Author Archive: Bernews1

Ratings Affirmed For Bermuda’s ALAS

Fitch Ratings this week [Feb.28] affirmed the “A+” Insurer Financial Strength [IFS] ratings of Bermuda’s Attorneys’ Liability Assurance Society Ltd. and Attorneys’ Liability Assurance Society, Inc., a risk retention group referred to collectively as ALAS. The rating outlook is stable. ALAS’ strong capital position... Read more of this article

Exhibit Fetes Island’s Presidential Ties

The opening reception for the US Consulate photographic exhibit “Between Friends: 65 Years of Bermudian-American Diplomatic Relations” took place last night [Mar 1.] at the Masterworks Museum of Bermuda Art in the Botanical Gardens. The exhibit, which will run through March 14, consists of 26 photographs of US presidential visits to Bermuda, beginning... Read more of this article

A.M. Best Affirms Ariel’s Ratings

A.M. Best Co. yesterday [Mar.1] affirmed the financial strength rating of A- [Excellent] and issuer credit rating [ICR] of “a-” of Bermuda’s Ariel Reinsurance Company Ltd. Additionally, A.M. Best has affirmed the ICR of “bbb-” of the parent company, Bermuda-domiciled Ariel Holdings, Ltd. The outlook for all ratings is stable. The ratings... Read more of this article

Bermuda’s In ‘A Changing Environment’

The Bermuda umbrella organisation for managers in the world’s largest captive insurance domicile have voted in a new slate of officers as the outgoing president warned of a changing business and regulatory environment. The Bermuda Insurance Management Association [BIMA] heard state of the market speeches from key industry figures during their... Read more of this article

BIFF 2012 Film Festival Lineup

BIFF announced the lineup for the 15th annual Bermuda International Film Festival taking place from March 16 to 22. This year’s programme includes Foreign Language Film Oscar winner, “A Separation,” as well as three films nominated for the same category: “Bullhead,” “Footnote,” and “In Darkness.” “A Separation” was also nominated... Read more of this article

Long Island Winner To Race In Gold Cup

2012 marks the 30th Knickerbocker Cup regatta, and officials of Long Island’s Manhasset Bay Yacht Club, the organising authority for the prestigious trophy, announced yesterday [Feb. 29] that the Grade 2 Match Race event winner will be invited to the 2012 Argo Group Gold Cup in Bermuda. The Argo Group Gold Cup is a World Match Race Tour event... Read more of this article

Sears Store Grand Opening Next Week

The Grand Opening of the new Sears store will be held next Wednesday [Mar.7], with Premier Paula Cox scheduled to cut the ribbon and officially open the new retail outlet. The new store will be located at 41 Victoria Street in Hamilton next to The Shopping Centre Supermarket. Owned by MarketPlace, the store hired 8 new employees, and will feature 12,000... Read more of this article

$33.1M For Estates & Information Services

The Ministry of Government Estates and Information Services 2012/13 Budget allocation is $33.193 million, Minister of Government Estates and Information Services Michael Scott said this morning [Mar.1]. “The seabed and wealth under the seabed of Bermuda in the form of precious metal or mineral deposits, one can easily recognize the expanded compliment... Read more of this article

PLP Rollout Marc Bean & Dale Butler

[Updated with video] This afternoon [Mar.1] the Progressive Labour Party announced that Dale Butler will represent them in Constituency #25 Warwick North East, while Marc Bean will stand in Constituency #26 Warwick South Central. Mr Bean will go head to head against the OBA’s Ras Mykkal, while Mr Butler will be challenged by the OBA’s Mark... Read more of this article

21-Yr-Old Woman Admits Assault

21-year-old Diana Smith of Southampton appeared in Court today [Mar.1], answering a charge of unlawfully assaulting another woman. At the time of the offence, both women were employed at a supermarket. Ms Smith pleaded guilty to the charge. The facts read out by the Prosecutor were that she had slapped the other woman on 9th February 2012. The slap... Read more of this article

Photos: St. George’s Colts vs Trojans

St. George’s Colts and Somerset Trojans met up on Sunday [Feb.26] in a Digicel Premier Division game at the Wellington Oval in St. George’s, with the St. George’s Colts walking away with 2 – 1 win. Jahron Dickinson gave the home team St. George’s Colts the lead early in the first half, Jonathan Bean equalized for the visiting Somerset... Read more of this article

‘Resilient Year’ For HSBC Bermuda

HSBC Bank Bermuda Ltd made net income of $152 million in 2011 in what CEO Philip Butterfield described as a “resilient year” for the financial institution. Year end highlights on “underlying” performance include: Underlying consolidated net profit of US$152m for the year ended 31 December 2011, an increase of 3% compared with... Read more of this article