Archive for November 15th, 2011

BEST Objection: Desilva’s Development

[Updated] The Bermuda Environmental Sustainability Taskforce [BEST] has spoken out against development plans for the Island Construction premises on Devonshire Marsh. Owned by Health Minister Zane DeSilva, BEST said Island Construction’s plans to build three warehouses on the marsh “would allow damaging construction to take place on lands... Read more of this article

Richardson Thanks By-Election Voters

H. Anthony Richardson, the PLP candidate in the Devonshire South Central bye-election held on November 1st, issued a statement thanking the voters of Devonshire South Central. “The entire day was filled with a wide cross section of voters, which demonstrates that voters remain engaged in the democratic process and care about the future of Bermuda,”... Read more of this article

Bermuda Weekend Film Series Screenings

A documentary film about a baby Orca that makes human friends, and a humorous and charming award-winning French film, are the featured films at the Weekend Film Series on Sunday [Nov. 20]. The monthly event is held in the Tradewinds Auditorium at the Bermuda Underwater Exploration Institute [BUEI]. “The Whale” will screen at 3 p.m. while... Read more of this article

Sirius International Declares Dividend

The board of directors of Sirius International Group, Ltd., the Bermuda-based reinsurance unit of White Mountains Insurance Group, today [Nov.15] declared a dividend of $37.53 per share, payable in cash on or before January 3, 2012, to holders of record of its Fixed/Floating Perpetual Non-Cumulative Preference Shares as of the close of business on December... Read more of this article

Student Day Release To Learn Auto Repair

Bermuda Motors has partnered with T. N. Tatem Middle School to launch a day release programme aimed at providing students with work experience in the auto industry. Under the scheme, three students will spend one day a week throughout the school year working hands-on alongside qualified professionals in the company’s body and paint shop, mechanical... Read more of this article

Frontline Ltd. Sells Suezmax Tanker

Bermuda’s Frontline Ltd. announced today [Nov.15] it has entered into an agreement to sell its 1993-built double hull Suezmax tanker “Front Delta”. Delivery to the buyer is expected to take place in late November 2011 and the vessel will cease to operate in the tanker market. The sale will result in a net cash outflow of approximately... Read more of this article

White Mountains Issues Tender Offer Results

Bermuda-domiciled White Mountains Insurance Group announced today [Nov.15] the preliminary results of its “modified Dutch auction” tender offer. The tender offer expired at 12:00 midnight, New York City time, on November 14, 2011. Based on a preliminary count by the depositary for the tender offer, 4,474 shares were properly tendered and... Read more of this article

East End Plans Second ‘Art In The Park’ Show

Thanks to the great success of a similar event in August, St. George’s is hosting the second Art in the Park show on December 4 from 10 am- 4pm in Somers Garden. About 20 artists are participating including Milton Hill, Chris Grimes, Heidi Cowan, Vanese Gordon, Ami Zanders, Vanessa Redgrave and Calix Smith. On Saturday [Nov.12] hundreds of people... Read more of this article

Zacks Analysts Downgrade Montpelier Re

Bermuda’s Montpelier Re Holdings was downgraded by equities research analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday [Nov. 14]. The analysts currently have a $16.00 price target on the stock. Zacks’ analyst wrote, “We are downgrading Montpelier... Read more of this article

Assured Guaranty’s Earnings Jump In Q/3

Assured Guaranty yesterday [Nov. 14] reported income of $762.2 million, or $4.13 per share, for its third quarter, a significant earnings jump for the Bermuda-based mortgage bond insurer. The monoline reported in the second quarter a loss of $57.7 million, or 31 cents per share, and third-quarter earnings increased from $164.6 million, or 88 cents per... Read more of this article

A.M. Best Issues Ratings For AmerInst

A.M. Best Co. has assigned an issuer credit rating [ICR] of “bbb-” to AmerInst Insurance Group, Ltd, which is the holding company of AmerInst Insurance Company Ltd (AmerInst). Both entities are domiciled in Bermuda. The ICR for AmerInst Insurance Group, Ltd, is derived from the ICR of “a-” and the financial strength rating... Read more of this article

Bermuda Hockey League To Kick Off

With the BHF 2011/2012 season finally kicking off this weekend, there are some new teams vying for position throughout the leagues. As with most sports played on the Island, hockey is not immune to the loss of members through players furthering their education abroad, increased family commitments and the loss of players who have left Bermuda. Unfortunately,... Read more of this article