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Thirteen jobs are to go at Butterfield Bank in Bermuda. A spokesman for the bank said staff had been told the news yesterday. “Butterfield today announced a restructuring at the executive committee level and involving several departments that will re...

Ascendant Group Ltd’s reported earnings fell 70 per cent in the first six months of the year to $3.2 million. The decrease from the $10.2 million of net earnings reported in the first half of 2017 was driven by higher depreciation costs, the payment ...

An old HSBC building on Hamilton’s Front Street is in line for a transformation into shops and offices. The six-floor Albuoy’s Point building will also get underground parking if a planning application is approved. The application from MND Properties...

Lightning storms cut power to nearly 800 homes on Tuesday night. A total of 738 residents in the Evan’s Bay area of Southampton were left in the dark about 10.30pm, but power was restored less than an hour later. In addition, 61 people lost power in ...

Global insurer Chubb Ltd reported net income of nearly $1.3 billion for the second quarter, in line with profits from the corresponding period last year. The Swiss-based company with operations in Bermuda posted core operating income of $1.25 billion...

Butterfield Bank posted net income of $49.7 million for the second quarter — up from $44.2 million in the first quarter and $36.1 million in the same period in 2017. One of the main drivers of the increase was $7.5 million increase in net interest in...

Axis Capital Holdings Ltd beat analysts’ estimates as it recorded second-quarter net income of $93 million. The Bermudian-based insurer and reinsurer’s profit broke down to $1.11 per share and compared to net income of $85 million in the second quart...

HSBC Global Asset Management (Bermuda) Ltd has launched a new offshore US Treasury Fund, domiciled on the island. The fund is aimed at meeting rising demand from institutional investors from the Bermudian insurance, reinsurance, captive and insuranc...

RenaissanceRe Holdings Ltd posted second-quarter net income of nearly $192 million on the back of what the Bermudian firm’s CEO described as “our best portfolio of risk in years”. The reinsurer handily beat Wall Street expectations with operating ear...

Bermuda Aviation Services Ltd today announces the appointment of two Bermudians to key positions within the organisation’s companies: Azeem Khan in the role of vice-president, technical operations for the CCS Group and Antoine Lambert as operations m...

Almost half the Bermuda’s population has one or two chronic disease challenges, and that is a major factor in the $701 million annual cost of healthcare on the island. Data shows that 45 per cent of the island’s residents fall into that category, and...

Belco has unveiled its new more environmentally friendly hybrid bucket truck fleet. The new Isuzu 2018 diesel NRR models replace old vehicles as part of a plan to convert most of its fleet to electric vehicles by 2025. The hybrid trucks are equipped ...