Archive for May 24th, 2011
Delegation Returns From Hurricane Prep Meeting
Deputy Governor David Arkley recently returned from a three day seminar in Miami where representatives of the British Caribbean Overseas Territories and Bermuda met to discuss preparations for the forthcoming hurricane season. For the 2011 Atlantic Hurricane season, which begins June 1, NOAA is predicting 12 to 18 named storms, of which 6 to 10 could... Read more of this article
High Stakes On The High Seas In Yacht Race
As of the mid-afternoon position update today [May 24], it was evident the lead boat in the Charleston Bermuda race — the Hofford-Ford team on board the Shipman 63 “Tucana” – was making a move to distance itself from race rival “Spirit of Juno” [pictured], the OnDeck Farr 65 under charter to the self-acclaimed... Read more of this article
Shooting Victims Remain Hospitalized
Both shooting victims from yesterday [May 23] remain hospitalized, and are both listed as stable this evening. The Police said that at around 12:30pm yesterday, two men wearing dark clothing and riding on a dark motorcycle drove from the direction of Cedar Park onto Frog Lane, where they drove behind the two victims who were also traveling on a motorcycle. Both... Read more of this article
Business Bermuda Attends UK Fund Conference
Business Bermuda represented Bermuda’s fund industry at the Hedge Fund Redomiciliation conference for Managers & Funds today [May 24] in London. For the first time Business Bermuda attended the day-long event to talk about the impact of the Alternative Investment Fund Managers Directive [AIFMD] on non-EU, offshore jurisdictions. Bermuda has levels... Read more of this article
EQECAT: Re/Insurers ‘Face Record Losses’
Bermuda re/insurers are bracing for record losses this year as the global industry contends with devastating tornadoes, floods, earthquakes and what’s feared will be an active Atlantic hurricane season. The Reuter news agency reports today [May 24] global re/insurers could suffer as much as $10 billion from weather-related losses in the United... Read more of this article
Axis Speciality Ltd. Gets Florida Approval
Florida’s Office of Insurance Regulation has approved Bermuda re/insurer Axis Speciality Ltd. to post reduced collateral and operate in Florida as an eligible reinsurer. This approval makes Axis the 13th Bermuda reinsurer authorised to do business in Florida with similar terms.. In September 2008 Florida’s Cabinet approved a rule based... Read more of this article
XL Group CFO Irene Esteves Is Leaving Firm
XL Group, which maintains its executive offices in Bermuda, announced today [May 24[ that Irene M. Esteves will be leaving the company following a transition period to pursue an opportunity with a Fortune 150 Company outside the insurance industry. XL will initiate a search for M. Esteves’ replacement. Mike McGavick, CEO of XL, stated, “Irene... Read more of this article
Webcast & Live Blog: May 24th Races & Parade
[Updated] The May 24th Holiday is winding down, with the Marathon, Sinclair Packwood Memorial Cycle Race, Dinghy Races and Bermuda Day Parade all complete. Below there are links to our live coverage from the day, with much more to come this evening. Update May 25: 150 photos of parade added here, and over 30 videos added on Bernews TV. Update 7:20pm:... Read more of this article
Video & Results: May 24th Fitted Dinghy Races
Bermuda Day is the traditional opening day of the Fitted Dinghy season. The 2011 Bermuda Fitted Dinghy Racing Season got underway in the St George’s Harbor, Contest III with Somers Kempe at the Helm won all three races on the day taking the Heritage Trophy, Anniversary and Leon D. Fox Cup’s. In the first race of the day the Heritage Trophy... Read more of this article
John A. Davis To Join Endurance Speciality
Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, today [May 24] announced that John A. Davis has joined Endurance Worldwide Reinsurance as senior vice president and manager of the US Treaty Casualty and Workers’ Compensation business unit. Mr. Davis has held a number of... Read more of this article
Photos: ‘Stand Up Bermuda’ May 24th Float
[Updated with video] The newly formed Stand Up Bermuda group entered a float in today’s [May 24] Bermuda Day parade which displayed the names of the island’s murder victims from recent years, and garnered a third place award in the Best Community/Volunteer/Political Division of the Bermuda Day Float contest. Members of Stand Up Bermuda... Read more of this article
Full Results: 2011 Bermuda Day Marathon Derby
Almost 700 people completed this morning’s [May 24] Bermuda Day Marathon Derby, making the trek from Somerset to Hamilton in front of the throngs of spectators who lined the streets. Chris Estwanik won his fourth consecutive Bermuda Day Half Marathon Derby crossing the line in 1:08.26, while Deon Breary claimed her first ever women’s title. Full... Read more of this article
