Hashtag: #BermudaBusiness
BCB Appoints Hubert Esperon As New CEO
Bermuda Commercial Bank Limited [BCB], a Bermuda financial services company, has announced the appointment of Hubert Esperon [pictured] as the new Chief Executive Officer [CEO], effective September 6, 2016. “Hubert Esperon is a veteran executive with diverse international business experience. His 24 years in financial services have included 12... Read more of this article
Hiscox: Collateralised Reinsurance ILS Capability
Bermuda-based Hiscox is to build a collateralised reinsurance insurance linked securities [ILS] capability to be launched on 1 January 2017, in addition to an expansion of its fully-fronted ILS fund structures. To reflect the move and the growing range of ILS products it can offer, the ILS team is to rebrand under Hiscox Re Insurance Linked Strategies.... Read more of this article
Island AIMA Network To Host Breakfast Briefing
The Bermuda network of the Alternative Investment Management Association [AIMA] will be hosting “Breakfast Bites,” the first in a series of education seminars, on Friday, September 16 at the Hamilton Princess, starting at 8.00am. In making the announcement, Chairman of the AIMA Bermuda’s Executive Committee Craig Bridgewater said, “One of... Read more of this article
Selley Completes Arboricultural Training In Wales
After completing an intensive eight week C&G/NPTC training programme in arboricultural practices with ProClimber Training in South Wales, Curt Selley has returned to the Brown & Company Ltd tree unit. Martin Brown said, “We are pleased to welcome Curt Selley back to the island and the company. Curt has just returned having completed an... Read more of this article
Fitch: ‘Weakening Reinsurance Will Drive M&A’
Weak profitability is likely to leave more reinsurers worldwide vulnerable to takeover in 2017, reinvigorating M&A activity as healthier firms seek growth and efficiency savings, Fitch Ratings says. “Consolidation in the sector has stalled after a flurry of deals in 2014 and 2015 as potential buyers have been put off by high valuations. But... Read more of this article
Bermuda Stock Exchange Report: Sept 12 2016
September 12 saw 500 shares trade on the Bermuda Stock Exchange, valued at $9,625.00 BD. 500 shares were traded by Bank of N.T. Butterfield Ltd, closing down 0.8% at $19.25 per share. The BSX finished at 1,341.42, down 0.50% on the day. There were 0 advances, 1 decline, and 63 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article
BF&M Reports Six Month Earnings Of $13.2M
BF&M Limited today [Sept 12] reported shareholders’ net income for the six month period ended 30th June 2016 of $13.2 million, resulting in an annualized return on shareholders’ equity of 9.9%. Shareholders’ net income for the comparative six month period of 2015 was $11.4 million. President and CEO John Wight [pictured] stated: “Financial... Read more of this article
Risk-Management Challenge Of Organised Crime
Elman Myers — a former US Air Force special agent who is now a managing director at Hiscox — will be the keynote speaker at this month’s 2016 ALARYS Congress conference in Bermuda. Based in Miami as Managing Director at Hiscox Special Risks Agency [Americas] Inc, Mr Myers will speak on “Organised Crime — a New Risk-Management Challenge... Read more of this article
Wishing Step Pictures Establishes In Bermuda
Newly-formed film-production company, Wishing Step Pictures [WSP], is making a splash in the documentary business, after setting up operations in Bermuda and Toronto to create social-impact films built around global campaigns for positive change. ‘”Our tagline is ‘Making the world a better place one film and campaign at a time’,” said Wishing... Read more of this article
Butterfield Treasury Shares Buy Back For August
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced that during the month of August 2016, the Bank purchased for Treasury 483 Common Shares at an average price of $1.650 per share. In addition, the Bank did not purchase for cancellation any Preference Shares. Related Stories Butterfield Share Repurchases... Read more of this article
PartnerRe Appoints Beedle, Head Of Asia-Pacific
Bermuda-based PartnerRe Ltd. announced that, subject to regulatory approval, James Beedle will be appointed to the position of Head of Asia-Pacific & CEO of Partner Reinsurance Asia Pte. Ltd., to head up PartnerRe’s business operations in that region. He will take up his position on January 1, 2017 replacing outgoing Head of Asia-Pacific, Alain... Read more of this article
Fitch Ratings: Reinsurance Outlook Weakens
“Falling premiums and investment returns will drag reinsurers’ profits lower in 2017, Fitch Ratings said, adding that “this is driving our negative outlook for the sector.” A statement from the ratings agency said, “These tough market conditions could lead to rating pressure on smaller, less diversified firms that are reliant... Read more of this article
