2353 results returned for search: "" category "Other" author Jonathan Kent
Insurer and investment company BF&M yesterday announced its profits for the first nine months of the year fell by 29 percent as the value of its investments plunged by almost $15 million.
The Bermuda-based group recorded profits of $15.4 million thro...
DATE: Nov 20, 2008
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AUTHOR:
Jonathan Kent
Ace Ltd.'s shares fell 20 percent — the most in 15 years — after Citigroup Inc. downgraded the firm on an analyst's expectations of reinsurance costs arising from equity-based retirement products.
Last night the insurer responded by saying that even ...
DATE: Nov 20, 2008
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AUTHOR:
Jonathan Kent
Bermuda's major US-listed insurers expect to pay out a combined total of more than $3 billion in claims for hurricanes Gustav and Ike alone.
And combined with investment losses emanating from the ongoing turmoil on the world markets, that made for a ...
DATE: Nov 19, 2008
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AUTHOR:
Jonathan Kent
One of Bermuda's leading insurance bosses yesterday issued a stark warning about multiple threats to the Island's future as an international business jurisdiction amid the ongoing global financial crisis.
XL Capital chief executive officer Michael Mc...
DATE: Nov 19, 2008
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AUTHOR:
Jonathan Kent
International business leader David Ezekiel yesterday called upon Government to encourage job-creating businesses to Bermuda as the Island faced up to the impact of the global financial crisis.
Speaking at the annual general meeting of the Associatio...
DATE: Nov 19, 2008
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AUTHOR:
Jonathan Kent
Bermuda-based financial guarantor Syncora Holdings Ltd. last night admitted its management had "substantial doubt" about the company's ability to continue as a going concern after it announced a net loss of $1.34 billion for the third quarter.
In its...
DATE: Nov 18, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
The fallout from the turmoil on the global markets will result in less competition for Bermuda reinsurers from the capital markets.
That is the view of XL Capital Ltd. chief executive officer Michael McGavick, who believes a combination of factors wi...
DATE: Nov 14, 2008
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AUTHOR:
Jonathan Kent
XL Capital chief executive Michael McGavick says his company is competing well in the insurance market and is hopeful that its progress will eventually be reflected in the company's share price.
He also told The Royal Gazette the strategic review of ...
DATE: Nov 14, 2008
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AUTHOR:
Jonathan Kent
The clouds of economic gloom may be gathering - but the silver lining for Bermudians is the rising value of the dollar.
Yesterday the pound briefly dropped below $1.50 for the first time since 2002. During the summer, sterling was valued at more than...
DATE: Nov 13, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
The Bermuda Commercial Bank yesterday reported an $5.16 million profit, despite seeing a loss of nearly $150 million in deposits as client investment funds hit by the global financial crisis withdrew their money.
BCB president John Sainsbury said the...
DATE: Nov 13, 2008
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
