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Financial and business service

Reinsurance

"Allied World makes Bermuda appointments"

Allied World Assurance Company Holdings yesterday announced two senior appointments in its Bermuda operation. Peter Cooper has been promoted to senior vice-president, chief international corporate actuary, subject to Bermuda Department of Immigration...
Mar 14, 2012
Local Business

"LOM analyst sees Butterfield profits rising modestly"

Things are looking up for Butterfield Bank and its shareholders, according to LOM analysts. A report released yesterday by LOM Securities (Bermuda) Ltd rates Butterfield shares as “hold” with a price target of $1.40, 27 percent higher than yesterday...
Mar 13, 2012
International Business

"Convergex closes Bermuda operation while under SEC probe"

Trading software company Convergex has closed its Bermuda operation - which is being investigated by the US Securities and Exchange Commission and Department of Justice. It’s not clear how many employees ConvergEx Global Markets (CGM) had here but i...
Mar 13, 2012
Other

"Storage unit auction brings delight for some"

A public auction drew about 50 bidders to gamble on the unknown contents of storage lockers, with prize porcelain and a trove of musical instruments among the spoils. In a token of the economic times, the owners of Island Self Storage believe more au...
Mar 12, 2012
Reinsurance

"Armour sets up new ILS investment firm"

Armour Group Holdings Ltd has formed a new Bermuda investment management firm focused exclusively on insurance-linked products. ILS Investment Management Ltd said the that initial insurance-linked strategies development will be “aimed at providing in...
Mar 12, 2012
Opinion Writer

"Buffett’s ‘excellent advice’ on viewing risk"

As readers of this column know, I am a big fan of Warren Buffet and, more specifically, his writings in his annual report for Berkshire Hathaway. I’ve read through the latest letter and it is full of excellent advice. In the current issue Warren foc...
Mar 12, 2012
Personal Finance

"Money flows like water"

If the new money created by QE escapes in an unintended way, then new chaos will reign, with a period of out-of-control inflation, argues Clem Chambers, CEO of leading market information site ADVFN.com, and author of ‘101 Ways to Pick Stock Market Wi...
Mar 10, 2012
Opinion Writer

"Will there be a Bermuda bond offering?"

Launching a bond offering. The last time the Bermuda government borrowed money on a long-term repayment plan (this did not include the revolving cash overdrafts), the Bermuda public knew little of the details even after the bond deal was announced. I...
Mar 10, 2012
International Business

"Willis opens new China office"

Willis is about to become the first global insurance broker in the world’s fastest-growing urban centre. The London-based Willis Group said the Chinese government has granted it permission to open a new office in the city of Chongqing. The new addit...
Mar 09, 2012
International Business

"HSBC sells off insurance business in five countries"

In a deal worth $914 million, global banking giant HSBC has sold off its general insurance businesses in five different countries in an effort to get out of operations it no longer considers a core part of the bank. French insurance company, Axa is ...
Mar 09, 2012
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