Category: Business
Clarien Bank Net Profit Increases To $3.9M
Clarien Bank Limited announced a net profit for the year ended December 31, 2017 of $3.9m – a 220% increase over the previous 12 months. The bank said, “During 2017, Clarien continued to make significant investments in expanding its product portfolio, enhancing operational efficiencies and maintaining disciplined expense management while pursuing... Read more of this article
Hill To Provide New Water Treatment Services
Local entrepreneur Ananda Hill has founded a new company Aqua Care Ltd, which aims to provide a water treatment service that “gets rid of biofilm, bacteria, viruses, and spores from tanks and wells while keeping water safe to drink.” “Aqua Care Ltd can provide bacteria testing and treatment services by appointment or by subscription... Read more of this article
Kara Swisher To Speak At Convergence 2018
ILS [Bermuda] Ltd., organisers of Bermuda Convergence 2018, announced that Kara Swisher, Executive Editor of the Recode Decode Podcast and Co-Executive Producer of the Code Conference, will be one of the event’s keynote speakers. Before co-founding Recode and Code, Swisher co-produced and co-hosted The Wall Street Journal’s technology conference,... Read more of this article
A.M. Best Revise PartnerRe Outlooks To Positive
A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating [FSR] of A [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “a+” for most of the operating subsidiaries of Bermuda-based PartnerRe Ltd. A statement from the ratings agency said, “Concurrently, A.M. Best has upgraded the... Read more of this article
Sompo’s Transaction Risk Insurance In Europe
Sompo International Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that the company’s European Specialty platform has introduced a new Transaction Risk insurance line of business, expanding its Professional Lines insurance offerings in Europe. This new business targets parties on either side... Read more of this article
Watford Holding Exploring ‘Potential Avenues’
Watford Holdings Ltd confirmed it is “currently exploring potential avenues toward becoming a registered, publicly-traded company.” “No decisions have been taken at this point on the structure or timing of any such action, and no assurance can be given that such an action will be pursued,” the company said. Watford Re Ltd. is... Read more of this article
BMA Licensing Specialists To Speak At BII Event
Specialists from the Bermuda Monetary Authority will speak at a lunch and learn session examining the Insurance Licensing and Advisory Committee [ILAC] registration requirements for all classes of insurance entities. Organised by the Bermuda Insurance Institute [BII] and sponsored by EY and Conyers Dill & Pearman, it is aimed primarily at insurance... Read more of this article
Shipping Schedule: Week Starting June 16
The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday June 16th. On Saturday the Anthem of the Seas cruise ship is expected, on Sunday the Norwegian Dawn cruise ship and the Oleander container ship will arrive, and on Monday the Grandeur of the Seas and the Veendam cruise ships... Read more of this article
Queendom Images To Be Showcased In NY
Jayde Gibbons of Queendom Heights – one of the vendors selected during the recent BEDC contest to showcase their products in New York – is set to offer a stunning collection of images of Bermuda at the New York market. Six local entrepreneurs have been given a once-in-a-lifetime opportunity to go to New York City and take part in an exclusive... Read more of this article
Bermuda Stock Exchange Report: June 15 2018
June 15 saw 2,900 shares trade on the Bermuda Stock Exchange, valued at $49,880.00 BD. 2,900 shares were traded by BF&M Ltd, closing down 0.6% at $17.10 per share. The BSX finished at 2,722.77, down 0.03% on the day. There were 0 advances, 1 decline, and 60 remained unchanged. The full report for the day is available here [PDF], and the full report... Read more of this article
Bill To Create FinTech Development Fund
“The Government will introduce a Bill that will create a FinTech Development Fund for the specific purpose of holding funds to be used to invest and train Bermudians in the disciplines needed to support a FinTech economy,” Premier David Burt said in the House of Assembly today [June 15]. The Premier mentioned the various MOUs that have been... Read more of this article
Video: Premier David Burt On Fintech Plans
The Digital Asset Business Act requires companies that are licensed in the fintech space to have a physical presence here in Bermuda, within the next two months we may begin to see more companies begin setting up, and the legislation being passed seeks to ensure that business done on our shores will be done with the highest standards. This was from... Read more of this article
