Category: Business
HSBC Bermuda Donates $5,725 To Coalition
This week HSBC Bank Bermuda employees made a donation of $5,725 to the Coalition for the Protection of Children [CPC]. This was the second consecutive year that funds were raised for charity by HSBC Operations, Services and Technology [HOST] employees, through their Denim Day donations collected over the previous year. HSBC’s Kevin Oates and Teresa... Read more of this article
OneBeacon To Be Acquired By IFC For $1.7B
OneBeacon Insurance Group, Ltd. has entered into a definitive merger agreement under which Intact Financial Corporation [IFC] will acquire all outstanding OneBeacon shares for $18.10 in cash per share. The $18.10 per share acquisition price is 1.65 times OneBeacon’s book value per share as of March 31, 2017, and represents a 14% premium to the... Read more of this article
CEO: “Solid First Quarter For White Mountains”
White Mountains Insurance Group, Ltd. reported March 31, 2017 book value per share of $793 and adjusted book value per share of $799. Book value per share and adjusted book value per share were each up 1% for the quarter, including dividends. Including the estimated net gain of $107 per share for the OneBeacon transaction, March 31, 2017 book value... Read more of this article
RenaissanceRe Report Net Income Of $92.4M
Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to RenaissanceRe common shareholders of $92.4 million, or $2.25 per diluted common share, in the first quarter of 2017, compared to $128.0 million, or $2.95 per diluted common share, in the first quarter of 2016. Operating income available to RenaissanceRe common shareholders... Read more of this article
Blue Capital Report 2017 1Q Financial Results
Blue Capital Reinsurance Holdings Ltd, a Bermuda holding company that, through its operating subsidiaries, offers collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities, reported its financial results for the first quarter of 2017. The Company’s net income and operating income was $4.1 million... Read more of this article
Bermuda Stock Exchange Report: May 2 2017
May 2 saw 28,203 shares trade on the Bermuda Stock Exchange, valued at $810,569.00 BD. 18,003 shares were traded by Bank of N.T. Butterfield Ltd, closing up 3.1% at $33.50 per share, while another 10,200 shares were traded by BF&M Ltd, closing even at $20.60 per share. The BSX finished at 2,050.20, up 2.24% on the day. There was 1 advance, 0 declines,... Read more of this article
Estera Finalizes Acquisition Of Morgan Sharpe
Estera, a provider of global fiduciary and administration services, confirmed the successful completion of its acquisition of Guernsey-based Morgan Sharpe Administration Limited following receipt of regulatory approval. The deal completed on April 28th, and will see Morgan Sharpe, rebranded under the Estera name to become Estera Administration [Guernsey]... Read more of this article
Island Kaddy: New Golf Shop & Facility Opens
Island Kaddy recently opened on Reid Street, offering Bermuda’s first indoor golf training and entertainment facility, with a full range golf apparel retail as well as clinics for beginners and seasoned players. The facility also offers food and beverage service in their sports lounge area, where patrons can enjoy refreshments while viewing sports... Read more of this article
BCGC ‘Problem Gaming Council’ Appointments
Five Bermudians have been appointed to lead the charge for problem gambling in Bermuda, after an official announcement was made by the Bermuda Casino Gaming Commission [BCGC] last Friday. Council members include: Family Therapist and Counsellor Dr. Ernest Peets Jr.; Executive Director of the Mid-Atlantic Wellness Institute Dr. Sharon Apopa; Civil Servant... Read more of this article
Lawyers To Speak At Transcontinental Trust
The trust and wealth management sector in Bermuda has experienced significant growth in recent years and has become the choice offshore jurisdiction for the Transcontinental Trusts: International Forum for the last three years. A highlight on the trust industry calendar, the forum attracts over 250 delegates to the Island and will take place from 4-5... Read more of this article
Argo Group Financial Reporting Change
Bermuda-based Argo Group International Holdings, Ltd. will make a change to its reporting of financial results aligned with two reportable segments – U.S. Operations and International Operations – rather than the previously reported four segments, representing a simplification of its former operational framework. “This is an important step better... Read more of this article
Validus Completes ADM CRS Acquisition
Bermuda-based Validus Holdings Ltd. has completed its acquisition of Archer Daniels Midland Company’s [ADM] Crop Risk Services business [CRS]. CRS is a primary crop insurance managing general agent based in Decatur, Illinois with $555.0 million gross premiums written in 2016 and 1,170 agents across 36 states. Validus’ Chairman and Chief Executive... Read more of this article
