Author Archive: Bernews1

Senator On Budget, Debt, Finances & More

This morning [Mar.16] Junior Minister for Finance Senator David Burt spoke on the 2011/12 Budget, saying “the headlines of the Budget are widely known, but I will take a little time to review them in more detail this morning.” The Senator went on to discuss various aspects including the planned open budget process, debt, revenue, the sinking... Read more of this article

Otti Simmons: A Tribute to Dr Barbara Ball

[Written by Ottiwell Simmons, former President of the BIU] There is no doubt that Dr. Ball was one of Bermuda’s most outstanding citizens. It is well known that Doc. spent all of her adult life caring for people, regardless of their station in life. She was extremely talented and accomplished in many disciplines. She was a medical practitioner, a... Read more of this article

Temp Closure of Gardens for Royal Visit

The east grounds of the Botanical Gardens will be closed to the public from sunset today [Mar.16] until 4 pm tomorrow to accommodate a private reception at Camden in honour of the Royal Visit to Bermuda of Their Royal Highnesses, the Count and Countess of Wessex. A spokesperson said, “The general public is advised that the east grounds of the... Read more of this article

Conference on Aging To Be Broadcast Next Week

The Conference on Aging will be carried live on the radio on Monday March 21st and Tuesday March 22nd, with 1450 AM Gold scheduled to broadcast from 9am to noon directly from the Conference’s venue at the Fairmont Hamilton Princess. A spokesperson said, “The aim of the conference is to gather stakeholders to start the process of creating an... Read more of this article

Regiment Preps For Camp Lejeune Trip

The Bermuda Regiment is in the final stages of preparation for deployment on its annual Overseas Camp at Camp Lejeune, the largest USMC facility in the eastern United States with over 50,000 military and civilians employed at the base. The United States Marine Corps [USMC] Base Camp Lejeune in North Carolina has been hosting the Bermuda Regiment for... Read more of this article

Montpelier Re: $0.10 Quarterly Dividend

The Board of Directors of Bermuda-based reinsurer Montpelier Re Holdings Ltd. has declared a quarterly dividend of $0.10 per Common Share. The dividend is payable on or before April 15, 2011 to all of the shareholders of record as of 31 March, 2011. Montpelier recently estimates its pretax net loss from the New Zealand earthquake will be $75 million,... Read more of this article

ACE Japan Quake Estimate: $200-$250 Million

Today [Mar.16] ACE Limited announced that preliminary net after-tax losses in the first quarter from natural catastrophes, including the New Zealand earthquake, Australian floods, Cyclone Yasi, and the U.S. winter storms, are estimated to be $210 million. ACE also estimated losses in the first quarter related to the Japanese earthquake event will range... Read more of this article

Emissions Control on TCD, Costs & More

Bermuda Emissions Control Ltd [BECL] said they wish to clarify a February media report about the hearings of the Public Accounts Committee. The first sentence below is the taken from the report, and the box quote contains BECL’s reply. ‘He was asked if TCD could run the facility cheaper than BECL, he said: “Sure. We could run it for $1.4 million... Read more of this article

Lancashire: Egypt, Aussie, NZ & Japan Estimates

Bermuda based re/insurer Lancashire Holdings Limited announced an estimated loss of $45 to $55 million for the New Zealand earthquake, the recent Australian weather related events, and losses arising from the recent political unrest in Egypt. The company said they “believe that it is premature to estimate” what costs they may bear from the... Read more of this article

Aspen: Aussie Flood & NZ Quake Loss Estimates

Aspen Insurance Holdings Limited announced an estimate of losses from the 2011 Australian Floods and Cyclone Yasi, as well the New Zealand Earthquake of February 21, 2011. Their initial estimate of losses from the 2011 Australian Brisbane Floods which took place between January 10 and 17, 2011, is in the region of US$30 million post tax and net of... Read more of this article

Tucker’s Point to Create Cedar Grove

Tucker’s Point Hotel has announced that “A full 12-acre reforestation programme will be implemented should the SDO be passed.” Last week Tucker’s Point spokesperson said if the SDO passes in the Senate, it will donate over 28 acres of land to Bermuda. Tucker’s Point recently applied for a Special Development Order [SDO]... Read more of this article

Visiting Speaker Lectures On African Diaspora

[Updated] Last night [Mar.15], at the Cathedral Hall on Church Street, to an audience of around 150 people, Dr Runoko Rashidi presented an hour-long slideshow and talk giving his perspective on the ‘African Diaspora: Global African Presence, Ancient and Modern.’ He led off by saying that many in the West, African-Americans in particular,... Read more of this article