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XL Group exceeded analysts’ expectations in posting net income of $221.2 million for the second quarter. The Dublin-based business insurer with substantial operations in Bermuda improved margins in its underwriting businesses as it posted net operati...

Marsh & McLennan Co Inc’s quarterly profit beat analysts’ estimates for the fifth straight quarter, helped by revenue growth in its core insurance business that continued to benefit from improving insurance prices. The insurance broker led by Bermudi...

Alterra Capital Holdings Ltd’s profits were up more than $45 million during the second quarter of this year, thanks to a nominal level of property catastrophe event losses. The company also indicated that it expects to see a net underwriting loss of ...

Property and casualty insurer Catlin swung back to profit for the first six months of 2012, citing a favourable ratings environment. The company generated $231 million in profit before tax for the six months ended June 30 2012 and a record net underw...

Flagstone Reinsurance Holdings, SA beat Wall Street expectations last night reporting a second quarter 2012 book value per share of $11.73 — up 1.2 percent for the quarter. Analysts estimated revenues of $99.1 million but the company came in with a ...

Bermuda Commercial Bank’s credit rating has been downgraded by Moody’s because of increasing risk associated with the bank’s expanding investment portfolio. In downgrading BCB’s long-term deposit rating to Ba2 from Baa3, Moody’s noted the bank’s inve...

The shares of Bermuda-based run-off specialist Enstar Group Ltd soared more than six percent in New York Stock Exchange trading on Friday after the company announced that second-quarter earnings more than quadrupled. Net earnings were $40.7 million, ...

NEW YORK (Bloomberg) — American International Group shares were priced at $30.50 as the US cut its stake in the Treasury Department’s fourth offering of the company’s stock. The US raised $5 billion, with New York-based AIG buying $3 billion of the s...

NEW YORK (Bloomberg) — American International Group, the insurer majority-owned by the US government, posted its third straight profitable quarter as results improved at the Chartis property-casualty and SunAmerica life units. Net income rose 27 perc...

Butterfield Bank’s profits rose nearly 38 percent in the second quarter, thanks to improved performance in the loan book and investment portfolio. The bank posted net income of $16.2 million for the April through June period — its sixth successive pr...

Carla Greaves has been named the new chief excess casualty underwriter of XL Insurance (Bermuda) Ltd (XLIB) As of today, Warwick Academy graduate Ms Greaves will succeed Beth Piggott who is retiring after a 24-year career with XLIB, the Bermuda insur...