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Pete Cangany has been promoted to Ernst & Young Ltd’s senior partner in Bermuda, replacing Gil Tucker who will move into the role of chairman. The leadership changes will take effect on July 1. Since January 2013, Mr Cangany has served as insurance ...

Dear Dave, I want to roll over a 401(k), and my bank is encouraging me to roll it over to fixed annuities. Is this a good investment? John Dear John, More times than not, when you go to a bank for investment advice, what you’ll get in the bargai...

WASHINGTON (Bloomberg) — A bipartisan group of US senators has agreed on legislation to extend the government’s financial backstop of terrorism insurance for seven years. The legislation would raise private insurers’ co-payments to 20 percent from 15...

The Bentley Friendly Society, set up in October of 2012 to provide property, home, automobile and motorcycle insurance, has been told the Transport Control Department (TCD) will no longer accept their certificate of motor insurance documents “with im...

Business interests ranging from Walt Disney to Dow Chemical are among 260 organisations who have signed a letter to the US Congress calling for the Terrorism Risk Insurance Act (TRIA) to be reauthorised. The US Chamber of Commerce rallied those who s...

About 200 people packed a rare auction which included antique cedar furniture and paintings by luminaries of the art world, including marine specialist Stephen Card and sculptor Desmond Fountain. About 100 items went on the block last Thursday evenin...

Freisenbruch-Meyer Insurance Services Ltd.(FMIS) has announced it has been invited to be a member of Assurex Global as the exclusive ‘partner’ in Bermuda. A press release announcing the invitation stated: “After a thorough vetting process, the world...

Reinsurers had a “miraculous” year of strong profitability in 2013 — despite a slew of challenges which ratings agency AM Best expects to weigh on the industry’s future prospects. In its special report on the global reinsurance sector, entitled “Coul...