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"What the BLDC report said"

Previous boards of the Bermuda Land Development Company were “delinquent” in their responsibilities, concludes the report of a review of the company by Ed Saunders and Leroy Bean. The report at the centre of conflict of interest allegations, obtained...
May 17, 2012
Other

"What happened when at BLDC"

This timeline is based primarily on the Auditor General’s special report on the misuse of public funds. 2008 — Bermuda Land Development Company Code of Ethics revised so that it is no longer applicable to directors. Since 2002 the Code had prohibite...
May 17, 2012
Other

"Saunders: Premier should apologise"

Former Bermuda Land Development Company chairman Ed Saunders says Premier Paula Cox should apologise to him and former deputy chairman Leroy Bean for her “presumption of guilt” over the Auditor General’s conflict of interest allegations. Mr Saunders...
May 17, 2012
Other

"BLDC was owed $2.4m when review was ordered"

The Bermuda Land Development Company was owed close to $2.5 million in arrears by a host of tenants and clients including political leaders, election candidates and prominent business figures as of September 2009, according to the company’s former ch...
May 17, 2012
Other

"Ed Saunders: Premier should apologise to us"

Former deputy chairman of the Bermuda Land Development Company Leroy Bean says he is considering taking legal action against the Auditor General unless she issues a public apology for claiming he breached his fiduciary duties to the board. Auditor Ge...
May 17, 2012
Reinsurance

"Maiden earnings rise to $20.4m"

Bermuda-based Maiden Holdings, Ltd released its first quarter earnings last night reporting a net income of $20.4 million compared with $19.3 million in the first quarter of 2011. Net operating earnings for the first quarter of 2012 came in at $19.4...
May 03, 2012
International Business

"On tenth anniversary, MS Frontier has much to celebrate"

Bermuda-based MS Frontier Re is celebrating its tenth anniversary this year and received a multi-million dollar present from its parent company. The property catastrophe reinsurer, received a capital injection of $150 million from Tokyo-based Mitsui ...
May 02, 2012
Reinsurance

"American Safety agrees to acquire Bluestone"

Bermuda-based insurer American Safety Insurance Holdings Ltd has agreed to acquire Cayman-based insurer Bluestone Surety Ltd. The company announced yesterday that its wholly-owned subsidiary, American Safety Holdings Corp, has signed a definitive sto...
May 01, 2012
Reinsurance

"Charman sees ongoing ‘cycle change’ as Axis posts $122m profit"

Axis Capital Holdings Ltd last night reported a $122 million profit for the first quarter of this year as CEO John Charman noted a “cycle change” was under way, bringing firmer pricing for many lines of business. The net income, which broke down to 9...
Apr 27, 2012
Reinsurance

"Aspen swings to profit as CEO sees firming market"

Bermuda re/insurer Aspen Insurance Holdings Ltd swung to a profit of nearly $79 million, despite taking a hit from claims related to the Italian cruise ship disaster. Aspen also wrote more business and its operating earnings of 88 cents per share han...
Apr 26, 2012
Reinsurance

"Montpelier Re crushes analysts’ estimates"

Montpelier Re Holdings Ltd reported an operating income of $1.23 per share for the first quarter 2012, crushing analysts expectations of 65 cents. The company, which provides short-tail reinsurance and other specialty lines, beat the average estimate...
Apr 26, 2012
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