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The Bermuda Islander has not sustained any damage after a mechanical failure occurred while the vessel was being moved from her dry dock in the United States. The container ship had been undergoing routine maintenance in Jacksonville, Florida, when t...

Two container ships are making full speed to Bermuda to alleviate this week’s fresh food shortage, caused by Winter Storm Jonas hitting the United States East Coast. The island’s shipping schedule was thrown into turmoil by the perilous blizzard, lea...

Fitch expects more mergers and takeovers to come in the Bermuda reinsurance market amid tough market conditions. However, the credit rating agency sees the equivalency with Solvency II, the new European Union insurance regulations, as boosting the Is...

Post box rental fees are due before the end of this month, according to a Bermuda Post Office spokeswoman. Payments made on Monday or later will be subject to a late fee of $25 in addition to the regular post office fee, which ranges from $85 to $300...

Everest Re Group has appointed a new chief administration officer. Bill Thygeson will be responsible for several aspects of the firm’s operational platform with a focus on technology and its impact on business processes for underwriting and claims, a...

Energy and optimism are high after Ace Ltd’s $29.5 billion takeover of US insurance giant Chubb Ltd. That is the view of chairman and chief executive officer Evan Greenberg, who last night said the company had capped its last quarter trading as Ace L...

Week ending January 22, 2016 Last week was the first positive week of 2016 with the S&P Global 1200 up a modest 1.46 per cent and the US S&P 500 up 1.43 per cent. Year to date both indices are down — Global was down 7.56 per cent whilst the US index...

Courier company IBC is to be bought out by its US namesake and a group of Bermuda investors. The investor group has struck a deal with IBC Ltd in Bermuda owners BAS Services to take over the company. The move means US-based IBC Inc and private invest...

Treacherous blizzards on the east coast of the United States have wreaked havoc on the Island’s shipping schedule. The delayed arrival of both the Amstel Trader and the Somers Isles this week could have a significant impact on supermarkets as well as...

The Mediterranean island of Malta is set to challenge Bermuda for its captive insurance crown. The country is to launch a drive to attract the captive industry to its shores, instead of Bermuda. But Robert Paton, president of the Bermuda Insurance Ma...

This is the third part of a review of the Bermuda consolidated fund audit report for the years 2010, 2011, 2012 by a former auditor. The first two parts were published on December 19 and January 16.>In part 3, we focus on some of the serious reasons ...

If you spend all your time thinking about money, chances are, you’re going to get pretty good at thinking about money. Indeed, new research suggests that the poor — for whom concerns about cash are inescapable — are not as prone to certain financial ...