Archive for January 19th, 2012

Golar Extends Petrobas Contract

Bermuda’s Golar LNG Partners LP announced today [Jan.19] that it has reached agreement with Brazilian energy company Petrobras to make certain modifications to the “Golar Winter” floating storage and regasification unit [FSRU] and to extend the term of the contract by five years to 2024. Petrobras have taken the decision to move the... Read more of this article

ILS Market Grows Investor Base

The global insurance linked security [ILS] and catastrophe bond market continues to grow its investor base, drawing in a wider, more geographically balanced pool of investors including 13 percent in Bermuda, 44 percent based in Europe and 36 percent domiciled in the US, Swiss Re says in its annual review of the market. This comes as institutional... Read more of this article

Jupiter To Close Bermuda Office

[Updated] Britain’s Jupiter Fund Management is to close its hedge fund in Bermuda this year, following substantial net outflows during the last quarter of 2011. The Company presently employs eleven people – eight of which are Bermudian. It emerged today [Jan. 19] that the firm saw net outflows of $347 million during the fourth quarter of... Read more of this article

Sandys 360: Free Basketball Clinics

Sandys 360 is hosting a series of free clinics for eight weeks beginning this Saturday [Jan.21]. The clinics will run every Saturday from 3pm to 4:30pm every Saturday, beginning January 21, for young people ages 5-15. They will cover fundamental skills such as dribbling, passing, and shooting. “Our aim is to develop the necessary fundamental skills... Read more of this article

Upcoming: Coldwell Banker Home Show

The 10th Annual Coldwell Banker Home Show will be held on Friday 17th February 2012, 3pm – 8pm and Saturday 18th February 2012 from 9:30am – 4:30pm at CedarBridge Academy. The trade exhibition is designed to showcase local business services and provide the public with a “one-stop-shopping” experience for goods and services related... Read more of this article

PLP & OBA On Guest Worker Policies

“We’ve seen over and over again that the only solution that the UBP turned OBA offers is one that would bring more guest workers to our shores and would grant sacred status to countless guest workers,” said the PLP. “If you believe that the solution to our economic problems is to open Bermuda up and bring more guest workers to our... Read more of this article

Appleby: Bell Taking Over From Morris

Kiernan Bell has been appointed as Appleby’s Bermuda Office Managing Partner, taking over from Shaun Morris who held the post for six years. This change will take effect from 26 January 2012. Ms Bell [pictured] will retain her role as Bermuda Head of Litigation & Insolvency and Shaun will return to a client-facing role as a senior partner in... Read more of this article

Upcoming: Speed Dating Fundraising Event

Melange, a registered Bermuda charity, will be hosting a speed dating event on Wednesday February 1st 2012 at Flanagan’s Irish Pub & Sports Bar. You must be single, and between 30 and 55 years old to participate. There is space for 40 participants, and the fee is $25 per person. Melange is a registered Bermuda charity, whose primary goal is to... Read more of this article

Alterrra Q4 Loss Estimate: $50 Million

Bermuda-based Alterra Capital Holdings Limited said it expects to record fourth quarter 2011 losses from catastrophe events of approximately $50 million, including an initial loss estimate from the severe flooding in Thailand during the fourth quarter of approximately $30 million, pretax and net of reinsurance and reinstatement premiums. A statement... Read more of this article

Bermuda Police To Assist In Montserrat

[Updated] Following allegations of police misconduct, police officers from Bermuda and the Cayman Islands will travel to Montserrat next week to assist The Royal Montserrat Police Service with the investigation. The Bermuda officers are assisting under a co-operation agreement on reciprocal law enforcement assistance between the Caribbean Overseas Territories. A... Read more of this article

Yearwood Wins 50 Yard Freestyle

Bermudian swimmer Ashley Yearwood helped her school Baylor win the Nike Swim Winter Invitational in Chattanooga, Tennessee this past weekend [Jan.14/15] Yearwood took part in a total of six events, never finishing outside the top five, and winning a Gold Medal in the Girls 50 Yard Freestyle. Swimming in the Girls 200 Yard Freestyle, Yearwood was clocked... Read more of this article

Aspen Estimates Thai Floods: $54 Million

Aspen Insurance Holdings Limited announced an initial estimate of losses of $54 million, net of applicable reinsurance, reinstatement premiums and tax, for the flooding in Thailand. This is consistent with estimated industry insured losses of $15 billion arising from widespread flooding, which occurred in Thailand in October and November 2011. “Aspen’s... Read more of this article