Hashtag: #BermudaBusiness
Marcus Symonds Earns Training Contract
Carey Olsen announced that Bermudian lawyer Marcus Symonds has become the first recipient of a pupillage training contract. A spokesperson said, “Budding Bermudian lawyer Marcus Symonds has become the first recipient of a pupillage training contract with Carey Olsen Bermuda through the firm’s new pupillage programme. “A former Warwick... Read more of this article
Essent Increases Credit Facility To $625 Million
Essent Group has amended its credit facility to increase the total facility from $500 million to $625 million. A spokesperson said, “Essent Group Ltd. today announced that it has amended its credit facility [Credit Facility] to increase the total facility from $500 million to $625 million with terms that provide for: An increase in the revolving... Read more of this article
Video: 2020 TechAwards Winners Presentation
Organizations and individuals with innovative technology were celebrated at the 2020 TechAwards, with the presentation shown as part of the Bermuda Development Agency’s Virtual Tech Summit. Premier David Burt noted in his remarks, “It is my pleasure to be here for our 13th Technology Innovation Awards which recognize outstanding achievements being... Read more of this article
Apex Group: Planned Acquisition Of FundRock
Apex Group Ltd., a global financial services provider, announced today the planned acquisition of FundRock Management Company SA and FundRock Partners Ltd. A spokesperson said, “This latest deal serves to reinforce Apex’s ability to deliver award-winning services on a global basis and complement the Group’s 2019 acquisition of Luxembourg-based... Read more of this article
AM Best Affirms Credit Ratings Of Brit Re
AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a” of Brit Reinsurance [Bermuda] Limited [Brit Re] [Bermuda]. The outlook of these Credit Ratings [ratings] is stable. A statement from the ratings agency said, “The ratings reflect Brit Re’s balance sheet strength, which AM Best categorizes... Read more of this article
Samurai Sportswear: Technical Kit Supplier
Samurai Sportswear have been confirmed as the technical kit supplier for World Tens Series franchises SX10, Asia Pacific Dragons, Miami Sun, Phoenix and the London Royals. A spokesperson said, “Founded in 1996 by CEO Terry Sands, the family-run business has over 20 years of expertise in designing and manufacturing high quality sports garments. “The... Read more of this article
Shipping Schedule: Week Starting October 17
The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday October 17th. On Sunday the Western Highway vehicles carrier is expected, on Monday the Agenda container ship and the Oleander container ship will arrive, and on Wednesday the Somers Isles container ship is scheduled to arrive. On... Read more of this article
Enstar Completes First IBT Transaction In US
Enstar Group Limited has announced that it has successfully completed the “first ever insurance business transfer [IBT] to occur in the United States.” A spokesperson said, “Enstar Group Limited today announced that it has successfully completed the first ever insurance business transfer to occur in the United States, having received... Read more of this article
Bermuda Stock Exchange Report: Oct 16 2020
October 16 saw 4,728 shares trade on the Bermuda Stock Exchange, valued at $87,720.00 BD. 328 shares were traded by Bank of N.T. Butterfield Ltd, closing down 3.8% at $25.50 per share, while another 4,400 shares were traded by BF&M Ltd, closing up 0.3% at $18.05 per share. The BSX finished at 1,853.88, down 2.35% on the day. There was 1 advance,... Read more of this article
Tech Tycoon Facing ‘Largest-Ever Tax Charge’
Robert T. Brockman, an American software tycoon, has been “charged with using a web of Caribbean entities to hide $2 billion in income in what prosecutors called the largest U.S. tax case ever against an individual.” A Bloomberg story said, “Robert T. Brockman, a Houston software tycoon, was charged with using a web of Caribbean entities to... Read more of this article
Sale Of Ascendant Group/BELCO Approved
Ascendant Group Limited said they “welcomed the approvals of the Regulatory Authority [RA] and Minister of Finance as necessary steps in completing the sale of Ascendant to Algonquin Power & Utilities Corp.” Ascendant Chairman Peter Durhager said: “This is welcome news and could not come at a more critical time for Bermuda. With the... Read more of this article
BTA Launches WTTC “Safe Travels” Application
COVID-19-safe businesses across the island now have the opportunity to earn the World Travel & Tourism Council [WTTC] “Safe Travels” Stamp. A spokesperson said, “COVID-19-safe businesses across the island now have the opportunity to earn the World Travel & Tourism Council [WTTC] ‘Safe Travels’ Stamp, thanks to a programme launched... Read more of this article
