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A drunk passenger was arrested after he verbally abused crew and fellow travellers on a plane heading to Bermuda on New Year’s Eve. The man, 54, acted in a belligerent manner on the British Airways flight from Gatwick Airport, according to police. He...

Bermudian reinsurance firm Validus Holdings is sponsoring a $400 million catastrophe bond issuance. The issuance will be made through the newly formed Bermuda special purpose insurer Tailwind Re Ltd in the form of three tranches with varying levels o...

Chubb Limited, which has offices in Bermuda, expects to record a one-time benefit from the new US tax law in excess of $250 million in the fourth quarter of this year. Chubb’s preliminary estimate reflects the one-time impact of the reduced US corpor...

RenaissanceRe Holdings Ltd expects a $40 million reduction in income as a result of the passing of the US tax Bill. In a statement, the Bermudian-based company said it had conducted a preliminary assessment of the Tax Cuts and Jobs Act of 2017, which...

Bermudian-based insurer Ironshore announces that its Pembroke Managing Agency has been granted “in principle” approval by the Lloyd’s Franchise Board to create GIC Re’s syndicate at Lloyd’s. GIC Re is ranked twelfth among the top 40 global reinsurer...

Billionaire investor Michael Lee-Chin sees a bright future for Bermuda — a view he has backed with hard cash in the form of his purchase of a controlling interest in Clarien Bank. The charismatic Jamaican-born chairman of Canadian firm Portland Holdi...

Somers Ltd, owner of Bermuda Commercial Bank, said net income fell nearly 40 per cent to $19.4 million for the year ended September 30. The financial-services holding company with interests in the UK, Australia and Ireland said BCB had made a $1.1 mi...

“Bionic underwriters” could soon be transforming the insurance industry, combining experienced judgment and human ingenuity, but supported and enhanced by the speed and strength of technology. That was a vision expressed by Albert Benchimol, chief ex...

Bermuda Aviation Services Ltd has suspended dividend payments to shareholders amid an in-depth review of its businesses as it posted a half-year loss of $0.3 million. The Bermuda Stock Exchange-listed company said the loss in the six months ended Sep...

Health insurance has come a long way from the traditional role of paying out when individuals are ill to a more proactive role in managing patients’ own healthcare cost. And not only in Bermuda is the role of the health insurer changing. This was one...

Butterfield Bank today announced that it would raise lending rates and its fixed-term deposit rates for savers after the US Federal Reserve’s rate hike yesterday. Clarien Bank said yesterday that it also plans to raise rates for savers and borrowers,...

Digicel and global technology giant Cisco are working together on a “digitisation vision” for Bermuda, as well as 25 other countries in the Caribbean and Central America. The two companies have signed an agreement aimed at “accelerating the digital a...