Author Archive: Bernews1

Nabors Continues To Shed Assets

Bermuda’s Nabors Industries Ltd. on Monday [Mar. 26] detailed plans to shed its oil and gas properties and other non-core businesses as the drilling contractor seeks to refocus amid a change in leadership. In a securities filing, Nabors said it hopes to raise at least $800 million selling energy fields in Texas, Canada, Alaska and Colombia as... Read more of this article

Maiden Closes $100 Million Offering

Bermuda’s Maiden Holdings, Ltd. today [Mar. 27] announced that its wholly-owned US holding company, Maiden Holdings North America, Ltd., has closed its offering of $100 million aggregate principal amount of 8% Senior Notes due March 27, 2042, which are fully and unconditionally guaranteed by Maiden. The offering was priced on March 20, 2012. Total... Read more of this article

Upcoming: BSoA Wine Tasting Evening

The Bermuda Society of Arts is inviting you to raise a glass as it hosts a Spring Fever Wine & Cheese Tasting at its City Hall gallery on Friday [Mar. 30]. Doors open at 5.30 p.m. and the tasting begins at 6 p.m. sharp. Michael Robinson of Burrows Lightboun will present a selection of wines, paired with European speciality cheeses from Supermart.... Read more of this article

Hiscox Sponsoring Perot Stamp Exhibit

Three Perot stamps, named after William B. Perot, Bermuda’s first Postmaster General from 1818 to 1862, and representing some of the rarest and most desirable stamps in the world, are being loaned from the Queen’s private stamp collection to an exhibition in Bermuda from April 19-28. Sponsored by Hamilton-based specialist insurer Hiscox and to... Read more of this article

Cricket: Bermuda’s Twenty20 Numbers

The Bermuda National Cricket Team played 9 games during the recently concluded ICC World Twenty20 Qualifiers in the United Arab Emirates, finishing 13th, with two wins and seven losses overall. Bermuda scored a total of 1,284 runs and lost a total of 59 wickets. Bermuda’s highest game score was 179 against Uganda, which was followed by the 162... Read more of this article

Ironshore Expands Pollution Programme

Bermuda re/insurer Ironshore Inc. said yesterday [Mar. 26] it has expanded its site pollution liability programme with coverage for the oil and gas exploration and production sector. The expansion of Ironshore’s Site Pollution Incident Legal Liability Select [SPILL] programme offered by its environmental insurance unit will cover crude oil and... Read more of this article

Seadrill Underwrites NADL Private Placement

The board of directors of North Atlantic Drilling Ltd. — which Bermuda’s Seadrill has a 75 percent ownership stake in — has retained the services of RS Platou Markets AS, Arctic Securities, DNB Markets, part of DNB Bank ASA, Nordea Markets part of Nordea Bank Norge ASA, Pareto Securities AS and SEB Enskilda to effect a contemplated... Read more of this article

Stable Outlook For Platinum Ratings

A.M. Best Co. today [Mar. 27] affirmed the financial strength rating of A [Excellent] and issuer credit ratings [ICR] of “a” of Platinum Underwriters Bermuda, Ltd. [Platinum] and its strategic affiliate, Platinum Underwriters Reinsurance, Inc. A.M. Best also has affirmed the ICR of “bbb” of Bermuda-based Platinum Underwriters Holdings, Ltd.... Read more of this article

Three Injured In Two Vehicle Accident

Three men received relatively minor injuries after an accident last night [Mar.26] on Middle Road in Southampton. A police spokesperson said, “Around 10:30am on Monday, March 26th police and first responders attended a reported collision on Middle Road in Southampton near the junction with High Point Road. It appears that two motorcycles were... Read more of this article

Swimmers Set New Short & Long Records

Following the Best of the Best Series second Event at the BASA Pool on March 17th, the Columbus Grand Prix, in Columbus Ohio on March 10th and the Florida South Sectionals, in Orlando Florida on March 14th, the Bermuda Amateur Swimming Association has confirmed seven New Short Course Records and three New Long Course Records have been Set. During the... Read more of this article

Dr. Martin: War & Peace In The Nuclear Age

Bermuda-based futurist, philanthropist and humanitarian Dr. James Martin has addressed an Oxford University audience on the horrors of nuclear Armageddon, paraphrasing former Soviet leader Nikita Khruschev’s observation that the survivors of such a conflict would envy the dead. Speaking to the Trinity College Scientific Society on March 16,... Read more of this article

Sailors To Attend World Record Regatta In Italy

The 30th Lake Garda Optimist Meeting in Italy runs from 5th – 8th April, and with the largest number of single-class boats in the world taking part, the event will be officially classified as a “Guinness World Record”. Over 1,100 Optimist sailors are already entered to race and e26 nations will be represented including Bermuda. Sailors... Read more of this article