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RenaissanceRe has announced the formation of Upsilon Reinsurance II Ltd, a new Bermuda-domiciled special purpose insurance vehicle that will create additional reinsurance capacity for the global retrocessional reinsurance market. Upsilon Re II is ca...

A new year, a new e-mail scam targeting customers from one of Bermuda’s local banks. The Bermuda Police Service Financial Crime Unit has issued an advisory regarding the fake e-mail, which tries to dupe HSBC customers into giving out their account pa...

PartnerRe has successfully completed the acquisition of California-based Presidio Reinsurance Group. PartnerRe will pay $72 million for reinsurance carrier Presidio’s managing general agency and tangible book value. The US specialty accident and hea...

Bermuda’s own Gosling’s Rum has been named the rum of the year by Caribbean Journal. The online publication’s Rum Journal is said to have travelled across the Caribbean region, including Barbados, Martinique, the Dominican Republic and Guyana samplin...

Bermuda’s national drink, the Dark and Stormy, appears to have been poached to the Cayman Islands by the Cooking Channel. According to popular wisdom, the mudslide is the actual native cocktail of Bermuda’s sister territory in the Caribbean — but the...

RenaissanceRe yesterday announced that its preliminary estimated impact from Superstorm Sandy is approximately $130 million. The negative impact to the Bermuda-based reinsurer’s fourth quarter includes the sum of estimates of net claims and claim ex...

Rating agencies have reacted to the announcement that Markel has agreed to buy Alterra for $3.13bn, noting the scale the merged insurance and reinsurance firm would have. AM Best and Fitch have both affirmed Alterra and Markel’s ratings following ann...