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Borrowers are set to pay more interest on their mortgages and loans after the central bank of the US declared an interest-rate rise of a quarter of a percentage point. The increase in the US Federal Reserve’s federal funds rate, which was widely anti...

Bermudian reinsurer Validus Holdings Ltd said yesterday that its top executive had sold 273,000 shares of the company on the open market. Ed Noonan, chairman and chief executive officer of Validus, sold the stock to satisfy outstanding tax-related ob...

Telecoms firm Digicel has been honoured by technology giant Cisco. Digicel was awarded the Cisco enterprise working partner for 2016 for Central America, North America and the Caribbean. Niall Clyne, head of Digicel Business, said: “This award is ver...

Bermudian-based insurer and reinsurer Axis Capital Holdings Ltd will be among the first commercial tenants to move into London’s newest office tower, known as The Scalpel. The company will house its UK operations in 31,000 square feet on the second a...

A new fibre network will boost internet and TV services, telecoms firm One Communications said today. Work has started on the new network, first in Hamilton then spreading across the island, as part of a $20 million investment by the company to impro...

Butterfield Bank has won a bank of the year award for the fourth year in a row. The bank was given the accolade by international banking publication The Banker. Michael Collins, Butterfield’s chief executive officer, said: “Having earned that distinc...

Insurance group Argus yesterday announced an $8.2 million profit for the six months to the end of September. The figure is up $5.2 million on the $3 million recorded for the same period last year. Alison Hill, CEO of Argus, said: “Our culture is to d...

Maths wizard David Roache has gone to the top of the charts — in music as well as his profession. Mr Roache, 35, has been a successful reggae performer and now he has been promoted to head of risk excess at Hiscox Re. The Bermudian graduate in commer...

Insurance firm XL Catlin has made a series of senior appointments. Jonathan Gale, chief executive, London reinsurance, will become chief executive of Bermuda reinsurance. And Rob Littlemore, underwriting director for London reinsurance, will fill Mr ...

Car dealers Auto Solutions has taken on new staff. Danny Benevides has joined the Pembroke company as master technical specialist and George Holman-Perry and Samuel Dale have been taken on as service technicians. Denise Fox has been hired as customer...

Belco has announced that it will be undertaking a survey of customers to take place this month. According to a statement, the survey will be conducted by Total Research Associates and include both telephone and online surveys. The survey is expected ...

The Chinese owner of Ironshore has agreed to sell the Bermudian-based insurer to US giant Liberty Mutual in a $3 billion deal. The US company, which struck the deal with Shanghai-based Fosun International, said it planned to let Ironshore “operate wi...