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Veteran insurance chief Richard Brindle is set to head up a new $2 billion insurance venture on the Island. Mr Brindle — former CEO of Bermuda-based Lancashire Holdings — will lead Fidelis Insurance Holdings, according to reports. The new firm is bac...

NEW YORK (Bloomberg) — Maurice “Hank” Greenberg’s Starr International Co and the US filed a second set of post-trial papers in a lawsuit over the terms of the government’s bailout of American International Group Inc, setting the stage for next month’...

XL Group plc is selling $1 billion of debt to help to fund its acquisition of Bermuda-based insurer Catlin Group Ltd. The company yesterday priced two separate offerings of subordinated notes, both of which are due in 2045. The first offering of $500...

Telecoms firm KeyTech has posted a near $20 million loss for the six months to the end of September last year. KeyTech made a profit of $6.4 million in the same period the previous year — but the firm said the sale of phone company BTC had hit the bo...

NEW YORK (Bloomberg) — American International Group won court approval of a $970.5 million settlement with investors who accused the insurer at the onset of the financial crisis of misleading them about risks tied to sub-prime mortgages. The investor...

Island insurance firm BF&M is to be the official America’s Cup healthcare provider. BF&M president and CEO John Wight said: “With the America’s Cup coming to Bermuda we wanted to show our support for the event and our community. This agreement allows...

Ace Ltd is teaming up with BlackRock Financial Management, the world’s largest money manager, to create a new Bermuda-based reinsurance venture. The companies are seeking to raise between $800 million and $1.3 billion for the new business, named ABR ...

HSBC Bermuda is scrutinising its account holders in a bid to crack down on tax evasion and money laundering, The Royal Gazette can reveal. The bank responded to questions from this newspaper after it was revealed its arm in Jersey, a UK Crown Depende...

By Jonathan Kent Standard & Poor’s Rating Services has removed both Axis Capital Holdings Ltd and PartnerRe Ltd from CreditWatch with negative implications after concluding that their proposed merger will create a combined company with a stronger com...

Endurance Specialty Holdings Ltd is still in the market for an acquisition after its attempt to merge with Bermuda rival Aspen Insurance Holdings Ltd last year failed to work out. Endurance chairman and chief executive officer John Charman told The ...

Two young Bermudians have been taken on as graduate trainees by Ace Bermuda, part of the Ace Group. James Chiappa and Richard Voaden will be part of the company’s Bermuda-based insurance operations. The pair follow in the footsteps of previous Bermud...

A subsidiary of Ace Group is offering additional director and officers (D&O) liability coverage for multinational companies that are based outside North America. It has launched the enhanced options through Ace’s Syndicate 2488 at Lloyd’s of London, ...