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Moody's Investors Service last night said it may downgrade Bermuda-based business insurer XL Capital Ltd. because of estimated $1.6 billion to $1.7 billion in quarterly losses.
Moody's has a Baa1 senior debt rating on XL Capital and an A1 insurance ...
DATE: Oct 24, 2008
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THE United Bermuda Party has called on Government to "stop playing favourites" in the wake of this week's high-profile trucker protest, asking that the Premier and his colleagues "spread the wealth" to contractors of all sizes in fair, open tenders.
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DATE: Oct 24, 2008
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NEW YORK (AP) — Wall Street spent another session buffeted by volatility yesterday, this time closing mixed after investors wrestled with their fears about the economy but also looked for bargains after two days of selling. While the Dow Jones indust...
DATE: Oct 24, 2008
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THE Bermuda branch of the Royal British Legion (RBL) is calling on locals to donate their time in support of the island's war veterans and ex-soldiers.
Next week marks the start of the international charity's annual Poppy Appeal in the run-up to Reme...
DATE: Oct 24, 2008
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This is the full text of Premier Dr. Ewart Brown's speech to delegates at the Progressive Labour Party conference delivered on Thursday night:
As I prepared myself for this Conference and particularly to address you this evening, I vividly recalled t...
DATE: Oct 24, 2008
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Bermuda-based Arch Capital Group has announced that John Hele will be its new chief financial officer.
The company said yesterday former CFO John Vollaro would "transition" to a senior advisor role within the company.
Mr. Hele, 49, will be leaving IN...
DATE: Oct 24, 2008
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WASHINGTON (AP) — Former Federal Reserve chairman Alan Greenspan said yesterday the current financial crisis is a "once-in-a-century credit tsunami" which will have a severe impact on the US economy, driving unemployment higher.
Greenspan, who headed...
DATE: Oct 24, 2008
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With Halloween just one week away, it's time to start thinking of goodies for the trick-or-treaters who will come knocking on your door, or for the gathering you are planning at home. Homemade things are always special, but in today's busy world not ...
DATE: Oct 24, 2008
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Senator Marc Bean has been chosen to fight the Southampton West Central by-election for the Progressive Labour Party.
The poll, set for Thursday, December 4, follows the resignation of United Bermuda Party MP Jon Brunson.
Mr. Bean, who is a Governmen...
DATE: Oct 24, 2008
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Catastrophe reinsurance specialist IPC Holdings Ltd. recorded a net loss of $87.5 million for the third quarter, as storm losses and net investment losses each topped $100 million.
In results for the June-through-September period released last night,...
DATE: Oct 24, 2008
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AUTHOR:
Jonathan Kent
