Author Archive: Bernews1

Flagstone: ‘We Have Put 2011 Behind Us’

Flagstone Reinsurance Holdings SA — the Luxembourg-based firm which maintains its executive offices and other operations in Bermuda — swung to a fourth-quarter loss as a series of back-to-back global catastrophes in 2011 impacted on the reinsurer’s results. Flagstone reported today [Feb. 22] fourth quarter 2011 basic book value per... Read more of this article

2011: $52 Million Of Drugs Seized

An estimated total of 351 Kg [771lbs] of controlled drugs with an estimated street value of $52 million was seized in 2011, according to the crime statistics released yesterday [Feb.21]. Cocaine was the most common drug with 167.3 Kg [368lbs] seized with a value of $39.3 million. “The level of cocaine is unusual and is related to the seizure of... Read more of this article

New Restaurant Opens On North Shore

It’s not often the catch of the day you see listed on a menu was actually caught by a restaurant’s owner — but that’s going to be the case at a new North Shore eaterie. Located on North Shore next to the old Clayhouse Inn, the Sea Side Grill takeout restaurant opened last week Wednesday [Feb.15] and specialises in a wide variety... Read more of this article

Best Affirms American Safety Ratings

A.M. Best Co. yesterday [Feb. 21] affirmed the financial strength rating of ‘A’ [Excellent] and issuer credit ratings of “a” of the insurance operating subsidiaries of Bermuda-based American Safety Insurance Holdings, Ltd. [ASI], which includes: American Safety Casualty Insurance Company, based in Oklahoma City, American Safety Indemnity Company,... Read more of this article

Lauder’s CEM On ‘Strong Path For Growth’

Central European Media Enterprises Ltd. [CEM] — the Bermuda-based European TV and entertainment conglomorate founded by American businessman and philanthropist Ronald Lauder [pictured] — today [Feb. 22] announced financial results for the full year and three months ended December 31, 2011. Net revenues for the year ended December 31, 2011... Read more of this article

BCB & BCUA Congratulate Roger Dill

The Bermuda Cricket Board and Bermuda Cricket Umpire’s Association have congratulated local umpire Roger Dill for being selected to umpire in the United Arab Emirates for the upcoming ICC World Twenty20 Qualifier. President of the Bermuda Cricket Board Lloyd Fray stated, “I would like to congratulate Roger on his selection to officiate at... Read more of this article

Nabors: ‘Solid Operational Improvements’

Oil-drilling giant Nabors Industries Ltd. — which has its corporate headquarters in Bermuda — today [Feb.22] announced its results for the fourth quarter and full year 2011. The company’s net income from continuing operations was $89.5 million — $0.30 per diluted share — in the fourth quarter and $342.2 million —... Read more of this article

Olde Towne Market To Kick Off

The next season of the Olde Towne Market will run on Saturdays between 11:00am – 4:00pm in St. George’s. The first session in 2012 will run from Saturday March 3rd, 2012 to Saturday April 14th, 2012. They will have a two week break and then run for 8 weeks, followed by 5 weeks until the end of July. The organizers are seeking new vendors,... Read more of this article

Young Bermudians Adventure Abroad

Seven young Bermudians, aged 17-22, are currently on the adventure of a lifetime – ten weeks in either India or Malaysia as part of the Raleigh Bermuda programme. Executive Director Kristin White explains, “Since Raleigh Bermuda’s inception in 2005, we’ve run a fully funded year long personal development programme for young Bermudians. The programme... Read more of this article

Thompson Finishes 26th In France

Bermuda’s D’Vario Thompson played in his second International JR. Squash tournament of the year in the City of Lille France. Thompson took part in the Under 17 Age Group Division finishing 26th in the group of 60 in the 2012 French JR. Open. Thompson finished the tournament with 3 wins and 3 defeats, with George Parker of the UK winning... Read more of this article

BMA: “Market Remained Resilient”

The Bermuda Monetary Authority said the Bermuda insurance market “remained resilient in 2011 and continued to absorb the impact of market issues, including a continued softening of prices, low interest rates and above-average losses from natural catastrophes.” With respect to 2011 registrations, the Authority registered a total of 54 new... Read more of this article

Point Shares Bridge Closure

“Motorists should be aware that the Point Shares Bridge in Pembroke will be closed to four wheeled vehicles at the times indicated below due to bridge repairs,” a police spokesperson said. “The bridge will be closed starting Thursday February 23rd until Friday March 9th, 2012 during the following times: 9:00am – 12:00pm and 2:00pm... Read more of this article