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Mark Byrne’s attempt to buy a 25 percent stake in Bermuda-based Omega Insurance Holdings was hanging in the balance last night. Early yesterday, the offer of Mr Byrne’s investment vehicle Haverford Bermuda Ltd to acquire a quarter of the insurer’s sh...

American International Group Inc’s property-casualty unit Chartis is issuing $575 million worth of catastrophe bonds to increase its protection against natural disaster claims. In January this year, Chartis listed a $450 million catastrophe bond thro...

Greg Hendrick is to take over from Dave Duclos as chief executive of XL Group’s insurance operations from the start of next year, the company announced yesterday. Mr Duclos, who has headed the insurance segment since 2008 is due to retire on December...

Butterfield Bank yesterday announced yesterday announced that senior international trust practitioner Martin Pollock has been appointed managing director of its wholly-owned subsidiary, Butterfield Trust (Bermuda) Ltd. Mr Pollock, a member of the Ins...

Bermuda reinsurer Validus Holdings yesterday withdrew its offer for American peer Transatlantic Holdings, ending a months-long hostile takeover battle. Validus launched its offer in July, attempting to break up a deal Transatlantic already had with A...

Longer-term challenges including a stagnant housing market and US government budget cutbacks will restrain economic growth over the next year. That is the view of Ryan Wang, a US economist at HSBC based in New York, who was visiting the Island this w...

The Bermuda Telephone Company Ltd (BTC) has announced the launch of new branding following the release of its new eight megabit (MB) and 10MB services. Jennifer Mahoney, assistant vice-president of marketing at BTC, said: “You may have noticed a rath...

When Bermuda Institute student Paul DeShields, 16, first started taking part in a special island wide high school fitness programme, other students had to encourage him to keep going through the training exercises. Two years later, it was Mr DeShield...

Bermuda Commercial Bank Ltd recorded substantial growth in earnings, interest income and customer deposits in its 2011 fiscal year. The bank’s total profit for the 12 months through September 30, 2011, was $12.6 million, BCB announced yesterday. Eve...