Author Archive: Bernews1

Video: Craig Cannonier’s Election Victory Speech

“Bermuda has seen a new day. It’s new Bermuda and a new day in politics,” Premier-elect Craig Cannonier told jubilant supporters who gathered at an OBA victory rally following their 19-17 victory at the polls. Victory Speech: “Bermuda this is our moment, this is our day to start moving forward….truly leaving no one behind,”... Read more of this article

Video: Paula Cox Addresses PLP Supporters

After 14 years as the ruling party, the Progressive Labour Party was swept out of power, with the One Bermuda Alliance winning a 19-17 majority at the polls. Paula Cox lost her Devonshire North West seat to Glen Smith, becoming the first sitting Premier to lose her seat since the introduction of the Westminster-style political system to Bermuda more... Read more of this article

Photos/Video: OBA Supporters Celebrate Victory

Approximately 18 months after its official formation, the One Bermuda Alliance won its first general election, sweeping to a 19-17 victory at the polls. Supporters gathered at Vasco after the polls closed, where the mood was jubilant, with a sea of red flags waving as people celebrated the victory. The OBA won 52 per cent of the popular vote with the... Read more of this article

Axis Capital Announces Quarterly Dividend

Bermuda-based Axis Capital announced a quarterly dividend today [Dec. 17] with investors of record on Monday, December 31 to be paid a dividend of $0.25 per share on Tuesday, January 15. This represents a $1.00 annualised dividend and a dividend yield of 2.81 per cent. A number of analysts have recently weighed in on Axis shares. Analysts at Goldman... Read more of this article

BFIS Has Awarded $4.3 Million In Scholarships

In his report to the annual general meeting of The Bermuda Foundation For Insurance Studies [BFIS] on December 5, chairman Michael Fisher said the organisation was proud to report it has now awarded scholarships with a total value of $4.3 million to 119 students since our inception some 16 years ago. Mr. Fisher went on to say, “The global economic... Read more of this article

Bermuda Factors In Maine Tsunami Planning

Bermuda features in a worst case tsunami scenario being studied by emergency management specialists in Maine. That state’s Cumberland County last week accepted a $39,000 federal grant to help pay for educational materials associated with a tsunami threat reports the “Portland Press Herald@ today [Dec. 17]. “In the hierarchy of threats... Read more of this article

HSBC Executive Recruited By Barclays

Global banker Barclays has appointed HSBC Bermuda executive Lincoln Fritz [pictured] to be Head of Cash Management US within its corporate banking team, a new role based in New York. At Barclays, Mr. Fritz will be responsible for driving the delivery of cash management services to multi-national companies, non-bank financial institutions, and large... Read more of this article

Christmas Cheer For Church Food Banks

Christmas came early for two Bermuda food banks offering assistance to families who require a helping hand over the holiday period. On December 13 and 14 the Charles Taylor Bermuda office arranged for charitable donations to be delivered to two food banks being operated by St. John’s Anglican Church and the 7th Day Adventist Church. This is the second... Read more of this article

Two Arrested On Impaired Driving Charges

Two men were arrested arrested on suspicion of impaired driving yesterday [Dec. 16] in incidents at opposite ends of the island. A Bermuda Police Service spokesman said at around 1:40 am on Sunday, police officers were monitoring traffic along Middle Road in Sandys parish when a white car sped through the area. Officers followed the vehicle and caused... Read more of this article

Nordic American Tankers Acquires Scandic

Bermuda-incorporated Nordic American Tankers Ltd. announced today [Dec.17] the company will acquire Scandic American Shipping Ltd. Nordic American Tankers Limited [NAT] was incorporated in Bermuda in 1995 Following an agreement between Scandic and NAT, NAT has announced that it will acquire 100 per cent of the shares of Scandic, its management company... Read more of this article

Appleby Advises On Billion Dollar Deal

British multinational legal firms Freshfields Bruckhaus Deringer, Linklaters and Slaughter & May have won advisory roles on a $1.1 billion offer to take private Bermuda-incorporated, Hong Kong-listed investment holding company Guoco Group. According to a report in the British legal journal “The Lawyer” today [Dec. 17], the potential... Read more of this article

Paula Cox Loses Her Devonshire North West Seat

Premier Paula Cox has lost her Devonshire North West parliamentary seat to Glen Smith in what could be considered one of the most dramatic upsets in Bermuda party politics since 1968. She is the first sitting Premier to lose her seat since the introduction of the Westminster-style political system to Bermuda more than 40 years ago and only the third... Read more of this article