By NAN Business Editor
News Americas, NEW YORK, NY, Fri. June 17, 2016: They are listed by Forbes as some of the world’s biggest companies today and seven of them are located on the small Caribbean British island territory in of Bermuda, which has a tax rate of 0 percent. Here they are in order of rank:
1: Everest Re Group
Everest Re Group is an insurance company that underwrites virtually all classes and categories of reinsurance and insurance globally, through brokers and directly to ceding companies. The company is ranked #890 globally on the Forbes World’s Biggest Companies list with profits of US$968 M. Its market value is put at $8.2 B. Everest Re Group, Ltd. in April reported first quarter 2016 after-tax operating income of $329.9 million, or $7.34 per diluted common share, for the first quarter of 2015 alone.
2: Arch Capital Group
Arch Capital Group is also an insurance and reinsurance company located on in Bermuda, the United States and Europe. It is ranked #1145 globally with assets of $538 M and a market value of $23.2 B. The company recently reported first quarter profits of $149.3 million.
3: Signet Jewelers
Signet Jewelers Ltd. is the world’s largest retailer of diamond jewelry and is an Akron, OH-headquartered company listed on both the New York Stock Exchange and the London Stock Exchange but domiciled in Bermuda. It is ranked #1332 globally with profits of $468 M and a market value of $8.8 B. The company recently announced first quarter sales of $1.6 billion.
4: Assured Guaranty
Assured Guaranty provides municipal bond insurance and financial guarantees for infrastructure and structured financings. It is ranked #1448 globally with profits of $1.1 B and a market value of $3.6 B. It’s net income for first quarter 2016 was put at $59 million.
5: Axis Capital Holdings Ltd.
AXIS Capital Holdings Limited is the holding company for AXIS group of companies. It offers various risk transfer products and services through subsidiaries and branch networks in Bermuda, the United States, Canada, Europe, Australia and Singapore. It is ranked #1450 globally with $642 M in profits and a market value of $5.1 B. AXIS Capital Holdings Limited recently reported net income of $38 million for the first quarter of 2016.
Lazard is a financial advisory and asset management firm that engages in investment banking, asset management, and other financial services primarily with institutional clients. Its principal executive offices are in New York City, Paris and London. It is listed at #1800 on the global company ranks with $986 M in profits and a market value of $4.9 B. The company recently reported first quarter operating revenue of $506 million.
Seadrill is a deepwater drilling contractor which provides drilling services to the oil and gas industry. It is incorporated in Bermuda and managed from London. It is ranked #1966 on the global company ranks with market value of $2 B. The company suffered a loss in the first quarter this year.