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A leading rating agency has predicted that 2022 will bring the fifth consecutive year of premium rate increases for property catastrophe cover in 2022, and predicted that they will be double-digit rate increases. Fitch Ratings also said that it expec...

A deal for the sale of Bermuda-based PartnerRe could be back on, with word that EXOR, the company that acquired the reinsurer in 2016, has restarted talks with the French insurer Covéa. The transaction last year would have had Covéa pay $9 billion in...

With the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow starting next week, climate change is in the forefront, and a coherent strategy on sustainability is fast becoming a necessity, rather than a choice, for financial service p...

The company that owns Bermuda’s electricity supplier has just purchased an electricity supplier in Kentucky. Algonquin Power & Utilities Corp said that its indirect subsidiary Liberty Utilities Co has an agreement with American Electric Power to acq...

Bermuda-registered Nabors Industries Ltd has reported a third-quarter net loss of $115.7 million, an improvement over the comparative three months of 2020 when it lost nearly $147 million. But it means that Nabors has lost more than $434 million in t...

The RG/BSX Index closed unchanged at 2,705.02 in light trading on the Bermuda Stock Exchange. The only movement was BF&M, with 10,000 shares sold at an unchanged price of $23. The Bank of Butterfield closed 25 cents (0.63 per cent) lower on the New Y...

Bermuda reinsurer RenaissanceRe Holdings Ltd has estimated that losses from certain 2021 catastrophe events will have a net negative impact of approximately $725 million on the company’s third-quarter 2021 results of operations. This estimate is prim...

An established auto repair shop in Southampton is shifting into high gear by adding the ordering of custom electric vehicles to its services. Rev Automotive Ltd owner Bill Calko, who opened the business in 2007, said that the first electric 2021 Volk...

The extreme-event modelling company AIR Worldwide (AIR) has released its 2021 Global Modeled Catastrophe Losses report, detailing key global financial loss metrics based on its latest suite of models that reflect the near-present climate risk. AIR e...

An insurance boss has complained that even though rates have hardened, they remain too low. Richard Brindle highlighted the rising catastrophe risks in an era of increasingly evolving climate-change exposures and said that there are inadequate rates ...