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Credit rating agencies view Markel’s proposed buyout of Bermudian-based Nephila Capital positively. The deal, which will result in Nephila being run as a stand-alone company by existing management as part of the Markel portfolio, was announced last ...

Maiden Holdings’ sale of its US reinsurance unit to a subsidiary of fellow Bermudian company Enstar Group makes sense for both companies, according to investment research company Zacks. Maiden will receive net proceeds of $307.5 million for its Misso...

The Bermuda Monetary Authority has proposed wide-ranging fee increases and new charges for some of its services. It believes it will need a further 39 full-time staff by 2020 to continue to effectively fulfil its role and expanding mandate, and has p...

Bermudian-based Nephila Capital, the world’s largest manager of insurance-linked securities, has agreed to be bought out by US insurer Markel Corporation. Nephila has about $12.2 billion of assets under management and Markel indicated today that the ...

Private-equity firm Apollo Global Management has struck a $2.6 billion deal to buy Aspen Insurance Holdings Ltd. Rumours that the Bermudian-based insurer and reinsurer had put itself up for sale surfaced in June this year, with Argo Group and Blackst...

Law firm Carey Olsen Bermuda has appointed Bermudian Kyle Masters as a senior associate in its litigation team. Mr Masters will join Carey Olsen Bermuda after two years at Digicel Group, most recently as head of strategy and regulatory. Prior to that...

Argo Group International Holdings beat analysts’ estimates as it recorded net income of $41.8 million for the second quarter. Operating income, which strips out one-off items and changes in the value of investments, was $32.9 million, or 95 cents per...

Two wholesalers have confirmed that they have distributed no products currently under recall due to salmonella contamination in the whey powder. Pepperidge Farm in the United States voluntarily recalled more than three million packages of Goldfish c...

The Association of Bermuda Insurers and Reinsurers has appointed Leila Madeiros as chairwoman of its Policy Committee. The Policy Committee serves as the chief policy body of Abir, with review of insurance regulation in Bermuda and overseas, interna...

Insurer Brit Ltd has strengthened the team at its Bermudian-based Sussex Capital operation with two managers who were formerly with rival island reinsurers XL Catlin and MS Amlin. Richard Slater joins Sussex as underwriting director and Adam Champion...

Edgewood Pediatrics has hired two paediatricians, Stephen Kenny and Kristen Woodward, who will start work there in August. Dr Kenny completed his speciality training in paediatrics at Duke University Hospital, North Carolina last year. His comprehens...

Bermuda Aviation Services Limited made a net loss of $4.3 million for the year ended March 31. That compares to a profit of $0.8 million the year before. In a statement, the company said it had completed a comprehensive strategic and functional revie...