Archive for February 11th, 2011

Bernews: Moving Servers Overnight [Success!]

[Updated] Just a quick notice to our readers that overnight we will be moving Bernews to a new server. This upgrade will enable the website to run faster and more efficiently. Readers logging on overnight may experience errors or downtime, and we will also disable comments overnight due to technical reasons. We apologize to “night owl” Bernews... Read more of this article

Cricket: Bermuda U/19 Lose to USA

The Bermuda Under/19 National Cricket Squad lost to the USA, going down by 10 wickets. They had previously beaten both the Bahamas and Cayman Islands, and had lost the Canada. This loss means the team will not advance. USA won the toss and has elected to field as Bermuda play their fourth match of the Pepsi ICC Americas Region Under 19 Americas Division... Read more of this article

Minister Promotes Dental Health Awareness

Earlier this week the Minister of Health Zane DeSilva ‘brushed up’ on his dental health practices during a visit to the Hamilton Health Center’s Dental Section, in a bid to promote February as Dental Health Awareness Month. “I am encouraged by the recent findings of the “Health In Review” report, released last month, which state that Bermuda’s... Read more of this article

Catlin Group Produces ‘Good Results’

Bermuda based Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced its financial results for the year ended 31 December 2010. Catlin Group reported a $406 million in profit before tax in the year to end — down from $603 million in December, 2009 – with a 16% return on net tangible assets. There... Read more of this article

Bank Shareholders To Profit From Sale

The Bank of N.T. Butterfield & Son Limited today [Feb.11] announced it has agreed to sell its minority ownership position in Butterfield Fulcrum to a new company founded by fund industry executives Tim Calveley and Glenn Henderson and private equity firm, BV Investment Partners. Butterfield Fulcrum will operate as a subsidiary of the new company. Proceeds... Read more of this article

CEO Cash: ‘Strong Year For Endurance’

Endurance Specialty Holdings Ltd. yesterday [Feb.9] reported net income of $111.2 million and $2.09 per diluted common share for the fourth quarter of 2010 versus net income of $154.8 million and $2.56 per diluted common share for the fourth quarter of 2009. Based out of Wellesley House on Pitts Bay Road, Endurance Specialty Holdings Ltd. is a global... Read more of this article

Drug Importation: Three Charged in Court

This morning [Feb 11] in Magistrates Court three former post office workers appeared on charges of importing illegal drugs. 31 year old Hopde Burrows, 58 year old Anthony Rogers and the lone female 28 year old Michaelia Selvin were all charged with conspiring with others not before the court to import cannabis between an unknown date and February 19,2010. Mr... Read more of this article

Azorean Government Donates Books, CDs, DVDs

The Bermuda National Library this week received a donation of Portuguese language books, CD’s and DVD’s with Azorean music from the Government of the Azores presented by Mr. Eddy De Mello to the Minister of Public Information Services Neletha Butterfield at a ceremony held at the Adult Library on Queen Street in Hamilton. Pictured below from left... Read more of this article

Day #3: Bus Strike to End at Noon Today

[Updated - Video of Minister Lister's statement added] Government this morning [Feb 11] confirmed that the industrial action taken by bus drivers will continue for the third day, and that an 11am meeting for PTB employees and Marine & Ports ferry operators will result in disruptions to ferry services. It is unclear at this time what the level of... Read more of this article

Sweeping Changes At Troubled Gerova

Gerova Financial Group, Ltd., a diversified Bermuda financial services company, today [Feb. 11] announced a sweeping reorganisation of the board of directors and the management of Gerova. The company has accepted the resignation of four of the members of its board of directors, including Joseph J. Bianco, Keith Laslop, Arie Bos and Leonard de Waal. In... Read more of this article

Flora Duffy Gets Sponsorship Deal

Top local athlete Flora Duffy has received a huge boost this week as she has signed a contract to ride bicycles and equipment made by one of the worlds largest bicycle manufacturers – Specialized Bicycle Components. As part of the deal Ms Duffy will receive two complete bicycles as well as shoes, helmets and clothing. The bicycles will be updated... Read more of this article

Validus Profit Hit By Australian Floods

Bermuda-based Validus Holdings, Ltd. yesterday [Feb. 10] reported net income of $102.7 million, or $0.92 per diluted common share for the three months ended December 31, 2010, compared with net income of $165.8 million, or $1.23 per diluted common share, for the three months ended December 31, 2009. Net income for the year ended December 31, 2010 was... Read more of this article