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Energy sector mutual insurer Oil Insurance Ltd racked up profits of $731 million in 2014, as it had its best underwriting year. The Bermuda-based company said its directors had also agreed to pay out a dividend totalling $400 million to shareholders....

Veteran insurance chief Richard Brindle is set to return to the business as part of a new $2 billion insurance venture on the Island. Mr Brindle — former CEO of Bermuda-based Lancashire Holdings — will become head of Fidelis Insurance Holdings — a hy...

By Raymond Hainey An increase in storm frequency should force a fresh look at risk from severe weather, according to a new report. The Swiss Re Sigma report on 2014 said that cyclones and thunderstorms were a major cause of losses last year. And the ...

Veteran insurance chief Richard Brindle is set to head up a new $2 billion insurance venture on the Island. Mr Brindle — former CEO of Bermuda-based Lancashire Holdings — will lead Fidelis Insurance Holdings, according to reports. The new firm is bac...

Bermuda could carve out a huge chunk of a new market for cyber insurance, experts said yesterday. They were speaking after the UK government issued a report on joint initiatives with the insurance sector to tackle cyber risk — and make the UK a world...

Bermuda reinsurers could benefit after the Florida hurricane catastrophe fund yesterday backed the transfer of $2.2 billion in risk to the private sector. And Brad Kading president of the Association of Bermuda Insurers and Reinsurers (ABIR) said: “A...

A Florida politician yesterday launched an attack on Bermuda amid a bid to transfer more than $2.2 billion into the private reinsurance market. Representative Frank Artiles said moves to transfer the risk from the state-run Florida Hurricane Catastro...

AQR Re Management Ltd is to wind down its operations after three years in business as a result of the reinsurance industry’s “consolidating market dynamics”. Some people will consequently lose their jobs at the firm, which works out of offices at 3 B...

Island insurance firm BF&M is to be the official America’s Cup healthcare provider. BF&M president and CEO John Wight said: “With the America’s Cup coming to Bermuda we wanted to show our support for the event and our community. This agreement allows...

Britain has launched a bid to muscle in on Bermuda’s money-spinning insurance-linked securities business. Bermuda is a leader in insurance-linked securities (ILS) — but yesterday UK Chancellor of the Exchequer George Osborne signalled that Britain wo...

Record-breaking winter storms in the United States caused more than $1 billion of insured losses last month, according to estimates by Aon Benfield. The US has been hit by a string of winter storms this year, which in January were estimated to have c...