Author Archive: Bernews1

Embarcadero Re Selling $150M Catastrophe Bonds

The California Earthquake Authority is seeking to raise about $150 million through a sale of catastrophe bonds to help it meet potential claims, market sources said on Friday, as reported in a Reuters article. The bonds are to be sold through the CEA’s Bermuda-based Embarcadero Re vehicle, and offer protection against property damage in the event... Read more of this article

Retail Sales Rise 0.7% In May 2012

Total retail sales in May 2012 rose 0.7%. Consumers spent $83.2 million on retail goods representing an increase of $0.5 million year over-year. Liquor stores, all other store types, and building material stores all registered increases in sales. In contrast, motor vehicle dealers, apparel stores, service stations and food stores reported lower sales... Read more of this article

PLP’s Stephen Todd To Hold Community Meeting

The Progressive Labour Party invites the residents of Constituency 30, Southampton East Central, to a community meeting “Addressing Area Concerns”. This meeting, to be held on Monday, July 23, 2012, at 7pm, at Vernon Temple A.M.E. Church, will feature the PLP candidate Mr. Stephen Todd. Mr. Todd notes “Over the past several months... Read more of this article

Argo Re Summer Triathlon Series Results

The Bermuda Triathlon Association Argo Re Summer Series continued at the Clearwater Beach, with Neil de Ste Croix winning the 200m Swim/8K Bike/2K Run distance for the third week in a row. De Ste Croix clocked 22.56, the team of Pilgrim’s finished second, Alex and Ian teamed up to clock 23:00, while Andrew Davis finished as the second Individual with... Read more of this article

Government Unveils ‘Economic Toolkit’ Pamphlet

Yesterday [July 19] Government unveiled a pamphlet ‘Tips for Tough Times’ – an ‘Economic Toolkit’ [PDF] for those persons in Bermuda who may find themselves either unemployed or underemployed. “This Toolkit, developed by the Sustainable Development Roundtable (SDRT), provides a critical resource to enable individual and family economic... Read more of this article

Junior Cyclists To Compete In Pennsylvania

Ten local junior cyclists are heading out to compete this weekend at the 2012 Nicole Reinhart Memorial Tour de FCCC in Maxatawny, Pennsylvania. As a competitive preparation for the Junior Caribbean Cycling Championships which will be held at the end of August in the Dominican Republic, this weekend’s three stage race will give local cyclists the opportunity... Read more of this article

BCB Suspends Toronto Darrell For 5 Years

The Bermuda Cricket Board [BCB] has banned cricketer Toronto Darrell for five years after he found guilty of a Level 4 offence for the second time in the past year. A statement from the BCB said: “At the St. Davids v Willow Cuts game on July 8, Toronto Darrell was found guilty of breaching Article 2.4.1 Threat of assault on an Umpire or Match... Read more of this article

Bermuda To Host World Cricket Tournament

Premier of Bermuda, Paula Cox, announced Thursday [July 19] that the ICC have confirmed that Bermuda will be the host country of the Pepsi World Cricket League Division 3 in 2013. The Premier said: “The Government of Bermuda, alongside the Bermuda Cricket Board, is delighted to announce that the Island has been selected by the International Cricket... Read more of this article

Huebel Appointed CEO Of Catlin Canada

Bermuda-based Catlin Group Limited announced that David Huebel will become chief executive officer of Catlin Canada, with effect from 3 July 2012. Catlin Canada is the Catlin Group’s Canadian underwriting hub, which is headquartered in Toronto and operates offices in Calgary, Montreal and Vancouver. Catlin Canada’s gross premiums written amounted... Read more of this article

Police Divers Search Waters Off Causeway

The Police Marine Unit was spotted this evening [July 19] searching the waters off the Causeway in St George’s. There had been a noticeable police presence in the area from approximately 5pm, with officers seen walking up and down appearing to be searching the water’s edge. At approximately 6.30pm a police boat arrived and officers proceeded... Read more of this article

Kim Swan Calls For Update On Club Med Property

UBP MP Kim Swan — the St. George’s West MP – is calling on the Government to reveal what their plan is for the former Club Med property in St George’s. “It has been 47 months since the implosion of the former Club Med Property and there are no signs of construction as promised,” said Mr Swan. “The lease agreement... Read more of this article

Police Continue Investigation: Rudy Smith

The investigation into the disappearance of Rudy Smith continues, with the 39-year-old having last been seen ten days ago. This evening a police spokesperson said: “The investigation into the disappearance of Mr. Rudolph Smith is ongoing. Detectives are still interested in speaking with anyone who may have any information regarding Mr. Smith’s whereabouts... Read more of this article