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"Capital G Bank profits soar to $3.2m"

Capital G Bank Ltd made a $3.2 million profit last year - an increase of 38 percent over the $2.3 million recorded for the 11 months ended December 31, 2009. In a statement released yesterday, the privately held bank revealed that customer deposits g...
Mar 23, 2011
Other

"Munich Re $100m issuance lists on BSX"

German reinsurance giant Munich Re has listed a $100 million insurance-linked security (ILS) on the Bermuda Stock Exchange (BSX) through its Irish special purpose vehicle. In a statement released today, the BSX said its Listing Committee had approved...
Mar 23, 2011
Other

"Bermuda-based insurer mulls bankruptcy"

Bermuda-based insurer Majestic Capital Ltd and its subsidiaries intends to file for bankruptcy in Bermuda and the US after its proposed merger with Bayside Capital Partners fell through. Bayside cited a material deterioration in Majestic Capital's ca...
Mar 21, 2011
Reinsurance

"AIG estimates $1b in first quarter catastrophe losses"

NEW YORK (Reuters) - Bailed-out insurer American International Group (AIG) said it would post an estimated $1 billion in pre-tax catastrophe losses in the first quarter, mostly from exposure to the March 11 earthquake in Japan. AIG said its exposure ...
Mar 21, 2011
Bermuda Stock Exchange

"Argus/BNTB drop"

Argus Group Holdings Ltd and Butterfield Bank were the biggest losers on The Bermuda Stock Exchange (BSX) last week. Argus fell 9.8 percent (45 cents) to $4.15 with 500 shares traded, while Butterfield dropped six percent (eight cents) to $1.26 as 12...
Mar 21, 2011
Reinsurance

"Omega shares rise 18% on takeover bid"

Shares of Bermuda-based Omega Insurance shot up 18 percent on Friday, as the insurer confirmed that more than one company has expressed interest in taking it over. Omega received a bid from privately-owned rival Canopius in January and on Friday the ...
Mar 21, 2011
Reinsurance

"Argo estimates losses up to $45m for New Zealand earthquake"

Bermuda-based re/insurer Argo Group International Holdings Ltd estimated that its pre-tax losses from last month’s earthquake in New Zealand will be in the range of $35 million to $45 million. The earthquake caused massive damage in the city of Chris...
Mar 21, 2011
Personal Finance

"Delhaize has plenty of cash to cover rough patches"

Q. What are the prospects for my shares of Delhaize Group? Are things looking up at all? ML, via the Internet A. While it derives the bulk of its operating profits from the US, this Belgian supermarket operator with around 2,700 stores does not have ...
Mar 19, 2011
Other

"Argo sees up to $45m loss from NZ quake"

Bermuda-based re/insurer Argo Group International Holdings Ltd today estimated that its pre-tax losses from last month’s earthquake in New Zealand will be in the range of $35 million to $45 million. The earthquake caused massive damage in the city of...
Mar 18, 2011
Reinsurance

"Everest sees quake and flood losses up to $285m"

Everest Re Group Ltd has issued preliminary loss estimates of between $140 million and $210 million for last month’s New Zealand earthquake. The company also expects gross losses of $45 million in the first quarter due to this year’s Australian flood...
Mar 18, 2011
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