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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...

Bermuda Commercial Bank Ltd announced today that its profits rose by more than 50 percent during the six-month period through March 31 this year. The bank posted net income of $7.9 million, compared to $5.1 million in the same period a year earlier. ...

The global insurance industry could see a ‘big wave’ of consolidation over the next few years, XL chief executive officer Mike McGavick told delegates at the Airmic conference in Birmingham last week. Mr McGavick, speaking during the Airmic forum deb...

It was the “clash of the titans” yesterday, as two powerful corporate boards squared off in another round of a public battle for control of Bermuda-based Aspen Insurance Holdings Limited. The battle royal began anew as Aspen sent new filings to the S...

Domestic insurer BF & M has reported a sizeable increase in first quarter earnings and raised its dividend to shareholders. But the company downplayed the earnings jump as derived from one-off revenues, as they outlined how income was increasingly re...

Clarien Bank Limited has named former US Consul General to Bermuda, Gregory Slayton, to its board as an independent director. The bank said in a statement that his appointment is consistent with Clarien’s strategy for achieving international growth a...

A liquid balance sheet and high capital levels has garnered the Bermuda Commercial Bank affirmation of its Long- and Short-term Issuer Default Ratings (IDRs) of ‘BBB-/F3’ and a stable rating outlook from Fitch Ratings. It came with some concerns and ...

A proposal to drag Belco power generation into the 21st century could eventually cost half a billion dollars, the company said in an interview yesterday. It would include, in one of the first stages, an ambitious multiyear plan to begin mounting sola...

Work has started on restoring the abandoned Admiralty House ballroom in Pembroke. The Department of Parks and Digicel have teamed up on the project. The clearing of overgrown vegetation and garbage by Parks workers and Digicel staff is underway. “Adm...

A decision on a proposed Digicel telecommunications tower on South Road has been deferred until a public hearing can be held. The application proposes the erection of a movable cell site on wheels at 49 South Road, Devonshire, which would include a 6...

The Ascendant Group will soon unveil a multiyear energy plan which they say will revolutionise the Island’s power supply and begin transitioning Bermuda toward cleaner, more efficient and lower cost energy production. Ascendant, the owner of electric...