Archive for October 28th, 2011

Minor Flooding: Airport Car Park

The Department of Airport Operations advised that, due to extremely high tides, there has been some minor flooding in the Long Term Parking Facility at the LF Wade International Airport. The statement issued said, “Several cars in the facility were affected by water rising as high as the axle on some vehicles. As a result of the flooding Airport... Read more of this article

Bermuda Debunks Film’s Conspiracy Theory

The historical conspiracy theory offered up in a Hollywood blockbuster opening today [Oct.28] — namely, that William Shakespeare’s plays were actually written by the Earl of Oxford — can be disproved by one stubborn fact: the 1609 “Sea Venture” wreck in Bermuda. Director Roland Emmerich’s “Anonymous” is... Read more of this article

Aspen Partners With V3 On New Programme

The US subsidiary of Bermuda-based Aspen Insurance Holdings Ltd. has entered into a strategic alliance with V3 Insurance Partners LLC, a managing general underwriting agency, to offer a miscellaneous professional liability and optional premises liability programme available in all 50 states. Designed for professional services firms with under $15 million... Read more of this article

Crime Stoppers Hails Jamaica Conference

With 16 gang-related murders since 2009, deputy chairman of the island’s Crime Stop Programme, Rafael Simons, has hailed the 32nd staging of the Crime Stoppers Training Conference in Montego Bay as a success. “The number of murders is unprecedented for Bermuda. Right now gang crime is the dominant crime. There is a lot of tit-for-tat gun... Read more of this article

2011 Pan Am Equestrian Update

After the third round of individual qualifying for the show jumping competition Jillian Terceira and Bernadien are well placed in 11th place with an accumluated score of 9.24, whilst Patrick Nisbett [pictured] and Cantaro are in 36th with a score of 26.31. In the second round jumped on Thursday morning Jillian incurred one time penalty moving her penality... Read more of this article

Analysts Upgrade Alterra From Hold To Buy

Bermuda’s Alterra Capital Holdings has today [Oct.28] been upgraded by TheStreet Ratings from hold to buy. The stock analysts say the company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and solid stock... Read more of this article

OneBeacon: Q3 Drop In Book Value Per Share

Bermuda-domiciled OneBeacon Insurance Group, Ltd. today [Oct.28] reported book value per share of $11.57, a decrease of 2.8 percent for the third quarter and an increase of 1.5 percent through nine months, including dividends. Mike Miller, CEO of OneBeacon, said, “Our decrease in book value in the quarter was driven by our equity portfolio losses... Read more of this article

British Airways Moves To Winter Schedule

British Airways transitions to its winter schedule this Sunday [Oct.30]. The winter schedule will operate five times weekly from this Sunday until March 25, 2012 . The two days it will not be operating during the winter months are Mondays and Saturdays. A BA spokesperson said, “Passengers are reminded to check departure times on their tickets... Read more of this article

Regional Tourism Officials Predict Upswing

Regional tourism officials are hoping the number of participants in an upcoming hospitality industry conference is indicative of a pending 2012 upswing in Bermuda and Caribbean visitor numbers. The Bahamas is set to play host to over 343 delegates representing 153 companies when the 30th Edition Caribbean Marketplace is held at the Atlantis on Paradise... Read more of this article

Endurance Reports $20 Million Q3 Net Loss

Bermuda’s Endurance Specialty Holdings Ltd this week reported a net loss of $20.0 million and $0.71 per diluted common share for the third quarter of 2011 versus net income of $139.1 million and $2.51 per diluted common share in the third quarter of 2010. For the nine months ended September 30, 2011, the net loss was $66.4 million and $2.07 per... Read more of this article

Validus Posts “Strong Financial Results”

Bermuda reinsurer Validus Holdings, Ltd. has reported net income available to Validus of $56.5 million, or $0.54 per diluted common share for the three months ended September 30, 2011, compared to $238.5 million, or $2.08 per diluted common share, for the three months ended September 30, 2010. Net (loss) attributable to Validus for the nine months ended... Read more of this article

Foreign Workforce Effect on GDP

[Written by Sir John Swan and Larry Burchall] We would like to thank the Bermuda Public for the support that the Regeneration of Bermuda’s Economy initiative has received. Coming out of all of the comments, suggestions and queries, one area that stood out as requiring further clarification is the aspect of why International Business (IB) and the foreign... Read more of this article