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Shares of Bermudian reinsurer Maiden Holdings plummeted 31.8 per cent yesterday, after the company announced a hefty third-quarter loss when analysts had forecast a profit. The company also continued its ongoing restructuring by striking a loss portf...

The man who oversees a company managing nearly half a trillion dollars of investors’ money sees long-term growth drivers in emerging markets that could reward patient investors. Sridhar Chandrasekharan, chief executive officer of HSBC Global Asset Ma...

Hiscox Ltd, the Bermudian-based insurer and reinsurer, has set aside $125 million to cover losses from major storms. The company’s trading statement, published today, also highlighted double-digit growth in gross premiums written across all segments ...

The Bermuda End-to-End walk’s main sponsor is to be insurance and reinsurance giant Axa XL, it was announced yesterday. The firm — formed by a merger between French Axa and Bermuda’s XL — has taken up the baton from XL, which previously sponsored the...

New technologies together with better data and analytics are changing the insurance industry, bringing efficiencies and savings for companies and consumers. But there are potential downsides and “unknowns” ahead, and the industry must also adjust its...

“United we stand, Divided we fall” Six words that every unionised worker in Bermuda, no matter which union they belong to, knows by heart. Indeed, this is the mantra that the working class of this island has lived on a daily basis in all matters of ...

NEW YORK — Investors aren’t blaming Brian Duperreault for the forces of Mother Nature. American International Group shares surged as much as 8.1 per cent yesterday, the biggest increase in almost seven years, as the insurer showed improvement in a ke...

Rapidly falling demand for electricity has impacted the earnings of Ascendant Group, the parent company of Belco. The company has reported core earnings, before corporate expenses, of $11.9 million for the third quarter, which is $900,000 down on the...

RenaissanceRe expects to realise some cost-saving benefits through its proposed takeover of Tokio Millenium Re — but it is too early for specifics on the impact on jobs. Agreement on the $1.5 billion deal, which is expected to close in the first half...

Bermudian reinsurer RenaissanceRe Holdings Ltd has agreed to buy Tokio Millennium Re in a cash-and-shares deal worth $1.5 billion. The agreement has been unanimously approved by the boards of directors of both companies. The transaction is expected t...

Arch Capital swung to third-quarter net income of $217 million, compared to a net loss of $52.8 million during the corresponding period last year. The result amounted to a 10.2 per cent annualised return on average common equity. After-tax operating ...

The cost of electricity in Bermuda is to be reviewed by Belco following an instruction from the Regulatory Authority. The retail rate review will result in an updated usage charge on bills, based on rate per kilowatt hour. In addition, the facilities...