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Financial and business service

Politics

"Do not leave risk management apparatus to Government Cole Simons"

Government needs to create an independent risk management division to help prevent spending millions annually in insurance premiums, according to Shadow Estates Minister Cole Simons. “Over the past three years the Bermuda Government has paid in exces...
Mar 20, 2012
Reinsurance

"Catastrophe modeller rivals agree to share data"

Two of the world’s largest catastrophe modellers have entered into an agreement to share exposure data. The multi-year agreement between Risk Management Solutions (RMS) and AIR Worldwide (AIR) is limited to exposure data schemas and does not include ...
Mar 20, 2012
International Business

"Inter-Ocean Management relaunched as Oyster Consulting"

Inter-Ocean Management Ltd has been reborn in the shape of Oyster Consulting (Bermuda) Ltd. A Bermuda company established through a private act in the 1960s, Inter-Ocean Management was continually maintained by insurance industry veteran Brian Hall, ...
Mar 20, 2012
Reinsurance

"Business warned to wake up to cyber threats"

There’s no question that the internet has change the way we live and work. Now, it’s beginning to change the insurance industry, which says businesses around the world need to “wake up” to the reality of cyber threats. That’s the consensus following...
Mar 20, 2012
Opinion Writer

"Buy stocks for 90 cents on the dollar"

IF you don’t believe in the efficient market hypothesis (the assumption that the market is essentially always correctly priced with all information factored in) you may be able to uncover some anomalies. One such anomaly that exists is the pricing of...
Mar 19, 2012
Opinion Writer

"Internet removes barriers to education"

Education, education, education. First, there is no excuse for not learning today. And, I am not apologising for this statement, either. If you have the will and the interest, and whether you liked or disliked formal schooling, the World Wide Web is ...
Mar 17, 2012
International Business

"PRP Performa launches new high-yield fund"

Bermuda-based asset manager, PRP Performa Ltd, has launched a new high-yield fund designed for captive and re/insurance firms. According to the company, the Performa HY Fund, gives traditional fixed income and equity investors a way to gain diversifi...
Mar 16, 2012
Reinsurance

"Canopius suffers its first loss"

Lloyd’s insurer Canopius Group Ltd has announced its first ever loss £64 million (about $100.6 million) before tax for 2011. The loss comes after the company posted a profit of £40 million (about $62.9 million) for 2010. Canopius, a UK-based insuran...
Mar 16, 2012
International Business

"IDC to merge with Business Bermuda"

Two of the Island’s promotional groups on the front lines of attracting international business to Bermuda will be merged into one group. This is according to Minister Wayne Furbert, Business Development and Tourism in his speech to the House yesterda...
Mar 15, 2012
Reinsurance

"Allied World makes Bermuda appointments"

Allied World Assurance Company Holdings yesterday announced two senior appointments in its Bermuda operation. Peter Cooper has been promoted to senior vice-president, chief international corporate actuary, subject to Bermuda Department of Immigration...
Mar 14, 2012
Local Business

"LOM analyst sees Butterfield profits rising modestly"

Things are looking up for Butterfield Bank and its shareholders, according to LOM analysts. A report released yesterday by LOM Securities (Bermuda) Ltd rates Butterfield shares as “hold” with a price target of $1.40, 27 percent higher than yesterday...
Mar 13, 2012
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