Business http://www.royalgazette.com Business en-us Butterfield sole trader on BSX A total of 1,500 shares in the Bank of Butterfield traded on the BSX today. The share sale, worth 2,985, left the banks shares unchanged at 1. 99. The Royal GazetteBSX Index closed the day unchanged at 1,378. 97. The BSX Insurance Index stood at 1,458. 72 at close of business, up 30. 72 points 2. 15 percent. http://www.royalgazette.com/article/20141020/BUSINESS06/141029955&source=RSS Tue, 21 Oct 2014 01:10:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS06/141029955&source=RSS A total of 1,500 shares in the Bank of Butterfield traded on the BSX today. The share sale, worth 2,985, left the banks shares unchanged at 1. 99. The Royal GazetteBSX Index closed the day unchanged at 1,378. 97. The BSX Insurance Index stood at 1,458. 72 at close of business, up 30. 72 points 2. 15 percent. Insurers deal with hundreds of claims <img src="/storyimage/RG/20141020/BUSINESS/141029964/AR/0/AR-141029964.jpg" width="100" align="left" /></a> It could be weeks or even months before the final cost of Hurricane Gonzalo is known as claims continue to come in, according to one of the Islands insurance companies. The Colonial Group opened for business on Saturday morning and since then has seen about 200 claims, mostly for damage to homes. Paul Brierley, Colonials executive. .. http://www.royalgazette.com/article/20141020/BUSINESS/141029964&source=RSS Mon, 20 Oct 2014 23:07:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS/141029964&source=RSS <img src="/storyimage/RG/20141020/BUSINESS/141029964/AR/0/AR-141029964.jpg" width="100" align="left" class="main-image" /></a> It could be weeks or even months before the final cost of Hurricane Gonzalo is known as claims continue to come in, according to one of the Islands insurance companies. The Colonial Group opened for business on Saturday morning and since then has seen about 200 claims, mostly for damage to homes. Paul Brierley, Colonials executive. .. Digicel restores more than 90 capacity Digicel Network restoration surpasses 90 percent capacity60 hours after Gonzalo services resume for the majority of customers Digicel is pleased to announce the considerable amount of progress made today with coverage up and beyond 90 per cent and data services improved for the majority of its customers. At close of business. .. http://www.royalgazette.com/article/20141020/BUSINESS/141029958&source=RSS Mon, 20 Oct 2014 23:00:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS/141029958&source=RSS Digicel Network restoration surpasses 90 percent capacity60 hours after Gonzalo services resume for the majority of customers Digicel is pleased to announce the considerable amount of progress made today with coverage up and beyond 90 per cent and data services improved for the majority of its customers. At close of business. .. BTC some time before all lines restored <img src="/storyimage/RG/20141020/BUSINESS/141029966/AR/0/AR-141029966.jpg" width="100" align="left" /></a> BTC have announced that many of the 15,000 customers who were without service in the aftermath of Hurricane Gonazalo have had it restored, but warned it would be some time before all lines are back in operation again. Eric Dobson, chief executive officer of BTC, was quoted saying Restoration of the islands communications facilities. .. http://www.royalgazette.com/article/20141020/BUSINESS/141029966&source=RSS Mon, 20 Oct 2014 22:19:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS/141029966&source=RSS <img src="/storyimage/RG/20141020/BUSINESS/141029966/AR/0/AR-141029966.jpg" width="100" align="left" class="main-image" /></a> BTC have announced that many of the 15,000 customers who were without service in the aftermath of Hurricane Gonazalo have had it restored, but warned it would be some time before all lines are back in operation again. Eric Dobson, chief executive officer of BTC, was quoted saying Restoration of the islands communications facilities. .. Delay warning from double-hit courier service Couriers ZipX have announced that clearing shipments has been negatively affected in the aftermath of Hurricane Gonzalo. IBC management explained in a press release this afternoon they are unable to operate at their temporary facility at the LF Wade International Airport airport due to storm damage. They had been forced to move from. .. http://www.royalgazette.com/article/20141020/BUSINESS/141029968&source=RSS Mon, 20 Oct 2014 21:01:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS/141029968&source=RSS Couriers ZipX have announced that clearing shipments has been negatively affected in the aftermath of Hurricane Gonzalo. IBC management explained in a press release this afternoon they are unable to operate at their temporary facility at the LF Wade International