76407 results returned for search: "" category "Business"
Around 40 people will lose their jobs as the result of Endurance Specialty Holdings’ takeover of Montpelier Reinsurance, according to one source who claimed to have knowledge of the matter.
The source, who said she was a relative of one of those to l...
DATE: Aug 06, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Jonathan Kent
Financial services company LOM is to buy back up to 200,000 of its own shares for cancellation.
LOM Financial Ltd’s board has authorised the buy-back scheme, which represents around 3.3 per cent of the overall listed securities of the company.
The fi...
DATE: Aug 06, 2015
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CATEGORY:
Local Business
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AUTHOR:
Raymond Hainey, Assistant News Editor
Bermuda’s international insurance sector pumped more that $900 million into the Island’s economy last year.
The $901.5 million figure was up $14.8 million on 2013.
The figures came in the annual economic survey by the Association of Bermuda Insurers ...
DATE: Aug 06, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
A total of 15,400 shares worth $38,880 traded on The Royal Gazette/BSX Index.
Bank of Butterfield saw 15,000 shares change hands, leaving its price unchanged at $1.80.
While five of the bank’s preference shares also traded, with the price down $2.49 ...
DATE: Aug 06, 2015
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CATEGORY:
Bermuda Stock Exchange
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Former minister Quinton Edness has implored the Bermuda Government to impose cuts rather than draw on its $200 million loan agreement with Butterfield Bank.
Mr Edness warned last night that incurring further debt on top of the existing $2.185 billio...
DATE: Aug 05, 2015
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CATEGORY:
Economy
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AUTHOR:
Jonathan Bell
Two ratings agencies have downgraded reinsurance firm PartnerRe after Italian investment giant Exor won control of the company.
Standard & Poor (S&P) changed its outlook on PartnerRe from stable to negative after Monday’s $6.9 billion takeover, which...
DATE: Aug 05, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
Insurance and reinsurance firm Argo Group yesterday reported $27.9 million in profits for the second quarter of the year.
The net income was nearly 28 per cent down on the $38.6 million recorded for the same quarter last year.
The latest figure is eq...
DATE: Aug 05, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
British Airways has responded to increasing frustration and dismay expressed in the wake of delays and cancellations on its service between Bermuda and London this year.
The airline, which operates the only direct flights between the Island and the U...
DATE: Aug 05, 2015
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CATEGORY:
Other
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AUTHOR:
Scott Neil
Bermuda CableVision chief Terry Roberson has left the firm.
The move comes only weeks after the cable TV company joined forces with internet provider Logic under the KeyTech banner.
Now KeyTech CEO Lloyd Fray has taken over as acting CEO of Logic.
A ...
DATE: Aug 05, 2015
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CATEGORY:
Local Business
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AUTHOR:
Raymond Hainey, Assistant News Editor
Bermuda insurance firm Arch will not make a bid for rival Axis after it failed in a merger bid with PartnerRe, according to a report out of the UK.
London-based trade publication The Insurance Insider suggested that Arch, which has been linked to Axi...
DATE: Aug 05, 2015
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
