Business http://www.royalgazette.com Business en-us BMA says multi-sector growth denotes Bermudas financial services resilience <img src="/storyimage/RG/20140729/BUSINESS/140739986/AR/0/AR-140739986.jpg" width="100" align="left" /></a> Bermuda Monetary AuthorityPress releaseNew H1 2014 entities span entire range of financial services, from captives and commercial insurance to new investment funds and related businessesHAMILTON, BERMUDA First half statistics released today by the Bermuda Monetary Authority the Authority demonstrate the continued. .. http://www.royalgazette.com/article/20140729/BUSINESS/140739986&source=RSS Wed, 30 Jul 2014 00:18:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS/140739986&source=RSS <img src="/storyimage/RG/20140729/BUSINESS/140739986/AR/0/AR-140739986.jpg" width="100" align="left" class="main-image" /></a> Bermuda Monetary AuthorityPress releaseNew H1 2014 entities span entire range of financial services, from captives and commercial insurance to new investment funds and related businessesHAMILTON, BERMUDA First half statistics released today by the Bermuda Monetary Authority the Authority demonstrate the continued. .. BizCamp winners announced <img src="/storyimage/RG/20140729/BUSINESS03/140729696/AR/0/AR-140729696.jpg" width="100" align="left" /></a> A business to build high performance customised computers and a scheme to launch a water shuttle from the airport took top honours at the 2014 YEI BizCamp over the past three weeks. Nicholas Kempe, chairman of the Bermuda Economic Development Corporation, who led the judging for the two sessions of BizCamp stated I was impressed with. .. http://www.royalgazette.com/article/20140729/BUSINESS03/140729696&source=RSS Tue, 29 Jul 2014 15:58:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS03/140729696&source=RSS <img src="/storyimage/RG/20140729/BUSINESS03/140729696/AR/0/AR-140729696.jpg" width="100" align="left" class="main-image" /></a> A business to build high performance customised computers and a scheme to launch a water shuttle from the airport took top honours at the 2014 YEI BizCamp over the past three weeks. Nicholas Kempe, chairman of the Bermuda Economic Development Corporation, who led the judging for the two sessions of BizCamp stated I was impressed with. .. Hiscox writes less reinsurance as rates slide <img src="/storyimage/RG/20140729/BUSINESS04/140729719/AR/0/AR-140729719.jpg" width="100" align="left" /></a> Hiscox wrote less reinsurance business in the first half of this year as rates softened and chairman Robert Childs said the company will walk away from more business if it considers pricing to be inadequate. The global insurer and reinsurer, whose head office in Bermuda employs about 60 people and houses its largest reinsurance. .. http://www.royalgazette.com/article/20140729/BUSINESS04/140729719&source=RSS Tue, 29 Jul 2014 00:37:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS04/140729719&source=RSS <img src="/storyimage/RG/20140729/BUSINESS04/140729719/AR/0/AR-140729719.jpg" width="100" align="left" class="main-image" /></a> Hiscox wrote less reinsurance business in the first half of this year as rates softened and chairman Robert Childs said the company will walk away from more business if it considers pricing to be inadequate. The global insurer and reinsurer, whose head office in Bermuda employs about 60 people and houses its largest reinsurance. .. PartnerRe swings to 257m profit <img src="/storyimage/RG/20140729/BUSINESS04/140729721/AR/0/AR-140729721.jpg" width="100" align="left" /></a> PartnerRe Ltd last night reported a second-quarter profit of more than a quarter of a billion dollars a dramatic improvement from the 190 million net loss it posted in the corresponding period last year. The Bermuda-based global reinsurer said net income totalled 257. 7 million, or 5. 02 per share. Of that, realised and unrealised. .. http://www.royalgazette.com/article/20140729/BUSINESS04/140729721&source=RSS Tue, 29 Jul 2014 00:36:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS04/140729721&source=RSS <img src="/storyimage/RG/20140729/BUSINESS04/140729721/AR/0/AR-140729721.jpg" width="100" align="left" class="main-image" /></a> PartnerRe Ltd last night reported a second-quarter profit of more than a quarter of a billion dollars a dramatic improvement from the 190 million net loss it posted in the corresponding period last year. The Bermuda-based global reinsurer said net income totalled 257. 7 million, or 5. 02 per share. Of that, realised and unrealised. .. Dont hesitate just act Act. Have you ever noticed how many words contain this little word? As per my search it totals 1,165 words. You might say that this is a very powerful little word! Think about its implications take one word and the following actions create so many possibilities. What are your possibilities if you take this little work and develop your act. .. http://www.royalgazette.com/article/20140729/BUSINESS09/140729723&source=RSS Tue, 29 Jul 2014 00:35:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS09/140729723&source=RSS Act. Have you ever noticed how many words contain this little word? As per my search it totals 1,165 words. You might say that this is a very powerful little word! Think about its implications take one word and the following actions create so many possibilities. What are your possibilities if you take this little work and develop your act. .. XL posts 279m loss related to life reinsurer sale <img src="/storyimage/RG/20140729/BUSINESS04/140729725/AR/0/AR-140729725.jpg" width="100" align="left" /></a> XL Group plc yesterday announced a second-quarter net loss attributable to ordinary shareholders of 279. 