Author Archive: Bernews1

Bermuda Deemed Safe For Filipino Workers

Bermuda is one of 125 countries deemed safe for Filipino migrant workers — with Libya, Afghanistan and Iraq among the the 41 countries the Philippine Overseas Employment Administration [POEA] named yesterday [Nov. 1] where overseas Filipino workers [OFWs] are barred from going. The Philippine government agency declared the ban due to the countries’... Read more of this article

Bermuda’s Canada Briefing Schedule Unveiled

Business Bermuda and the Bermuda Stock Exchange will host their 3rd Annual Bermuda Briefing in Toronto on Thursday, November 17th beginning at 2 p.m. and closing with a networking cocktail event. The briefing will be held in the offices of co-sponsor, Bennett Jones LLP, 34th Floor, First Canadian Place, Toronto. Canada and Bermuda are active trading... Read more of this article

Brian Duperreault: “Double-Digit Growth”

Marsh & McLennan Companies, Inc., the global professional services firm headed by Bermudian Brian Duperreault, today [Nov.2] reported financial results for the third quarter ended September 30, 2011. Mr. Duperreault, President and CEO, said: “Third quarter results reflect our ongoing strong performance. All of our businesses continued to... Read more of this article

Microsoft Seeks To Expand Benefit Risks

The Microsoft Corp. is seeking US Labour Department approval to expand the benefit risks funded through an American branch of its Bermuda captive. Microsoft, based in Washington State, wants to use the Vermont subsidiary of its captive, Bermuda-based Orcas Ltd., to reinsure life insurance and accidental death and dismemberment policies written by Prudential... Read more of this article

Elbow Beach General Manager To Leave

Confirming speculation, Elbow Beach has confirmed that their General Manager Frank Stocek will be leaving his position, with the hotel saying he is “being transferred to one of our sister properties in Malaysia, the Mandarin Oriental, Kuala Lumpur.” Mr. Stocek first joined Mandarin Oriental Hotel Group as a management trainee in 1983 and... Read more of this article

Newport Bermuda Race Schedule Announced

As the June 15, 2012 start of the 48th Newport Bermuda Race — affectionately known by sailors as “The Thrash to the Onion Patch” — approaches, the organising committee has created a schedule and programme that includes some interesting innovations, such as a novel approach to the safety-at-sea seminar that allows different levels of... Read more of this article

Alterra Reports Third Quarter 2011 Results

Bermuda ‘s Alterra Capital Holdings Limited yesterday [Nov.1] reported net income of $48.4 million, or $0.46 per diluted share, for the third quarter of 2011, compared to net income of $82.8 million, or $0.70 per diluted share, for the same quarter of 2010. Net operating income for the third quarter of 2011 was $50.1 million, or $0.47 per diluted... Read more of this article

Police Name Accident Victim: Landro Minors

The Police have named the man who died last night after a road accident as Landro Minors. Around 9:45pm last night [Nov.1] Mr Minors was seriously injured in a motorcycle accident in which his bike collided with a wall. He was rushed to the hospital via ambulance where he subsequently succumbed to his injuries.” A police spokesperson said, “The... Read more of this article

Tycoon Drops Bid For Bermuda Documents

Australian-born businessman Peter Lowy has called an end to a long-running US legal challenge in which he sought thousands of pages of documents –including financial dossiers from Bermuda — related to an international investigation into his tax affairs. US media outlets report Justice Susan Illston, of the US District Court for the northern... Read more of this article

Conyers On Bermuda And Islamic Finance

Bermuda’s efforts to establish itself as a global leader in Islamic finance is now an economic priority for the island. And on the eve of this month’s 18th Annual World Islamic Banking Conference in Bahrain, international Bermuda law firm Conyers, Dill & Pearman has been reminding potential clients in the Muslim world why the island’s... Read more of this article

Video: Premier Announces Cabinet Reshuffle

[Updated] Officials have confirmed there will be a Parliamentary swearing-in ceremony this morning [Nov.2] at 11:30am at Government House, although there was no indication as to who will be taking oaths of office. Update 11.28am: The ceremony has not yet begun, however numerous people are present at Government House. Update 11.37am: Cabinet Changes... Read more of this article

15-Yr-Old Charged With Murder

[Updated] This morning [Nov.2] in Magistrates Court a 15-year-old male was charged with the murder of 18-year-old Malcolm Outerbridge on 28th of October in Warwick. Rashaun Codrington was charged with murder and possession of a bladed article. He was wearing a white t-shirt and jeans, and stood quietly through the proceedings. Because of his age, he... Read more of this article