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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...

Axis Capital made a profit of $43 million, or 52 cents per share in the third quarter, compared to a loss of $468 million for the same period in 2017. Its operating income was $81 million, or 96 cents per share, which easily beat analysts’ estimates ...

Bermudian-based Validus is celebrating the tenth anniversary of its student programme, and a number of former students who now work at the firm have spoken about how the programme helped them achieve their goals. Validus said the programme takes an h...

More than $600 million was wiped off the value of Butterfield Bank as its share price tumbled on The New York Stock Exchange. Investors were rattled by a sharp decline in deposits at the bank, and lower expectations of revenue from the banking custod...

Thieves stole the latest iPhones during a raid on telecoms firm Digicel in Hamilton, police confirmed yesterday. The public were asked to beware of anyone trying to sell the new models after a break-in at the company’s Church Street store. A Bermuda ...

American International Group has been given the green light to split its European subsidiary into two, as it prepares for the UK’s exit from the European Union. The High Court of England and Wales has approved the transfer of British-based AIG Europe...

Chubb Limited made a profit of $1.23 billion, or $2.64 per share, in the third quarter, compared to a loss of $70 million for the same three months in 2017. The global insurer, which has offices in Bermuda, reported core operating income of $1.12 bi...

A break-in at telecoms firm Digicel forced the store to stay shut yesterday until the afternoon. It was the second incident at the red landmark building on Church Street in Hamilton in three days. Thieves broke into the shop and stole an unknown quan...

Dennis Pimentel, a former apprentice at power firm Belco has been appointed as its new president with operational accountability. Sean Durfy, who has been under fire over his management style, which led to a strike, will remain as president and chief...

Butterfield Bank made a profit of $50.4 million in the third quarter, but missed analysts’ expectations. The profit equated to 90 cents per diluted share, five cents lower than the predicted estimate of a consensus of market analysts. It was $10.3 mi...