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Arch Capital last night reported operating profits of $125.8 million for the third quarter of the year, surpassing analysts’ expectations. After-tax earnings per share were $1.01, compared to the 98 cents consensus of analysts tracked by Zacks Invest...

Axis Capital Holdings yesterday reported net income of $248 million for the third quarter — down $31 million on the same quarter last year. The figure represents net income available to shareholders of $2.50 a share, compared to the $279 million and ...

The Bank of Butterfield has agreed to buy the multibillion dollar private banking trust and investment arm of rivals HSBC Bermuda. The move means Butterfield will acquire the Bermuda Trust Company Ltd as well as the trust and investment business of H...

PartnerRe Ltd has reported a third quarter net loss of $243.3 million, or $5.08 per share. Its results were hit hard by the paying of a termination fee and reimbursement of expenses to Axis Capital, in relation to the failed merger deal with the Berm...

XL Group reported a slump in third-quarter net income as a $96 million hit from the Tianjin explosion and integration costs related to its merger with Catlin took their toll. Net income in the first complete quarter for the combined XL Catlin busines...

The Bank of Butterfield last night reported profits of $25.7 million for the third quarter of this year. Net income at the bank was up $2.9 million compared to the $22.8 million recorded in the third quarter of 2014. The news came as Brendan McDonagh...

New-style microchipped cards to provide better security has been introduced across the Butterfield Bank’s credit card range. The cards feature an embedded and encrypted microchip for data storage that is said to be “virtually impossible” to reproduce...

Ascendant Group Ltd, which owns Belco, saw its profits fall 15 per cent, to $970,000, in the first six months of this year. The closure of Bermuda Gas & Utility Company’s residential appliance and service business acted as a major drag on the group’s...

Global insurer Ace Ltd generated record operating income for the third quarter and comfortably beat analysts’ estimates. Net income was down by nearly a third, however, to $528 million in the July through September period, compared to $785 million, a...

It is still early days, but the business buzz created by the Louis Vuitton America’s Cup World Series Bermuda event continues to build. Banks, restaurants, food suppliers and vendors have praised the positive effect the sailing spectacle has had on t...

The head of PartnerRe Global yesterday said that European buyers had welcomed takeover by Italian investment giants Exor. Charles Goldie, CEO of PartnerRe Global, said that the deal gave the company security over its long-term future. He added it had...

The America’s Cup World Series put wind in the sails of Bermuda business over the weekend. And the following wind generated by the event has eased the recession doldrums the Island has suffered for several years. Charles Gosling, managing director an...