75946 results returned for search: "" category "Business"
Ratings firm AM Best has downgraded the financial strength rating to B (fair) from B+ (good) and issuer credit ratings to “bb” from “bbb-” of Bermuda-based Ability Reinsurance (Bermuda) Ltd and Ability Insurance Company (AIC), collectively referred t...
DATE: Nov 30, 2012
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CATEGORY:
Reinsurance
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Argus Group fell 25 cents (7.35 percent) on the Bermuda Stock Exchange yesterday, trading 800 shares to close at $3.15.
Butterfield Bank, BF&M, Ascendant Group and KeyTech all traded shares, closing at $1.25, $16, $11.50 and $5.75, all with no change...
DATE: Nov 30, 2012
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CATEGORY:
Bermuda Stock Exchange
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HSBC Bermuda has made close to ten employees redundant as the bank continues to assess its business model.
According to a statement from HSBC: “As we continue to assess the business and align with target operating models, we have had to reduce a numb...
DATE: Nov 30, 2012
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CATEGORY:
Local Business
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The Washington Mall has announced that it will hold its first Indoor Christmas market on Fridays, Saturdays and Sundays from December 1 to 16.
The market will have stalls featuring vendors with unusual gifts in the lead up to the holiday season. The...
DATE: Nov 30, 2012
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CATEGORY:
Local Business
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The winners of the fifth annual Rocket Pitch Competition were announced yesterday, a contest that saw eight entrepreneurs pitch a panel of experts on the viability of their new business idea.
First place went to Laura Lyons for Avisrara, an Online A...
DATE: Nov 30, 2012
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CATEGORY:
Local Business
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The parent company of shipping firm Stevedoring has filed for relief from the 60-40 rule.
In a filing to the Bermuda Stock Exchange (BSX), Polaris Holding Company Ltd gave notice of the company’s intent, effective January 2013, to seek relief from t...
DATE: Nov 29, 2012
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CATEGORY:
Local Business
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XL Group CEO Michael McGavick has been elected as the new chairman of the board for the Association of Bermuda Insurers and Reinsurers (ABIR), effective January 2013.
He succeeds Arch Capital Ltd’s president and CEO Constantine (Dinos) Iordanou who ...
DATE: Nov 29, 2012
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CATEGORY:
Reinsurance
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Validus Holdings is poised to close on its acquisition of Flagstone Reinsurance Holdings by the end of this week.
Shareholders of FlagstoneRe yesterday morning voted to approve the company’s merger with Validus Holdings.
More than 99 percent of the...
DATE: Nov 29, 2012
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CATEGORY:
Reinsurance
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Shops will be allowed to stay open for longer on the Sunday before Christmas, the Bermuda Chamber of Commerce announced yesterday. Meanwhile, another week of steep discounts kicked off.
The Chamber said its Retail Division had successfully lobbied Go...
DATE: Nov 29, 2012
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CATEGORY:
Local Business
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Claims related to Hurricane Sandy appear set to be split almost 50-50 between primary insurers and reinsurers, according to a report by DowJones.
The report cites estimates from JP Morgan, which estimates Sandy will cost the industry up to $25 billi...
DATE: Nov 29, 2012
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CATEGORY:
Reinsurance
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