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Reinsurance

Exor bid for PartnerRe information rejected

Bermuda’s Supreme Court has rejected a bid by an Italian investment giant to get non-public information from buyover target PartnerRe. Exor, run by the Agnelli family, who control car giants Fiat Chrysler, wanted information on shareholders in Partne...
Jun 05, 2015
Other

Bermuda Gas restates focus on core business

Ascendant Group Limited announced yesterday that its Bermuda Gas subsidiary would be adopting a gas-focused business model. In a statement today, Bermuda Gas has provided additional information about the operational changes undertaken by the company....
Jun 05, 2015
Other

‘Curb Belco bill hike for poor families’

Struggling families cannot afford even a modest increase in their Belco rates, according to social activist Sheelagh Cooper. The Coalition for the Protection of Children head gave guarded support to Belco’s announcement that it might raise its rates ...
Jun 04, 2015
Other

Anger over BA flight delays and route change

British Airways has apologised for delays this week and has reassured passengers that it would never operate a flight unless safe to do so. Since Monday, the airline’s flights to and from Bermuda have been taking a more northerly route — adding up to...
Jun 04, 2015
Local Business

Belco seeks to raise electricity prices

Typical households will see their electricity bills rise by 7 per cent or more, if Belco’s application to increase its rates is granted. Under proposals submitted to the Energy Commission yesterday by the utility, residential tariffs, or the base rat...
Jun 04, 2015
Local Business

Higgins: Power supply reliability at stake

Belco urgently needs to be allowed to increase its electricity rates in order for Bermuda to continue to enjoy a “first-world” electricity system. That is the view of Walter Higgins, the utility’s chief executive officer, who said a continuation of “...
Jun 04, 2015
Local Business

Watson upbeat on Digicel’s takeover of BTC

Telecoms watchdog chief Robert Watson says approval of a deal for Digicel to take over phone firm BTC will increase innovation and competition. Mr Watson, chief executive of the Regulatory Authority of Bermuda (RAB), added Digicel had agreed to condi...
Jun 03, 2015
Other

BCB lands excellence award from Deutsche Bank

An excellence award has been presented to Bermuda Commercial Bank (BCB) for the “exceptional quality of payment messages” to Deutsche Bank’s Global Transaction Banking Operations unit for payments in euros during the 2014 fiscal year. Last year, BCB ...
Jun 03, 2015
Reinsurance

Exor reaching out to PartnerRe shareholders

Exor has filed a proxy statement with the US Securities and Exchange Commission (SEC) in an effort to directly reach PartnerRe shareholders ahead of next month’s vote on the proposed merger deal between Axis and PartnerRe. And the investment firm, wh...
Jun 03, 2015
Other

Bacardi marks 50 years in Bermuda

Global drinks giant Bacardi yesterday celebrated its 50th year on the Island with the launch of a special limited edition Bermuda rum. President and CEO of Bacardi International Jacques Tortoroli unveiled Bacardi Reserve — a reincarnation of a compa...
Jun 02, 2015
Other

BCB links with RBC in custody services move

Bermuda Commercial Bank Limited is moving its custody services relationship to Royal Bank of Canada’s investor & treasury services. RBC investor & treasury services is an award winner in the global custody services sector. “We are extremely excited ...
Jun 02, 2015
Other

Study found no conflict in Higgins’ roles

Ascendant Group Ltd’s chairman Peter Durhager yesterday revealed that the firm had commissioned an independent investigation into whether the company’s chief executive officer had a conflict of interests in also being chairman of a US natural gas com...
Jun 02, 2015
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