Archive for July, 2011

Endurance Q2 Net Income: $41 Million

Bermuda based re/insurer Endurance Specialty Holdings Ltd.reported net income of $41.1 million and $0.87 per diluted common share for the second quarter of 2011 versus net income of $58.6 million and $0.97 per diluted common share in the second quarter of 2010. For the six months ended June 30, 2011, Endurance reported a net loss of $46.3 million and... Read more of this article

Campaign To Pay Sanitation Worker’s Court Fine

A campaign to collect money to pay the $2,000 fine for a sanitation worker who was convicted of slapping a teenage girl after she insulted him is underway. Last week a Corporation of Hamilton trash truck worker who slapped a 16-year-old girl was fined $2,000 in Magistrates.Court. The Royal Gazette reported that 43-year-old Michael Pond told the Court,... Read more of this article

Lancashire Moving Tax Base To UK

Lancashire Holdings Limited announced that it intends to move its tax residence to the UK, citing planned UK tax reforms as the reason. Its Bermuda-based insurance subsidiary will continue to operate and be incorporated in Bermuda. A statement released by the company yesterday [July 26] said, “Lancashire is currently based in Bermuda and has... Read more of this article

Bermuda Pacers & Devonshire Colts Return

Both the Bermuda Pacers Track Club and Devonshire Colts U/14 football team returned home last night [July 26], with both teams having experienced very successful competitions in the United States. The Pacers finished 2nd out of 120 teams, picking up a combined 26 medals; while the Colts won 3 of 4 games in an international tournament. The Bermuda... Read more of this article

Video: Ramnaresh Sarwan Arrives In Bermuda

Former West Indian captain Ramnaresh Sarwan arrived in Bermuda this evening [July 26] to take part in a Youth Cricket Clinic. Mr Sarwan – along with fellow cricketer Jerome Taylor – will attend the Digicel Youth Cricket Summer Clinic, organized by the Bermuda Cricket Board [BCB] at the Berkeley Institute School Field. We spoke with Mr Sarwan... Read more of this article

Rego Wins U/14 Tennis Champs In Bahamas

Bermudian tennis player Chris Rego was crowned the Junkanoo Bowl Boy’s Under 14 Singles Champion following his straight sets win in the final. The Junkanoo Bowl is part of the Confederation of Tennis Central America and the Caribbean [COTECC] Junior Circuit which took place in the Bahamas. Unseeded Rego took on Michael Johnson from the Bahamas, Rego... Read more of this article

Butterfield Bank Net Income: $11.8 Million

The Bank of N.T. Butterfield & Son Limited today [July 26] reported second quarter net income of $11.8 million, compared to net income of $8.4 million in the first quarter of 2011 and net income of $0.2 million in the second quarter of 2010. Brad Kopp, Butterfield’s President & Chief Executive Officer, said, “We are pleased that Butterfield... Read more of this article

Cup Match Money Circulation: $130 Million

The Bermuda Monetary Authority said today that the amount of Bermuda Dollar notes and coins in circulation over the coming holiday weekend will be $130.8 million. This compares with a total of $141.3 million at the same period last year, a decrease of 8%. The total amount of notes and coins issued to the banks by the Bermuda Monetary Authority between... Read more of this article

PLP Poses Questions, OBA Responds

Following Shadow Finance Minister Bob Richards statement last week on steps the OBA would take to improve the economy, the PLP posed questions to Mr Richards saying with the OBA’s “stated commitment to transparency,” they should have have no problem answering the questions. Last week Mr Richards spoke on the economy saying, “We... Read more of this article

Kevin Warner: Must Serve 35 Years In Prison

Kevin Andre Warner was today [July 26] sentenced to life in prison, with a stipulation he must remain jailed for 35 years before being eligible for parole. The 21-year-old Kevin Warner will be eligible for parole in 2046 when he is 56 years old. At the present estimate of $80,000 per year for each prisoner, incarcerating Mr Warner will cost the taxpayer... Read more of this article

St George’s Holds The Lead – On Facebook

With less than 48 hours to the start of Cup Match, St George’s holds the lead – on Facebook that is. Last week Bermudians started to declare their team pride, with blue/blue and red/blue badges popping up on profile photos all over the social network. As of this writing [July 26] St George’s is in the lead with 1,152 supporters, while... Read more of this article

Tourism Boost: ‘Nip & Tuck Vacations’

Yesterday [July 25] in the House of Assembly Shadow Minister for Business Development & Tourism Patricia Gordon-Pamplin made a number of suggestions to boost Bermuda’s tourism, including what she termed “nip and tuck vacations.” Ms Gordon-Pamplin suggested that “to the extent we are looking for something new and different,... Read more of this article