49296 results returned for search: "" category ("Other" AND "Business")
Arch Capital Group suffered after-tax net losses of $133 million relating to hurricanes Gustav and Ike in the third quarter of 2008 — but the Bermuda insurer and reinsurer still managed to record a profit of $26.4 million.
The storm losses — equivale...
DATE: Oct 24, 2008
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Bermuda reinsurer Montpelier Re Holdings Ltd. announced yesterday that it has received approval from UK regulator the Financial Services Authority and Lloyd's to establish a wholly-owned Lloyd's Managing Agent subsidiary.
Montpelier Underwriting Agen...
DATE: Oct 24, 2008
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Butterfield Bank strengthened again yesterday in trading on the Royal Gazette/Bermuda Stock Exchange.
The bank saw 24,455 shares traded and closed at $12.40, a $0.25 or 2.05 percent rise on the previous day.
The only other stock active on the exchang...
DATE: Oct 24, 2008
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LONDON (Reuters) - Goldman Sachs Group Inc plans to cut ten percent of its total staff, or almost 3,300 jobs, a source familiar with the matter said yesterday.
Goldman Sachs has suffered less than most of its peers from the global financial crisis an...
DATE: Oct 24, 2008
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Moody's Investors Service last night said it may downgrade Bermuda-based business insurer XL Capital Ltd. because of estimated $1.6 billion to $1.7 billion in quarterly losses.
Moody's has a Baa1 senior debt rating on XL Capital and an A1 insurance ...
DATE: Oct 24, 2008
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NEW YORK (AP) — Wall Street spent another session buffeted by volatility yesterday, this time closing mixed after investors wrestled with their fears about the economy but also looked for bargains after two days of selling. While the Dow Jones indust...
DATE: Oct 24, 2008
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Bermuda-based Arch Capital Group has announced that John Hele will be its new chief financial officer.
The company said yesterday former CFO John Vollaro would "transition" to a senior advisor role within the company.
Mr. Hele, 49, will be leaving IN...
DATE: Oct 24, 2008
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WASHINGTON (AP) — Former Federal Reserve chairman Alan Greenspan said yesterday the current financial crisis is a "once-in-a-century credit tsunami" which will have a severe impact on the US economy, driving unemployment higher.
Greenspan, who headed...
DATE: Oct 24, 2008
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Catastrophe reinsurance specialist IPC Holdings Ltd. recorded a net loss of $87.5 million for the third quarter, as storm losses and net investment losses each topped $100 million.
In results for the June-through-September period released last night,...
DATE: Oct 24, 2008
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AUTHOR:
Jonathan Kent
Chamber of Commerce president Phil Barnett has welcomed what could be a freeze on taxes on businesses as hinted at by Finance Minister Paula Cox.
This follows a statement released by Ms Cox earlier this week saying that the Government's "desire to as...
DATE: Oct 24, 2008
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