Archive for December, 2010
Bermuda Firm On Sticky Wicket in UK
A Bermuda-domiciled firm is embroiled in a major sporting controversy in the United Kingdom after launching a legal challenge to block a proposed multi-million pound redevelopment of the legendary Old Trafford cricket grounds in Lancashire. The Lancashire County Cricket Club had hoped to complete the major upgrade in time to host one of the 2013 Ashes... Read more of this article
Deaths of Fred Smith & Taj Thompson
The Bermuda Police have named the two men who sadly passed away over the holiday period as 61 year old Fred Smith, and 20 year old Taj Thompson. Police confirm that there were no suspicious circumstances in either case. A Police spokesperson said “The Bermuda Police Service can now confirm the death of 61 year old Fred Smith. Mr. Smith’s lifeless... Read more of this article
New Tourism Board Members Named
Minister of Business Development and Tourism Patrice Minors this morning [Dec 30] announced the new members of the Bermuda Tourism Board, which include Chairman Malcolm Butterfield, Deputy Chairman Jonathan Crellin, Brian Duperrault, Wendell “Shine” Hayward, Kelly Francis, Tony Brannon, Quinton Bean, Vincent Ingham, Randolph Horton, and... Read more of this article
Senator With AIG Ties Escapes Censure
US Senator Chris Dodd, who received more than $280,000 in campaign contributions from re/insurance giant AIG and whose wife was appointed to the board of a Bermuda subsidiary of the firm, will leave office in January free from investigations or prosecution. The Connecticut Democrat’s controversial ties with AIG and its one-time Bermuda affiliate... Read more of this article
2009 Tourist Spending Declines by $75 Million
Tourist contributions to Bermuda’s economy declined by $75 million in 2009 compared to the previous year with visitors spending $350 million on the island according to figures released by the Statistics Department today [Dec. 30]. The year-over-year decline was reflected in all areas of the hospitality sector except for recreation and entertainment,... Read more of this article
Resisting Arrest, Assault & Offensive Words
Felicia Johnson, 23, appeared in Magistrates’ Court today [Dec 30] on a number of separate charges relating to an incident last night [Dec 29]. She was charged with assaulting an individual, damaging a cash register belonging to the Ice Queen restaurant, assaulting at least four police officers — read out as separate counts –resisting... Read more of this article
Lennon’s Bermuda-Inspired Salute To Women
Former Beatle John Lennon said when he was inspired to write “Woman” in Bermuda, he wanted to create not just a love song to his wife Yoko Ono but also as an anthem to the female presence in the world, “Rolling Stone” magazine reported this week (Dec. 23). Written in Bermuda during the summer of 1980, “Woman”... Read more of this article
New Model Could Lead To Price Changes
The new hurricane model being introduced by California-based Risk Management Solutions could lead to changes in Bermuda re/insurers’ price structure, a ratings agency specialist has said (Dec. 29). Taoufik Gharib, director and reinsurance specialist for S&P’s Rating Services in New York, told a recent industry conference the new RMS hurricane model being... Read more of this article
AmerInst’s Ratings Affirmed
Ratings agency A.M. Best Co. has today (Dec. 29) affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Bermuda-based AmerInst Insurance Group, Ltd . The outlook for both ratings is stable. The ratings reflect AmerInst’s strong capitalisation and its experienced management team as well as the company’s... Read more of this article
Pitt To Crash Land in Bermuda Triangle
Superstar Brad Pitt has signed on to play a World War Two pilot who flies through a dimensional portal located in the seas off Bermuda and crash lands in a parallel world in an upcoming movie adaptation of the new video game “Dark Void.” The game — one of the most popular home entertainment releases of 2010 – is set... Read more of this article
California Woman Arrested in Marvell Probe
A California woman has been arrested in a widening Wall Street insider trading investigation involving the Bermuda-domiciled Marvell Technology Group Inc. the US Justice Department announced this afternoon (Dec. 29). Winifred Jiau was arrested yesterday afternoon on charges relating to her involvement in the alleged scheme. Jiau has been charged with... Read more of this article
Earthquakes Accounted For Highest Losses
The earthquakes that devastated parts of Chile and New Zealand [pictured)]were the largest source of losses to Bermuda’s re/insurance sector in 2010, according to a new report by industry analyst Guy Carpenter. Specialising in catastrophe insurance coverage, the 23 major Bermuda-based re/insurance carriers funneled billions of dollars of property... Read more of this article
