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One of the questions that arise at all times is the following. How did the wealthy become so rich? And why aren’t they spreading it around? The answers, if I may presume to speak for them, are: They earned their wealth (yes, well, a minority inherit...

Bermuda-based reinsurer SAC Re has announced it has filled four key management posts in its property reinsurance, finance and risk management teams. The company, which launched operations this year and which is backed by SAC Capital Advisers, a hedge...

As the US East Coast struggles to recover after the devastation brought by Hurricane Sandy, the damage estimates are going up. Hurricane Sandy may cost the insurance industry as much as $20 billion according to new damage estimates by disaster model...

Insurers and reinsurers won’t know the final bill for Hurricane Sandy until after business returns to normal in New York and flooding in the path of the biggest Atlantic storm in history is fully assessed. And while there may be homeowners disputes a...

Munich Re has sponsored a $75 million cat bond that will be listed on the Bermuda Stock Exchange. The German reinsurance giant has regularly used the Island to raise extra capacity through its Queen Street series of transactions. Queen Street VII Re ...

Allied World Assurance Company Holdings last night reported net income of $219.6 million for the third quarter and comfortably beat analysts’ expectations. The Switzerland-based re/insurer with substantial operations in Bermuda posted operating earni...

Montpelier Re Holdings reported its third quarter net income swung to $71.7 million from a loss of $66.2 million in the same period last year, thanks to lower catastrophe losses. The company easily beat the expectations of Wall Street analysts posti...

NEW YORK (Reuters) - Hurricane Sandy appears to have easily caused more losses than last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies said yeste...

Economy, Trade and Industry Minister Patrice Minors has offered to issue temporary work permits immediately for Bermuda international businesses needing to relocate staff to Bermuda because of Superstorm Sandy. In a statement last night Ms Minors sai...