RSSCategory: Business

RenRe To Acquire Platinum For $1.9 Billion

RenRe To Acquire Platinum For $1.9 Billion

RenaissanceRe Holdings and Platinum Underwriters Holdings confirmed that RenaissanceRe will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction expected to close in the first half of 2015. The aggregate consideration for the transaction between the two Bermuda-based re/insurers will consist of 7.5 million RenaissanceRe... Read more of this article

ConvergEx Group Subsidiary To Pay $26 Million

ConvergEx Group Subsidiary To Pay $26 Million

A brokerage subsidiary of ConvergEx Group LLC was sentenced and ordered to pay a criminal penalty and restitution of $26 million for wire fraud and conspiracy to commit securities and wire fraud in connection with a scheme to charge clients millions of dollars in unwarranted and hidden fees, a statement from the FBI said. “CGM Limited, a subsidiary... Read more of this article

Appleby: Year On Track To Be Good Showing

Appleby: Year On Track To Be Good Showing

Despite a dip in the value and volume of offshore deals in the third quarter of 2014, the year as a whole is on track to be among the best showings for offshore M&A in the past decade, according to a report released by Appleby. “In Bermuda, deal value and volume both experienced modest increases when compared with the previous quarter, while... Read more of this article

PwC To Host Careers Reception For Parents

PwC To Host Careers Reception For Parents

PwC Bermuda is hosting a careers reception for parents and educators on Tuesday, November 25 from 5:30pm to 7:30pm at the Royal Bermuda Yacht Club. Parents and educators are invited to learn more about the opportunities for a rewarding and challenging professional services career at PwC Bermuda – available through the firm’s HeadStart initiative. They... Read more of this article

Report: Bermuda “Refuses” Cameron Request

Report: Bermuda “Refuses” Cameron Request

“David Cameron’s campaign to destroy the ‘cloak of secrecy’ around the ownership of offshore companies has been snubbed by the richest and most important of the UK’s overseas territories,” a report from the UK’s Independent claims. Their report said, “Bermuda boasts of being the ‘risk capital of the world’... Read more of this article

AM Best Affirms Global Atlantic Ratings

AM Best Affirms Global Atlantic Ratings

Rating Company A.M. Best has affirmed the financial strength rating [FSR] of A- [Excellent] and the issuer credit ratings [ICR] of “a-” of the life insurance subsidiaries of Global Atlantic Financial Group Limited [Global Atlantic] [Hamilton, Bermuda]. Concurrently, A.M. Best has affirmed the ICR of “bbb-”and the debt rating on $150... Read more of this article

Bermuda Stock Exchange Report: Nov 21 2014

Bermuda Stock Exchange Report: Nov 21 2014

Today [Nov 21] saw the close of the BSX’s week finish with 11,188 shares traded on the day, valued at $22,264.12 BD. All 11,188 shares were traded by Bank of N.T. Butterfield Ltd, closing down 0.5% at $1.99 per share. The BSX finished the week at 1,378.76, down 0.34% on the day. There were 0 advances, 1 decline, and 73 remained unchanged heading... Read more of this article

Home-Grown Event To Highlight Local Goods

Home-Grown Event To Highlight Local Goods

Home-Grown Alternatives 2014 is getting set for a November 22 event, with a collaborative shopping experience aimed at providing goods with a focus on quality Bermuda-made arts and crafts. The shopping event will be held from 10.00am through 4.00pm at the St. Paul’s Christian Education Center in Paget. The event will feature works from a number... Read more of this article

China Re Receives Approval From Lloyd’s

China Re Receives Approval From Lloyd’s

China Reinsurance [Group] Corporation has received approval from Lloyd’s to transform its existing special purpose syndicate into a stand-alone syndicate that will underwrite a diversified book of business, initially focussing on reinsurance, incepting from 1 January 2015. The China Re Syndicate [Syndicate 2088] will be managed by Catlin Underwriting... Read more of this article

“Exclusive Home” Ribbon Cutting On Saturday

“Exclusive Home” Ribbon Cutting On Saturday

Exclusive Home will be having a ribbon cutting on Saturday [Nov 22] at 10:00am, and Premier Michael Dunkley is set to be in attendance and cut the ribbon to officially open the store.. “Exclusive Home is located at 75 Reid Street, Hamilton, and sells Home décor and furniture, featuring a rustic meets modern look. The store offers everything from... Read more of this article