Archive for November 7th, 2011
Globaleq’s Role In Tanzanian Gas Project
Globeleq, the Bermuda-registered emerging markets power company, is a partner in PanAfrican Energy’s plans to invest $130 million to double natural gas output following a surge in demand in east Africa’s second-largest economy. Toronto-listed Orca Exploration’s Tanzanian unit, PanAfrican Energy said it aims to drill two new wells and... Read more of this article
Dockwise Sells Yacht-Transport Subsidiary
Bermuda-incorporated Dockwise Ltd. has announced it has signed a letter of intent to sell its wholly-owned subsidiary, Dockwise Yacht Transport to US-based Coby Enterprises Corp. Closing of the transaction is conditional upon market customary conditions. The proceeds of this cash deal will be disclosed upon completion of the transaction which is expected... Read more of this article
Island Could Benefit From Cat Bond Boom
Interest in the re/insurance industry’s use of insurance-linked securities to spread its risk of exposure to global catastrophes continues to grow and Bermuda could benefit from this resurgence, business magazine “Financial News” reports today [Nov. 6]. Through insurance-linked securities, insurance risk is transferred in a capital markets... Read more of this article
Hiscox Poised To Benefit From Rate Rises
Bermuda-based specialist insurance and reinsurance group Hiscox saw gross written premiums ease 3.0% year-on-year in the first nine months of the year, in line with expectations as the company becomes more picky about the risks it underwrites. Hiscox announced today [Nov.7] that gross written premiums totalled £1,169.5 million from £1,205.3 million... Read more of this article
CD&P: Bermuda Airline Financing Set To Soar
Aircraft financing is taking off again and Conyers, Dill & Pearman lawyers David Cooke and Jason Piney say today [Nov.7] Bermuda is well placed for a resurgence in this business. The Bermuda lawyers say with the successful listing of Air Lease Corp on the New York Stock Exchange earlier this year and several other aircraft leasing companies reportedly... Read more of this article
Photos/Videos: Swinging Doors Fire
At approximately 12.30am this morning [Nov.7] Bermuda Fire and Rescue Service and Police responded to a report of a structural fire inside the Swinging Doors Nightclub at #29 Court Street in Hamilton. Swinging Doors is sandwiched between C&R Discount and the Fish Hut on Court Street. Fire personnel arrived at the scene to find moderate smoke emitting... Read more of this article
