Category: Business
Bank Of Butterfield Reports 2017 Q4 Results
The Bank of Butterfield announced financial results for the fourth quarter and year ended December 31, 2017. Net income for the year ended December 31, 2017 was $153.3 million, or $2.76 per diluted common share, compared to $115.9 million or $1.18 per common share for the year ended December 31, 2016. Core net income1 for the year ended December 31,... Read more of this article
Butterfield To Acquire Deutsche Bank’s Business
The Bank of Butterfield today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody business in the Cayman Islands, Jersey and Guernsey. The filing stated, “The Bank of N.T. Butterfield & Son Limited today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody... Read more of this article
Wholesalers: ‘Education Is Key, Not Sugar Tax’
[Written by Don Burgess] Beverage and food wholesalers say education is the key to Bermuda’s obesity problem, and not a tax on sugary items. The Ministry of Health announced on January 4 that it is consulting the public on the proposed implementation of a tax on to the importation of sugar, candies, sodas and other beverages with added sugar... Read more of this article
Tea Blends Inspired By ‘Flavors Of Bermuda’
What started out as a “dream” has now become reality for 25-year-old entrepreneur Kelsea Williams, whose tea business offers a variety of products, including a special ’Bermuda Collection’ with offerings such as Morning Glory, Sippin’ Swizzle, Hypnotic Hibiscus and Bermuda Breeze. Since returning to Bermuda from University,... Read more of this article
MultiStrat Completes Casualty Linked Security
MultiStrat announced the completion of another Casualty Linked Security [CLS] transaction of high-frequency low-severity casualty business. “The transaction was backed by a $14 billion global alternative asset manager. During the program, the investor will invest $28 million in a Bermuda based segregated account to support total liabilities associated... Read more of this article
Bermuda Stock Exchange Report: Feb 14 2018
February 14 saw 5,511 shares trade on the Bermuda Stock Exchange, valued at $212,924.00 BD. 5,381 shares were traded by Bank of N.T. Butterfield Ltd, closing up 1.9% at $39.25 per share, while another 130 shares were traded by Somers Limited, closing even at $14.25 per share. The BSX finished at 2,280.79, up 1.50% on the day. There was 1 advance,... Read more of this article
Tax Reform Commission Members Announced
Ronald Simmons, Opposition Leader Jeanne Atherden, Junior Finance Minister Wayne Furbert, Donald Scott, Mitch Blaser, Craig Simmons, and Brian Holdipp will serve on the Tax Reform Commission, Premier David Burt announced today. Premier Burt, who is also the Minister of Finance, said, “In two days, I will be unveiling the country’s next budget.... Read more of this article
Utilico To Re-Domicile From Bermuda To UK
Utilico Emerging Markets will be re-domiciling from Bermuda to the United Kingdom, the company announced today. The company, a closed-end investment company, said, “The Board of Utilico Emerging Markets Limited announced on 21 November 2017 that it was considering options for a possible change in its domicile. “Following a review, the Board... Read more of this article
Dunkley To Speak On Paradise Papers In Miami
Former Premier Michael Dunkley will discuss the ‘Paradise Papers’ at the upcoming OffshoreAlert Conference in Florida, where he will take part in a session entitled ‘The ICIJ v. OFCs: Witch-Hunt Or Public Service?’ OffshoreAlert’s announcement said, “A former Government leader of Bermuda – where leading offshore... Read more of this article
Argus, BF&M Donate $100K For New Facility
Argus Group and BF&M have made a joint donation of $100,000 to the Bermuda Diabetes Association [BDA], with each company set to contribute $50,000, towards the development of a new, larger facility at the BDA’s new location at 22 Princess Street. “The funds will be used to develop a comprehensive diabetes education and resource centre... Read more of this article
Lloyd Fray To Leave CIO Post At End Of Month
Government confirmed that Lloyd Fray — who was appointed in November of last year — will be stepping down from his post as Chief Information Officer [CIO] at the end of this month. A Government spokesperson said, “The Government of Bermuda does not comment on internal personnel matters, however the Government can confirm that Lloyd Fray... Read more of this article
Farming Technology And Agriculture Insurance
Bermuda-based PartnerRe announced a deal with Farmers Edge, a global leader in decision agriculture, that will help insurers to close the insurance gap among farmers across all continents. “This exclusive, four-year agreement between Farmers Edge and PartnerRe brings together precision farming technology and agriculture insurance in a landmark... Read more of this article
