RSSCategory: Business

Bermuda Stock Exchange Report: Apr 1 2015

Bermuda Stock Exchange Report: Apr 1 2015

Today [Apr 1] saw a volume of 31,229 shares trade on the Bermuda Stock Exchange, valued at $61,736.13 BD. All 31,229 shares were traded by Bank of N.T. Butterfield Limited, closing down 0.5% at $1.97 per share. The BSX closed at 1,341.66, down 0.35% even on the day. There was 1 advance, 1 decline, and 69 remained unchanged. The full report from the... Read more of this article

Stephan Ruoff Named New Tokio Re CEO

Stephan Ruoff Named New Tokio Re CEO

Stephan Ruoff is assuming the role as Chief Executive Officer of Tokio Millennium Re AG [TMR], a subsidiary of Tokio Marine & Nichido Fire Insurance Co. Ltd. Mr. Ruoff has worked with TMR, a global multi-line reinsurer fully backed by the Tokio Marine Group, since 2011 when he joined as Chief Executive Officer of the Zurich branch. He was appointed... Read more of this article

AM Best: Endurance Ratings Remain Unchanged

AM Best: Endurance Ratings Remain Unchanged

A.M. Best has commented that the financial strength rating [FSR] of A [Excellent] and the issuer credit ratings [ICR] of “a” of Endurance Specialty Insurance Ltd. and its affiliates remain unchanged following the announcement of the plans to acquire Montpelier Re Holdings Ltd. Concurrently, A.M. Best has commented that the ICR of “bbb” and... Read more of this article

Hamilton Completes Acquisition of Sportscover

Hamilton Completes Acquisition of Sportscover

Hamilton Insurance Group, the Bermuda-based holding company for insurance and reinsurance operations in Bermuda and the US, has completed the acquisition of Sportscover Underwriting Limited, a Lloyd’s managing agent which manages Syndicate 3334, and Kinetic Insurance Brokers Limited, a Lloyd’s insurance broker. Former CEO of Torus’ International... Read more of this article

Appleby Advised Montpelier For Acquisition

Appleby Advised Montpelier For Acquisition

 Appleby acted as counsel to Montpelier Re Holdings Ltd. in relation to its sale to the Endurance Speciality group for a purchase price to be satisfied by a mixture of shares and cash which values Montpelier at c.USD1.83bn and structured by way of merger with an Endurance subsidiary. Under the terms of the agreement, Montpelier shareholders will... Read more of this article

Northern Offshore Negotiated Delay of Deliveries

Northern Offshore Negotiated Delay of Deliveries

Northern Offshore, Ltd. has negotiated a nine month delay in the deliveries of its high specification jackups, Energy Engager and Energy Encounter from a shipyard in China. The new delivery dates for these units are December 2016 and June 2017 respectively. President and CEO Gary Casswell commented “We sincerely appreciate the cooperation of our... Read more of this article

Catlin Completes Sale Of Investment In BIGL

Catlin Completes Sale Of Investment In BIGL

Bermuda-based Catlin Group Limited announced that its subsidiary, Catlin Insurance Company Ltd. [CICL], has completed the sale of its investment in Box Innovation Group Limited [BIGL] to Aioi Nissay Dowa Insurance Company of Europe Limited [Aioi]. Under the sale agreement announced on 22 December 2014, Aioi has acquired shares from CICL as well as... Read more of this article

Bermuda Stock Exchange Report: Mar 31 2015

Bermuda Stock Exchange Report: Mar 31 2015

Today [Mar 31] saw a volume of 21,517 shares trade on the Bermuda Stock Exchange, valued at $42,620.15 BD. 21,500 shares were traded by Bank of N.T. Butterfield Limited, closing up 0.5% at $1.98 per share, while the other 17 shares were traded by KeyTech Ltd, closing at an even $3.00 per share. The BSX closed at 1,346.38, up 0.35% even on the day. There... Read more of this article

S&P Upgrades International General Insurance

S&P Upgrades International General Insurance

Standard & Poor’s Ratings Services [S&P] has upgraded the financial strength ratings for International General Insurance Company Ltd [IGI] to “A-” with a stable outlook. The new rating, which was announced on March 31, 2015, raises the rating to A- from BBB+ the counterparty credit and financial strength ratings. This rating applies to... Read more of this article

‘Bermuda’s Friendliness & Culture Is Commodity’

‘Bermuda’s Friendliness & Culture Is Commodity’

[Updated] “Bermuda’s genuine friendliness and rich culture is a locally-sourced commodity as exportable as oil, coal or diamonds,” Bermuda Tourism Authority CEO Bill Hanbury said at today’s [Mar 31] Hospitality Month launch on the steps of City Hall. Throughout April, Hospitality Month will focus on all aspects of Bermuda’s hospitality... Read more of this article


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