Author Archive: Bernews1

XL Group $750M Share Buyback

XL Group plc approved a new share buyback program, authorizing the Company to buy back up to $750 million of its ordinary shares. This authorization replaces the approximately $190 million remaining under a previously authorized share buyback program. A statement issued said, “The Company expects the purchases to be made from time to time in the... Read more of this article

Aspen Files Annual Report On Form 10-K

Bermuda’s Aspen Insurance Holdings Limited today [Feb.28] filed its 2011 Annual Report on Form 10-K with the US Securities & Exchange Commission. The document can be downloaded from the Investor Relations section of Aspen’s website.. Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets... Read more of this article

Argentina Bars Bermuda-Flagged Ship

Argentine authorities stopped a cruise liner flying the Bermudian flag from docking in one of the country’s ports on Monday, the Reuter news agency reports today [Feb.27], further ratcheting up the tension in its ongoing spat with Britain over the Falklands. Britain and Argentina fought a 10-week war over the Falkland Islands in 1982 after Argentina... Read more of this article

45-Year-Old Man Arrested For DUI

“Around 1:15am on Saturday February 25th, police conducting speed checks along Middle Road, Southampton noticed a motorcycle driving erratically,” a police spokesperson said. “Officers stopped the motorcycle a short time later near the junction of Middle Road and South Road and approached the rider, a 45 year old Paget man, who appeared... Read more of this article

TBI Completes SOC1 Certification

TeleBermuda International Limited announced they, along with their sister company TeleCayman Limited, have had an examination of Data Center operations in both jurisdictions completed under the SOC1 standards [formerly known as SAS70]. This internationally recognized examination developed by the American Institute of Certified Public Accountants was... Read more of this article

Photos: Wolves Defeat X’Roads 4 – 0

In a First Division football matchup played on Sunday [Feb.26] at the Devonshire Rec, Wolves defeated X’Road’s 4 – 0. The First Division League leaders Wolves got two goals from Troy Tucker and two from Derek Brangman as they defeated visiting X’Road’s 4 – 0. In the other First Division games of the day Young Men Social Club defeated... Read more of this article

Premier/Ministers To Host Town Hall

Premier Paula Cox along with various Government Ministers will host a town hall meeting tomorrow [Feb.28] to discuss the 2012/13 National Budget.The meeting takes place at the Berkeley Institute Auditorium at 7.30 p.m. The Premier will be joined by the following Cabinet Ministers at Tuesday’s meeting: Deputy Premier and Minister of Transport Derrick... Read more of this article

Repeat Offender Jailed: Stealing Liquor

64-year-old habitual offender Sinclair Lewis Fox was this morning [Feb.27] sent to prison for three months after pleading guilty to two counts of trespassing and stealing liquor and wine to a total value of $250. Mr Fox was said to be unemployed and of no fixed abode, and also to have burgled his own lawyer’s office previously. The Prosecutor... Read more of this article

Man Jailed: Swallowing Drug Pellets

20-year-old Zeco Stovell of Middletown Lane Pembroke started a fifteen month prison sentence this morning [Feb.27] after he pleaded guilty and was convicted of two counts; importing and possessing with intent to supply. Mr Stovell had swallowed two pellets before boarding an aircraft to return to Bermuda from a trip to the USA. The Prosecutor told Senior... Read more of this article

Photos: City Of Hamilton’s Car Show

Sleek designs, horsepower and the latest in automotive high-tech gadgetry and accessories were all showcased in Hamilton at the weekend as the island’s car dealerships went into top gear for the City of Hamilton’s car show. Hundreds of people made their way to the event on Saturday afternoon [Feb.25], which was held on the third level of... Read more of this article

Catastrophes Impact On Hiscox Profits

Hiscox, the Bermuda-based reinsurance group, today [Feb.27] reported a reduction in pre-tax profit for the year ended December 31, leading to a significant fall in earnings per share [EPS]. Profit before tax dropped from £211.4 million to £17.3 million, which the firm said was “a good result considering natural catastrophe losses of £270 million”,... Read more of this article

Cayman Newspaper Chides Premier Cox

Premier Paula Cox’s criticisms of claims by Shadow Finance Minister Bob Richards that rival Caribbean jurisdiction Cayman may be stealing a march on Bermuda in the reinsurance field entirely miss the point, says the leading newspaper in that British territory. In an editorial today [Feb.27], the “Caymanian Compass” says the Bermudian... Read more of this article