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NEW YORK (Reuters) — The world’s richest are getting younger and richer with more Russians and Indians cropping up among the 946 people on Forbes magazine’s 2007 billionaires list unveiled yesterday.The number of billionaires is 19 percent higher tha...

SHANGHAI (Reuters) — China Reinsurance, the country’s biggest reinsurer, plans to raise as much as $2.6 billion in a dual Shanghai and Hong Kong IPO in September to bankroll a rapid expansion, two sources close to the deal told Reuters yesterday.The ...

ZURICH (Reuters) — Global warming will cause ever more hefty claims for insurers, the world’s largest reinsurer, Swiss Re, said yesterday, despite the relatively low number of natural disasters in 2006.Natural and man-made catastrophes caused “compar...

CHICAGO, (Reuters) - Two potential rival bidders to Bermuda-based Bacardi for the Swedish company that owns the Absolut Vodka brand have expressed interest in acquiring spirit brands but stopped short of confirming an intention to chase an expected $...

Bear Stearns has been ordered by a US court to pay nearly $160 million to investors in a collapsed hedge fund that was administered and audited in Bermuda. The Manhattan Investment Fund folded seven years ago, leaving investors with losses of more th...

TORONTO (Reuters) — The Toronto Stock Exchange’s main index rose for a third-straight session yesterday, boosted by gains in energy and financial issues.The Toronto Stock Exchange S&P/TSX composite index closed up 61.36 points, or 0.5 percent, at 13,...

LONDON (Bloomberg) — Brit Insurance Holdings Plc, a Lloyd’s of London insurer, rebounded to a profit in the second half of last year on lower weather-related claims.Net income was $59.3 million ($114 million), or 18.18 pence a share, from a loss of $...

Tyco was rocked by the $600-million theft case brought against its former chairman and chief executive Dennis Kozlowski and former chief financial officer Mark Swartz that eventually led to their jailing in the US after a 2005 re-trial. Learning from...

Bermuda-based First Atlantic Commerce Ltd. (FAC), which specialises in e-commerce payment solutions, is to expand into Mauritius to offer its clients greater global reach. The company has announced the launch of its “Pan Asian solution” which FAC say...

Butterfield Bank has now opened its first fund service office in North America with a dozen employees. By the end of this year the new office in downtown Halifax is expected to employ 40 people for Butterfield Fund Services and may eventually may hav...