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A controversial plan to erect a mobile cell tower has been approved by the Development Applications Board. The application by Digicel proposes the installation of a 65ft “cell-site on wheels”, capable of extending to 100ft, at 49 South Road, Devonshi...

RenaissanceRe’s profits rose more than 11 per cent in a first quarter notable for the completion of the reinsurer’s acquisition of Platinum Underwriters. RenRe recorded $167.8 million in net income, up from $151 million in the corresponding quarter o...

Bermuda-based insurer Ironshore has agreed to be acquired by Chinese investment firm Fosun International Ltd. In a statement released late yesterday, Ironshore said it had reached an agreement to sell to Fosun the four-fifths of the company that the ...

XL Group and Catlin Group have completed their merger — and today the integration of the two insurers begins in earnest. The Royal Gazette understands that 30 underwriting, actuarial and claims staff will this morning relocate from the Catlin office ...

Endurance Specialty Holdings improved its first quarter profits by $4 million, to hit $108.4 million compared to the same period a year ago. The net income available to common shareholders was $100.3 million, or $2.23 per common share. The company’s ...

The general manager of Air Care Limited, Robert Platt, is to retire at the end of this month after 19 years with the company. He will be succeeded as general manager by Brendan Stones. “We thank Robert for his dedicated service and wish him well as h...

The Argus Group has jumped in headfirst to sponsor the three-day Jump 2b Fit campaign, organised by the Bermuda Heart Foundation and featuring seven world-famous jumpers. With Argus’s sponsorship, this year’s Jump 2b Fit campaign has expanded beyond ...

Catlin End-to-End has announced the elite swim event that was meant to take place from The Fairmont Hamilton Princess this evening has been postponed until next week. Event organisers said: “Due to uncertain weather predictions and current conditions...

XL Group plc and Bermuda-based Catlin Group have completed their merger, the companies announced today. Catlin delisted from the London Stock Exchange and ceased to be traded as of 8am London time. The $4.1 billion deal to combine the two companies i...

Standard & Poor’s Rating Services has downgraded Butterfield Bank as a direct result of the Bermuda Government’s credit rating downgrade earlier this week. But even as it cut Butterfield’s long-term issuer credit rating to BBB from BBB+, the rating a...

Insurance and reinsurance firm Validus yesterday reported $173.4 million in profits for the first quarter of the year. That is equivalent to $1.98 per share, compared to $162.4 million, or $1.66 per share, for the first three months of 2014. Validus ...