Author Archive: Bernews1

Munich Re’s Bermuda Cat Bond Coverage

German reinsurer Munich Re AG today [Feb.28] said it has acquired coverage for US hurricane and European windstorm risks with a total volume of $75 million from the Bermuda special purpose insurer Queen Street V Re Ltd., which placed a catastrophe bond for that amount on capital markets. The catastrophe bond, which matures April 9, 2015, gives Munich... Read more of this article

Training Vessel Eendracht Visits Bermuda

The Dutch-flagged sail training vessel “Eendracht” left St. George’s yesterday [Feb.27] after stopping by the island for a crew transfer. The vessel sails as a training vessel and arrived in Bermuda from Marigot, St. Martin and is now en route to Horta, Azores. Eendracht is one of Holland’s largest three-mast schooners and participates... Read more of this article

Upcoming: Annual Eye Institute Classic

On behalf of the Charis Foundation, a registered Bermuda charity, the Bermuda International Eye Institute, Ltd. is hosting its 10th Annual Run & Walk [Eye Institute Classic] on 11th March 2012, here in Bermuda. They are expecting three hundred participants. The Eye Institute Classic begins at the East End Primary School, and enjoys a very scenic... Read more of this article

Photo Set #2: 2012 Telford Electric Magic Mile

Hundreds of children made their way to the National Sports Center in Devonshire on Saturday afternoon [Feb.25] for the 2012 Telford Electric Magic Mile Races. The always popular annual event attracts hundreds of budding young runners aged 4 and up. You can read the full results here, watch 15 minutes of video here, view the first set of photos here,... Read more of this article

Nabors Expands Board Of Directors

Bermuda-based Nabors Industries Ltd. announced that its Board of Directors voted to expand the board to nine members from the current seven and subsequently appointed James R. Crane and Michael C. Linn to fill the newly created vacancies. Messrs. Crane and Linn will join the Board as Class III Directors with a term through the Company’s 2012 annual... Read more of this article

Swimmers Attend Florida Training Camp

Ten swimmers from the Bermuda National training team signed up for a week of intensive training in Plantation, Florida. The camp allowed the swimmers — ranging in age from 11 to 18 — to work uninterrupted on their sport. They rise at 6am and after a quick bite to eat start their day with a one mile run to the pool facility. For the next... Read more of this article

Photos: BIFF’s ‘Live From The Red Carpet’

The Bermuda International Film Festival [BIFF] wrapped up its weekend of film-related entertainment on Sunday [Feb.26] with a gala night of glitz, glamour and film talk at the Oscar-themed “2012 Live From the Red Carpet” affair. The event was held at The Deep in the Elbow Beach Complex on the night of the 84th Academy Awards. The awards were broadcast... Read more of this article

New Dark-n-Stormy Can Unveiled

The ‘national drink’ of Bermuda is heading to American shores in a new ready to drink 8.4 oz./250 ml can. “It’s the perfect addition to our family of products,” explained Malcolm Gosling, 7th generation President/CEO of the renowned Bermuda rum maker. “This is the perfect Dark ‘n Stormy delivered in a slender... Read more of this article

Golar Contracts For Two New Carriers

Bermuda-based Golar LNG Limited has entered into firm contracts with Samsung Heavy Industries Co. Ltd for a further two LNG carriers. The two additional vessels, each with a capacity of 160,000cbm have a combined total cost of slightly above $400 million. The first of the carriers is scheduled for delivery in the second quarter of 2014 and the second... Read more of this article

104 Teens Nominated For Teen Awards

Teen Services announced that the nomination process for the Outstanding Teen Awards is complete, and there were 104 nominees for the year 2012. A spokesperson said, “Teen Services would like to thank all of the schools and organizations who nominated these senior students. In addition, Teen Services would like to thank our 50 volunteers that... Read more of this article

St George’s: ‘Most Picturesque Village’

Budget Travel has named St. George’s as one of the “World’s 16 Most Picturesque Villages.” “Spend a few minutes in these 16 villages and you’ll realize that quaint and charming aren’t just adjectives, they are a way of life,” said the travel magazine. Their description of St. George’s said, “St.... Read more of this article

Seadrill ‘Disappointed’ By Archer Slump

Bermuda-based Seadrill Ltd., the oil-rig operator whose largest owner is Norwegian-born shipping billionaire John Fredricksen, will take a $463 million non-cash impairment charge on its investment in Archer Ltd. for the fourth quarter of 2011. Archer contributed $44 million to net income for the full year, reflecting “deconsolidation profits” and... Read more of this article