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A new critical illness cover worth $20,000 has been introduced by insurance firm BF&M. The new benefit — a first for the Island — means health policy holders hit by major illnesses like heart attacks, cancer and kidney failure will be eligible for a ...

NEW YORK (Bloomberg) — The Federal Reserve Board of Governors set an interest rate for American International Group’s 2008 bailout loan that was meant to prevent shareholders from reaping a “windfall”, the Fed’s top lawyer testified. With bankruptcy ...

Bermuda healthcare system — already among the world’s most expensive — is “unsustainable” on its current trajectory of rising costs, according to the boss of a leading health insurer. BF&M Ltd CEO John Wight said the demographics of an ageing populat...

Bermuda Press (Holdings) Ltd has suspended the dividend paid to holders of its common shares for the third quarter, the company has announced. BPH which owns The Royal Gazette, as well as a range of commercial printing, retail and real estate interes...

David Kalainoff, president and chief underwriting officer — casualty of Markel Re is to retire at the start of June next year. He will be replaced bt Jed Rhoads, who is at present the president and chief underwriting officer — property at Markel Re, ...

NEW YORK (Bloomberg) — The US extorted American International Group shareholders when it extended a $182 billion taxpayer bailout at the height of the 2008 financial crisis, a lawyer for Maurice (Hank) Greenberg said. Greenberg’s Starr International ...

The Bank of N.T. Butterfield & Son Limited unveiled the island’s first multi-currency ATM in the refurbished international departure lounge at L. F. Wade International Airport. A press release announcing the installation of the ATM, which is located ...

Profits at the Ascendant group dropped by more than a third in the first six months of this year, the firm has revealed. The firm, which counts power firm Belco and Bermuda Gas among its operations, logged net earnings of $1.2 million to the end of J...

Clarien Bank Ltd has appointed a former top executive at Merrill Lynch to take the role of consultant chief investment officer. Thomas Sowanick will be the bank’s lead investment adviser, responsible for advising and supporting senior management wit...

Telecoms firm Digicel could be shaping up for a showdown with cable TV firm CableVision. The firm best known for phones in Bermuda has been muscling in on the TV market overseas — and announced yesterday that it had bought a controlling interest in t...