Amlin Bermuda Ltd., Amlin's wholly owned reinsurance business, has appointed
Richard Holde> as an underwriter, reporting to underwriting director, John Andrews.Mr. Holden joins from Wellington Underwriting Plc, the Lloyd's syndicate which merged with Catlin in December, 2006. He joined the company in 2001, having studied Business and Economics at Cardiff University, and has held various roles in marine hull, liability, cargo and specie classes. For the last three years, Richard has been a non-marine Property Treaty underwriter. He is ACII qualified and an experienced user of RMS and AIR catastrophe modelling tools.Bermuda Stock Exchange-listed
Utilico Emerging Markets Ltd. has negotiated new banking facilities totalling $60 million with Bank of Scotland Corporate.Utilico, which invests in utilities and related companies in emerging markets, said the multi-currency facility is secured on the assets of UEM and consists of three tranches, each for $20 million and maturing in 12 months, 36 months and 60 months respectively.“The initial drawings under the facility will be $20 million from tranche A and $15 million from tranche B,” Utilico said. “The proceeds will be used to repay the existing Royal Bank of Scotland facility of $25 million and to provide funds for investment into the market.”The Bermuda Stock Exchange announced this week thaB>Ascendant Holdings Ltd. will voluntarily withdraw from its BSX listing.The Exchange has set the date for Ascendant Holdings Ltd., which operates gold mines in Ecuador, to be delisted as of June 5, 2007.