Archive for February 24th, 2011
Primus Revenues, Profits Drop
Bermuda-based Primus Guaranty, Ltd. today announced its financial results for the fourth quarter and full year ended December 31, 2010. Primus Guaranty, Ltd. is a Bermuda company with offices in New York. Through its subsidiary, Primus Financial Products, LLC, the company provides protection against the risk of default on primarily investment grade... Read more of this article
Court Appearance For Vodka Theft
39 years old and a self-confessed recovering drug addict, Devon Foggo first pleaded not guilty then changed his plea to guilty as he faced Magistrate Juan Wolffe in Magistrates Court this morning [Feb 24]. Initially, Mr Foggo was appearing because he had failed to comply with an earlier Court order requiring Court Services to provide a Social Inquiry... Read more of this article
Green Tourism Conference Adds To Roster
The Caribbean Tourism Organisation announced today [Feb. 24] the addition of Canadian travel expert Jacqueline Kuehnel to its roster of speakers at the 12th Annual Caribbean Conference on Sustainable Tourism Development (STC-12), taking place in Bermuda from April 3-6. Ms Kuehnel, known for her work in responsible travel and tourism, will address... Read more of this article
Marsh Offices Destroyed In NZ Earthquake
The Christchurch office of Marsh — a unit of Marsh & McLennan Companies [MMC] headed by Bermudian Brian Duperreault– collapsed as a result of the 6. 3 magnitude earthquake that struck the South Island of New Zealand on Tuesday [Feb. 22] Marsh is tenanted at the Pyne Gould building in downtown Christchurch. Pacific Region Head of Marsh... Read more of this article
Northern Offshore ‘Pleased’ With Results
Northern Offshore, Ltd. — a Bermuda holding company which operates offshore oil and gas production and drilling vessels in various markets around the world — today [Feb.24] reported that the financial results for the current quarter included an after-tax, non-cash charge of $205.4 million, or $1.32 per diluted share, due to a valuation impairment... Read more of this article
NYSE Suspends Trading In Troubled Gerova
Gerova Financial Group, Ltd., the troubled Bermuda financial services company, announced today [Feb. 24] that the New York Stock Exchange has elected to halt trading pending the firm’s disclosure of additional information involving its operations, management restructuring and business plans. Gerova Chief Financial Officer Michael Hlavsa said:... Read more of this article
Budget Review: City Meeting Postponed
The City of Hamilton’s public monthly meeting which is usually held on the first Wednesday of each month will postponed to Wednesday March 9, 2011. Mayor of Hamilton Charles Gosling said, “We have no choice but to delay next month’s meeting by one week. The additional time will give us an opportunity to review in detail how the 2011-2012 Budget,... Read more of this article
Bolinder Named As Endurance Chairman
Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, today announced that William H. Bolinder has been elected to serve as Chairman of the Board of Directors effective March 3, 2011. Mr. Bolinder has been a member of Endurance’s Board of Directors since December 2001 and the... Read more of this article
BSX Approves Jiangsu Yuyue Listing
The Listing Committee of the Bermuda Stock Exchange (BSX) announced the approval of the listing of Certificates in respect of shares in Jiangsu Yuyue Medical Equipment Co. Ltd. issued pursuant to CLSA Financial Products Ltd.’s Asian Securities Programme under the Exchange’s Restricted Marketing provisions for Qualified Investors. CLSA Financial... Read more of this article
Fairmont Wins Platinum Adrian Award
The Fairmont Southampton has been awarded the prestigious Platinum Adrian Award. Shelley Meszoly, Fairmont Bermuda’s regional director of sales and marketing, was presented the award at the Hospitality Sales and Marketing Association International (HSMAI) award gala event held recently in New York City. Ms. Meszoly’s award winning project “Tea... Read more of this article
Argo Group Makes New Board Appointments
Bermuda headquartered Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, today [Feb. 24] announced it has appointed Kate Nealon and Nabil N. El-Hage to its board of directors. “We are pleased to have these two accomplished and well-respected individuals join our board,” said Argo... Read more of this article
‘Reinsurance Moving To Seller’s Market’
Standard & Poor’s Ratings Services said that the Christchurch earthquake places further downward pressure on the earnings of the general insurers in New Zealand. However, the capital strength and extensive reinsurance protection of major general insurers provided by Bermuda and other international carriers would likely limit negative rating... Read more of this article
