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The 2014 XL Scholarship has been awarded to Quaejah Cox, a senior Honour Roll student at Saltus Grammar School. The XL Scholarship is a four-year full scholarship open to students who are Bermudian or hold Permanent Resident Certificate status and ar...

The Foreign Account Tax Compliance Act (Fatca) comes into effect in Bermuda today, amid continuing confusion and concern for its long ranging impact. But one local financial institution said it is prepared to go further than Fatca requirements and ca...

Shareholders of Bermuda-based Aspen Insurance Holdings Ltd will ultimately decide whether Endurance Specialty Holdings Ltd’s hostile bid to take over their company will succeed — and on Friday both companies mailed out letters to them asking for thei...

Argus Group has beefed up its senior management in a move designed to focus more on client needs. Wanda Richardson has been promoted to a newly created role of executive vice-president, client solutions, while Kellianne Smith has been appointed as h...

The heart of Hamilton was hit by a power outage last night, forcing many bars and restaurants in the city to close early. The fault occurred at a city substation just after 7.30pm, just as scores of restaurant diners were sitting down to an evening m...

An increase in some HSBC Bermuda credit card transaction fees has left some bank customers complaining about the added cost of purchasing goods overseas. One upset customer said: “Starting July 1 2014, HSBC has a new fee for international transaction...

Clarien Bank is offering union members a premium increase of one-eighth of one percent (0.125 percent) interest above published rates on its savings products. The move comes following allegations about three weeks ago by an organisation called the P...

The acquisition of US insurer Western World Insurance Company represents a significant strategic development for Validus Holdings Ltd, as it provides the Bermuda re/insurer with a platform in the world’s largest insurance market. That is the view of ...

Bermuda re/insurer Validus Holdings Ltd has agreed to acquire US insurer Western World Insurance Group, Inc for $690 million in cash. Validus CEO Ed Noonan said last night that the combination with the Franklin, New Jersey-based Western World would r...