Category: Business
Minister: Meetings With NASA & Satellite Industry
Speaking in the House of Assembly, Minister of Economic Development Dr Grant Gibbons provided an overview on meetings he attended in Washington DC, where he discussed a number of topics including the relationship between NASA and Bermuda, the Cybersecurity framework, satellite networks and more. The Minister said, “While in Washington, I also... Read more of this article
Court Rules In Favour Of Retired BELCO Workers
Over 100 retired BELCO employees brought legal action over a change to their health insurance policies, with the Court ruling that none of the other options offered by BELCO would satisfy the Promise the company had made to them, adding that the Plaintiffs seek an order that BELCO shall continue to honour the terms of the Promise and “they shall... Read more of this article
A.M. Best Revises PMG Outlook To Stable
A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Rating of “a-” of PMG Assurance Ltd. [PMG] [Bermuda]. A statement from the ratings agency said, “The ratings reflect PMG’s excellent capitalization, historically strong operating performance... Read more of this article
Bermuda Stock Exchange Report: Feb 17 2017
February 17 saw 3,416 shares trade on the Bermuda Stock Exchange, valued at $72,584.10 BD. 1,466 shares were traded by Bank of N.T. Butterfield Ltd, closing even at $32.60 per share, while another 950 shares were traded by BF&M Ltd, closing even at $20.75 per share. 500 shares were traded by Bermuda Aviation Services Ltd, closing at an even... Read more of this article
William Francis To Retire From Government
The Cabinet Office this afternoon announced the retirement of Mr. William G. Francis, saying that his last day with the Bermuda Government will be today [Fri 17]. “Mr. Francis started his public service career in the Telecommunications department, becoming the Director in 2003,” the Government said. “His positions within government... Read more of this article
BELCO To Take Meter Readings On Saturdays
BELCO said they “would like to advise customers that Meter Readers will be taking readings on Saturdays for the foreseeable future to ensure that customer billing cycles do not extend pass the normal 30-day meter reading cycle.” “Meter Readers will be in their BELCO uniform and will always carry Company ID, which is available to customers... Read more of this article
XL Group $1 Billion Share Buyback Program
XL Group Ltd announced today that the Board of Directors of the Company approved a new share buyback program, authorizing the Company to buy back up to $1 billion of its common shares. The previous share buyback program, which had approximately $349 million remaining, was canceled. “The Company expects the purchases to be made from time to time... Read more of this article
A.M. Best Affirms Randall & Quilter Ratings
A.M. Best has affirmed the Long-Term Issuer Credit Rating of “bbb-” of Randall & Quilter Investment Holdings Ltd. [R&Q] [Bermuda]. The outlook of this Credit Rating [rating] remains stable. A statement from the ratings agency said, “The rating reflects R&Q’s solid risk-adjusted capitalisation, strong profile within the run-off market,... Read more of this article
Gilbert Appointed Ascendant General Counsel
In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group Limited announced the appointment of Ms. Lorianne Gilbert as General Counsel, effective February 1, 2017, and Secretary, effective November 4, 2016. The full filing stated: “Ascendant Group Limited today announced the appointment of Ms. Lorianne Gilbert as General Counsel, effective... Read more of this article
Bermuda Stock Exchange Report: Feb 16 2017
February 16 saw 0 shares trade on the Bermuda Stock Exchange. The BSX finished at 1,988.17, even on the day. There were 0 advances, 0 declines, and 62 remained unchanged. The full report for the day is available here [PDF]. Related Stories Bermuda Stock Exchange Report: Dec 31 2025 Bermuda Stock Exchange Report: Dec 30 2025 Bermuda Stock Exchange... Read more of this article
Bermuda Stock Exchange Report: Feb 15 2017
February 15 saw 16,067 shares trade on the Bermuda Stock Exchange, valued at $523,754.20 BD. 16,067 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.9% at $32.60 per share. The BSX finished at 1,988.17, up 0.68% on the day. There was 1 advance, 0 declines, and 61 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article
Regulatory Authority Approves FibreWire Trial
The Regulatory Authority has given approval for One Communications to immediately commence a technical trial of its FibreWire broadband services to a small sample of its current customer base. “The Authority has specified various parameters for the trial to ensure it is consistent with various regulations, as well as the Authority’s remit to... Read more of this article
