RSSCategory: Business

Somers Limited Share Repurchases For July

Somers Limited Share Repurchases For July

In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced their share repurchase programme. The filing stated: “Somers Limited [Somers], a financial services investment holding company, announces that during the month of July 2019, Somers purchased 2,500 of its own common shares at an average cost of $15.00 per share. The Shares... Read more of this article

AM Best Affirms Credit Ratings Of Ardellis

AM Best Affirms Credit Ratings Of Ardellis

AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Rating of “a-” of Ardellis Insurance Ltd. [Ardellis] [Bermuda]. The outlook of these Credit Ratings [ratings] is stable. The ratings agency said, “The ratings reflect Ardellis’ balance sheet strength, which AM Best categorizes as very strong,... Read more of this article

AXA XL Develops Insurance: Hoyos Hot Wallet

AXA XL Develops Insurance: Hoyos Hot Wallet

AXA XL, the Property & Casualty and Specialty Risk division of AXA, has developed an “innovative insurance solution for Hoyos Integrity Corporation to launch the world’s most secure digital “Hot” wallet.” “In doing so, AXA XL has designed a bespoke contractual liability insurance coverage specifically tailored for, and in... Read more of this article

Twenty Job Redundancies At Shield Security Ltd

Twenty Job Redundancies At Shield Security Ltd

BSG’s cash-in-transit business unit Shield Security Ltd. will wind down later this month as they launch a new service with a completely new business model, a decision which ”will impact 20 employees some full-time and some part-time,” the company has confirmed. The company said, “The Bermuda Security Group’s cash-in-transit [CIT]... Read more of this article

Shipping Schedule: Week Starting September 14

Shipping Schedule: Week Starting September 14

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday September 14th.On Saturday the Carnival Sunrise cruise ship is expected, on Sunday the Oleander container ship will arrive, and on Monday the Grandeur of the Seas and the Carnival Breeze cruise ships are scheduled to arrive. On... Read more of this article

AM Best Affirms Credit Ratings Of Essent

AM Best Affirms Credit Ratings Of Essent

AM Best has affirmed the Financial Strength Rating of A [Excellent] and a Long-Term Issuer Credit Rating of “a” of the operating subsidiaries of Essent Group Ltd., which are Essent Guaranty, Inc., Essent Guaranty of PA, Inc. [both domiciled in Radnor, PA] and Essent Reinsurance Ltd. [Bermuda] [collectively referred to as Essent]. The outlook of... Read more of this article

Bermuda Stock Exchange Report: Sept 13 2019

Bermuda Stock Exchange Report: Sept 13 2019

September 13 saw 33,212 shares trade on the Bermuda Stock Exchange, valued at $171,859.80 BD. 1,312 shares were traded by BF&M Ltd, closing up 1.1% at $17.90 per share, while another 1,000 shares were traded by Ascendant Group Limited, closing down 1.5% at $32.00 per share. 30,900 shares were traded by One Communications Ltd, closing up 1.3% at... Read more of this article

Sept 25: BEDC To Host “Balancing Act” Seminar

Sept 25: BEDC To Host “Balancing Act” Seminar

The Bermuda Economic Development Corporation [BEDC] will host Balancing Act, a seminar that will teach business owners and entrepreneurs about the importance of work/life balance on Wednesday, September 25th from 8.30am to 11.00am at The Royal Bermuda Yacht Club. A spokesperson said, “Hungry for success, entrepreneurs can often develop tunnel... Read more of this article

Tourism Minister Thanks Housekeeping Staff

Tourism Minister Thanks Housekeeping Staff

On Wednesday [Sept 11], the Minister of Tourism and Transport Zane DeSilva attended the Coco Reef Bermuda’s annual Housekeeping Appreciation Breakfast, held in recognition of International Housekeeping Week which runs from September 8 – 14. At the event, Minister DeSilva told the resort management and staff, “I thank each and every one of... Read more of this article

AM BestTV: Reinsurance Market Is Evolving

AM BestTV: Reinsurance Market Is Evolving

In this AM BestTV episode from the 2019 Les Rendez-Vous de Septembre conference in Monte Carlo, Monaco, reinsurers and related professionals say the reinsurance market is evolving as companies follow a broader, more diversified path.“How insurance-linked securities [ILS] has taken on an increasingly important role within the reinsurance industry... Read more of this article

Sompo & Willis Towers Watson Launch Platform

Sompo & Willis Towers Watson Launch Platform

Bermuda-based Sompo Global Risk Solutions [GRS] has “entered into a strategic partnership” with Willis Towers Watson to “create an integrated insurance platform to serve the needs of the middle market commercial real estate segment.” The company said, “Sompo GRS offers comprehensive multi-line capabilities targeted to accounts... Read more of this article

Bermuda Stock Exchange Report: Sept 12 2019

Bermuda Stock Exchange Report: Sept 12 2019

September 12 saw 6,200 shares trade on the Bermuda Stock Exchange, valued at $23,900.00 BD. 200 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.8% at $30.00 per share, while another 6,000 shares were traded by Argus Group Holdings Ltd, closing down 3.3% at $2.95 per share. The BSX finished at 2,075.74, up 0.45% on the day. There was... Read more of this article

Martha Dismont To Retire From Family Centre

Martha Dismont To Retire From Family Centre

[Updated] Family Centre today [Sept 12] announced that Martha Dismont, the organization’s Founder and Executive Director, has decided to retire effective June 2020. Dr. Sandy De Silva, current Director of Services, has been appointed as Executive Director Designate, to succeed Mrs. Dismont next year. A spokesperson said, “Originally from New... Read more of this article