one source who claimed to have knowledge of the matter.
The source, who said she was a relative of one of those to l...
DATE: Aug 06, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Financial services company LOM is to buy back up to 200,000 of its own shares for cancellation.
LOM Financial Ltd’s board has authorised the buy-back scheme, which represents around 3.3 per cent of the overall listed securities of the company.
The fi...
DATE: Aug 06, 2015
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CATEGORY:
Local Business
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AUTHOR:
Raymond Hainey, Assistant News Editor
Bermuda’s international insurance sector pumped more that $900 million into the Island’s economy last year.
The $901.5 million figure was up $14.8 million on 2013.
The figures came in the annual economic survey by the Association of Bermuda Insurers ...
DATE: Aug 06, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
A total of 15,400 shares worth $38,880 traded on The Royal Gazette/BSX Index.
Bank of Butterfield saw 15,000 shares change hands, leaving its price unchanged at $1.80.
While five of the bank’s preference shares also traded, with the price down $2.49 ...
DATE: Aug 06, 2015
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CATEGORY:
Bermuda Stock Exchange
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Former minister Quinton Edness has implored the Bermuda Government to impose cuts rather than draw on its $200 million loan agreement with Butterfield Bank.
Mr Edness warned last night that incurring further debt on top of the existing $2.185 billio...
DATE: Aug 05, 2015
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CATEGORY:
Economy
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AUTHOR:
Jonathan Bell
Two ratings agencies have downgraded reinsurance firm PartnerRe after Italian investment giant Exor won control of the company.
Standard & Poor (S&P) changed its outlook on PartnerRe from stable to negative after Monday’s $6.9 billion takeover, which...
DATE: Aug 05, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
