Archive for February 25th, 2011

Ticonderoga Breaks Off Gerova Talks

Broker-dealer Ticonderoga Securities said today [Feb. 25] it has ended merger talks with reinsurer Gerova Financial following the suspension in trading of the Bermuda reinsurer’ stock by the New York Stock Exchange. Earlir this week the NYSE halted trading in Gerova shares saying it was evaluating the need for further disclosures and the suitability... Read more of this article

Ministerial Statements: Education Budget

Today [Feb. 25] in the House of Assembly, Minister of Education Dame Jennifer Smith spoke in reference to the budget allocated to the Ministry of Education. Comparing 2010 to 2011, the Education Ministry’s budget has been reduced from $143.1 to $128.2 million. Dame Jennifer said: “Bermuda spends more per capita on Education than many of... Read more of this article

Bermuda On Agenda At AIFA Conference

The state of the island’s re/insurance sector will be discussed in Florida on Monday [Feb.28] when some of the leading Bermuda industry players participate in a forum at the Association of Insurance & Financial Analysts [AIFA] 36th Annual Conference in Naples. The Bermuda panel is expected to feature Endurance chief actuary and CRO Make Angelina,... Read more of this article

Update: Bermuda Bowlers in Malaysia

Three of Bermuda’s top bowlers are presently in Malaysia competing in the Commonwealth Bowling Championships. Damien Matthews, Patrice Tucker and June Dill are competing against bowlers from over a dozen Commonwealth countries such as England, Australia and India. Damien Matthews is currently 23rd overall in the Men’s Division of the V Commonwealth... Read more of this article

“Dangerously Prolific” Bike Thief Jailed

Now 43-years-old, with his first conviction in 1982 when he was 14, admitted serial bike stealer Kevin Howard this morning [Feb 25] pleaded guilty in Magistrates Court to yet two more charges of stealing bikes. The DPP Prosecutor gave the information that a cycle reported as stolen on the 9th February 2011 was found, two days later on 11th February,... Read more of this article

Live Webcast: UBP Budget Press Conference

[Finished] Follow along live as Shadow Minister of Finance Bob Richards, flanked by fellow UBP MPs, hosts a press conference this afternoon [Feb. 25]. Earlier today, Mr Richard’s delivered Opposition’s reply to the 2011/12 Budget in the House of Assembly. With Mr Richards at the press conference is UBP Leader Kim.Swan, MP John Barritt,... Read more of this article

Attempted Burglary: 18-Yr-Old Arrested

An 18-year-old St George’s man was arrested in connection with an attempted burglary at a Hamilton parish residence yesterday [Feb. 24]. A Police spokesman said: “At 9:45am on Thursday, Police attended a reported attempted burglary at an Old Road, Hamilton parish residence. It appears that earlier that day an unknown man attempted to gain... Read more of this article

White Mountains Declares Share Dividend

At its regular meeting held yesterday [Feb. 24] the board of directors of Bermuda-domiciled White Mountains Insurance Group, Ltd. declared a $1.00 per share annual dividend, payable in cash on March 30, 2011, to holders of record of common shares as of the close of business on March 21, 2011. White Mountains is a financial services holding company... Read more of this article

Photos: Bermuda Police Passing Out Parade

Yesterday afternoon [Feb 25] the Passing Out Parade for Recruit Foundation Course #73 took place at Police Headquarters in Prospect, Devonshire. In attendance at the ceremony were several dignitaries including: Acting Governor Mr. David Arkley, Acting Minister of National Security Walter Roban, Attorney General & Minister of Justice Michael Scott,... Read more of this article

Aspen Insurance Files With SEC

Aspen Insurance Holdings Limited — a Bermuda holding company – today [Feb.25] filed its 2010 Annual Report on Form 10-K with the US Securities & Exchange Commission. The document is on the company’s website under the Investor Relations section as well as on the SEC’s website. Printed copies of the company’s complete audited... Read more of this article

HSBC Holdings Makes Boardroom Changes

Bermuda Stock Exchange-listed HSBC Holdings Limited — the world’s sixth-largest banking and financial services group — has made a regulatory announcement to the market regarding changes of directors to the board of the company. Laura May Lung Cha has been appointed a director of HSBC Holdings plc with effect from 1 March 2011. She... Read more of this article

UBP Bob Richards’s Budget Reply

This morning [Feb 25] in the House of Assembly Shadow Minister of Finance Bob Richards is delivering the reply to the 2011/12 Budget. Mr Richard’s started off by saying: “Mr. Speaker, my colleagues and I had hoped to come to this Honourable House this morning in support of a Government Budget that had set the country on a path to economic... Read more of this article