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Bermudian-based reinsurer PartnerRe has announced that it has entered into a transaction with The Manufacturers Life Insurance Company (Manulife) to reinsure longevity risk from an in-force block of Canadian group payout annuities. In aggregate, Par...

Dear Sir, It is appalling that online customers of Butterfield Bank should be put to such inconvenience and loss financially as experienced this week. The fiasco, which demonstrated an utter lack of forethought on the bank’s part, could have been a...

RenaissanceRe Holdings Ltd has announced that it has received all regulatory approvals required in connection with its previously announced acquisition of Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited. Bermudian-based RenaissanceRe said...

One of Ascendant Group’s largest shareholders is urging the company to relist its shares in Canada or the US, if it does not receive an adequate buyout offer. Toronto-based IBV Capital has been accumulating shares in Ascendant, the parent company of ...

Bermudian-based global reinsurer PartnerRe is to reorganise its property and casualty business segment into a regional structure, effective April 1. The changes, announced today, will give the company three distinct P&C regional units: Americas, Euro...

Chubb Ltd has received approval from the China Banking and Insurance Regulatory Commission to increase the company’s ownership in Huatai Insurance Group Company Ltd to 26.2 per cent. That is up from its current 20 per cent and, as a result of the inc...

Ascendant Group Ltd’s core earnings dropped 10 per cent to $18.3 million last year as electricity sales slipped. Net income plunged 73 per cent, to $5.4 million from $20.2 million in 2017, driven by a one-off $12.8 million restructuring charge, relat...

A New York investment firm that is in the process of buying Bermuda Commercial Bank has “no plans with regard to gaming”, one of its principals insisted yesterday. Lewis Katz, managing partner of Permanent Capital, was asked by The Royal Gazette to c...

Butterfield Bank has introduced a new online platform that is causing some customers headaches. The new version of Butterfield Online was launched last Saturday evening and is accessed through a new web address, www.butterfieldonline.com. Customers a...

Bacardí supports the right to seek justice for those whose properties were confiscated in Cuba by the Fidel Castro regime almost 60 years ago. The Bermudian-based company was commenting in the wake of the United States’ opening of a very limited sco...

Butterfield Bank’s Bermuda workforce shrank by 18 in 2018, ending the year at 572. As a group, Butterfield had 1,373 employees at the end of the year, including 99 temporary staff. That figure is measured on a full-time equivalency basis, and compare...

Axa XL has retained the top spot-on Advisen’s Pacesetter Index, recognition of product innovation in the property and casualty insurance industry. This is the third consecutive year the company has achieved the prominent position, having introduced 1...