Airport airport due to storm damage. They had been forced to move from. .. Tax deadline extended until Friday Those owing taxes that were due on October 15 will be given a deadline extension without penalty until the end of this week, The Office of the Tax Commissioner stated this morning. In consideration of the impact of Tropical Storm Fay and Hurricane Gonzalo, all tax returns which were due by October 15, 2014 will be processed without. .. http://www.royalgazette.com/article/20141020/BUSINESS03/141029979&source=RSS Mon, 20 Oct 2014 15:24:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS03/141029979&source=RSS Those owing taxes that were due on October 15 will be given a deadline extension without penalty until the end of this week, The Office of the Tax Commissioner stated this morning. In consideration of the impact of Tropical Storm Fay and Hurricane Gonzalo, all tax returns which were due by October 15, 2014 will be processed without. .. Immigration issues emergency work permits The Department of Immigration is issuing emergency work permits to businesses to get in short-term help to deal with the impact of Hurricane Gonzalo. In a statement released today, the Department said These permits will enable businesses to bring in the personnel needed to provide the added support and resources required to sustain that. .. http://www.royalgazette.com/article/20141020/BUSINESS/141029981&source=RSS Mon, 20 Oct 2014 14:48:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS/141029981&source=RSS The Department of Immigration is issuing emergency work permits to businesses to get in short-term help to deal with the impact of Hurricane Gonzalo. In a statement released today, the Department said These permits will enable businesses to bring in the personnel needed to provide the added support and resources required to sustain that. .. ILS on track for record year This is destined to be a record year for insurance-linked securities issuance despite a relatively quiet third quarter, according to Willis Capital Markets and Advisory. The global risk adviser, insurance and reinsurance broker, said only one ILS transaction came to market during the July through September period the Golden State Re. .. http://www.royalgazette.com/article/20141020/BUSINESS04/141029992&source=RSS Mon, 20 Oct 2014 02:26:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS04/141029992&source=RSS This is destined to be a record year for insurance-linked securities issuance despite a relatively quiet third quarter, according to Willis Capital Markets and Advisory. The global risk adviser, insurance and reinsurance broker, said only one ILS transaction came to market during the July through September period the Golden State Re. .. Hiscox gives new roles to Island-based pair Hiscox Re has made two senior appointments of Bermuda-based staff members. Bevis Tetlow has been appointed to a new role as chairman of North America and Caribbean, and Philip Vandoninck also to a new role of chairman of International. Mr Tetlow joined Hiscox in 2005 and has previously had roles at Risk Management Solutions as well. .. http://www.royalgazette.com/article/20141020/BUSINESS04/141029993&source=RSS Mon, 20 Oct 2014 02:26:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS04/141029993&source=RSS Hiscox Re has made two senior appointments of Bermuda-based staff members. Bevis Tetlow has been appointed to a new role as chairman of North America and Caribbean, and Philip Vandoninck also to a new role of chairman of International. Mr Tetlow joined Hiscox in 2005 and has previously had roles at Risk Management Solutions as well. .. Duperreault Reinsurers must adapt to new world of risk <img src="/storyimage/RG/20141020/BUSINESS04/141029994/AR/0/AR-141029994.jpg" width="100" align="left" /></a> The reinsurance industry has been slow to respond to new risks because of its tendency to look to the past to predict the future, according to Brian Duperreault. The Hamilton Insurance Group chief executive officer, speaking yesterday at the opening of the Baden-Baden Reinsurance Symposium in Germany, added that reinsurers had new roles. .. http://www.royalgazette.com/article/20141020/BUSINESS04/141029994&source=RSS Mon, 20 Oct 2014 02:23:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS04/141029994&source=RSS <img src="/storyimage/RG/20141020/BUSINESS04/141029994/AR/0/AR-141029994.jpg" width="100" align="left" class="main-image" /></a> The reinsurance industry has been slow to respond to new risks because of its tendency to look to the past to predict the future, according to Brian Duperreault. The Hamilton Insurance Group chief executive officer, speaking yesterday at the opening of the Baden-Baden Reinsurance Symposium in Germany, added that reinsurers had new roles. .. Ascendant slips 0.8 Only shares of Ascendant Group Ltd moved in a quiet week on the Bermuda Stock Exchange, which was shortened by the visit of Hurricane Gonzalo. The BSX closed early on Thursday and completely on Friday as the storm bore down on the Island. Ascendant, the parent company of electricity provider Belco, fell five cents, or 0. 