Business http://www.royalgazette.com Business en-us KeyTech shares fall 1.9 The Royal GazetteBSX closed down 3. 8 points 0. 3 per cent at 1,243. 64. The Bank of Butterfield saw its price end the day one cent down 0. 6 per cent at 1. 75 after 2,935 shares traded. Utilities firm KeyTech, which last week posted losses of 1. 9 million for the financial year ending in March, fell five cents 1. 9 per cent to. .. http://www.royalgazette.com/article/20150803/BUSINESS06/150809936&source=RSS Mon, 03 Aug 2015 22:17:00 GMT http://www.royalgazette.com/article/20150803/BUSINESS06/150809936&source=RSS Schrum joins Butterfield from HSBC Bermuda Former HSBC chief financial officer Michael Schrum has jumped ship to Butterfield Bank. Mr Schrum will become group chief financial officer at Butterfield at the end of next month. Butterfield chairman and CEO Brendan McDonagh said I am pleased to welcome Michael to Butterfield as our new group chief financial officer. With. .. http://www.royalgazette.com/article/20150803/BUSINESS/150809937&source=RSS Mon, 03 Aug 2015 20:13:00 GMT http://www.royalgazette.com/article/20150803/BUSINESS/150809937&source=RSS Gap between revenue and expenditure narrows The gap between Bermuda Governments revenue and expenditure narrowed during the first three months of the year compared with the same period a year ago. Government reported revenue of 244. 6 million between January and March, up 3. 7 per cent, while expenditure rose to 286. 4 million, an increase of 2 per cent. The data was released. .. http://www.royalgazette.com/article/20150803/BUSINESS/150809938&source=RSS Mon, 03 Aug 2015 19:08:00 GMT http://www.royalgazette.com/article/20150803/BUSINESS/150809938&source=RSS PartnerRe agrees to Exor takeover PartnerRe has agreed to be bought out by Italian investment firm Exor in a 6. 9 billion deal. The reinsurer has scrapped its previous plan to merge with fellow Bermuda firm Axis Capital. Exor, which is controlled by the wealthy Agnelli family, will pay 140. 50 per share including a special pre-closing dividend of 3 per share. http://www.royalgazette.com/article/20150803/BUSINESS04/150809944&source=RSS Mon, 03 Aug 2015 12:36:00 GMT http://www.royalgazette.com/article/20150803/BUSINESS04/150809944&source=RSS Goslings revive a classic label Get ready to experience a sense of dj vu when you purchase a bottle of Goslings Black Seal rum during the next few months, because retro bottles featuring the same label design used in the 1960s are about to hit the shelves. For a limited time the iconic Island drink is being sold in bottles that resemble those from 50 years ago. http://www.royalgazette.com/article/20150803/BUSINESS03/150809970&source=RSS Mon, 03 Aug 2015 00:13:00 GMT http://www.royalgazette.com/article/20150803/BUSINESS03/150809970&source=RSS Advisory firms weigh in on PartnerRe options Two more proxy advisory firms have recommended PartnerRe shareholders to vote against a merger with Axis Capital. Proxy Mosaic said that a rival all-cash 6. 8 billion bid by Italian investment firm Exor for PartnerRe outweighs the potential upside in the Axis economically inferior offer. It added We suspect that the upside to. .. http://www.royalgazette.com/article/20150803/BUSINESS04/150809971&source=RSS Mon, 03 Aug 2015 00:12:00 GMT http://www.royalgazette.com/article/20150803/BUSINESS04/150809971&source=RSS BSX closes higher The Royal GazetteBSX Index closed higher at the end of the holiday-shortened week, finishing 3. 5 points 0. 28 per cent higher at 1,247. 44. The Index was closed on Thursday and Friday. Shares of Watlington Waterworks improved 25 cents 1. 3 per cent to close at 20. 25 after 1,000 were traded. Also improving last week were shares of. .. http://www.royalgazette.com/article/20150803/BUSINESS06/150809972&source=RSS Mon, 03 Aug 2015 00:11:00 GMT http://www.royalgazette.com/article/20150803/BUSINESS06/150809972&source=RSS Endurance completes Montpelier Re acquisition Endurance Specialty Holdings has completed its acquisition of fellow Bermuda-based reinsurer Montpelier Re Holdings. The 1. 