Author Archive: Bernews1

Car Overturns On Happy Valley

Around 1:40pm yesterday [Feb.9], police responded to a single vehicle accident on Happy Valley Road in Devonshire. “It appears that a car was travelling along Happy Valley Road when it collided with an embankment and overturned,” said a police spokesperson. “The car was extensively damaged however, the driver, a 55 year old Pembroke... Read more of this article

Everest: Disasters Had ‘Significant Impact’

Bermuda’s Everest Re Group reported fourth quarter 2011 net income of $41.0 million, or $0.76 per diluted common share, compared to $302.5 million, or $5.51 per diluted common share, for the same period last year. Excluding net realized capital gains and losses, the after-tax operating loss was $50.7 million, or $0.94 per diluted common share,... Read more of this article

Upcoming: Annual 5K Charity Walk

For the third year, the Argus Group and The Centre on Philanthropy are providing the community with a special way to give back –Argus Walks the Walk with The Centre on Philanthropy 5K charity walk. This annual event is a unique fundraiser in that participants choose the charity or nonprofit that they want a portion of their entry fee to benefit. The... Read more of this article

Catlin Group’s Profits Plunge In 2011

Bermuda-based property/casualty insurer and reinsurer Catlin Group’s net pre-tax profits plunged after catastrophe claims soared in 2011. Catlin, the second-biggest Lloyd’s of London insurer by market value, reported profits for the year to the end of December fell to $71 million — down from $406 million in 2010. Highlights for the... Read more of this article

Flagstone Estimates Thai Floods: $13-18M

Flagstone Reinsurance Holdings, S.A. announced the impact on 2011 fourth quarter results from continuing operations is estimated to be $50 to $55 million, net of reinstatement premiums and retrocession. The Company’s preliminary estimates for losses from flooding in Thailand during the third and fourth quarter of 2011 is expected to negatively impact... Read more of this article

Wayne Furbert: ‘Time To Dream Again’

Tourism & Business Development Minister Wayne Furbert last night [Feb.8] said the island’s hospitality industry is on the cusp of a major renaissance, imploring locals to dream bold dreams about its potential. Speaking to the Sandys Rotary Club, the Minister invoked the examples of Civil Rights leader Dr. Martin Luther King Jr., George Washington... Read more of this article

Photos: $45 Million Home For Sale

“Chelston”, one of Bermuda’s most impressive and historic properties has been listed for sale via Christie’s International Real Estate local affiliate John Sinclair for $45 million. The photos below, courtesy of JP Rouja/LookBermuda [link], show a glimpse of the property, which is located on Grape Bay Drive in Paget. Originally constructed... Read more of this article

Alterra: A Good ‘Relative Performance’

Alterra Capital Holdings Limited today [Feb. 9] reported net income of $30.9 million, or $0.30 per diluted share, for the fourth quarter of 2011, compared to net income of $79.7 million, or $0.69 per diluted share, for the same quarter of 2010. Net operating income for the fourth quarter of 2011 was $31.7 million, or $0.30 per diluted share, compared... Read more of this article

Video: Rugby Team Leaves For Vegas

A group of teenage Bermuda rugby players departed for Las Vegas yesterday [Feb.8] to take part in the Las Vegas Rugby Invitational. The team of 24 compromises players from Berkeley, Cedarbridge, MSA, Somersfield, Bermuda, Saltus and overseas schools. Bermuda has been drawn in Group B alongside BC 3, Stern Math and Science High School and the Notre... Read more of this article

Diamond Jubilee Commemorative Stamp

The Bermuda Philatelic Bureau announced the release of the Diamond Jubilee commemorative stamp series, which will be available today [Feb.9]. According to Philatelic Coordinator, Mr. Stanley Taylor, the series consists of six stamps featuring a unique blend of official portraits and informal photographs, one from each decade of the reign of Queen Elizabeth... Read more of this article

Photos: The People’s Market Reopens

Scores of shoppers made their way to Cedarbridge Academy on Saturday [Feb.4] for the re-opening of the People’s Market. Organizers say that visitors to the market can expect “weekly live entertainment, family activities [such as father-daughter races, scavenger hunts, etc] and other great additions that will keep Bermudians and tourists... Read more of this article

International Marriage Week Proclamation

The Minister of Youth, Families and Sports Glenn Blakeney issued a proclamation declaring the week long period from February 7th – 14th 2012 as International Marriage Week. Whereas, marriage in every known human society creates new families, binds men and women together in a network of affection, mutual aid and mutual obligation, commits fathers and... Read more of this article