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Monitors of HSBC’s anti-money laundering and sanctions evasions found “widespread compliance failings” at the bank’s Bermuda operation, The Wall Street Journal reported yesterday. The newspaper said that “people familiar with the situation” said that...

Lancashire Insurance Company Ltd has entered into a new $300 million credit facility involving a group of banks. The company is a wholly owned subsidiary of Bermudian-based Lancashire Insurance Company Ltd. Lloyds Bank and Barclays Bank are the joint...

The Bank of Butterfield has been named best bank in Bermuda by US-based magazine Global Finance for the second year in a row. Michael Collins, the CEO of Butterfield, said: “It is an honour to once again have been included in Global Finance’s listing...

Warwick Academy year one student Michael Schrah has been declared the winner of the annual Belco Bird Kite Safety Poster competition. Judges selected Michael’s entry as having the ‘Best Kite Safety Message’ overall from more than 130 entries by othe...

The chairman of Italian investment giant Exor today became chairman of the board at PartnerRe. John Elkann’s firm completed a $6.9 billion deal to take over the Bermuda reinsurer after a takeover battle with Axis Capital Holdings. Emmanuel Clarke, pr...

Bermudian insurer Ironshore may sell shares to the public or be sold by its Chinese owners, according to reports in international business media yesterday. Fosun International Ltd, the Shanghai-based conglomerate led by billionaire chairman Guo Guang...

Clarien Bank is to increase its personal base lending rate to 3.75 per cent, up by 0.25 of a percentage point. The rate hike will bring it in line with Butterfield Bank’s rate, while HSBC Bermuda’s rate currently stands at 3.5 per cent. Customers wit...

Zoe Kravitz, the American actress, has revealed she is a fan of Bermuda’s trademark dark ‘n’ stormy cocktails. And millions of viewers watched as the star treated Jimmy Fallon, the chat show host, to the drink on The Tonight Show last Tuesday. Nancy ...

New Bermuda name Chubb has announced its management team on the island. Chubb, the new name for the combined Ace and Chubb insurance companies, will be headed by Joseph Clabby as division president, Bermuda and global accounts. A spokesman for Chubb ...

PartnerRe Ltd’s acquisition by Exor has been completed, the Bermudian reinsurer announced today. Next Thursday the company’s new board will meet for the first time when the directors will nominate a chairman and the company’s new permanent chief exec...

Financial-services holding company Somers Ltd made a profit of $100,000 in the final quarter of 2015, down from $1.2 million in the same period the previous year. The company was impacted by a 2.5 per cent depreciation of sterling against the US doll...

Butterfield Bank has set aside $4.8 million to pay potential fines as a result of a US investigation into tax evasion. And the bank’s financial report for last year said that any fines levied on the bank could be even higher. The report said: “Manage...