83 billion cash-and-shares deal was announced in March when the boards of directors of both companies unanimously approved the merger. With the granting of all necessary regulatory approvals, the acquisition. .. http://www.royalgazette.com/article/20150802/BUSINESS04/150809973&source=RSS Sun, 02 Aug 2015 19:38:00 GMT http://www.royalgazette.com/article/20150802/BUSINESS04/150809973&source=RSS Those in the Sandwich Generation need a plan Dear Dave,My husband and I are both 50, and we make about 50,000 a year. We have a little bit of debt, and recently my mother-in-law moved in with us due to health issues. Weve always gotten by, but now were struggling with the additional expense of having her with us. We love her, but were unsure what to do financially. Do you have. .. http://www.royalgazette.com/article/20150801/BUSINESS08/150809999&source=RSS Fri, 31 Jul 2015 22:48:00 GMT http://www.royalgazette.com/article/20150801/BUSINESS08/150809999&source=RSS Lancashire CEO not convinced by mergers Insurance and reinsurance firm Lancashire has rejected the idea of a merger with another firm as a way to boost business. Company CEO Alex Maloney said I dont really buy the bigger is better thing. I see no evidence of any of the companies that have got together to be super-companies with a bigger market share on the back of. .. http://www.royalgazette.com/article/20150731/BUSINESS04/150739993&source=RSS Fri, 31 Jul 2015 20:22:00 GMT http://www.royalgazette.com/article/20150731/BUSINESS04/150739993&source=RSS KeyTech reports 1.9m comprehensive loss Telecoms firm KeyTech today posted losses of 1. 9 million for the year ended in March. The figure was 200,000 up on losses for the previous year. A statement from the firm added Net loss for the year from continuing operations was 15. 9 million versus 2. 1 million in the prior year. A loss of 18. 6 million was attributed. .. http://www.royalgazette.com/article/20150729/BUSINESS/150739998&source=RSS Mon, 03 Aug 2015 16:23:00 GMT http://www.royalgazette.com/article/20150729/BUSINESS/150739998&source=RSS Lantana up for sale for 16.9m The sprawling former Lantana cottage colony is up for sale with a 16. 9 million price tag. The ten-acre Sandys property with views of the Great Sound, the venue for the Americas Cup in 2017, has been closed for decades. It was bought by US business tycoon Larry Doyle, who also owns the Newstead hotel and Belmont golf course, in. .. http://www.royalgazette.com/article/20150729/BUSINESS/150729636&source=RSS Wed, 29 Jul 2015 20:50:00 GMT http://www.royalgazette.com/article/20150729/BUSINESS/150729636&source=RSS Validus takes 48m hit from oil rig blast Validus Holdings Ltd took a 48 million hit from claims related to an oil rig explosion that left four people dead, the Bermuda reinsurer revealed last night. The platform, which was owned by Mexican state-run oil company Pemex, burst into flames in April this year. A fleet of fire boats was sent out to extinguish the blaze after more. .. http://www.royalgazette.com/article/20150729/BUSINESS04/150729635&source=RSS Tue, 28 Jul 2015 23:56:00 GMT http://www.royalgazette.com/article/20150729/BUSINESS04/150729635&source=RSS MMC sees US domicile as tax disadvantage Global insurance and reinsurance broker Marsh amp McLennan Cos MMC is looking for ways to trim its tax bill. In a conference call yesterday, Dan Glaser, the New York-based companys chief executive officer, said The search for tax efficiency for us started several years ago. Clearly, when we look at our competitors, we are at. .. http://www.royalgazette.com/article/20150729/BUSINESS04/150729637&source=RSS Tue, 28 Jul 2015 23:54:00 GMT http://www.royalgazette.com/article/20150729/BUSINESS04/150729637&source=RSS Axis posts net income of 94m Axis yesterday reported profits of 94 million for the second quarter of the year. Chief executive officer Albert Benchimol said book value, adjusted for dividends, grew 7 per cent over the last year. Mr Benchimol added Notwithstanding a more challenging market environment, we continue to make progress on our underwriting. .. http://www.royalgazette.com/article/20150729/BUSINESS04/150729638&source=RSS Tue, 28 Jul 2015 23:53:00 GMT http://www.royalgazette.com/article/20150729/BUSINESS04/150729638&source=RSS