3 million compared to net income of 272. 7 million in the prior year quarter, primarily due to a 621. 3 million after-tax loss on the sale of their life reinsurance subsidiary. The companys operating profit of 279. 6 million for the. .. http://www.royalgazette.com/article/20140729/BUSINESS04/140729725&source=RSS Tue, 29 Jul 2014 00:33:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS04/140729725&source=RSS <img src="/storyimage/RG/20140729/BUSINESS04/140729725/AR/0/AR-140729725.jpg" width="100" align="left" class="main-image" /></a> XL Group plc yesterday announced a second-quarter net loss attributable to ordinary shareholders of 279. 3 million compared to net income of 272. 7 million in the prior year quarter, primarily due to a 621. 3 million after-tax loss on the sale of their life reinsurance subsidiary. The companys operating profit of 279. 6 million for the. .. Waterless car washer another entrepreneur emerges from tough economy <img src="/storyimage/RG/20140729/BUSINESS03/140729726/AR/0/AR-140729726.jpg" width="100" align="left" /></a> Todays economy is causing people to step out of their comfort zone and try something completely different. Kim Wilson, a popular bar tender, has traded polishing drinks glasses, for polishing cars. Her new business, Bermuda DryWash, came about in a very unusual way. I hadnt had a full-time job in quite some time, Ms Wilson said. http://www.royalgazette.com/article/20140729/BUSINESS03/140729726&source=RSS Tue, 29 Jul 2014 00:32:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS03/140729726&source=RSS <img src="/storyimage/RG/20140729/BUSINESS03/140729726/AR/0/AR-140729726.jpg" width="100" align="left" class="main-image" /></a> Todays economy is causing people to step out of their comfort zone and try something completely different. Kim Wilson, a popular bar tender, has traded polishing drinks glasses, for polishing cars. Her new business, Bermuda DryWash, came about in a very unusual way. I hadnt had a full-time job in quite some time, Ms Wilson said. Montpelier Re achieves strong underwriting profits <img src="/storyimage/RG/20140729/BUSINESS04/140729727/AR/0/AR-140729727.jpg" width="100" align="left" /></a> Bermuda reinsurer Montpelier Re Holdings Ltd yesterday posted second-quarter earnings figures highlighted by strong underwriting profitability. A leading provider of short-tail reinsurance and other speciality lines, Montpeliers results included a 77 percent combined ratio and a loss ratio of 41 percent for the three months to June 30. http://www.royalgazette.com/article/20140729/BUSINESS04/140729727&source=RSS Tue, 29 Jul 2014 00:28:00 GMT http://www.royalgazette.com/article/20140729/BUSINESS04/140729727&source=RSS <img src="/storyimage/RG/20140729/BUSINESS04/140729727/AR/0/AR-140729727.jpg" width="100" align="left" class="main-image" /></a> Bermuda reinsurer Montpelier Re Holdings Ltd yesterday posted second-quarter earnings figures highlighted by strong underwriting profitability. A leading provider of short-tail reinsurance and other speciality lines, Montpeliers results included a 77 percent combined ratio and a loss ratio of 41 percent for the three months to June 30. BSX holds steady The Royal GazetteBermuda Stock Exchange Index remained unchanged on 1,371. 68 today as only Ascendant Group Ltd traded among domestic-board issuers. Ascendant, which owns electricity provider Belco, remained on 6. 20 as 6,000 of its shares changed hands. Among international companies listed on the BSX, 19,084 shares of HSBC Holdings. .. http://www.royalgazette.com/article/20140728/BUSINESS06/140729731&source=RSS Mon, 28 Jul 2014 22:56:00 GMT http://www.royalgazette.com/article/20140728/BUSINESS06/140729731&source=RSS The Royal GazetteBermuda Stock Exchange Index remained unchanged on 1,371. 68 today as only Ascendant Group Ltd traded among domestic-board issuers. Ascendant, which owns electricity provider Belco, remained on 6. 20 as 6,000 of its shares changed hands. Among international companies listed on the BSX, 19,084 shares of HSBC Holdings. .. Bermudas wealth gap getting wider economist Wealth inequality in Bermuda is the worst its been over the last century, according to economist and Bermuda College lecturer Craig Simmons. The economist warned that failing to listen to the concerns of the people would only encourage the now ubiquitous cries of distemper. Lets first accept that the level of inequality in Bermuda. .. http://www.royalgazette.com/article/20140728/BUSINESS01/140729759&source=RSS Mon, 28 Jul 2014 21:26:00 GMT http://www.royalgazette.com/article/20140728/BUSINESS01/140729759&source=RSS Wealth inequality in Bermuda is the worst its been over the last century, according to economist and