Hashtag: #BermudaBusiness
Deloitte Supports Bermuda’s First Pride Parade
Saying it is part of their “ongoing diversity and inclusion practices,” Deloitte Bermuda said they are “delighted to announce our support and participation in Bermuda’s first Pride Parade.” A spokesperson said, “Deloitte is a proud signatory of the United Nations’ Standards of Conduct for Business to help tackle discrimination... Read more of this article
Change In Management At James River Group
James River Group Holdings announced that due to ill health the Company’s Chief Executive Officer, Robert P. Myron, will step down as Chief Executive Officer to take the position of President and Chief Operating Officer. James River’s Board Chairman and former Chief Executive Officer, J. Adam Abram, will assume the additional duties of Chief Executive... Read more of this article
Essent Reports Second Quarter 2019 Results
Bermuda-based Essent Group Ltd. reported net income for the quarter ended June 30, 2019 of $136.4 million or $1.39 per diluted share, compared to $111.8 million or $1.14 per diluted share for the quarter ended June 30, 2018. Essent also announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per common share. The dividend... Read more of this article
Shipping Schedule: Week Starting August 3
The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday August 3rd. On Thursday the Ocean Globe general cargo ship and the Ezpera fishery patrol vessel are expected, on Saturday the Anthem of the Seas cruise ship will arrive, and on Sunday the Norwegian Gem cruise ship and the... Read more of this article
AM Best Upgrades Credit Ratings Of PartnerRe
New Jersey-based international credit agency AM Best has upgraded the Financial Strength Rating [FSR] to A+ [Superior] from A [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] to “aa-” from “a+” of the operating subsidiaries of Bermuda reinsurer PartnerRe Ltd. The subsidiaries comprise: Partner Reinsurance Company Ltd.; Partner... Read more of this article
SOBC DARAG Launches Office In Bermuda
SOBC DARAG announced the launch of its new office in Bermuda in a “significant expansion of its US and Bermudian operations.” “SOBC DARAG’s new Bermudian subsidiary will be fully operational from August 1,” the company said. “The Bermuda team will provide a full suite of finality solutions to clients, including the... Read more of this article
Andrade Named Everest Chief Operating Officer
Juan C. Andrade has been named Everest Re Group Chief Operating Officer effective September 1, 2019. Effective January 1, 2020, Mr. Andrade will succeed Mr. Dominic J. Addesso as President and Chief Executive Officer. Mr. Andrade has more than 25 years of experience in the insurance industry, successfully leading large and complex domestic and international... Read more of this article
Busti Joins AXIS Re: President Of North America
Jason Busti has joined AXIS Capital Holdings Limited reinsurance arm, AXIS Re as President of North America, based in New York. A spokesperson said, “Bermudian global re/insurer AXIS Capital Holdings Limited has announced that Jason Busti has joined its reinsurance arm, AXIS Re as President of North America, based in New York. “Jason Busti... Read more of this article
Aspen Declares Dividends On Preference Shares
The Board of Directors of Aspen Insurance Holdings Limited has declared a dividend on its 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares with a $25 liquidation preference per share of $0.3719 per 5.95% Preference Share. The dividend is payable on October 1, 2019 to the holders of record as of the close of business on September... Read more of this article
AXIS Reports Second Quarter Income Of $166M
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the second quarter of 2019 of $166 million, or $1.97 per diluted common share, compared to net income of $93 million, or $1.11 per diluted common share, for the second quarter of 2018. Net income available to common shareholders for the six months ended... Read more of this article
Bermuda Stock Exchange Report: July 31 2019
July 31 saw 1,009 shares trade on the Bermuda Stock Exchange, valued at $6,464.25 BD. 800 shares were traded by One Communications Ltd, closing an even $3.75 per share, while the other 209 shares were traded by BF&M Ltd, closing even at $17.05 per share. The BSX finished at 2,164.50, even on the day. There were 0 advances, 0 declines, and 56 remained... Read more of this article
Circle CEO Testifies At US Senate Committee
Circle CEO Jeremy Allaire appeared before the United States Senate Committee on Banking, Housing and Urban Affairs during a hearing titled, “Examining Regulatory Frameworks for Digital Currencies and Blockchain.” Circle recently announced plans to launch a new subsidiary in Bermuda, and a statement from Circle said they are “excited to be opening... Read more of this article
