Author Archive: Bernews1

BTA CEO: Potential Investors Express Concern

Saying he does not wish to take sides in the recent labour dispute, Bermuda Tourism Authority CEO Bill Hanbury urged all those concerned to “think of the big picture,” saying they have already had “emails from potential investors expressing concern.” After the Fairmont Hamilton Princess laid off 10 workers, five of whom were... Read more of this article

51 Year Old In Critical Condition After Collision

[Updated] As of this writing [3.24pm] there are traffic delays in South Road in Warwick [by Marley Beach] due to a collision involving a truck and a motorcycle. A police spokesperson said, “Around 3pm Thursday, February 6th first responders were dispatched to a reported serious collision on South Road in Warwick in the vicinity of Marley Beach. “Details... Read more of this article

Tonight’s Gaming Town Hall Meeting Cancelled

Tonight’s [Feb 6] Town Hall meeting on Integrated Resort Casino Gaming — scheduled to be held at the Pier 6 Complex in Hamilton from 6pm to 8pm — has been postponed due to the ongoing labour dispute, the Government said this morning. The labour dispute between the BIU and Fairmont Hamilton Princess has brought public transportation to... Read more of this article

Series Of Burglaries in Warwick & Sandys Parish

A series of daytime burglaries occurred in Sandys and Warwick earlier this week, prompting the police to issue an advisory which follows in full below. An apparent series of reported daytime burglaries occurred in the Overplus Lane, Sandys parish area as well as at Glenwood Park Crescent and South Road, Warwick on Monday, February 3rd and Tuesday, February... Read more of this article

Assured Guaranty Declares $0.11 Dividend

Bermuda-based Assured Guaranty Ltd.declared a quarterly dividend of $0.11 per common share, an increase of 10% from the dividend of $0.10 per common share that was declared on November 7, 2013. Assured Guaranty has raised its quarterly dividend for three consecutive years, bringing the total increase to 144% since its November 2011 dividend payment. The... Read more of this article

RenRe Report ‘Strong Financial Performance’

Bermuda-based RenaissanceRe Holdings Ltd reported net income available to RenaissanceRe common shareholders of $268.7 million, or $6.05 per diluted common share in the fourth quarter of 2013, compared to $41.7 million, or $0.87 per diluted common share in the fourth quarter of 2012. Operating income available to RenaissanceRe common shareholders was... Read more of this article

Videos/Photos: March, Minister & BIU President

The labour dispute between the Fairmont Hamilton Princess and Bermuda Industrial Union escalated today [Feb 5], with numerous BIU members walking off the job to march through Hamilton. Many of the staff from both Fairmont Hotels, the Post Office, Marine & Ports, Department of Parks, Works & Engineering and other unionized divisions came out... Read more of this article

Validus Quarterly Dividend, Share Repurchase

Bermuda-based Validus Holdings, Ltd. has declared a quarterly dividend of $0.30 per common share and $0.30 per common share equivalent for which each outstanding warrant is exercisable. The dividend is payable on March 31, 2014 to shareholders and warrant holders of record on March 14, 2014. In addition, Validus has authorized an increase in the Company’s... Read more of this article

Updated: BIU Calls For Members To Leave Work

[Updated] People are gathered at the Bermuda Industrial Union for a Special General Council meeting this morning [Feb 5], called as a result of the labour dispute between the Union and the Fairmont Hamilton Princess. The issue began a few days ago when ten people were made redundant at the Fairmont Hamilton Princess, with the hotel saying that due... Read more of this article

No Bus Service Or Ferry Service [Back On]

[Updated] We are running a live blog covering all aspects of today’s [Feb 5] industrial action, however we are just quickly posting bus and ferry information with a separate headline to ensure those that rely on public transportation do not miss it. As it stands now [5.00pm], the buses are running, but will not be running tomorrow. Marine &... Read more of this article

AXIS Reports Q4 Operating Income: $159M

Bermuda-based AXIS Capital Holdings Limited reported a net income available to common shareholders for the fourth quarter of 2013 of $172 million, or $1.52 per diluted common share, compared with a net loss of $19 million, or $0.16 per diluted common share, for the fourth quarter of 2012. Net income available to common shareholders for the full year... Read more of this article

CableVision, WOW To Offer Olympic Coverage

Bermuda CableVision and WOW announced that, in a joint effort, they have resolved the rights issues surrounding televised coverage of the 2014 Winter Olympic Games, which will take place from February 7 – 23, in Sochi, Russia. “CableVision and WOW, have secured the rights to the Olympics programming. This includes coverage on the broadcast channels... Read more of this article