Hashtag: #BermudaBusiness
Bermuda Stock Exchange Report: Jan 31 2020
January 31 saw 96,053 shares trade on the Bermuda Stock Exchange, valued at $445,855.50 BD. 3,988 shares were traded by Ascendant Group Limited, closing even at $31.00 per share, while another 92,065 shares were traded by One Communications Ltd, closing up 14.8% at $3.50 per share. The BSX finished at 2,216.84, up 0.76% on the day. There were 2 advances,... Read more of this article
Blue Capital Reports Q4 2019 Financial Position
Blue Capital Reinsurance Holdings Ltd. a Bermuda holding company, reported its financial position for the fourth quarter of 2019. “The Company, through its operating subsidiaries, previously offered collateralized reinsurance in the property catastrophe market and invested in various insurance-linked securities. The Company is currently winding... Read more of this article
St. George’s Club To Close Effective Today
[Updated] The St. George’s Club will close effective today [Jan 31], with the Club thanking their “very loyal staff for their efforts over the years.” “After more than 25 years of operation, struggling as a ‘timeshare’ with changing legislation, the closure of the St. Georges golf course, increased costs, recession and members... Read more of this article
Bermuda Hosts Financial Technology Summit
Bermuda this week hosted a two-day summit [January 29-30] on financial technology which included Mr. Arjoon Suddhoo, the Commonwealth Deputy Secretary-General, as well as representatives from central banks in the Americas and Europe. “This was a small, private, invitation only conference of approximately 20 attendees, funded entirely by the Commonwealth... Read more of this article
Economic Development Department Formation
“The Cabinet has approved the creation of a new department that will be called the Economic Development Department,” Premier David Burt said in the House of Assembly today [Jan 31]. Premier Burt said, “This new department is being created by the fusion of three existing entities that are currently under the remit of the Cabinet Office.... Read more of this article
Coldwell Banker Real Estate Market Update
Coldwell Banker Bermuda Realty has released their annual update, saying that “the year 2019 was challenging to navigate.” A spokesperson said, “The year 2019 was challenging to navigate and certainly difficult to make predictions even after compiling and interpreting our quarterly sales transactional data. “Although the early part... Read more of this article
Estera Wins ‘Trust Company Of The Year’
Estera won the ‘Trust Company of the Year – Bahamas, Bermuda and the Cayman Islands’ in Citywealth’s International Finance Centre awards. The awards, announced in London on Wednesday 29 January 2020, recognise outstanding achievements in Estera’s Bermuda and Cayman Islands offices and highlight the expertise of the firm’s private client... Read more of this article
Everest Expects Q4 Catastrophe Loss Of $215M
Everest Re Group said it expects to report Catastrophe losses in the fourth quarter of 2019 of $215 million, which consist of Typhoon Hagibis in the amount of $190 million and tornado losses in Dallas, Texas in the amount of $25 million. The company said, “Catastrophe losses are net of estimated reinsurance recoveries and reinstatement premiums. Also... Read more of this article
IGI Receives Approval For Tiberius Deal
International General Insurance Holdings Ltd. [IGI] announced that it has received regulatory approval from the Bermuda Monetary Authority in connection with its previously announced business combination with Tiberius Acquisition Corp. [Tiberius], a publicly traded special purpose acquisition company. A spokesperson said, “This approval, received... Read more of this article
Watford Holdings To Strengthen Loss Reserves
Watford Holdings Ltd. announced that it expects to report a 2019 fourth quarter net loss “primarily due to a strengthening of net loss reserves of approximately $28 million across the current and prior accident years.” The company said, “The loss reserve strengthening is in response to higher than projected reported losses in the quarter,... Read more of this article
Bermuda Stock Exchange Report: Jan 30 2020
January 30 saw 24,182 shares trade on the Bermuda Stock Exchange, valued at $558,371.11 BD. 5,034 shares were traded by Bank of N.T. Butterfield Ltd, closing down 1.5% at $33.30 per share, while another 17,948 shares were traded by BF&M Ltd, closing up 1.3% at $20.50 per share. 500 shares were traded by Bermuda Press [Holdings] Ltd, closing at... Read more of this article
Bermuda Civil Aviation Team In Kazakhstan
Senior management from the Bermuda Civil Aviation Authority [BCAA] are in Kazakhstan this week to hold meetings with the Aviation Administration of Kazakhstan [AAK] and various airline and aircraft operators as “part of BCAA’s strategy to widen its global offering.” “In November 2019, an ICAO Article 83bis Agreement was officially... Read more of this article
