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Oil Insurance Ltd will pay out a dividend totalling $200 million to its shareholders this year. The Bermudian-based mutual insurer, which insures the oil giants who own it, made net income of $30.9 million in 2015 and underwriting income of $56.7 mil...

Oil Casualty Insurance Ltd is diversifying beyond its traditional energy industry market. Ocil, a mutual insurer and reinsurer that is owned by the energy giants whose risks it covers, has been operating from Bermuda for 30 years. But only over the p...

A series of lunch and learn workshops focused on helping women’s development in the business world, will be staged in April and May. The series is being hosted by the Bermuda Insurance Institute, and will feature some of the island’s leading business...

The second phase of a bid to attract the millennial generation into the insurance industry kicks off today. The international drive, backed by industry veteran Brian Duperreault and his Hamilton Insurance Group, follows an insurance careers month in ...

The world’s first marine catastrophe model has been developed by Sompo Canopius in partnership with Risk Management Solutions. It comes seven months after the deadly Tianjin explosion at a container storage station in China, which killed 173 people. ...

When Bermuda reaches a world-class level in any field, it is something that should be celebrated. Last week, this scale of achievement occurred, but it would have gone unnoticed by many. There were no medals awarded, no pomp and ceremony. That’s per...

A more streamlined operation with simplified processes, increased investment in technology and automation, and the outsourcing of all but core functions, is helping Hamilton-headquartered Argo Group International Holdings to be “leaner, smarter and m...

Reinsurance firm CATCo has made a near $10.9 million share issue. The company said it had issued more than 10.67 million new C shares at a price of $1.021 “to satisfy continued investor demand and increasing demand for its reinsurance catastrophe pro...

It’s official: Bermuda has Solvency II third-country equivalency, as of today. That means the European Union considers the standard of the island’s insurance regulation to be equivalent to its own. In November last year, the European Commission recom...

Artex Risk Solutions has acquired the insurance management operations of Kane. The move means Artex’s operations in Bermuda and Cayman will combine into Kane’s. David McManus, president and CEO of Artex, said: “Kane is rightly recognised in the indus...

A bust of insurance industry veteran Robert Clements has been unveiled in the grounds of a company he helped to found. The likeness of Mr Clements, by Bermudian sculptor Desmond Fountain, has been placed on a walkway bearing his name connecting the f...

A new $200 million catastrophe bond has been admitted to the Bermuda Stock Exchange listings. The Akibare Re bond is sponsored by Mitsui Sumitomo Insurance Co and is the third in a series. All three were set up to provide Japanese typhoon reinsurance...