Hashtag: #BermudaBusiness

‘Additional Yield Of Approximately $147 Million’

‘Additional Yield Of Approximately $147 Million’

If the tax policy recommendations in the Tax Reform Commission’s report are implemented, an “additional yield of approximately $147 million could be generated over a 2-3-year period,” the report said. The Tax Reform Commission’s Report was tabled in the House of Assembly on Friday, and the Government said they will “closely... Read more of this article

Photos & Video: Farmer’s Market Opening Day

Photos & Video: Farmer’s Market Opening Day

[Updated with photos] The Bermuda Farmer’s Market opened at the Bermuda Botanical Gardens today [Nov 17], with a wide variety of goods available for purchase, with the event offering local farmers, fishermen, gardeners and artisans a venue to sell produce, plants and locally-made crafts directly to residents and visitors. We will have additional information... Read more of this article

Shipping Schedule: Week Starting November 17

Shipping Schedule: Week Starting November 17

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday November 17th.On Saturday the Peter Faber cable layer ship is expected, and on Monday the Oleander container ship will arrive. On Wednesday the Somers Isles container ship is scheduled to arrive, and on Thursday the Bermuda... Read more of this article

AM Best Downgrades Maiden Credit Ratings

AM Best Downgrades Maiden Credit Ratings

A.M. Best has downgraded the Long-Term Issuer Credit Rating [Long-Term ICR] to “bb” from “bbb-” of Maiden Holdings, Ltd. and its downstream intermediate holding company, Maiden Holdings North America, Ltd. All Long-Term Issue Credit Ratings [Long-Term IR] of MHLD and MHNA also have been downgraded. At the same time, A.M. Best has downgraded... Read more of this article

Bermuda Stock Exchange Report: Nov 16 2018

Bermuda Stock Exchange Report: Nov 16 2018

November 16 saw 4,500 shares trade on the Bermuda Stock Exchange, valued at $48,560.00 BD. 2,000 shares were traded by Argus Group Holdings Ltd, closing down 0.1% at $3.50 per share, while another 1,500 shares were traded by Ascendant Group Limited, closing even at $17.00 per share. 1,000 shares were traded by BF&M Ltd, closing down 2.1% at $16.06... Read more of this article

Tourism Minister On Vacation Rentals Tax Relief

Tourism Minister On Vacation Rentals Tax Relief

Speaking in the House of Assembly today [Nov 16], Minister of Tourism and Transport Zane DeSilva provided information on the “reasons this Government will seek to amend the Tourism Investment Act to implement a fair and equitable approach to the provision of tax relief on all vacation properties.” “This Government is committed to... Read more of this article

Digicel & BTC Staff Recognized For Long Service

Digicel & BTC Staff Recognized For Long Service

At their recently held annual Long Service Award ceremony, Digicel & BTC recognized the contributions of their long serving staff. At the breakfast event, 22 staff were recognized for their achievements with a combined total of 485 years of service between them. 30 years: [L-R] Michael Dyer, Blaine Tucker, Frank Ming, Steven Burgess & Kirk DillThis... Read more of this article

Markel Completes Nephila Holdings Acquisition

Markel Completes Nephila Holdings Acquisition

Markel Corporation announced that it has completed its acquisition of Nephila Holdings Limited, a leading investment manager specializing in reinsurance risk. Richie Whitt, Markel’s Co-Chief Executive Officer, commented, “With a proven 20-year track record of success, Frank Majors and Greg Hagood have built the industry’s pre-eminent... Read more of this article

Diamonds International Fundraising Shopping

Diamonds International Fundraising Shopping

Diamonds International has announced that it will be hosting a number of private fundraising and corporate shopping nights in the upcoming months; Diamonds & Ice Holiday Soiree, the first of the shopping series, will take place on Tuesday, November 20 at the Diamonds International flag ship store in the Royal Naval Dockyard. A spokesperson said,... Read more of this article

PartnerRe Reports Q3 & Nine Month Results

PartnerRe Reports Q3 & Nine Month Results

Bermuda-based PartnerRe Ltd. reported a net loss attributable to common shareholder of $106 million for the quarter, which includes net unrealized investment losses on fixed income securities of $53 million and net foreign exchange losses of $17 million. This compared to a net loss of $84 million for the same period of 2017, which included net unrealized... Read more of this article

Bermuda Stock Exchange Report: Nov 15 2018

Bermuda Stock Exchange Report: Nov 15 2018

November 15 saw 0 shares trade on the Bermuda Stock Exchange. The BSX finished at 2,377.25, even on the day. There were 0 advances, 0 declines, and 59 remained unchanged. The full report for the day is available here [PDF]. Related StoriesNasdaq & BSX Market Technology Agreement Guide For Investors In Bermuda Stock Market BSX Launches... Read more of this article

Hiscox Confirms Appointments Within Re & ILS

Hiscox Confirms Appointments Within Re & ILS

Hiscox today confirmed three new appointments within Hiscox Re & ILS; two internal appointments and one external hire. “Mike Schindel has been appointed Head of North America. Mike has been with Hiscox since 2009, beginning his career within the operations team before transitioning to a leadership role in the International underwriting team,”... Read more of this article

Insurtech Startups To Pitch New Digital Tools

Insurtech Startups To Pitch New Digital Tools

Hamilton Insurance Group, the Bermuda-based property and casualty insurance and reinsurance company with operations in Bermuda and at Lloyd’s, today announced the lineup of insurtech startups that will pitch their new digital tools at the GR Innovation & Insurtech conference on November 19 at Rosewood Bermuda. Hamilton Re CEO Kathleen Reardon... Read more of this article