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Novae has decided to close its US direct and facultative re/insurance operations in Bermuda. The news came as Bermudian insurance and reinsurance group Axis Capital increased its offer to buy Novae. Novae, a London-based carrier, confirmed the unit’...

Traffic controls are set to be in place on Rural Hill this weekend as Belco conducts work in the area in the wake of a recent outage. According to a company spokeswoman, work is set to begin at 6.30pm tomorrow in the eastbound lane between Stowe Hill...

More than 40 per cent of households in Bermuda now have access to higher speed internet connections through One Communications’ FibreWire Internet. The company expects to have substantial completion of its new islandwide network by the end of October...

Thousands of homes in the West End were left without power this evening after a cable fault at the Belmont substation. A Belco spokeswoman confirmed that the outage occurred at 9.25pm when the firm noticed a fault in the 22kV transmission cables that...

Butterfield Bank is confident it will return its operating expenses to its target level by the end of the year. And while it has twice raised its lending rates this year, in line with moves by the US Federal Reserve, it has no declared intention on w...

Vivien Carter has been appointed as the new programme officer for the Bank of Bermuda Foundation. She will have responsibility for grantee liaison, organisational learning and community outreach. Ms Carter, a mother of two, has more than 15 years ...

Belco has accused the new electricity-sector regulator of getting it wrong on the utility’s track record on investment in infrastructure. And the power provider went on to say the Regulatory Authority was hampering Belco’s ability to provide a safe a...

The Regulatory Authority has finalised the new licensing framework for the electricity sector. In a statement, the regulator noted that third parties had expressed interest in offering alternatives to Belco as sources of power generation. And the RA ...

One Communications Ltd made a $2.1 million profit between May 2016 and the end of last year. The figure was released in an earnings report that covers the telecoms company from the moment it completed its deal with US-based ATN International on May 3...

Digicel will complete the roll-out of its new “Fibre-to-the-Home” network this year, the telecommunications company said today. The service, which will take the fibre-optic network all the way to the home — differentiating it from rivals, Digicel say...

Somers Ltd reported a $6 million profit for the quarter ended June 30. The financial-services investment holding company, which owns Bermuda Commercial Bank and holdings in the UK and Australia, said it had benefited from currency fluctuations during...

Two students with exceptional academic accomplishments and notable out-of-classroom pursuits, have been chosen for a scholarship and an educational award by the Chubb Charitable Foundation — Bermuda. Leah Smith and Chiyaro Wedderburn are both heading...