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"Argus gives $10,000 to Big Brothers Big Sisters"

Argus has donated $10,000 to mentoring programme Big Brothers Big Sisters of Bermuda. The funds will be used to help “the charity to reach more children through its mentoring programme”. Said Alison Hill, chief executive officer of the Argus Group: “...
Jul 26, 2012
Reinsurance

"McMellin promoted to Catlin US CEO"

Bermuda-based Catlin Group Ltd has promoted its deputy chief underwriting officer Andrew McMellin to CEO of Catlin US. He replaces Richard Banas effective September 1, but will remain a member of the Catlin Group Executive Committee. “I am pleased to...
Jul 25, 2012
Local Business

BF&M profits slump to $4.5m on investment income fall

Insurer BF&M Ltd yesterday announced profits fell 21 percent to $4.5 million for the first quarter of the year on reduced investment income. Gross premiums written also fell, by four percent over 2011, while operating expenses rose nine percent to $1...
Jul 25, 2012
Reinsurance

"Ace beats estimates and raises outlook"

Global insurer Ace last night reported quarterly operating profit that comfortably beat analysts’ expectations and raised its outlook for the year. Operating earnings of $743 million broke down to $2.17 per share, above the forecast of $1.92 per shar...
Jul 25, 2012
Local Business

"BTC names Dobson as new CEO"

BTC has named Eric Dobson as its new CEO. Mr Dobson, a seasoned telecommunications professional, started his executive career as the senior vice-president of business and carrier services for Sprint Canada. He later moved on to assume the role of pr...
Jul 24, 2012
Letters to the Editor

"Scrap 60-40 rule altogether "

July 17, 2012 Dear Sir, It is disappointing that despite our crippled economy, some of our elected officials on Parliament Hill still pay lip service to the outdated protectionist policy known as the 60-40 Rule. One would have thought that the govern...
Jul 23, 2012
Local Business

CellOne launches Crown & Anchor app with prizes

One of the Island’s great Cup-Match traditions is going high-tech. CellOne has launched an online version of the popular Crown and Anchor game on Facebook. The new Facebook app is a first of its kind in Bermuda. It enables players to pick their favo...
Jul 23, 2012
Other

"Digicel makes mobile banking move"

The Digicel Group has gained a foothold in mobile banking with an investment in an expanding US-based money transfer service aimed at immigrants and those without bank accounts. As part of the investment announcement, the company, m-Via, has been off...
Jul 20, 2012
Other

"Butterfield chairman named in scathing US report on HSBC"

Butterfield Bank executive chairman Brendan McDonagh is mentioned in a scathing 335-page US Senate report that describes a decade of compliance failures by global bank HSBC. Mr McDonagh served as COO of HSBC North America from 2004 to 2006, becoming ...
Jul 18, 2012
Other

"Belco: ‘Anomalies’ led to Saturday’s load shed"

Belco yesterday claimed it was able to satisfy the Island’s electricity demand this summer, despite recent outages that have left thousands of home without power. The company has “more than adequate capacity to meet expected load on the system this s...
Jul 18, 2012
Reinsurance

"Charman’s severance upped to $36m"

Bermuda-based reinsurer Axis Capital has agreed to pay its former CEO John Charman another $13.8 million — taking his total severance package to just under $36 million. According to an SEC filing made on Monday, Axis has paid Mr Charman a lump sum of...
Jul 18, 2012
Local Business

"Argus appoints retirement specialist"

The Argus Group has announced the appointment of Helena Pimentel into the new position of retirement specialist to assist clients in becoming more prepared, financially and otherwise, for retirement. The creation of this new retirement specialist ro...
Jul 18, 2012
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