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Philip Butterfield formally retired as HSBC Bank Bermuda’s CEO yesterday, handing the reins over to the company’s former deputy CEO, Richard Moseley. Mr Butterfield steps down after serving as the bank’s CEO for eight years, but will stay on with th...

Alterra wrote more business and easily beat Wall Street expectations reporting a $79 million profit in the first quarter. The global insurer’s net income broke down to 66 cents per diluted share for the first quarter of 2012, compared to a net loss ...

NEW YORK (Bloomberg) - XL Group Plc advanced the most since November in New York trading yesterday after the insurer swung to a first-quarter profit, beating analysts’ estimates. The insurer rallied 4.3 percent to $22.25 in New York Stock Exchange tr...

AIG property-casualty unit Chartis has laid off four employees in Bermuda and plans to cut at least six more jobs this year as part of a reorganisation. Chartis Bermuda, located in the former AIG building, now Chartis House, currently employs over 15...

Butterfield Bank is looking to cash in on a boom in the London property market and gain a larger share of borrowers’ asset management and banking business. The Bermuda bank’s UK operation is among a growing number of foreign private banks entering th...

XL Group wrote more business and comfortably surpassed analysts’ expectations as it swung to a $176.6 million profit in the first quarter. The global business insurer’s net income broke down to 56 cents per share and compared to a net loss of $227.3 ...

Bermuda-based re/insurer Hiscox saw rates in catastrophe lines improve during the first quarter, as the company’s gross premiums written for the quarter remained broadly flat for the first three months of the year. In its interim management statement...

Trees “butchered” along roadsides are in fact being cleared by professionals at the behest of Belco, the organisation responsible has said. A letter writer to The Royal Gazette has asked why wide swathes of vegetation, including stands of palm trees,...

Nearly three months after completing its inquiry, the Telecoms Commission still has not announced a decision in the dispute over Digicel international long distance (ILD), which the company continues to offer. The dispute could ultimately end up back...

Digicel Bermuda is ending its popular $45 Premium unlimited data plan. The data plan - for $45 a month with no overages - will no longer be offered after June 1. “A large portion of our customers are on the $45 Premium Data plan which is why we want ...

HSBC Bermuda has launched a new diversity and inclusion initiative called the Diversity Champions Programme. The Diversity Champions Programme is designed to increase the participation and support of bank employees in furthering the bank’s diversity ...

Butterfield Bank has agreed to sell its Barbados subsidiary, Butterfield Bank (Barbados) Ltd, to Trinidad and Tobago-based First Citizens Bank Ltd, in a deal worth around US$45 million. The bank said late yesterday that pending regulatory approval, t...