Archive for December 29th, 2010
AmerInst’s Ratings Affirmed
Ratings agency A.M. Best Co. has today (Dec. 29) affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Bermuda-based AmerInst Insurance Group, Ltd . The outlook for both ratings is stable. The ratings reflect AmerInst’s strong capitalisation and its experienced management team as well as the company’s... Read more of this article
Pitt To Crash Land in Bermuda Triangle
Superstar Brad Pitt has signed on to play a World War Two pilot who flies through a dimensional portal located in the seas off Bermuda and crash lands in a parallel world in an upcoming movie adaptation of the new video game “Dark Void.” The game — one of the most popular home entertainment releases of 2010 – is set... Read more of this article
California Woman Arrested in Marvell Probe
A California woman has been arrested in a widening Wall Street insider trading investigation involving the Bermuda-domiciled Marvell Technology Group Inc. the US Justice Department announced this afternoon (Dec. 29). Winifred Jiau was arrested yesterday afternoon on charges relating to her involvement in the alleged scheme. Jiau has been charged with... Read more of this article
Earthquakes Accounted For Highest Losses
The earthquakes that devastated parts of Chile and New Zealand [pictured)]were the largest source of losses to Bermuda’s re/insurance sector in 2010, according to a new report by industry analyst Guy Carpenter. Specialising in catastrophe insurance coverage, the 23 major Bermuda-based re/insurance carriers funneled billions of dollars of property... Read more of this article
Tucker’s Point: One of the Hideaways of Year
Tucker’s Point Hotel has been named as one of the 2011 Andrew Harper Grand Award Winners in the Hideaway of the Year category. Andrew Harper is the pseudonym of a writer who, frustrated by “commercially driven travel coverage”, began writing his own candid reviews of unique hotels. According to Forbes: “The popular newsletter’s... Read more of this article
2010 Edition Bermuda Facts & Figures
The Department of Statistics today [Dec 29] released the 2010 edition of the Bermuda Facts and Figures pamphlet that contains an array of statistical data and information pertaining to Bermuda’s economy. The pamphlet also highlights social, economic and geographic comparative data for the past 3 years from 2007 to 2009 and provides historical notes... Read more of this article
Real “Bermuda Triangle”
Plastic and other garbage from the North American mainland being drawn into a recently identified vortex near the island isn’t accumulating in the amounts scientists had feared — leading researchers to label the North Atlantic gyre a real Bermuda Triangle where trash seemingly disappears. The existence of an Atlantic “Garbage Patch”... Read more of this article
Sailors Named as Carlos Rogers & Kwesi Hollis
Officials have named the men aboard the missing yacht as 41 year old Carlos Rogers and 36 year old Kwesi Hollis. Both men are Bermudians. The U.K. registered sailing vessel ‘Carefree IV’ was last sighted approximately 210 nautical miles South Southwest of Bermuda on the 18th December, when they alerted a passing merchant vessel to their plight for... Read more of this article
ACE Acquisition of Rain and Hail Insurance
The Board of ACE Limited announced today that it has completed its acquisition of Rain and Hail Insurance Service, Inc. for approximately $1.1 billion in cash. The purchase price reflects a dollar- for-dollar adjustment as required under the merger agreement to account for an increase to Rain and Hail’s book value that occurred between December 31,... Read more of this article
White’s Island Converted to Juvenile Prison?
The Voters’ Rights Association has released a statement asking if White’s Island will be converted to a juvenile prison. The statement from the VRA, which is co-chaired by Geoff Parker and Stuart Hayward, follows in full below: The VRA understands that individuals and organisations that have boat moorings close to White’s Island in Hamilton... Read more of this article
Two Accidents, Two DUI Arrests
A 31-year-old female was arrested on suspicion of impaired driving after crashing her car into a wall early yesterday [Dec 28] morning, and a 31-year-old man was arrested after his car struck a tree yesterday evening. A Police spokesman said that “Around 3:50am on Tuesday Police attended a report of a single vehicle road traffic collision resulting... Read more of this article
New CFO For Ship Finance International
Eirik Eide has been appointed as chief financial officer for Bermuda-based Ship Finance Management AS`, the Par-La-Ville Road company announced today [Dec. 29]. He is 40 years old and currently serves as head of corporate finance and head of shipping investments in Orkla Finans Kapitalforvaltning AS. Mr. Eide will take up his new position in January... Read more of this article
