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Personal Finance

"Morningstar expert sees stock returns of 10% over next two years"

The markets will offer an average return of 10 percent over the next couple of years, but volatility looks set to continue at relatively high levels in the future. That is the view of Paul Larson, chief equities strategist and editor at Morningstar S...
Jun 23, 2011
Bermuda Stock Exchange

"BNTB slides 3.57%"

Butterfield Bank dropped 3.57 percent (five cents) on The Bermuda Stock Exchange (BSX) yesterday. The bank traded 30,900 shares to close at $1.35. The Ascendant Group Ltd also saw 25 shares change hands, but its share price held firm at $14.89. Overa...
Jun 22, 2011
Reinsurance

"Alterra sees US cat losses of up to $28m"

Alterra Capital Holdings Ltd., the Bermuda-based reinsurer, expects to lose $18 million to $28 million before taxes because of costs tied to tornadoes and other severe U.S. storms in April and May. The prediction, which also cited recent flooding alo...
Jun 22, 2011
Reinsurance

"AM Best upgrades Ace ratings"

AM Best Co has upgraded the issuer credit ratings (ICR) and senior debt ratings to “a” from “a-” for Ace Ltd and Ace INA Holdings Inc. Concurrently, Best has upgraded the ICR to “aa” from “aa-” and affirmed the financial strength rating of A+ (superi...
Jun 22, 2011
Reinsurance

"XL Group boss McGavick moves family back to US"

XL Group chief executive officer Mike McGavick is to relocate his family home from Bermuda to the US for family reasons. And Greg Hendrick, another executive who has been based on the Island for several years, will also be moving to the US for simila...
Jun 22, 2011
Other

"Strike disrupts mail from Canada"

Mail delivery between Canada and Bermuda has been suspended due to a strike by Canadian postmen. Economy, Trade and Industry Minister Kim Wilson said mail sent to the Bermuda Post Office for delivery to Canada would be secured until services resumed....
Jun 22, 2011
Other

"Bermuda tops shipping ‘white list’ in Europe"

Bermuda’s shipping register has been placed at the top of the European “white list’ relating to safety. The Paris Memorandum of Understanding rates registries each year, based on the number of inspections and detentions in a rolling three-year period...
Jun 22, 2011
Reinsurance

"Eqecat defends NZ quake loss estimate"

NEW YORK (Reuters) - Catastrophe modeller Eqecat released a defence of its loss estimate of $3 billion to $5 billion for last Monday’s Christchurch earthquake, saying its models suggested that would be the incremental damage to the city over and abov...
Jun 21, 2011
Bermuda Stock Exchange

"Ascendant rises 4.5%"

Ascendant Group Ltd shares rose 4.5 percent last week to lead The Royal Gazette / Bermuda Stock Exchange (BSX) Index higher. The energy group, which owns electricity company Belco and Bermuda Gas, gained 64 cents to close the five days of trading on ...
Jun 21, 2011
Reinsurance

"Ace pays $39m to buy out Malaysian insurer"

Global property and casualty insurer Ace Ltd said yesterday it acquired the 49 percent of its Malaysian joint venture that it did not already own, from Advance Synergy Capital Berhad for $39 million in cash. The purchase of Ace Synergy Insurance Ber...
Jun 21, 2011
Reinsurance

"Argo Group places $100m cat bond"

Argo Group International Holdings Ltd has placed a $100 million catastrophe bond, the company announced yesterday. Loma Reinsurance Capital Ltd Series 2011-1, which is listed on the Cayman Islands Stock Exchange (CSX), represents Argo’s first cat bon...
Jun 21, 2011
Reinsurance

"Maiden prices $100m of 8.25% notes "

Maiden Holdings Ltd has announced that its wholly-owned US holding company Maiden Holdings North America Ltd has priced the offering of $100 million aggregate principal amount of 8.25 percent senior notes due June 15, 2041. The notes, which are fully...
Jun 21, 2011
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