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Financial and business service

Reinsurance

James River Group plans IPO

Bermuda-based re/insurer James River Group Holdings has filed for an initial public offering (IPO) of shares to the public, seeking to raise up to $288 million. The company, which provides casualty reinsurance and excess and surplus lines insurance i...
Dec 05, 2014
Reinsurance

Third Point Re to launch US subsidiary

Bermuda-based Third Point Re is to launch a US subsidiary, the firm announced yesterday. Jonathan Norton has been hired in a dual role which we will see him become chief reserving actuary in Bermuda while spearheading the new business with another ne...
Dec 05, 2014
Reinsurance

Fitch: RenRe-Platinum deal could spark more M&A

Fitch Ratings believes that merger and acquisition (M&A) activity may gather pace in the reinsurance sector after RenaissanceRe Holdings struck an agreement to acquire fellow Bermuda reinsurer Platinum Underwriters Holdings last month. Fitch said in ...
Dec 03, 2014
Other

Bermuda five make captive power brokers list

A Bermuda businessman has made the top ten of a list of 50 of the major power brokers in captive insurance. Peter Mullen, the chief executive of Aon Captive and Insurance Management, is the highest placed of five Island business chiefs to make the li...
Dec 02, 2014
Opinion Writer

When it seems too good to be true...

Scammers and those being scammed, part two “At the bottom of Multi-Level Marketing — a scummy business at best — lurks Global Prosperity. The slimy-est of the slimy MLM programmes, none is more of a scam, or has such a disreputable background, as Gl...
Nov 29, 2014
Personal Finance

How do we solve our budget challenges?

Dear Dave, My husband and I are following your plan, and we’re trying to reconcile our on-paper budget with what’s going on in our bank account. Most of our bills are due the first half of the month, but we receive most of our income during the seco...
Nov 29, 2014
Other

Crematorium plan refused, but hopes remain

A funeral home has vowed to continue its battle to open Bermuda’s first crematorium after its bid to build one in Southampton was rejected by planners. Amis Memorial Chapel’s proposals to construct a crematorium on Industrial Road were refused by the...
Nov 27, 2014
Reinsurance

LeStrange re-enters market as Orchid chairman

A one-time leading figure in Bermuda reinsurance, Kenneth LeStrange, has re-entered the market as the new chairman of Florida-based Orchid Underwriters Agency, LLC, industry media are reporting. The appointment comes after a management buy-out of th...
Nov 25, 2014
Other

Clarien aims to top 2013 GiveBack numbers

Clarien Bank has launched its eighth annual Holiday GiveBack programme, a donation initiative that encourages Clarien employees, customers and the entire community collaboratively to provide assistance to local charitable efforts during the season of...
Nov 24, 2014
Personal Finance

Wedding bells ... when it’s times three

Dear Dave, My mother-in-law is in poor health and doesn’t have a lot of money. She has been giving us a lot of her earnings over the last couple of years as a kind of early inheritance, because she’s afraid she’ll spend it all. We’re setting it aside...
Nov 22, 2014
Reinsurance

Hamilton buys into Lloyd’s market

Bermuda-based Hamilton Insurance Group has snapped up a Lloyd’s managing agent and a City insurance broker. The double acquisition gives Hamilton a major presence at the Lloyd’s of London market through leading sports and leisure insurance company Sp...
Nov 19, 2014
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