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Butterfield Bank has reported net income of $11.8 million for the three months ended June 30--- the second quarter in a row it has made a profit. The bank had recorded net income of $8.4 million in the first quarter of 2011. The bank’s chief execut...

Repair work on a mainline pole will result in an interruption to electricity service between 9am and 2pm today in Smith’s. The emergency shutdown will affect residents in Store Hill and Verdmont Road, as well as the entrances to Kilderry Estates and ...

XL Group Ltd has announced remarketing plans for 8.25 percent senior notes due 2012. The company said that its wholly-owned subsidiary, XL Company Switzerland GmbH, has entered into a remarketing agreement relating to the remarketing of XL Group Ltd’...

LONDON (Reuters) - The private banking arm of HSBC - including its Bermuda branch - will stop offering services to US residents outside the United States as a crackdown on offshore tax evasion makes the regulatory burden of banking around the world i...

Bermuda-based reinsurer Validus Holdings Ltd continued the verbal tit-for-tat surrounding its efforts to take over US reinsurer Transatlantic Holdings Ltd. Last week Validus put in an offer intended to derail a previously announced merger agreement ...

Bermuda-based insurer Ironshore announced that the company is broadening its relationship with Equinox Global Ltd to extend additional underwriting capacity to its trade credit insurance market programme. Ironshore will provide increased capacity on ...

The proposed Park Hyatt resort in St George’s would contain a Belco substation and not a power plant. A spokeswoman for the utility issued a statement yesterday to clarify the company’s role in the proposed development, after earlier news reports ref...

The tug of war between Validus Holdings and Allied World over Transatlantic Holdings is a positive sign for the insurance and reinsurance market, according to John Charman. In an interview with The Royal Gazette, Mr Charman said the property and casu...