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Financial and business service

Reinsurance

"Bermuda no longer the No.1 captive domicile?"

Bermuda has been overtaken by Vermont to lose its long-held position as the world's leading captive domicile, according to The Captive Review magazine. But that assessment - derived from a weighting system based on captive numbers, premium and assets...
Mar 15, 2011
Reinsurance

"Insurers may face $35b bill from Japan quake damage alone"

As Bermuda’s insurers prepare for some hefty claims from the massive earthquake and devastating tsunami that hit Japan on Friday, catastrophe modeller Eqecat said economic losses could top $100 billion. Insured losses could be as high as $35 billion,...
Mar 14, 2011
Reinsurance

"Catastrophe bonds may be triggered"

LONDON (Reuters) - Eight catastrophe bond transactions totalling over a $1 billion could leave financial investors exposed to insured losses after a huge earthquake struck the northeast coast of Japan on Friday, triggering a 10-metre high tsunami. Ca...
Mar 14, 2011
Reinsurance

"AIG bids to take back $15.7b in mortgage bonds"

NEW YORK(Reuters) - American International Group’s bid to take back $15.7 billion in risky mortgage bonds may inject fresh confidence in a market where investors had started to question a nearly two-year rally. AIG said it made the offer to the Feder...
Mar 14, 2011
Economy

"Two new insurers set up last month"

Two insurance companies set up in Bermuda during February bringing the total number formed this year to three. Signal Risk Insurance Ltd was incorporated by Aon Insurance Manager (Bermuda) Ltd. on February 10. Haverford (Bermuda) Ltd, a 3A class insu...
Mar 14, 2011
Reinsurance

"Bermuda delegation heads for Arizona conference"

A delegation of 20 regulators, captive managers, brokers, lawyers and accountants will be flying the flag for Bermuda at the Captive Insurance Companies Association 2011 International Conference held in Tucson, Arizona this week. Shelby Weldon, direc...
Mar 14, 2011
Bermuda Stock Exchange

"Butterfield climbs 3.1%"

Butterfield Bank shares rose 3.1 percent last week to propel the Bermuda Stock Exchange to a positive five days of trading. The bank climbed four cents to $1.34 as 22,992 shares changed hands. Butterfield’s preference shares also rose by $1, or 0.1 p...
Mar 14, 2011
Opinion Writer

"Is your job at risk? Why it pays to keep your eyes open"

This article was originally written in 2003 as job erosions started quietly in the private sector. It has been updated for the current environment. Is Your Job On The Line? In 2003, the Bermuda Bakery production facility closed, along with the loss ...
Mar 12, 2011
Personal Finance

"Adobe Systems overcomes obstacles to continue rise"

Q: What’s the outlook for my shares of Adobe Systems Inc.? They have disappointed. M.A., via the internet A: Coming off a lacklustre year, this pioneering software company that is famous for its Flash, Photoshop, Illustrator and Acrobat products shou...
Mar 12, 2011
Personal Finance

"Delusions of scholarship riches"

WASHINGTON - As the parent of a soon-to-be college student, I’m privy to a lot of conversations other parents have about their child’s chances of getting significant scholarship or grant money. I have one word to describe many of these conversations:...
Mar 12, 2011
Opinion Writer

"Negative duration as a guard against a Treasury tumble"

What had once been a fairly straightforward asset class focused on yields, maturity, and credit standing, global fixed income investing has now become an intense exercise to assess sovereign debts and currency changes. There are now more than 100 ma...
Mar 12, 2011
Bermuda Stock Exchange

"KeyTech drops 13%"

KeyTech Ltd. fell 13.44 percent (94 cents) on The Bermuda Stock Exchange (BSX) yesterday. The telecommunications provider traded 4,400 shares to close at $6.05 for the day. Butterfield Bank’s preference shares also rose 0.08 percent ($1) to $1,236 wi...
Mar 12, 2011
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