RSSCategory: Business

BELCO Bird To Advise Kite Fliers On Safe Spots

BELCO Bird To Advise Kite Fliers On Safe Spots

The BELCO Bird will be touring some of Bermuda’s safe kite flying areas today [Apr 18], helping the public to stay safe as they enjoy the island’s traditional pastime this Good Friday. The BELCO Bird will be appearing at the following locations.11.00am – Royal Naval Field 12.00pm – Horseshoe Bay 1.30pm – St. David’s... Read more of this article

KPMG Advises On Butterfield’s Legis Acquisition

KPMG Advises On Butterfield’s Legis Acquisition

Butterfield’s acquisition of Legis Group’s Guernsey-based trust and corporate services business was supported by KPMG Advisory teams in Bermuda and Guernsey. KPMG Advisory provided corporate finance and due diligence services to Butterfield, leveraging KPMG’s global network and local presence to “full effect.” Charles Thresh, Managing... Read more of this article

Endurance Comment On Aspen’s “Poison Pill”

Endurance Comment On Aspen’s “Poison Pill”

A few days after rejecting a $3.2 billion takeover proposal from a fellow Bermuda-based re/insurer, Aspen Insurance Holdings Ltd said they adopted a shareholders rights plan which is “designed to deter abusive tactics from being used in a proposed takeover.” They resolved to issue one preferred share purchase right on each share of the... Read more of this article

Bermuda Stock Exchange Report: April 17 2014

Bermuda Stock Exchange Report: April 17 2014

Today [Apr 17] saw a volume of 1,500 shares trade on the Bermuda Stock Exchange, valued at $3,075.00 BD. All 1,500 shares were traded by Bank of N.T. Butterfield, which closed at $2.05 per share, up 3.0% on the day. The BSX closed at 1,445.19, up 2.0% yesterday’s close. There was 1 advance, 1 decline, and 71 remained unchanged. The full report... Read more of this article

ABIR Members Report $11.7 Billion Net Income

ABIR Members Report $11.7 Billion Net Income

The Association of Bermuda Insurers and Reinsurers [ABIR] today [Apr 17] released the 2013 global underwriting results for its member re/insurers. Eighteen of 21 member re/insurers participated in this 2013 report. The companies write insurance and reinsurance from underwriting centers in Bermuda, Europe, Asia, and North and South America. The 18 re/insurers... Read more of this article

New Bermuda Employment Website Launches

New Bermuda Employment Website Launches

A new website has launched that allows Bermuda residents to find employment more quickly and easily, benefiting both employers and job seekers in its features and usability. By using Watson.bm, those searching for employment on the website are able to upload their resume and navigate available positions by using criteria such as job title, job category,... Read more of this article

A.M. Best Affirms Ratings Of Montpelier Re

A.M. Best Affirms Ratings Of Montpelier Re

Rating agency A.M. Best has affirmed the financial strength rating of A [Excellent] and issuer credit ratings [ICR] of “a” of Montpelier Reinsurance Ltd. Additionally, A.M. Best has affirmed the ICR of “bbb” and debt ratings of the parent company, Montpelier Re Holdings Ltd. The outlook for all ratings is stable. Both companies are domiciled... Read more of this article

Lancashire Founder Richard Brindle To Retire

Lancashire Founder Richard Brindle To Retire

Lancashire Holdings Limited announced that Richard Brindle, the Group’s Chief Executive Officer since he founded the business in 2005, has notified the Board of his retirement from the Group and as a director with effect from the forthcoming AGM on 30th April 2014. Alex Maloney, currently the Group’s Chief Underwriting Officer and Chief... Read more of this article

Platinum Reports Net Income Of $63.7 Million

Platinum Reports Net Income Of $63.7 Million

Bermuda-based Platinum Underwriters Holdings, Ltd. reported net income of $63.7 million and diluted earnings per common share of $2.27 for the quarter ended March 31, 2014. The results for the quarter include net premiums earned of $126.3 million, net favorable development of $47.0 million and net investment income of $17.7 million. Michael D. Price,... Read more of this article

Allied World Opens Branch Office in Canada

Allied World Opens Branch Office in Canada

Allied World Assurance Company Holdings, AG will be opening a branch office in Toronto, Ontario to further expand its North American insurance operations. Gord Kerr has been appointed Senior Vice President, Chief Agent & Branch Manager for the region. President and Chief Executive Officer Scott Carmilani commented, “Opening an office in Canada... Read more of this article