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Personal Finance

Teaching youngsters about holiday giving

Dear Dave, What are some good ways to teach a 13-year-old kid about giving versus getting during the holiday season? Phillip Dear Phillip, One of the best things you can do is simply talk about it — a lot. Kids are bombarded with messages about how...
Nov 16, 2013
Reinsurance

Citadel reports stake in Third Point Re after IPO

NEW YORK (Bloomberg) — Ken Griffin’s Citadel LLC and Cambiar Investors LLC are among asset managers that reported holdings in Bermuda-based reinsurer Third Point Reinsurance Ltd after the company’s initial public offering. Citadel owned 2.12 million ...
Nov 15, 2013
Reinsurance

ILS growth set to continue, conference hears

More than $30 billion has gone into specialised insurance linked securities over the last three years alone — and that figure will continue to grow, a Bermuda business chief told a conference yesterday. Arthur Wightman, a partner and insurance leader...
Nov 15, 2013
Letters to the Editor

Bermuda can benefit from WIEF exposure

November 12, 2013 Dear Sir, I recently attended the WIEF forum in London attended by our premier, Craig Canonnier, among at least 33 world leaders and many influential movers’ and shakers from the global financial and legal sectors; activist; planner...
Nov 14, 2013
Reinsurance

‘Bermuda evolving with the risk market’

Bermuda is at the centre of an evolving market in risk, a top insurance consultant said today. Arthur Wightman, managing director and insurance leader at PwC, said: “What I am saying is that over the last 12 months you have seen this domicile engage ...
Nov 14, 2013
Reinsurance

Convergence 2013 attracts the big players in ILS

Convergence 2013 is an event for investors, reinsurance and insurance companies and service partners to meet, network and learn about ILS such as catastrophe bonds. The two-day event, organised by ILS Bermuda, is being held in the newly renovated Pie...
Nov 14, 2013
Reinsurance

Validus CEO: Private reinsurers could take over US flood programme

Reinsurers could take over the US flood insurance programme from the US government, according to Validus Holdings CEO Ed Noonan. Speaking on a panel at the PwC/S&P Bermuda (Re) insurance Conference yesterday, Mr Noonan said flood coverage was one are...
Nov 14, 2013
Reinsurance

Driscoll warns Washington of potential impact of reinsurance tax

Proposals by some US lawmakers to raise more taxes from non-US reinsurers — including those based in Bermuda — would damage the industry’s ability to bear more flooding and terrorism risks, a hearing in Washington heard yesterday. The subject was tou...
Nov 14, 2013
Reinsurance

Third Point Re enjoys profitable start to life as a public company

Third Point Reinsurance Ltd posted third-quarter net income of $46.6 million yesterday, as it declared its first quarterly financial results as a public company. The earnings, which broke down to 46 cents per share, were up 17.7 percent compared to t...
Nov 13, 2013
Reinsurance

Smaller reinsurers may have to merge to survive

Smaller reinsurance firms may have to amalgamate to survive tough economic times, a major conference heard yesterday. And new markets — like the risk of conventional terrorism, particularly in the US — and China could create new demand for insurance ...
Nov 13, 2013
Reinsurance

KPMG expert: Bermuda can benefit from global spread of ILS

A booming market in insurance linked securities in South Korea could bring extra business to Bermuda, an expert said yesterday. Jason Carne, a managing director at global accountancy firm KPMG, said: “Breaking into new markets such as Korea, which ca...
Nov 13, 2013
Opinion Writer

Bitcoin: an alternative, digital cryptocurrency

Tired of banking transactions? There’s a new money concept out there. Bermuda is a complex financial environment. We tend to forget this fact, until we have to trudge down to a bank teller for travelling money, or negotiate a foreign currency tran...
Nov 09, 2013
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