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Barbican Insurance Group has launched a new underwriting unit in Bermuda. The company will focus on the US property market and will write exclusively on behalf of Barbican Syndicate 1955. Barbican Bermuda will underwrite a direct and facultative po...

Dear Dave, Is it okay to buy something using a rent-to-own plan? JOSH Dear Josh, I advise against rent-to-own deals. Rent-to-own places get people in the door with promises of low monthly or weekly payments. But when it comes to rent-to-own furniture...

The following question has been a familiar recurring topic over the 18 years of Moneywise. A reader wrote: “Many Bermudians have — or are considering buying — homes in the United States even though they are not US citizens nor individuals who are nor...

Public works permanent secretary Francis Richardson is to be the new chief executive of the Bermuda Shipping and Maritime Authority. The Government said an acting permanent secretary will take over Mr Richardson’s duties until an appointment is made....

Bermudian-based Sompo International Holdings Ltd has completed the full transfer of Sompo America’s business operations and staff into the Sompo International Insurance platform. Commercial property, casualty and speciality products for Japanese Inte...

Bermuda’s insurance and reinsurance market proved to be a reliable partner for the US during the second worst year for catastrophe losses on record. That is the view of John Huff, who took over as president and chief executive officer of the Associat...

Insurers and government-sponsored programmes globally faced total payout claims of $134 billion last year, only marginally below the record $137 billion of 2011. The biggest factor in those costs were weather related disasters, including hurricanes H...

Willis Towers Watson’s charity committee and its employees have made donations to ten local charities totaling $10,000. In addition, employees took up a personal monetary collection that resulted in $700 of food and goods for the Women’s Resource Cen...

Blue Capital Reinsurance Holdings broke even making neither a profit nor loss for the last three months of the year. Losses related to wildfires in California, and additional estimated losses from hurricanes in the third quarter, resulted in loss and...

The LOM Financial Group Limited has introduced a new fixed income mutual fund denominated in Canadian dollars. It will be managed by LOM Asset Management, the investment management subsidiary of the LOM Financial Group which currently manages fixed i...

Chubb Limited marginally missed market expectations when it reported its fourth quarter earnings. It suffered pre-tax catastrophe losses of $477 million from two of the largest wildfires in California’s history, although it did have a $30 million fav...

The Government intends to reduce the cost of legal aid this year by hiring two additional lawyers, according to the Attorney-General. Senator Kathy Lynn Simmons said the fixed salaries of the new counsel would contain costs while creating two new job...