Category: Business
Argus Urging The Public To Prepare For Nicole
As Nicole makes its way toward Bermuda, Argus Insurance said they “would like to remind its clients that they can contact the Argus Customer Service Centre on 298-0888 with any questions regarding their insurance cover and for preparation advice and support in advance of the approaching hurricane.” Alison Hill, CEO of the Argus Group, says:... Read more of this article
BSX Filing: Government Senior Notes Offering
In a filing with the Bermuda Stock Exchange [BSX], the Government of Bermuda filed an announcement regarding its Senior Notes Offering. The filing stated: ”The Government of Bermuda [the “Government”] announced today the results as of 5:00 p.m., New York City time, on October 7, 2016 [the “Early Participation Deadline”] of its previously... Read more of this article
Column: Bermuda’s IB & Hurricane In Florida
[Opinion column written by Larry Burchall] A state Representative in Florida, Frank Artiles [R] was critical of Bermuda based reinsurers. According to an article published in the Insurance Journal, back in March 2015, Artiles was criticizing Florida’s plan to lay off some of the State’s hurricane risks by paying up to $2.0 billion in hurricane insurance... Read more of this article
IRM To Host ‘Building Great Risk Report’ Webinar
[Updated] IRM Bermuda Regional Group will host a webinar on ‘Building A Great Risk Report’, which has been moved from October 13th to October 19th due to the impending arrival of Tropical Storm Nicole. IRM said, “This webinar will review best practice risk reporting and how to design company-wide risk reporting that focuses on providing insight... Read more of this article
Kuvare Holdings Establishes Kuvare Life Re
Kuvare Holdings LP, a growth-oriented insurance platform, announced the completion of its purchase of Guaranty Income Life Insurance Company [GILICO] and, separately, the establishment of a new reinsurer, Kuvare Life Re Ltd. [KLR], and execution of a closed-block reinsurance transaction with a highly rated insurance company. “With the completion... Read more of this article
CCRIF Ready To Provide $20 Million For Haiti
CCRIF SPC [formerly the Caribbean Catastrophe Risk Insurance Facility] is preparing to make a payout to the Government of Haiti as a result of the passage of Hurricane Matthew which triggered a payment on the country’s Tropical Cyclone policy. “Based on preliminary calculations, Haiti will receive a little over US$20 million – the largest... Read more of this article
Bermuda Stock Exchange Report: Oct 10 2016
October 10 saw 22,407 shares trade on the Bermuda Stock Exchange, valued at $557,026.00 BD. 22,407 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.6% at $24.90 per share. The BSX finished at 1,601.39, up 0.42% on the day. There was 1 advance, 0 declines, and 63 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article
Fitch: Conditions Ripe For Reinsurance M&A
Two deals announced last week point to a resurgence in reinsurance M&A following a drop in valuation multiples and as firms seek diversification and scale in a tough market, Fitch Ratings says. “Reinsurance M&A stalled this year after a spike in valuations, with several transactions pricing at around 2x book value and probably putting... Read more of this article
FMG Urges Clients To Prepare For TS Nicole
Freisenbruch-Meyer Group is reminding their clients to “remain vigilant and make the necessary preparations for the approaching storm.” Their statement comes as the Bermuda Weather Service issues a Hurricane Watch, saying that Tropical Storm Nicole is “a threat to Bermuda,” with its closest point of approach to Bermuda within 72... Read more of this article
Reaccreditation For Ascendant Engineer Program
Ascendant Group Limited’s Monitored Professional Development Scheme [MPDS] for graduate Engineers has been reaccredited for three years with no conditions by a visiting panel of representatives from the Institution of Mechanical Engineers [IMechE] and Institution of Engineering and Technology [IET]. Licensed by the Engineering Council in the UK, both... Read more of this article
Alfreda Butler Retires After 53 Years With Argus
Alfreda Butler — a Local Medical Claims Specialist who has worked at the Argus Group since 1963 — is retiring after 53 years with the company. “Mrs. Butler joined Argus in 1963 as a messenger. Her ambition shined from her very first post, where she memorised everyone’s coffee order and positioned each drink on her tray in order of... Read more of this article
BF&M Share Repurchases For September 2016
In a filing with the Bermuda Stock Exchange [BSX], BF&M Limited advised that pursuant to its share repurchase programme, during the month of September 2016 the company repurchased 270 common shares at an average price of $17.99. The Company advised the repurchased shares were reserved for issuance. Related Stories Veronica Swan DeGraff Earns... Read more of this article
