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Arch Capital Group Ltd has revealed that its second-quarter profit will take a $38 million hit from reinsurance losses. The news prompted Arch shares to fall more than 2 per cent in early trading on the Nasdaq Stock Exchange and follows filings that ...

HSBC Bermuda yesterday apologised after it e-mailed personal information on customers to other account holders. The e-mails contained names, e-mail addresses, countries of residence, the name of the customers’ relationship manager and HSBC customer i...

The first television adverts for Goslings Rum in the US have proved a hit, according to the firm. A spokesman for Goslings in America said the adverts — which used Oscar-winning talent in the production — had sparked fresh interest in the 200-year-ol...

There has been a 350 per cent increase in the number of contactless payments made on the island by HSBC Bermuda customers with “Tap & Go” equipped MasterCard credit cards. And the bank expects that trend to continue, especially as the America’s Cup e...

One Communications today announced that more than 1,000 of its customers have received a free automatic internet speed boost from the upgrading of the telecoms firm’s network. Work on the FibreWire network is ongoing and expected to be completed isla...

Island-based investment adviser AlphaCat yesterday announced Bernard Van der Stichele as its new portfolio manager. Mr Van der Stichele joins AlphaCat, part of Validus Holdings, from AQR Capital Management. Lixin Zeng, chief executive officer of Alph...

One Communications has been named as the official local telecoms supplier of the 35th America’s Cup. The partnership with the America’s Cup Event Authority was announced today. “Our team at One Communications is honoured to have been selected as part...

LONDON (Bloomberg) — British Airways’ epic meltdown over a busy holiday weekend further fanned public outrage of an industry infamous for its focus on cost cuts over customer service, leaving the UK carrier scrambling to explain how a local computer...

Sompo International has acquired the renewal rights to Novae Syndicates Limited’s financial institutions portfolio, excluding emerging markets. The Bermudian-headquartered speciality insurer and reinsurer reached a renewal rights agreement with Novae...

Island rum Goslings is set to go global with a series of adverts to be shown during coverage of the America’s Cup. The ads — which will run on two NBC channels — showcase Goslings rum, an official partner of the event, and its Stormy ginger beer and ...

British Airways flights out of Gatwick and Heathrow were grounded yesterday as a result of a “major IT failure”. However a spokeswoman for the airlines said that today’s flights between Bermuda and London are expected to operate normally. “We are ext...

Drinks firm Goslings yesterday launched a $10,000 limited-edition rum specially created to mark the America’s Cup. The Auld Trophy rum — made from the company’s oldest barrels dating back nearly 50 years — includes a handmade crystal and silver decan...