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Reinsurance

Endurance beefs up agriculture team

Bermuda-based Endurance Specialty Holdings Ltd took another step forward in its global expansion by hiring two executives to underwrite and manage international agriculture reinsurance programmes. The speciality provider of property and casualty insu...
Jul 10, 2014
Reinsurance

Endurance hires Maritzen to build new US property team

Endurance Specialty Holdings Ltd has hired Mark Maritzen to build and lead a new property team within the company’s US insurance operation. Bermuda-based Endurance said yesterday that Mr Maritzen would work in its New York city office and that his te...
Jul 10, 2014
Reinsurance

Ace named on US Congress corporate inversion list — but why?

Newly published research by the US Congress claims that 76 companies have shifted their corporate domiciles away from the US since 1983 — one of them being Ace Ltd. Such domicile shifts are referred to as “inversions” and have been causing concern am...
Jul 09, 2014
Reinsurance

Kinesis completes capital raise

Bermuda-domiciled re/insurer Lancashire Holdings Ltd says its Kinesis Capital Management Ltd subsidiary has completed its mid-year capital raise. Investors were invited to subscribe for securities in Kinesis Holdings I Ltd to enable its subsidiary, K...
Jul 09, 2014
Other

Bacardi pledge to hospital campaign

Bermuda-headquartered Bacardi Limited, the largest privately held spirits company in the world, has pledged a half a million dollars over the next five years to the Bermuda Hospital Charitable Trust “Why it Matters” campaign. During a donation ceremo...
Jul 09, 2014
Local Business

Bermuda Press Holdings sees advertising revenue fall

Bermuda Press (Holdings) Ltd recorded a loss of $112,000 in the first half of its 2014 fiscal year, as advertising revenue fell. The company, which owns The Royal Gazette, as well as commercial printing, retail and real estate interests, saw revenue...
Jul 09, 2014
Reinsurance

Expanding Arch announces slew of promotions

Arch Capital Group Ltd yesterday announced a slew of promotions in its reinsurance group to support the recent expansion of the company’s mortgage insurance and reinsurance operations. Marc Grandisson recently became chairman and CEO of Arch Worldwid...
Jul 08, 2014
Reinsurance

Ace to acquire Brazilian insurer in $685m deal

Ace is set to become the number one commercial property and casualty (P&C) insurer in Latin America’s largest market after acquiring a Brazilian company. Ace Ltd announced that it has reached a definitive agreement to acquire the large corporate P&C...
Jul 08, 2014
International Business

Butterfield to buy part of HSBC’s Cayman business

Butterfield Bank has agreed to buy parts of HSBC’s corporate and retail banking operations in the Cayman Islands. Butterfield Bank (Cayman) Ltd, a wholly owned subsidiary of The Bank of NT Butterfield & Son Ltd, and HSBC Holdings plc made the announc...
Jul 08, 2014
Local Business

Clarien recruits former FBI agent

A former FBI Special Agent previously assigned to the US Joint Terrorism Task Force has been appointed chief compliance officer of Clarien Bank Ltd. Top gun Henry Komansky has more recently served as head of analysis at the Bermuda Financial Intellig...
Jul 08, 2014
Other

US activists speak out on smart meterconcerns

A Maryland state pressure group opposed to the installation of smart meter technology has urged Bermudians to lobby the authorities to stop it from happening here. Bermuda’s electricity supplier BELCO has proposed installing smart meters in every hom...
Jul 05, 2014
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