Category: Business
BELCO To Implement New Rates On Jan 1st
BELCO will implement new rates for all customers beginning January 1st, 2023, and the company said the “average residential customer using 650 kWhs per month will see a $6 decrease in their bill.” A spokesperson said, “Bermuda Electric Light Company Limited [BELCO] will implement new rates for all customers beginning January 1st, 2023.... Read more of this article
Appleby Makes 24th Holiday Donation To STAR
Appleby’s Bermuda office delivered holiday gift donations to local charity STAR [Supportive Therapy for Aids Persons and their Relatives]. A spokesperson said, “This marks Appleby’s 24th year supporting STAR families during the holiday season. Appleby participates annually in STAR’s Christmas Donation Drive by supporting six families with... Read more of this article
Library Wins City Christmas Window Contest
The Bermuda National Library won the City’s 2022 Christmas Window Decorating Contest, with Discovery Wines & Spirits, Demco and Waterfront Man earning runner up honours. A spokesperson said, “The City of Hamilton today announced the winners of the City’s 2022 Christmas Window Decorating Contest. A record 24 City businesses entered the... Read more of this article
AM Best Downgrades Qatar Insurance Ratings
AM Best has downgraded the Financial Strength Rating to A- [Excellent] from A [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] to “a-” [Excellent] from “a” [Excellent] of Qatar Insurance Company Q.S.P.C. [QIC] [Qatar], and its subsidiary Antares Reinsurance Company Limited [Antares Re] [Bermuda]. The outlook of these Credit... Read more of this article
BNT Christmas Shop Features Local Vendors
The Bermuda National Trust is holding its annual Holiday Pop-Up Shop at the BNT headquarters in Paget, offering a variety of items made and designed by locals, with the shop open until Christmas Eve. A spokesperson said, “The Bermuda National Trust is holding its annual Holiday Pop-Up Shop at BNT headquarters and historic home, Waterville located... Read more of this article
RiverStone Loss Portfolio Transfer Deal
RiverStone International has entered into loss portfolio transfer reinsurance agreements with affiliates of AXIS Capital Holdings Limited, which cover several of its professional lines and liability insurance portfolios, predominantly relating to 2019 and prior accident years. The transaction, subject to regulatory approval, covers net reserves for... Read more of this article
AM Best Affirms Conduit Reinsurance’s Ratings
AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Rating of “a-” [Excellent] of Conduit Reinsurance Limited [Conduit Re] [Bermuda]. The outlook of these Credit Ratings is stable. The ratings agency said, “The ratings reflect Conduit Re’s balance sheet strength, which AM Best assesses as very... Read more of this article
Somers Limited Reports Full Year Results
In a filing with the Bermuda Stock Exchange [BSX], Somers Limited reported full year results. The filing stated: Somers Limited [“Somers” or “the Company”, BSX: SOMS.BH], a financial services investment holding company, is pleased to report its full year results for the year ended September 30, 2022. Net Asset Value [“NAV”] per share at... Read more of this article
Bacardi Named Top ‘Female Friendly Company’
Bermuda headquartered Bacardi was named one of the “World’s Top Female Friendly Companies” by Forbes. A spokesperson said, “Bacardi, the world’s largest privately held spirits company, is toasting to being recognized by Forbes as one of the World’s Top Female-Friendly Companies. The prominent list and results are based on an independent... Read more of this article
2022 Fall Labour Force Survey Is Underway
Minister of Labour and Economy Jason Hayward advised that the Department of Statistics has launched the Fall 2022 Labour Force Survey, which is expected to conclude on February 28th 2023. A Government spokesperson said, “The purpose of a Labour Force Survey is to determine the size and characteristics of the labour force and the economically inactive... Read more of this article
Over 130 Attend Hospitality Recruitment Drive
More than 130 individuals attended the 2nd annual Hospitality Recruitment Drive yesterday [Dec 14] at the Hamilton Princess and Beach Club, the Government said. A spokesperson said, “The event, which was a partnership with the Department of Workforce Development, Bermuda Tourism Authority [BTA] and the Bermuda Hotel Association [BHA], showcased... Read more of this article
Simply Business Partners With Arch Insurance
Simply Business partners with Arch Insurance to expand professional liability product offering. A spokesperson said, “Simply Business, LLC., a Boston-based digital insurance company focused on small businesses, today announced a partnership with specialty insurer Arch Insurance to offer monoline professional liability solutions to small business... Read more of this article
