77111 results returned for search: "" category "Business"
PartnerRe has agreed to be bought out by Italian investment firm Exor in a $6.9 billion deal.
The reinsurer has scrapped its previous plan to merge with fellow Bermuda firm Axis Capital.
Exor, which is controlled by the wealthy Agnelli family, will p...
DATE: Aug 03, 2015
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CATEGORY:
Reinsurance
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The gap between Bermuda Government’s revenue and expenditure narrowed during the first three months of the year compared with the same period a year ago.
Government reported revenue of $244.6 million between January and March, up 3.7 per cent, while ...
DATE: Aug 03, 2015
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CATEGORY:
Other
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AUTHOR:
Scott Neil
The Royal Gazette/BSX closed down 3.8 points (0.3 per cent) at 1,243.64.
The Bank of Butterfield saw its price end the day one cent down (0.6 per cent) at $1.75 after 2,935 shares traded.
Utilities firm KeyTech, which last week posted losses of $1.9 ...
DATE: Aug 03, 2015
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CATEGORY:
Bermuda Stock Exchange
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Former HSBC chief financial officer Michael Schrum has jumped ship to Butterfield Bank.
Mr Schrum will become group chief financial officer at Butterfield at the end of next month.
Butterfield chairman and CEO Brendan McDonagh said: “I am pleased to ...
DATE: Aug 03, 2015
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CATEGORY:
Other
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AUTHOR:
Raymond Hainey, Assistant News Editor
Endurance Specialty Holdings has completed its acquisition of fellow Bermuda-based reinsurer Montpelier Re Holdings.
The $1.83 billion cash-and-shares deal was announced in March when the boards of directors of both companies unanimously approved the...
DATE: Aug 02, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Scott Neil
Dear Dave,
My husband and I are both 50, and we make about $50,000 a year. We have a little bit of debt, and recently my mother-in-law moved in with us due to health issues. We’ve always gotten by, but now we’re struggling with the additional expense...
DATE: Aug 01, 2015
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CATEGORY:
Personal Finance
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Insurance and reinsurance firm Lancashire has rejected the idea of a merger with another firm as a way to boost business.
Company CEO Alex Maloney said: “I don’t really buy the bigger is better thing.
“I see no evidence of any of the companies that h...
DATE: Jul 31, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
Axis yesterday reported profits of $94 million for the second quarter of the year.
Chief executive officer Albert Benchimol said book value, adjusted for dividends, grew 7 per cent over the last year.
Mr Benchimol added: “Notwithstanding a more chall...
DATE: Jul 29, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
Validus Holdings Ltd took a $48 million hit from claims related to an oil rig explosion that left four people dead, the Bermuda reinsurer revealed last night.
The platform, which was owned by Mexican state-run oil company Pemex, burst into flames in ...
DATE: Jul 29, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Stormy weather helped push down second-quarter profits for reinsurance firm RenaissanceRe, the firm reported yesterday.
Profits for the period fell $55.6 million year on year from $120.8 million to $73.2 million.
Operating income for the firm totalle...
DATE: Jul 29, 2015
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CATEGORY:
Other
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AUTHOR:
Raymond Hainey, Assistant News Editor
