Author Archive: Bernews1

Guilty Plea: Obstruction & Resisting Arrest

32-year-old Raymond Burgess, who had been sprayed with Captor spray and then Taser’ed, this morning [May 9] pleaded guilty to three charges. The three charges, obstructing Police, assaulting a Police officer, and resisting arrest; stemmed from an attempt by Police to search Mr Burgess after Police had formed the opinion that Mr Burgess might be in... Read more of this article

Alterra: Incorporate Reinsurance Co. in Brazil

Bermuda based Alterra Capital Holdings Limited today [May 9] announced that it is planning to apply for a license to incorporate a local reinsurance company in Brazil. W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, commented: “It has been just over a year since we set up Alterra Latin America, and we are continuing to... Read more of this article

Visitor Dies Following Golf Cart Accident

[Updated] A 73-year-old female tourist from Virginia passed away yesterday [May 8] following an accident which occurred on the the Rosewood Tuckers Point Club property. Details are unclear at this time, however we understand the lady was injured in an accident involving a golf cart and passed away the following day. Tucker’s Point have not yet... Read more of this article

Miss Hamilton Parish South: Rachel Sawden

In the sixth of a series of profiles of contestants, Bernews today spotlights 25-year-old Rachel Sawden who is representing Hamilton Parish South in the upcoming Miss Bermuda Pageant. A former student of Bermuda High School for Girls and the Saltus Graduate Year, she has a B.A. in Psychology from McGill University. “My acceptance to —... Read more of this article

Man Charged: Possession Of Drug Equipment

This morning [May 9] in Magistrates Court, 45-year-old David Wayne Desilva of Pembroke was charged with two counts of possession of drug equipment. The charges alleged that on 3rd May, in Pembroke Parish, he was in possession of a cylindrical objects fitted in connection with the use of a controlled drug. He pleaded not guilty to both charges and was... Read more of this article

Arch Shareholders Give Nod To Stock Split

Bermuda-based Arch Capital Group Ltd. today [May 9] announced that its shareholders have approved a three-for-one split of the firm’s common shares. Holders of common shares as of the close of business on May 6, 2011 — the record date — will receive two additional common shares for each common share owned. Shareholders’ accounts will... Read more of this article

Two Teenage Girls Charged After Fight

Following a fight in Hamilton last week, two teenage girls were this morning [May 9] charged with “affray” in Magistrates Court. Both pleaded guilty, and after hearing evidence and explanations, both were given Conditional Discharges with supervision. The charges stem from an altercation between the two girls outside Digicel on Court Street at 5:00pm... Read more of this article

LOM (Holdings) Limited: Share Repurchase

In a filing to the Bermuda Stock Exchange (BSX), LOM (Holdings) Limited announced that in April, 2011 it purchased 14,500 of its own shares for cancellation at the average price of $3.07 per share. LOM is authorized to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades. The number of shares... Read more of this article

Stand Up Bermuda: June 26 Peace Rally

A newly formed anti-violence group is calling on the community to join them on June 26th for the ‘Stand Up For Change Peace Rally.’ ‘Stand Up Bermuda’ is organizing the event, which will see two groups marching from both Dockyard and St.George’s starting from 12 noon. The march will end at City Hall, where the group will... Read more of this article

BSX: Four Decades of Securities Trading

The Bermuda Stock Exchange [BSX] is celebrating its fortieth anniversary and, to mark the milestone, has produced a commemorative publication entitled “Four Decades of Securities Trading”. From ping pong balls to state-of-the-art technology the publication traces the Exchange’s vibrant forty-year history and seeks to offer insight into the Exchange’s... Read more of this article

Hiscox Predict Catastrophe Rate Increases

Bermuda-based Hiscox, the second-largest Lloyd’s of London insurer by market value, said first-quarter sales fell eight percent amid a “tough” market — but anticipated a rate increase of up to 10 percent in US catastrophe reinsurance business for 2011. In a statement issued today [May 9], Hiscox said gross written premiums declined to $743.4... Read more of this article

NYT: States Seek To Keep Captives Onshore

Vermont, Utah, South Carolina, Delaware and Hawaii are among the states now reworking their regulatory frameworks to attract the lucrative private insurance deals once conducted almost exclusively in Bermuda, the “New York Times” reports today [May 9]. In order to keep high-end US re/insurance transactions onshore, a number of states are... Read more of this article