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Scenarios with all the ingredients of a Hollywood disaster movie are now being covered by the insurance-linked securities (ILS) market. From volcanoes and earthquakes rocking New York, Boston, and Washington DC, to a large space rock devastating part...

Major flooding in southern regions of the US and parts of Australia, a killer heatwave in India and a powerful earthquake in Nepal were among the costliest catastrophes in May. Texas and Oklahoma endured the wettest May on record, with flooding hitti...

Bermuda’s captive insurance industry will have to keep a close eye on international tax rules, an expert said yesterday. Richard Irvine, tax leader at professional services firm PwC, said: “Captives in Bermuda will need to continue to monitor the eve...

Dear Sir, It is altogether fitting and proper that we recognise heroes in this manner. I sometimes wonder if we haven’t missed a few. Was Fred Reiss accorded hero status? He was a professional engineer who came here in the sixties from the United Sta...

A new insurance and reinsurance firm has set up with a massive $1.5 billion in equity — one of the largest capital raises on record. Fidelis Insurance has opened its doors after a cash injection from three private equity firms — Crestview Partners, C...

A former White House cyber security expert has warned that Bermuda is a plum target for computer criminals. And she said that Government and the private sector would need to work together on the massive and expensive job of making the Island’s networ...

Finance Minister Bob Richards yesterday told a conference of insurers and reinsurance leaders that offshore jurisdictions — “the dots on the map” — had been under increasing attack and branded as tax havens. But he added: “I'm here to tell you today...

Finance minister Bob Richards has met the Gibraltarian government minister in charge of gambling. Albert Isola, Minister for Financial Services and Gaming in the UK Overseas Territory which borders Spain, yesterday held talks with Mr Richards on “mat...

The recession is over, Finance Minister Bob Richards told a high-profile gathering of leaders in the captive insurance industry. Mr Richards told delegates: “The six-year recession we’ve all had to endure, I think that’s over. “But I think we have to...