Hashtag: #BermudaBusiness
Reinsurers Pay Out Over $70B To EU Customers
Bermuda [re]insurers have paid out US$72.8 billion to European Union [EU] policyholders and cedants over the past 20 years, according to commercial market claims data collected by the Bermuda Monetary Authority, who said this $72.8 billion, roughly half [$36.8 billion] was paid to UK customers. The information comes from the Authority’s first EU... Read more of this article
Institute Of Architects To Host Architecture Week
The Institute of Bermuda Architects [IBA] will be hosting a week-long celebration of architecture, from Monday, October 2. To encourage interest in the architectural profession and celebrate the architecture of Bermuda, the IBA has organised a series of free events for the public, members and industry associates – beginning on World Architecture... Read more of this article
Clarien’s Hurricane Donation Drive Continues
Hurricanes Irma and Maria left destructive paths of devastation throughout the Caribbean, and as the region recovers from both storms, the Clarien Bank hurricane donation drive continues to accept donations in support of Red Cross relief and recovery efforts. Clarien Bank Chief Marketing Officer Michael DeCouto commented: “As thousands in the region... Read more of this article
Bermuda Center For Sleep Disorders Opens
The Bermuda Center for Sleep Disorders, a “diagnostic sleep facility designed to help diagnose and treat people who have sleep disorders,” has opened in Paget, becoming the island’s first overnight sleep testing facility. The Centre said, “As the first on island overnight sleep testing facility, Bermuda Center for Sleep Disorders... Read more of this article
“Insurance Of The Future” Conference
Local and international industry experts will be on hand to offer market insights and practical information at the upcoming Bermuda Insurance Market Conference, hosted by the Bermuda Insurance Institute [BII]. The 2017 Conference, entitled ‘Insurance of the Future’, will take place on Friday, October 13 at XL Catlin at O’Hara House, with speakers... Read more of this article
AXIS Capital To Acquire Shares Of Novae Group
Following consultation with the European Commission, and in accordance with applicable regulations, Bermuda-based AXIS Capital Holdings will complete its acquisition of Novae Group plc in two phases, beginning with the acquisition of Novae shares, expected to occur on October 2, 2017. This is to be followed by management control and integration of... Read more of this article
Fitch Ratings: Reinsurer Downgrade Risks Grow
Following the devastation caused by Hurricane Maria, 2017 catastrophe losses for the global insurance and reinsurance sectors will exceed $100 billion and could reach close to $190 billion on a pretax basis, Fitch Ratings says. According to Fitch, losses on this scale, which at the upper end would be the highest on record in a single year, could “weaken... Read more of this article
Bacardi 2017 Corporate Responsibility Report
Bermuda-headquartered Bacardi said they are actively engaged in “responsible drinking initiatives, reaching more than one million underage individuals with underage drinking prevention education programs, and cut its greenhouse gas [GHG] emissions intensity in half.” These are just two of the accomplishments detailed in the company’s... Read more of this article
Bermuda Stock Exchange Report: Sept 26 2017
September 26 saw 4,400 shares trade on the Bermuda Stock Exchange, valued at $39,535.00 BD. 4,300 shares were traded by Ascendant Group Limited, closing down 2.8% at $8.75 per share, while another 100 shares were traded by BF&M Ltd, closing down 7.3% at $19.10 per share. The BSX finished at 2,107.28, down 0.66% on the day. There were 0 advances,... Read more of this article
ILS Bermuda Announce New Education Initiative
ILS [Bermuda] Ltd., organisers of Bermuda Convergence 2017, announced a new education initiative that will provide scholarships for five Bermudian students to work towards an Associate in General Insurance [AINS] designation through the Bermuda Insurance Institute’s [BII] ‘Career Pathways’ program. The initiative will also offer students complimentary... Read more of this article
Ironshore Expands Into US & London Markets
Ironshore Inc. announced the formation of Iron-Excess, an expansion of the Iron-Starr Excess underwriting agency business model that has been serving the Bermuda market since 2009. Iron-Excess will service the U.S. and London insurance markets and the agency expansion will be led by Steve Horton. The company said that Iron-Excess will “enable... Read more of this article
Approval For Intact Acquisition Of OneBeacon
OneBeacon Insurance Group announced that all regulatory approvals required to complete the previously announced acquisition of the company by Intact Financial Corporation under the terms of the merger agreement have been obtained. The transaction is expected to be completed on September 28, 2017. Intact will acquire OneBeacon for $18.10 per common... Read more of this article