8 percent,. .. http://www.royalgazette.com/article/20141020/BUSINESS06/141029995&source=RSS Mon, 20 Oct 2014 02:23:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS06/141029995&source=RSS Only shares of Ascendant Group Ltd moved in a quiet week on the Bermuda Stock Exchange, which was shortened by the visit of Hurricane Gonzalo. The BSX closed early on Thursday and completely on Friday as the storm bore down on the Island. Ascendant, the parent company of electricity provider Belco, fell five cents, or 0. 8 percent,. .. Insurers busy with hurricane claims <img src="/storyimage/RG/20141020/BUSINESS/141029996/AR/0/AR-141029996.jpg" width="100" align="left" /></a> Insurers opened for business over the weekend as they dealt with a rush of claims after the direct hit from Hurricane Gonzalo. Freisenbruch-Meyer, Argus, BFampM and Colonial were busy as hundreds of residents reported damage to their property. A spokesman for Colonial said yesterday afternoon that the company had received 100. .. http://www.royalgazette.com/article/20141020/BUSINESS/141029996&source=RSS Mon, 20 Oct 2014 02:22:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS/141029996&source=RSS <img src="/storyimage/RG/20141020/BUSINESS/141029996/AR/0/AR-141029996.jpg" width="100" align="left" class="main-image" /></a> Insurers opened for business over the weekend as they dealt with a rush of claims after the direct hit from Hurricane Gonzalo. Freisenbruch-Meyer, Argus, BFampM and Colonial were busy as hundreds of residents reported damage to their property. A spokesman for Colonial said yesterday afternoon that the company had received 100. .. Modellers Eye of storm spared us a worse hit <img src="/storyimage/RG/20141020/BUSINESS/141029997/AR/0/AR-141029997.jpg" width="100" align="left" /></a> Damage from Hurricane Gonzalo could have been much worse had the storms eye not passed directly over Bermuda and had Tropical Storm Fay not visited less than a week earlier. That is the view of experts from catastrophe modelling firm AIR Worldwide, who said the diameter of Gonzalos eye was twice the length of Bermuda. Scott. .. http://www.royalgazette.com/article/20141020/BUSINESS/141029997&source=RSS Mon, 20 Oct 2014 02:20:00 GMT http://www.royalgazette.com/article/20141020/BUSINESS/141029997&source=RSS <img src="/storyimage/RG/20141020/BUSINESS/141029997/AR/0/AR-141029997.jpg" width="100" align="left" class="main-image" /></a> Damage from Hurricane Gonzalo could have been much worse had the storms eye not passed directly over Bermuda and had Tropical Storm Fay not visited less than a week earlier. That is the view of experts from catastrophe modelling firm AIR Worldwide, who said the diameter of Gonzalos eye was twice the length of Bermuda. Scott. .. Banks to reopen on Monday HSBC Bank Bermuda Ltd, Butterfield Bank and Clarien Bank will be open as usual tomorrow. In a statement, HSBC Bermuda said that all employees are requested to come into work. If you are unable to do so, please let your manager know as soon as possible. Clarien co-CEO Ian Truran said Our priority is always the safety of our. .. http://www.royalgazette.com/article/20141019/BUSINESS03/141019678&source=RSS Mon, 20 Oct 2014 00:08:00 GMT http://www.royalgazette.com/article/20141019/BUSINESS03/141019678&source=RSS HSBC Bank Bermuda Ltd, Butterfield Bank and Clarien Bank will be open as usual tomorrow. In a statement, HSBC Bermuda said that all employees are requested to come into work. If you are unable to do so, please let your manager know as soon as possible. Clarien co-CEO Ian Truran said Our priority is always the safety of our. .. Digicel and CellOne make progress on repairs Wireless services providers have been working to repair their hurricane-damaged networks over the weekend. Digicel said a team of eight experts flew in today to bolster the companys repair efforts, while CellOne said its network was up to three-quarters of capacity by Saturday night. Alistair Beak, CEO of Digicel Bermuda. .. http://www.royalgazette.com/article/20141019/BUSINESS03/141019677&source=RSS Sun, 19 Oct 2014 23:03:00 GMT http://www.royalgazette.com/article/20141019/BUSINESS03/141019677&source=RSS Wireless services providers have been working to repair their hurricane-damaged networks over the weekend. Digicel said a team of eight experts flew in today to bolster the companys repair efforts, while CellOne said its network was up to three-quarters of capacity by Saturday night. Alistair Beak, CEO of Digicel Bermuda. ..