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Bermuda-based Seadrill has exercised an option to build a new ultra-deepwater dual derrick drillship at the Samsung yard in South Korea for an estimated $600 million. The total project cost includes project management, drilling and handling tools, sp...

American Safety Insurance Holdings Ltd. has announced it expects to report pre-tax losses of between $5 million and $7 million from the New Zealand earthquake and other events in the first quarter. The insurer said that catastrophe losses within the ...

LONDON (Reuters) - British insurer Amlin said its natural disaster losses in the first quarter could be as high as £275 million ($444.5 million), including a hit of up to £150 million from the Japanese earthquake. Amlin, the biggest listed insurer op...

Aspen US Insurance has announced the addition of two new members to subsidiary Aspen Specialty’s US surety team. James Mercier, senior vice-president, associate general counsel and claims, surety and Scott Sadowsky, senior vice-president, finance and...

Bermuda-based Seadrill has announced that North Atlantic Drilling Ltd has acquired its harsh-environment drilling activities for $4.1 billion. The acquisition, which was successfully completed last month, follows North Atlantic Drilling’s private pla...

Business owners and sales professionals will get an insight into how to achieve more in the next 12 months than they did the past 12 years from Special Forces veteran and martial artist Terry Bryan. Mr Bryan, founder of the Streetwise Success Systems...

BF&M Ltd fell 3.33 percent (50 cents) on The Bermuda Stock Exchange (BSX) yesterday. The insurer traded 3,000 shares to close at $14.50. Butterfield Bank’s preference shares also dropped 2.8 percent ($35) to $1,215 as 100 shares changed hands. The ba...

Kentucky Fried Chicken (Bermuda) Ltd’s (KFC) profits dropped 28 percent during the fiscal year 2011 as the economic downturn continued to take its toll on business. In his letter to shareholders, chairman Donald Lines said that sales also fell to the...

Argus Group Holdings Ltd rose 3.75 percent (18 cents) to $4.98 on The Bermuda Stock Exchange (BSX) yesterday. The insurer traded 200 shares during the day. Butterfield Bank also saw 1,500 shares change hands as it climbed 3.17 percent (four cents) to...

Bermuda-based Teekay Corporation has announced that Peter Evensen has succeeded Bjorn Moller as president and CEO and has joined the company’s board of directors Meanwhile Bruce Chan has succeeded Mr Moller as Teekay Tankers’ CEO. Mr Moller has als...