Hashtag: #BermudaBusiness
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
Video: ‘Taking Off’ Highlights New Buildings
Skyport has released the latest episode of ‘Taking Off’, a video series with host Mikaela Pearman that highlights the airport redevelopment project, with this episode highlighting the newly constructed buildings next to the main terminal. Speaking in the episode, Mikaela Pearman said, “If you’ve driven by the site of the new airport passenger... Read more of this article
IoD To Hold A Workshop On February 24
Business leaders are invited to a workshop that examines changes in the definition of a company’s purposes and explores approaches to formulate, embed and communicate purpose to address ESG reporting requirements. Deborah Morton-Dare, a Chartered Accountant who specialises in financial and strategic management training for all levels of financial... Read more of this article
Aspen Appoints Andrew Kudera As Executive VP
Aspen Insurance Holdings announced that Andrew [Andy] Kudera has been appointed Executive Vice President and Group Chief Actuary, effective February 3, 2020. Mr. Kudera brings 40 years of actuarial experience in the re/insurance industry to Aspen. Prior to managing his own consulting firm, he served as Executive Vice President and Group Chief Actuary... Read more of this article
AXIS Capital’s Fourth Quarter 2019 Results
AXIS Capital Holdings today announced financial results for the fourth quarter ended December 31, 2019. Commenting on the fourth quarter 2019 financial results, Albert Benchimol, President and CEO of AXIS Capital, said: “We did not deliver the financial results we expected in 2019, as our performance suffered from a record typhoon season in Japan,... Read more of this article
