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Maiden Holdings has sold its US reinsurance unit to a subsidiary of fellow Bermudian company Enstar Group. Maiden will receive net proceeds of $307.5 million for its Missouri-based subsidiary Maiden Reinsurance North America. Enstar will operate the ...

Brian Dowd is to be the new chairman of PartnerRe Ltd, he takes over from John Elkann, who has been in the position for two years. Mr Elkann is chairman and chief executive officer of Exor, the Italian investment firm that acquired PartnerRe in 2016....

Contactless debit cards are being rolled out by Butterfield Bank. The bank has announced a mass reissue of its debit Mastercard cards, which previously featured chip-and-pin technology. The cards have been enhanced further with contactless RFID (radi...

Hiscox has promoted Ross Nottingham to chairman of North America for Hiscox Re and ILS. Ross joined the Hiscox Re and ILS team in Bermuda in early 2012 as an underwriter. He was also responsible for new product development and managing broker relati...

Spencer Butterfield is the new chief executive officer of Butterfield & Vallis, which today celebrates its 100-year anniversary. He takes over from his father Jim Butterfield, who has completed a record-equalling 36 years at the head of the company. ...

The US Department of Justice has closed its investigation into Insurance Corporation of Barbados Ltd, a Barbadian insurance company of which Bermudian-based BF&M Limited is a majority shareholder. In a statement today, BF&M said the decision brings t...

Power firm Belco said yesterday it was pleased regulation changes will allow it to sign up more people to sell excess energy back into the grid. Sean Durfy, Belco CEO, added the company was happy to see “legislative deficiencies” tackled and welcomed...

XL Catlin has appointed Chris Kopser to lead its global risk management insurance North America division. He was previously with American International Group. He will report to Joseph Tocco, chief executive, North America insurance, who said: “We ar...

New-style microchipped debit cards to provide better security and contactless payment are being sent out to customers of HSBC Bermuda. The bank issued credit cards with chip and pin technology two years ago, following the introduction of the technolo...

Belco has been ordered to pay for all energy put into its system by those with solar panels. The Regulatory Authority said that those who have been putting electricity into the energy grid without being reimbursed will receive backdated payments. A s...

BELCO would like to advise customers that in order to facilitate back-end server upgrades, its website, www.belco.bm, including the customer portal, will be unavailable from 10am Friday August 17th for 24 to 48 hours. Customers who typically make ...

XL Catlin’s North America Construction business has added two more personnel to its team in order to address the construction industry’s excess casualty insurance needs. Jillian Eckert and Laura Travis have joined the Philadelphia-based team. Ed Tot...