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Reinsurance

White Mountains profits slip to $52m

Bermuda-based White Mountains Insurance Group Ltd reported net income of $52 million for the third quarter — slightly down from $57 million in the corresponding quarter last year. Ray Barrette, the group’s chairman and chief executive officer, descri...
Oct 30, 2014
Reinsurance

Argo promotes Mortimer

The insurance operations head at Argo has been promoted to lead the firm’s strategy and development arm. Nigel Mortimer is to become executive vice-president as well as continuing to run the insurance operations in Bermuda. Argo group president and C...
Oct 29, 2014
Reinsurance

TMR hires ex-PartnerRe executive Tanzola

Tokio Millennium Re (TMR) has appointed former PartnerRe executive Patrick Tanzola to be its senior vice-president, Property Underwriting for the company’s US Branch office based in Stamford, Connecticut. Pat has more than 20 years of reinsurance ind...
Oct 28, 2014
Local Business

Schaefer takes the helm at AFL

An investments firm yesterday announced a new president and CEO. Hamilton-based AFL Investments said Joel Schaefer will take over in the top job and be responsible for the overall investment business, as well as in charge of the firm’s strategic plan...
Oct 28, 2014
International Business

Bermuda-based deal-maker sees profits soar

NEW YORK (Bloomberg) — Bermuda-domiciled Lazard Ltd, the largest independent merger-advisory firm, posted third-quarter profit that beat analysts’ estimates as financial-advisory revenue increased. Net income rose 47 percent to $88.9 million, or 67 c...
Oct 24, 2014
Other

Retail sales motor vehicle sector up 12.2%

Retail sales recorded their first increase in three months with August figures showing a 0.3 per cent improvement over the same month last year, according to the Retail Sales Index, which is compiled by the Department of Statistics. But after adjusti...
Oct 24, 2014
Other

Everest Re’s Q3 results beats the street

Everest Re is reporting third quarter operating profits of $280.5 million or $6.12 a share, up 37 percent on the $205 million or $4.12 a share generated in the Q3 2013 period. The Insurance Insider, reporting on the results, said the reinsurer had “s...
Oct 22, 2014
Other

Isis renamed Ikonic Fund Services

Isis Fund Services will now be known as Ikonic Fund Services in the three jurisdictions in which it operates: Bermuda, the Cayman Islands and the United States. The company, an independent fund administrator, explained: “Even though it was a difficul...
Oct 22, 2014
Reinsurance

Kading urges governments to ‘resist the protectionist path’

A lobbyist for the Bermuda re/insurance industry said yesterday that international regulatory standards and protectionism posed a risk to global business. Speaking at the “Regulation as a Business Risk” conference at St John’s University in New York,...
Oct 16, 2014
Other

Hamilton Insurance buys Fairfax units

ZURICH (Bloomberg) — Hamilton Insurance Group Ltd., the reinsurer that counts Sanford ‘Sandy’ Weill as non-executive chairman, acquired two units from Prem Watsa’s Fairfax Financial Holdings Ltd. as part of a push into primary coverage. Hamilton acqu...
Oct 10, 2014
Other

Smokin’ hot sales!

A taste of success with a secret seasoning has inspired a young chef to create two new recipes. Michiko Campbell — whose Chiko’s Smokey Rub has sold more than 2,500 bottles since it was launched in the summer — is to introduce a special seasoning for...
Oct 08, 2014
Other

Beefing up cyber crime fight

Financial services firm KPMG has bought a chunk of a top international cyber security firm Qubera. The move follows a series of meetings last week — where KPMG played a leading role — aimed at alerting firms to the threat of cyber attacks on computer...
Oct 07, 2014
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