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The Attorney-General’s Chambers is to represent former airport ground services firm BAS Serco in a dispute over redundancy payments to staff, The Royal Gazette can reveal. And, if a legal bid by former staff to win redundancy payments from BAS Serco ...

Ratings agency Fitch has downgraded Bermuda Commercial Bank. Fitch said the move reflected an increase in BCB’s risk profile and weakened capital position in the wake of a shift in the business mix. The bank’s long-term issuer default ratings has gon...

BF&M and Argus Insurance have announced their support for the development of Bermuda Cancer and Health Centre’s Radiation Therapy Facility. BF&M president and CEO John Wight said in a statement: “BF&M is thrilled to support this initiative. “Local ra...

MILAN (Bloomberg) — PartnerRe exited junk bonds and shifted funds into property as the Bermudian reinsurer reshaped a $16.3 billion investment portfolio after being acquired by Italian investment firm Exor SpA. Exor’s approach is to focus on holdings...

Belco will be conducting a series of small group discussions with its customers in an effort to “improve customer experience”. Total Research Associates, which will carry out the research in June, is creating discussion groups representative of Belco...

More than 1,000 homes lost power after a switch tripped in its circuit yesterday. Belco says 1,177 of its customers were affected in the Harrington Sound, John Smith’s Bay, and Knapton Hill areas shortly before 8pm. Power was restored shortly before ...

Electricity prices are to rise after regulators gave power utility Belco permission to increase its rates for the first time in three years. The new rates, which will take effect next month, will result in residential customers paying 8.7 per cent mo...

More than 150 XL Catlin employees have worked on 14 projects across the island as part of the company’s Global Day of Giving project. Their efforts included: • Casemates Barracks: continuing pre-restoration work on the upper floor of the historic Roy...

Lessons learnt from the experience of Hurricane Sandy barrelling into New York and New Jersey in 2012 will be the focus of a RenaissanceRe-hosted forum at the New York Stock Exchange next week. Manhattan’s recovery from Sandy, the second-costliest US...

Utilities firm Ascendant has announced three new appointments. Leah Dean, senior vice-president of group human resources at Renaissance Re, will become a director, replacing Richard Spurling, who has retired from the board after 24 years. Peter Durha...

Hiscox marked its first ten years in Bermuda with a celebration event held at Masterworks in the Botanical Gardens. A number of the global specialist insurer’s senior executives, including Bronek Masojada, group CEO, Robert Childs, chairman, and Jer...

Hiscox has integrated so deeply with the community during its first ten years in Bermuda that it is hard to imagine a time when it was not part of the island’s fabric. The global specialist insurer has proved to be a force for good in many avenues, o...