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NEW YORK (BestWire) — American International Group said the US Federal Aviation Administration has approved its request to operate small unmanned aerial vehicles — also known as drones — to conduct inspections for risk assessment, risk management, lo...

A Bermuda bank is to beef up its security — and axe its current online safety system which uses a key-shaped tag to generate a security code. But the bank said the decision to start an automated phone “call-to-verify” scheme for transactions that rai...

The Gibbons family has bought back control of Clarien Bank Ltd, just 15 months after it sold a controlling interest in the institution. The news was announced in an earnings announcement published yesterday. The statement did not specify why Edmund G...

An insurance group has pledged to support a charity that provides literacy and numeracy training to people with learning disabilities. The Argus Group is donating to the Reading Clinic’s Core Reading Programme, which is designed for students with re...

Bermuda-domiciled bond insurer Assured Guaranty Ltd said today it had completed the acquisition of Radian Asset Assurance Inc for more than $800 million. The planned merger of the two firms, whose primary business is insuring municipal bonds, was fir...

Native and endemic species are being planted in Warwick near Southlands by Belco, the power generating company is advising the public. Landscape gardening company Brown & Company Ltd is doing the work in the vicinity of Southlands in Warwick. The nat...

Ace Ltd and BlackRock yesterday said they have launched their new Bermuda-based joint reinsurance venture ABR Reinsurance Ltd. The two firms announced late yesterday that they had raised about $800 million through a private placement to get the new v...

Insurance and reinsurance giant XL yesterday launched a new venture capital firm aimed at investing in financial technology. XL Innovate, which will be based in California, will be headed by Tom Hutton, the founder and CEO of New Energy Risk Inc, a d...

Endurance Specialty Holdings Ltd has agreed to acquire fellow Bermuda-based reinsurer Montpelier Re Holdings Ltd in a $1.83 billion deal. The new combined company will be run by Endurance’s senior management team from its headquarters in Waterloo Hou...

Belco wishes to advise motorists that crews will be doing emergency work to repair an underground cable on Middle Road in Warwick, near the entrance to Belmont. Work will commence after 9.30am on Monday and is expected to take most of the day. Traffi...

The America’s Cup will generate significant extra business for its official healthcare provider BF&M — and the insurer’s boss says the Island needs to grasp this unique opportunity to ensure the whole community benefits from it for years after the sa...