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International Business

"Catlin: Rates should climb in steady way"

Global re/insurance rates should be increased in a “measured” way over the next six months to avoid any kneejerk reaction in the market. That is according to Catlin Group CEO Stephen Catlin who said that rises in “the order of 10 to 25 percent, depen...
Apr 05, 2011
Other

"Schuler succeeds Plested as BAC MD"

Bermuda Air Conditioning (BAC) has announced the appointment of Chris Schuler as managing director. Mr Schuler takes over from John Plested who is retiring after 33 years at the company. Mr Schuler joined BAC in 1987 as a mechanical field superinten...
Apr 01, 2011
Bermuda Stock Exchange

"BNTB drops 3.07%"

Butterfield Bank dropped 3.07 percent (four cents) on The Bermuda Stock Exchange (BSX) yesterday. The bank traded 10,000 shares to close at $1.28. KeyTech Ltd also fell 0.82 percent (five cents) to $6 as 1,200 shares changed hands. The Index, as a wh...
Apr 01, 2011
Other

"Appleby promotes Last to partner"

Bermuda-based law firm Appleby has announced the promotion of one lawyer to the partnership and the appointment of three lawyers to the position of counsel. Among those promoted to counsel with effect from today will be Erica Robinson-McLeod, a memb...
Apr 01, 2011
Reinsurance

"XL rises 4% on takeover speculation"

XL Group could be a potential takeover target for Berkshire Hathaway or another stronger peer company, according to an analyst’s report released yesterday. Egan-Jones Ratings Company, which has an above 94 percent accuracy record for its reports over...
Apr 01, 2011
Reinsurance

"Ariel sees Q1 cat losses up to $50m"

Bermuda-based Ariel Reinsurance Company, the reinsurance subsidiary of Ariel Holdings Ltd, has announced initial loss estimates of $35 million to $50 million for catastrophes in the first half of 2011, including the Tohoku Earthquake in Japan. The ot...
Apr 01, 2011
Bermuda Stock Exchange

"BNTB climbs 3.17%"

Butterfield Bank’s share price rose 3.17 percent (four cents) on The Bermuda Stock Exchange (BSX) yesterday. The bank traded 319 shares to close at $1.30. BF&M Ltd also climbed 1.35 percent (20 cents) to $15 with 35,270 shares changing hands. But the...
Mar 31, 2011
International Business

"Bermuda oil-tanker companies to maintain Japanese supply routes"

LONDON (Bloomberg) - The world’s five biggest oil-tanker companies will still travel to the ports of Tokyo Bay, joining other shipping lines in judging them safe for crew and vessels. Bermuda-based giants Frontline Ltd and Teekay Corp, as well as Mi...
Mar 31, 2011
International Business

"Signet says US jewellery sales up, UK stumbles"

NEW YORK (Reuters) - Bermuda-based Signet Jewelers Ltd reported a higher-than-expected holiday quarter profit and said its Kay Jewelers and more upscale Jared chain have continued their streak of sales gains this quarter. But business at its British ...
Mar 31, 2011
International Business

"Lloyd’s market profits tumble 44% to $3.5b"

LONDON (Bloomberg) Lloyd’s of London, the world’s oldest insurance market, said full-year profit fell 44 percent on claims related to catastrophes such as the earthquake in Chile and the Deepwater Horizon oil spill in the Gulf of Mexico. Pretax profi...
Mar 31, 2011
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