Archive for December 2nd, 2010
Video: ACE “25 Years of Insuring Progress”
The ACE Group has opened an art exhibition, called “25 years of Insuring Progress.” The exhibition highlights the history of the company, its roots in Bermuda and its growth from a Bermuda-based monoline insurer to one of the world’s leading global providers of commercial property and casualty insurance and reinsurance. The 13-panel exhibition... Read more of this article
Report: Re/insurance Sector Challenges
Bermuda’s global insurers and reinsurers are contending with a serious and ongoing market contraction — and the bottom of the cycle has yet to be reached, says ratings agency A.M. Best. An exclusive report posted by news agency Reuter today [December 2] cites a new Best report on the multi-billion dollar Bermuda re/insurance sector... Read more of this article
Free: Hamilton Car Parks on Saturdays
The City of Hamilton today [Dec 2] announced there will be free parking in all city car parks over the next three Saturdays. In addition to Bulls Head and Elliott Street which are always free on Saturdays, the following car parks are affected: City Hall, Number 1, Number 5, Number 8, Cavendish and Par-la-Ville. Motorists will still have to pay to park... Read more of this article
17-Yr-Old Hospitalized After Collision
A 17-year-old was taken to King Edward VII Memorial Hospital via ambulance following an collision with a taxi at 9:45am this morning [Dec 2]. The accident occurred on Harrington Sound Road in Smith’s parish near the junction with Harrington Hundreds Road involving the auxiliary cycle and taxi carrying passengers. The Police say that it appears that... Read more of this article
Ex-Tyco Boss Must Forfeit $100 Million
L. Dennis Kozlowski, the jailed former chief executive of Tyco, must replay all of his compensation earned over a nearly seven-year period beginning in September 1995, shortly before the multi-billion dollar manufacturing conglomorate reincorporated in Bermuda. A US federal judge today [December 2] ruled that Mr. Kozlowski has to forfeit more than... Read more of this article
Upcoming: War Memorial Dedication Ceremony
An official Dedication Ceremony for the new War Memorial on the grounds of the Cabinet Office will take place on Sunday December 12, 2010 at 9:30 a.m. Governor Sir Richard Gozney, Premier Paula Cox and Deputy Premier and Minister of Public Works Derrick Burgess, will be among the dignitaries in attendance to honour the sacrifices made by those Bermuda... Read more of this article
Primus Guaranty Sells CypressTree Subsidiary
Hamilton-based Primus Guaranty, Ltd. today [December 2] announced it has completed the sale of CypressTree Investment Management, LLC , its third-party asset management subsidiary, to Commercial Industrial Finance Corp. (CIFC). Terms of the transaction were not disclosed. Headquartered in Bermuda at Clarendon House, Church Street with primary operations... Read more of this article
Wikileaks Cables: Bermuda’s First Mention
Bermuda has received our first passing mention in one of the Cables being released in the so-called “Cablegate” – the release of over 250,000 secret documents by the Wikileaks website. The mention came in Cable #09PARIS933, entitled “France Open to Examining Six New Guantanamo Detainee Files”. The Cable was classifed as... Read more of this article
‘Tis The Season For Bermuda’s Rankin
A 46-year-old animated special made by Bermudian Arthur Rankin Jr. beat everything on US network television on Tuesday night [Nov 30].- CBS’ annual telecast of “Rudolph the Red-Nosed Reindeer’ attracted an estimated 11.9 million viewers according to Neilsen ratings, topping alll of primetime — including Fox’s phenomenally... Read more of this article
British Airways Flights Remain Grounded
British Airways regularly scheduled Bermuda flight remained grounded for a third day today [December 2] as heavy snows kept London’s Gatwick Airport closed. As a result of Gatwick’s ongoing closure, an empty jet BA dispatched to the island’s L.F. Wade International Airport on Wednesday so UK-bound passengers could reach London... Read more of this article
Police Statement on Man Briefly Escaping
[Updated] As Bernews initially reported yesterday [Dec 1], a man escaped custody during the afternoon, however was quickly caught by Police officers. The Police have officially confirmed the incident, saying that suspect was a 19-year-old Devonshire man, and that he “was being processed at Hamilton Police Station when the teenager allegedly assaulted... Read more of this article
St. George’s Celebrates 10 Year Anniversary
Today [Dec 2] St. George’s celebrates their ten year anniversary of being designated a World Heritage Site. The town of St. George’s was granted World Heritage status by UNESCO on December 2nd, 2000. Town Mayor Kenneth Bascome explains that St. George’s is the only World Heritage site that is a living community. All other designated... Read more of this article
