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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...

An employee at telecoms firm Digicel returned to work yesterday after a criminal action against the individual was dropped. The company said it had also carried out an internal investigation but no details would be made public. A spokeswoman for Digi...

Bermuda Press (Holdings) Ltd’s profit surged more than 77 per cent last year, even as revenue fell. The company, which owns The Royal Gazette, as well as commercial printing, retail and real-estate interests, and the eMoo e-commerce website, reported...

Hiscox’s pre-tax profits tripled to $137.4 million last year, as gross premiums written rose 15 per cent across the group. The Bermudian-based company’s reinsurance and ILS segment had a second year of dealing with significant claims and posted a net...

Belco reminded property owners to cut back their trees from power lines as they continue to cause outages across the island. More than 3,400 customers lost power last year as a result of trees falling on power lines that were not related hurricanes....

A single plastic bag can take a 1,000 years to break down in the environment, and when it does, it contaminates everything around it. But Gibbons Company wants to be part of the solution, not the problem. In December, the company started giving awa...

Axis Capital Holdings Ltd has appointed Lizabeth Zlatkus to the company’s board of directors, effective March 15, 2019. Ms Zlatkus previously held several senior management positions at The Hartford Financial Services Group, including chief financia...

Hurricane Michael and wildfires in California impacted fourth-quarter results for PartnerRe, which has reported a loss of $32 million. The hurricane and wildfires created losses of $282 million for the Bermudian-based reinsurer, which was partially o...

One of the three men lined up to be new co-owners of Bermuda Commercial Bank is no longer one of the purchasers. Logan Sugarman was to have been a 20 per cent beneficial owner of the bank, but will no longer be, according to Permanent Capital Holding...

HSBC Bermuda posted net profit of $139 million for last year — down by $1 million from 2017, after one-off items were stripped out. The bank said that total operating income before loan impairment charges was $280 million, consistent with 2017. Incre...

Butterfield Bank will be “intensely focused” on reducing expenses in the higher-cost jurisdictions where it has operations, during the next six months. Automation, and moving aspects of its business to Canada and Mauritius, are among cost-reduction m...