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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
Reinsurance

On-Island vote on merger for shareholders

Axis and PartnerRe shareholders will next month get the chance to vote on the proposed merger of the two firms. Shareholders of both firms will meet at the same time on Friday, July 24 in Bermuda to back the shares-only deal — or voice support for a ...
Jun 02, 2015
Local Business

Shareholders plan dissent at Ascendant AGM

A group of Ascendant Group Ltd shareholders intends to raise concerns about the direction in which the company is headed at Friday’s annual general meeting. The five are all former managers at Belco, a subsidiary of Ascendant, and they believe the el...
Jun 02, 2015
Other

Prepare for stormy weather, says Belco

To mark the start of hurricane season, the Bermuda Electric Light Company yesterday reminded the public to start preparing well in advance. “Please prepare now for stormy weather, ensuring that you have all necessary supplies and that you have made p...
Jun 02, 2015
Other

Digicel completes BTC buyout

International telecoms firm Digicel has completed the takeover of the Bermuda Telephone Company (BTC), it was confirmed yesterday. Digicel Bermuda CEO Robin Seale said: “This is an exciting time for Digicel Bermuda and BTC as together we are better p...
Jun 02, 2015
Reinsurance

Six students join Ace Select intern programme

Insurance and reinsurance giant Ace has launched its 12-week summer intern programme. A total of six students are to join the firm for the Ace Select scheme, now in its third year. Ace Bermuda chief administration officer Samantha Froud said: “We are...
Jun 02, 2015
Health

Argus moves to ease strain of overseas care

The Argus Group has announced that, effective June 1, it will remove annual and lifetime maximum restrictions on its coverage of overseas major medical treatments and also eliminate exemptions regarding pre-existing conditions from overseas medical c...
Jun 02, 2015
Reinsurance

Enstar sells 9.9% stake to pension firm

NEW YORK (Bloomberg) — Canada Pension Plan Investment Board, the nation’s largest pension fund manager, agreed to buy a 9.9 percent stake in Bermuda-based Enstar Group Ltd, extending its bet on reinsurance. The pension plan is buying about 1.9 millio...
Jun 01, 2015
Other

Kids on the Reef returns for a third year

A unique programme that gives public schoolchildren an opportunity to experience the wonders of the ocean has returned for a third year. “Kids on the Reef is all about taking kids outside their comfort zones, giving them the tools they need to be co...
Jun 01, 2015
Other

Butterfield explores overseas indices options

The Bank of Butterfield is to look at listing its shares in either the US or the UK, as well as Bermuda. Butterfield chairman and CEO Brendan McDonagh said that after the buy-back of shares from Canadian bank CIBC earlier this year the bank was looki...
Jun 01, 2015
Reinsurance

Validus wins again in landmark case

Validus Reinsurance Ltd has won a second court battle with US tax authorities that could have wider significance for fellow Bermuda reinsurers. The US Court of Appeals, District of Columbia Circuit, handed down a summary judgment dismissing the appea...
May 28, 2015
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