Author Archive: Bernews1

11th Named Tropical Storm Of Season Forms

This morning [Oct 3] a mass of low pressure over the southeastern Gulf of Mexico became Tropical Storm Karen, the season’s eleventh named storm. The Bermuda Weather Service said Tropical Storm Karen is not a threat to Bermuda at this time, and its closest point of approach to Bermuda within 72 hrs is forecast to be 1085 nm to the west at 10am... Read more of this article

Fairfax Completes American Safety Acquisition

American Safety Insurance Holdings, Ltd. has successfully completed its previously announced acquisition by Fairfax Financial Holdings Limited. American Safety shareholders will receive $30.25 in cash for each common share they owned as of the effective time of the merger, without interest and less any applicable withholding taxes. Trading of American... Read more of this article

MJM To Host Global Insurance Lawyers Group

Law firm MJM Limited will host Insuralex, a worldwide network of independent insurance and reinsurance lawyers dedicated to the insurance and risk management communities, in Bermuda from November 6-9 for its Mid-Year Meeting. MJM is the Bermuda member of Insuralex and this is the first time that the meeting has been hosted in Bermuda. Devereux Chambers,... Read more of this article

BII Host Annual Student Recognition Luncheon

The Bermuda Insurance Institute [BII] hosted their annual Student Recognition Luncheon at the Harbourfront Restaurant on September 24, 2013. Over 140 persons receiving more than 160 insurance designations were recognized for their diligence and commitment to professional excellence. The event opened with welcoming remarks from Chris Fisher, Chairman... Read more of this article

MPs Pass Casino, Municipality & Gas Tax Bills

In an extra sitting of the House of Assembly that lasted until 2am this morning [Oct 3], Members of Parliament passed the Casino Cruise Ship Act, the Municipalities Amendment Act and the Corporation of St. Georges Fund Levy Act. The Casino Cruise Ship Act will see cruise ships allowed to open their casinos while docked in Bermuda, the Municipalities... Read more of this article

NewLead Announces Reverse Split Of Shares

Bermuda registered NewLead Holdings Ltd. revealed on Tuesday [Oct 1] that a 1-for-15 reverse stock split of its common shares has been approved by the Company’s Board of Directors and by written consent of a majority of shareholders, effective upon the commencement of trading on October 17, 2013. Due to the advance publication and notice requirements... Read more of this article

Video: U17 Women’s Football Team Returns

[Updated with video] The Bermuda U17 Women’s National team returned to the island this evening [Oct 2] after a successful showing at the Caribbean Football Union U17 Women’s Regional World Cup Qualifying Tournament held in Port au Prince, Haiti. Excitement filled the air as the team exited the airport, with the sounds of air horns and cheers as... Read more of this article

Joshua Alvera Wins Peter Mitchell Scholarship

PwC announced today [Oct 2] that their 2013 Peter Mitchell Scholarship award has been granted to Joshua Alvera. The prestigious scholarship is designed to help Bermudian students to further their educational goals, boost their career prospects and give them a bright future in professional services. “On behalf of PwC, I am pleased to offer my congratulations... Read more of this article

SAGE Commission Gets Two Week Extension

The SAGE Commission has received an an additional two weeks in order to complete their final report, Minister of Finance Bob Richards said today [Oct 1] in the House of Assembly. Minister Richards said the SAGE Commission commenced its work as soon as they were officially appointed on April 15th 2013 and based on the provisions in the legislation were... Read more of this article

‘STEPS To A Well Bermuda’ Survey Launched

The Minister of Health and Seniors Patricia Gordon-Pamplin today [Oct 2] launched the ‘STEPS to a Well Bermuda’ Survey, a health survey involving a questionnaire, physical body measurements and collection of clinical samples for biochemical analysis. 2656 households have been selected using simple random sampling. The ‘Kish Method’ will... Read more of this article

City Expresses Concerns With Municipalities Act

The City of Hamilton Council today [Oct 2] delivered letters to each MP with their concerns about aspects of the Municipalities Act 2013, as tabled in the House of Assembly on Friday [Sept 27] Mayor of Hamilton Graeme Outerbridge said, “Two pieces of communication were hand delivered and emailed to the Members of Parliament today by the City of Hamilton.... Read more of this article

MPs Pass Bill Allowing Ship Casinos To Open

[Updated: The Bill passed] Members of Parliament are set to decide whether cruise ships should be allowed to open their ships in port, with the debate presently ongoing in the House of Assembly today [Oct 2]. Last month, the Bill [PDF] was tabled to allow cruise ship passengers to gamble at the casinos on board cruise ships while they are docked in... Read more of this article