Bermuda College lecturer Craig Simmons. The economist warned that failing to listen to the concerns of the people would only encourage the now ubiquitous cries of distemper. Lets first accept that the level of inequality in Bermuda. .. BCB awards scholarship <img src="/storyimage/RG/20140728/BUSINESS/140729732/AR/0/AR-140729732.jpg" width="100" align="left" /></a> Bermuda Commercial Bank has awarded a GOLD level scholarship to Dominic Tessitore, a 2014 graduate of the Berkeley InstituteHe was presented his scholarship on Tuesday, July 22nd by Sponsorship Committee members Angelique Dowling and Stephen Outerbridge. Bermuda Commercial Bank is thrilled to award 5,000 towards a student wishing. .. http://www.royalgazette.com/article/20140728/BUSINESS/140729732&source=RSS Mon, 28 Jul 2014 20:23:00 GMT http://www.royalgazette.com/article/20140728/BUSINESS/140729732&source=RSS <img src="/storyimage/RG/20140728/BUSINESS/140729732/AR/0/AR-140729732.jpg" width="100" align="left" class="main-image" /></a> Bermuda Commercial Bank has awarded a GOLD level scholarship to Dominic Tessitore, a 2014 graduate of the Berkeley InstituteHe was presented his scholarship on Tuesday, July 22nd by Sponsorship Committee members Angelique Dowling and Stephen Outerbridge. Bermuda Commercial Bank is thrilled to award 5,000 towards a student wishing. .. Noonan Dont write off traditional reinsurance Dont be too quick to write off traditional reinsurance it has some important advantages over the new wave of alternative capital. That is the view of Validus Holdings Ltd CEO Ed Noonan, speaking in an interview with The Royal Gazette, after the Bermuda company last week announced a second-quarter profit of 153. 4 million. In the. .. http://www.royalgazette.com/article/20140728/BUSINESS04/140729762&source=RSS Sun, 27 Jul 2014 23:08:00 GMT http://www.royalgazette.com/article/20140728/BUSINESS04/140729762&source=RSS Dont be too quick to write off traditional reinsurance it has some important advantages over the new wave of alternative capital. That is the view of Validus Holdings Ltd CEO Ed Noonan, speaking in an interview with The Royal Gazette, after the Bermuda company last week announced a second-quarter profit of 153. 4 million. In the. .. Aspen says shareholders have rejected Endurances proposals <img src="/storyimage/RG/20140728/BUSINESS04/140729763/AR/0/AR-140729763.jpg" width="100" align="left" /></a> Aspen Insurance Holdings Ltd says its shareholders have rejected Endurance Specialty Holdings Ltds proposals to move forward with its hostile takeover attempt. Last Friday was the target date set by Endurance for receiving consents from Aspen shareholders to hold a special meeting aimed at expanding and shaking up and expanding the Aspen. .. http://www.royalgazette.com/article/20140728/BUSINESS04/140729763&source=RSS Sun, 27 Jul 2014 23:08:00 GMT http://www.royalgazette.com/article/20140728/BUSINESS04/140729763&source=RSS <img src="/storyimage/RG/20140728/BUSINESS04/140729763/AR/0/AR-140729763.jpg" width="100" align="left" class="main-image" /></a> Aspen Insurance Holdings Ltd says its shareholders have rejected Endurance Specialty Holdings Ltds proposals to move forward with its hostile takeover attempt. Last Friday was the target date set by Endurance for receiving consents from Aspen shareholders to hold a special meeting aimed at expanding and shaking up and expanding the Aspen. .. Blue Capital earnings hit by tornadoes Bermuda-based Blue Capital Reinsurance Holdings Ltd made a profit of 1. 2 million in the second quarter, as tornadoes and windstorms took their toll. The company, which offers collateralised reinsurance products, invests in insurance-linked securities and is a subsidiary of Bermuda reinsurer Montpelier Re, said its net income and. .. http://www.royalgazette.com/article/20140728/BUSINESS04/140729764&source=RSS Sun, 27 Jul 2014 23:06:00 GMT http://www.royalgazette.com/article/20140728/BUSINESS04/140729764&source=RSS Bermuda-based Blue Capital Reinsurance Holdings Ltd made a profit of 1. 2 million in the second quarter, as tornadoes and windstorms took their toll. The company, which offers collateralised reinsurance products, invests in insurance-linked securities and is a subsidiary of Bermuda reinsurer Montpelier Re, said its net income and. .. Coming up Five lean but volatile years Even adjusting for extraordinarily low interest rates, global equities are expensive and finding double-digit annual real returns over the next five years is going to be tough. Whats worse, key markets, notably the US, are so overpriced that there is a high likelihood of an upcoming correction, according to a new study by Joachim Klement. .. http://www.royalgazette.com/article/20140726/BUSINESS08/140729795&source=RSS Fri, 25 Jul 2014 22:44:00 GMT http://www.royalgazette.com/article/20140726/BUSINESS08/140729795&source=RSS Even adjusting for extraordinarily low interest rates, global equities are expensive and finding double-digit annual real returns over the next five years is going to be tough. Whats worse, key markets, notably the US, are so overpriced that there is a high likelihood of an upcoming correction, according to a new study by Joachim Klement. ..