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Hiscox wrote less reinsurance business in the first half of this year as rates softened — and chairman Robert Childs said the company will walk away from more business if it considers pricing to be inadequate. The global insurer and reinsurer, whose ...

XL Group plc yesterday announced a second-quarter net loss attributable to ordinary shareholders of $279.3 million compared to net income of $272.7 million in the prior year quarter, primarily due to a $621.3 million after-tax loss on the sale of the...

The KeyTech Group of Companies (KeyTech) is to sell 100 percent of its interest in The Bermuda Telephone Company Ltd (BTC), which employs about 130 people, to Barrie OpCo Ltd — a company which was incorporated just last Thursday. A KeyTech press rel...

Aspen Insurance Holdings Ltd says its shareholders have rejected Endurance Specialty Holdings Ltd’s proposals to move forward with its hostile takeover attempt. Last Friday was the target date set by Endurance for receiving consents from Aspen shareh...

Bermuda Commercial Bank has awarded a GOLD level scholarship to Dominic Tessitore, a 2014 graduate of the Berkeley Institute He was presented his scholarship on Tuesday, July 22nd by Sponsorship Committee members Angelique Dowling and Stephen Outerbr...

Bermuda re/insurer Validus Holdings Ltd last night reported second-quarter profit of $153.4 million. The company’s net income surged fivefold from the second quarter of 2013 when significant catastrophe claims related to European floods impacted resu...

A ‘golden handshake’ amounting to a value of more than $10 million to Lancashire Holdings founder and retiring chief executive officer Richard Brindle impacted the reinsurer’s second quarter results announced yesterday. The report stated: “Lancashir...

NEW YORK (Bloomberg) — Ace Ltd chief executive officer Evan Greenberg said the insurer’s formula for integrating companies gives him confidence that he can handle risks in emerging markets, even as he faulted Brazilian leaders for “lousy” economic po...

Bank of Butterfield have given two Bermudian students scholarships worth a potential $200,000. Victoria Clarke has been awarded the Sir Harry D Butterfield Undergraduate Scholarship. A recent Bermuda High School for Girls graduate, Ms Clarke will ...

A Black Friday sale in the middle of summer beginning at the cool predawn hour of 5am is the refreshing concept that Gibbons Company Ltd launched last week. Dubbed the ‘white hot sale’, it then ran through the weekend. Chief executive officer Paul ...

Butterfield Bank today announced that its Sir Harry D Butterfield Undergraduate and Sir A Dudley Spurling Postgraduate Scholarships have been awarded to Victoria Clarke and Marlena Tucker, respectively. Victoria is a recent graduate of the Internati...