Archive for December 8th, 2010
Two Accidents Send Three to Hospital
Three motorcyclists were taken to King Edward VII Memorial Hospital via ambulance yesterday [Dec 7] following two separate accidents that occurred in Paget. Around 9:25pm last night two cycles collided on Trimingham Road in Paget. The two riders, a 19 year old Smith’s parish man and a 22 year old Paget woman were injured and taken to hospital via... Read more of this article
When Santa Came To Bermuda By Plane
When Santa Claus delivered presents and Christmas cheer to the families of Bermuda’s lighthouse keepers in the 1950s, he didn’t arrive in a flying sleigh pulled across the heavens by reindeers – he came by aircraft. The endearing tradition of the New England Flying Santas, started in 1929 by a Maine seaplane pilot as a gesture... Read more of this article
BNY Trade’s Ratings Upgraded
Ratings agency A. M. Best has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and issuer credit rating to A from A- of Bermuda-based BNY Trade Insurance Ltd. The outlook for both ratings has been revised to stable from positive. The ratings reflect BNY Trade’s strong capitalisation, consistently positive operating results,... Read more of this article
Reinsurers Divided On Way Forward
Reinsurers on either side of the Atlantic are divided over what business strategy is best following the global recession, Reuter news agency reports today (Dec.8). Reuter said a report by consultancy firm PWC shows European reinsurers are overhauling their business models while counterparts in Bermuda and the US are keeping to their pre-crisis business... Read more of this article
Catlin Launches Swiss Subsidiary
Bermuda-based Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced today (Dec. 8) that Catlin Re Switzerland Ltd. has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a reinsurance company. Catlin Re Switzerland will be capitalised with approximately $1.1... Read more of this article
Gerova to Buy Seymour Pierce
Gerova Financial Group Ltd. said today [Dec 7] it will acquire Seymour Piece Holdings Ltd. and take the London-based investment bank’s name. Upon completion of the acquisition, which has been unanimously approved by Gerova’s Board of Directors, Gerova will change its name to Seymour Pierce & Company Ltd. Gerova has also entered into... Read more of this article
Video: Crew Aboard Wooden Boat Rescued
[Updated] Yesterday afternoon [Dec 7] the US Coast Guard rescued two men aboard an 88 foot wooden boat headed to Bermuda, making it the third time the Coast Guard has come to the boat’s aid following rescues in 2004 and 2006. The home built vessel was 100 miles southeast of Nantucket, Mass., when it became disabled. The owner contacted the Coast... Read more of this article
