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Environment Minister Marc Bean has visited a redeveloped port in the Bahamas to see how a similar project might work in Bermuda. Mr Bean was shown around the $83 million Arawak Port Development, a waterfront being reconstructed after the cargo port w...

Allied World Assurance Company Holdings last night reported an annual profit of $274.5 million, boosted by a merger termination fee from its failed attempt to combine with US reinsurer Transatlantic Holdings. The Switzerland-based re/insurer, which r...

Shares of insurance broker Willis Group Holdings Plc plunged 10.7 percent in New York trading yesterday, after fourth quarter profits fell by more than half from last year. Revenue declined and the third-largest broker, behind Aon and Marsh, missed a...

US President Barack Obama yesterday repeated a proposal that would increase the amount of US tax paid by some Bermuda reinsurers. The plan to “disallow the deduction for excess non-taxed reinsurance premiums paid to affiliates” appears as a revenue-r...

Bermuda-based CatCo has survived a baptism of fire during its catastrophe-heavy first year to give positive returns to investors and quadruple its capital base. CEO Tony Belisle said in the CatCo Reinsurance Opportunities Fund’s annual report, which ...

There are many reasons why I agreed to marry my husband, but one thing that clinched it for me was his answer to a question I asked early in our courtship. “Where do you see yourself when you retire?” I wondered. “I see myself in a rocking chair on a...

From a markets perspective, rarely is the eternal pessimist ie the investor currently thinking the world is going to hell in a hand basket correct. On the other hand, things never seem to turn out quite as well as the permanently optimistic would ha...

Summary of an important new announcement for US persons: US citizens living and working offshore, dual and triple nationality citizens with the United States but residing in another country, LPRs (long-term permanent residents, aka green card holders...

Bermuda-based Montpelier Re Holdings reported a $124 million net loss for 2011, driven by this year’s catastrophe events. In the fourth quarter, the company saw a $40 million hit from the Thailand floods and $26 million from other catastrophe events ...

Bermuda-based Everest Re reported a net loss of $80.5 million for the year, driven by catastrophe losses. The loss compares to net income of $610.8 million in 2010. Everest Re recorded $41 million net income for the fourth quarter of last year, compa...

Platinum Underwriters Holdings Ltd sustained a net loss of $224.1 million for 2011 in a year when the company was hit hard by catastrophe claims. The company managed to scrape net income of $7.1 million in the fourth quarter, a result impacted by $55...