Category: Business
AM Best Assigns Credit Ratings To Fortitude Re
AM Best has assigned a Financial Strength Rating of A [Excellent] and a Long-Term Issuer Credit Rating of “a” [Excellent] to Fortitude Reinsurance Company Ltd. [Fortitude Re] [Bermuda]. The outlook assigned to these Credit Ratings [ratings] is stable. The ratings agency said, “The ratings reflect Fortitude Re’s balance sheet strength, which... Read more of this article
Bermuda Stock Exchange Report: August 13 2021
August 13 saw 2,969 shares trade on the Bermuda Stock Exchange, valued at $36,805.35 BD. 1,869 shares were traded by Argus Group Holdings Ltd, closing even at $6.15 per share, while the other 1,100 shares were traded by BF&M Ltd, closing down 1.0% at $23.01 per share. The BSX finished at 2,553.68, down 0.09% on the day. There were 0 advances, 1... Read more of this article
BEDC Launches Enterprise Bermuda Accelerator
The Bermuda Economic Development Corporation [BEDC] is launching its accelerator programme – the Enterprise Bermuda Accelerator – a six-to-seven-month intensive programme to provide support to small and medium sized business owners to help them scale their businesses. A spokesperson said, “Utilizing the award-winning StreetWise ‘MBA’™... Read more of this article
May 2021 Consumer Price Index Report
Consumers paid 1.4% more in May 2021 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI] and this level of inflation rose 0.5 percentage points from the April 2021 annual inflation rate of 0.9%. A Government spokesperson said, “Today, Minister for the Cabinet Office, the Hon. Wayne L. Furbert, JP,... Read more of this article
Sompo To Offer Epidemic & Pandemic Protection
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Sompo Global Risk Solutions [GRS] will offer protection for epidemic and pandemic risk. “Triggered by civil authority restriction resulting from international public health emergencies declared by the World Health... Read more of this article
IGI Announces Common Share Dividend
International General Insurance Holdings Ltd. [IGI] announced that its Board of Directors has declared an ordinary common share dividend of $0.16 per share for the period January 1, 2021 – June 30, 2021. The dividend is payable on September 7, 2021 to shareholders of record at the close of business on August 23, 2021, with IGIC trading ex-dividend... Read more of this article
Bermuda Stock Exchange Report: August 12 2021
August 12 saw 343 shares trade on the Bermuda Stock Exchange, valued at $6,972.50 BD. 43 shares were traded by Bank of N.T. Butterfield Ltd, closing even at $36.50 per share, while another 300 shares were traded by Somers Limited, closing up 5.9% at $18.01 per share. The BSX finished at 2,555.88, up 0.31% on the day. There was 1 advance, 0 declines,... Read more of this article
Monetary Authority Fines Allianz Life Bermuda
The Bermuda Monetary Authority has imposed civil penalties totalling $1,700,000 on Allianz Life Bermuda Limited. A spokesperson said, “The Bermuda Monetary Authority has imposed civil penalties totalling $1,700,000 on Allianz Life Bermuda Limited [Company] pursuant to sections 20 and 24A of the Proceeds of Crime [Anti-Money Laundering and Anti-Terrorist... Read more of this article
Appleby Provides Internships To Eight Students
Law firm Appleby is providing internship opportunities to eight Bermudian students throughout the summer. A spokesperson said, “Appleby welcomed students across various departments including, Corporate, Private Client & Trusts, Dispute Resolution and Marketing. The students have had the opportunity to work alongside mentors and gain valuable experience... Read more of this article
Bermuda Wins Asia & Pacific Captive Award
Bermuda was awarded the best non-Asian captive domicile at the Captive Review’s Asia and Pacific [APAC] Virtual Awards and Summit 2021. Bermuda was recently shortlisted alongside Guernsey, Hawaii, and Vermont, but came through with the win. Roland Andy Burrows, the Bermuda Business Development Agency’s [BDA] CEO, said, “As the world’s premier... Read more of this article
ABIR Member Companies Welcome 23 Interns
Member companies of the Association of Bermuda Insurers and Reinsurers [ABIR] are giving 23 young Bermudians a taste of the insurance industry through summer internships. The students are gaining valuable experience with companies including Aeolus, Arch, Ariel Re, Ascot, Chubb, Convex, Fortitude Re, Hamilton, Mosaic Insurance and Validus, as well as... Read more of this article
Ywione Darrell Selected As 2021 AXA XL Scholar
AXA XL, the P&C and specialty risk division of AXA SA announced that the 2021 AXA XL Scholarship has been awarded to Ywione Darrell. The AXA XL Scholarship is a four-year full scholarship open to students who are Bermudian or hold Permanent Resident Certificate status and are working toward a degree in [re]insurance industry related studies. A... Read more of this article
