Category: Business
Alain Fournier Appointed As Head Of Kane LPI
Kane LPI, specialists in the development and management of administration solutions in the international Life, Pension & Investment sector, announced the appointment of Alain Fournier as Head of Kane LPI Fund Administration Services, with immediate effect. Based in the firm’s Bermuda head office, Mr. Fournier will be responsible for all aspects... Read more of this article
A.M. Best Revises Outlooks For AXIS Capital
A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “aa-” of the operating subsidiaries of Bermuda-based AXIS Capital Holdings. Additionally, A.M. Best has revised the outlook to negative from stable and affirmed the Long-Term... Read more of this article
Bermuda Stock Exchange Report: Feb 19 2018
February 19 saw 10,100 shares trade on the Bermuda Stock Exchange, valued at $138,330.00 BD. 9,000 shares were traded by Ascendant Group Limited, closing even at $10.00 per share, while another 1,100 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.5% at $44.00 per share. The BSX finished at 2,494.43, up 0.36% on the day. There... Read more of this article
Bermuda Regulatory Authority CEO Steps Down
The Regulatory Authority of Bermuda has announced a change of leadership, with Chief Executive Matthew Copeland stepping down from the post, effective immediately. The Authority Chair, Angela Berry, on behalf of the board, “thanked Mr. Copeland for his two years of service with the Regulatory Authority and wished him well in his future endeavours.” Ms.... Read more of this article
Argus Partners With A Piece Of The Rock
Argus has announced its $25,000 sponsorship of A Piece of the Rock’s new community outreach programme. A spokesperson said, “A Piece of the Rock, a prominent road safety documentary and campaign, is designed to raise awareness of the core issues related to road safety in Bermuda and encourage the public to take action and personal responsibility... Read more of this article
2017 National Economic Report Of Bermuda
The Ministry of Finance recently released the 2017 National Economic Report Of Bermuda, with the 31-page document providing an overview of the island’s economy. The report said, “The Ministry of Finance estimates that Bermuda’s GDP mayhave increased by 0.75% – 1.25% per cent in 2017 following a marginal contraction of 0.1 per cent in... Read more of this article
Tax Reductions For Those Earning Under $96K
Government will reduce payroll tax for those earning less than $96,000, eliminate the employer portion of payroll tax for any disabled employee, and reform the ‘notional salaries’ payroll tax concept, Premier and Minister of Finance David Burt announced. Payroll Taxes Are ‘Enemy Of Job Creation’ In delivering the 2018 Budget... Read more of this article
Shipping Schedule: Week Starting February 17
The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday February 17th. On Monday the Oleander container ship and the Pacifica general cargo ship are expected, on Tuesday the Somers Isles container ship will arrive, and on Thursday the Bermuda Islander container ship is scheduled... Read more of this article
Fitch Affirms RenRe’s Ratings, Outlook Stable
Fitch Ratings has affirmed the ratings of RenaissanceRe Holdings Ltd. [RNR] and its subsidiaries, including the Insurer Financial Strength [IFS] rating of Renaissance Reinsurance Ltd. at ‘A+’ ['Strong'] and RNR’s senior unsecured debt at ‘A-’ and Issuer Default Rating [IDR] at ‘A’. The Rating Outlook is Stable.... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced that its Board of Directors declared a quarterly dividend on February 15, 2018 of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on April 2, 2018 to common shareholders of record as of March 15, 2018. Related Stories XL To Delist Outstanding Debt Securities XL Results Impacted By... Read more of this article
Bermuda Stock Exchange Report: Feb 16 2018
February 16 saw 15,594 shares trade on the Bermuda Stock Exchange, valued at $684,636.00 BD. 15,594 shares were traded by Bank of N.T. Butterfield Ltd, closing up 11.6% at $43.80 per share. The BSX finished at 2,485.43, up 8.97% on the day. There was 1 advance, 0 declines, and 60 remained unchanged. The full report for the day is available here... Read more of this article
Premier: 60/40 Ownership Rule To Be Revised
“We will increase access to capital for Bermudians by reforming the 60/40 rule to one that only requires 40% Bermudian ownership in order to operate in the domestic economy,” Premier and Minister of Finance David Burt said in today’s 2018/19 Budget. The 60/40 rule generally requires local companies to be at least 60% Bermudian owned, so this... Read more of this article
