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A project that will allow companies to offset their carbon footprint by supporting environmental areas that naturally absorb carbon from the atmosphere, is under way. XL Catlin and The Nature Conservancy are collaborating to bring blue carbon credits...

Butterfield Bank has teamed up with five other retail banks in the Cayman Islands to create an automated clearing house to ease electronic funds transactions and enable same-day transfers. A similar system is already in operation in Bermuda, but Butt...

Somers Ltd’s first-quarter profits rose on the back of an increase in the value of the companies in which it invests. The financial-services holding company and owner of Bermuda Commercial Bank, said net income for the first three months of the year ...

Enstar reported a net loss of $41.2 million in the first quarter of the year as a fall in the market value of fixed-income securities impacted financial results. The Bermudian-based run-off specialist loss compared to net earnings of $54.7 million in...

Hiscox’s chief executive officer says “good sense is receding” in the reinsurance market, meaning rate rises in the wake of last year’s huge catastrophe losses are likely to be short-lived. The Bermudian-based company reported more than 20 per cent g...

More than 100 new marine species have been discovered during a deep sea exploration off the coast of Bermuda. The findings of the Nekton Mission I, XL Catlin Deep Ocean Survey were presented to Walton Brown, the Minister of Home Affairs, today. Alex ...

A US company yesterday confirmed that it and a group of investors had made an offer to buy Ascendant Group Ltd, the parent company of power utility Belco. Twenty First Century Utilities, which is based in Washington DC, was previously linked with in...

NEW YORK (Bloomberg) — American International Group shares dropped to the lowest level in almost two years after first-quarter profit declined and fell short of analysts’ estimates. Insurance results were hurt by catastrophe costs and a decline in ne...

Arch Capital’s shares fell more than 2 per cent yesterday after the insurer and reinsurer reported a more than 40 per cent drop in first-quarter net income. The Bermudian company made a net profit of $137 million in the first three months of this yea...

XL Group Ltd made a profit of $152.6 million, or 58 cents per share, during the first quarter. The result closely matched its performance during the same period last year, when it achieved $152.8 million, or 57 cents per share. Natural catastrophe pr...

Public feedback is being sought on a proposed Integrated Resource Plan for the island’s energy sector. The Regulatory Authority of Bermuda announced two town hall meetings as it launched the first stage of public consultation on the document, drawn ...

Clarien Bank is introducing a mobile banking app next week. At the same time it will launch a downloadable digital token app that will allow customers to authorise transactions without using a hard token. The Clarien iBank Mobile app will be availabl...