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Reinsurance

Citizens plans to place new $500m cat bond

A state-backed Florida property insurance firm is set to place a new $500 million catastrophe bond in Bermuda. Citizens Property Insurance Corporation’s chief financial officer last week sent a team, headed by chief financial officer Jennifer Montero...
Feb 04, 2015
Other

Tanker diverted due to engine problems

A tanker carrying corn oil was forced to divert to Bermuda this week when the vessel developed engine problems. The MTM Rotterdam was on her way from New Orleans to Tunisia when the crew was forced to make the unexpected stop. The Hong Kong-flagged s...
Feb 04, 2015
Reinsurance

Noonan: few have stomach for hostile bids

The mega-merger between Axis and PartnerRe is set to go ahead without an outside bidder disrupting the deal, an industry chief said yesterday. Validus CEO Ed Noonan — who successfully launched a hostile takeover of IPC Holdings after it had agreed a ...
Feb 04, 2015
Other

Island fans a ray of sunshine for weather girl

An American weather girl is taking Bermuda by storm. Llarisa Abreu has built up a massive fan base since she started broadcasting to the Island from the AccuWeather studios in the United States. The 26-year-old, who is fluent in Spanish and English,...
Feb 04, 2015
Reinsurance

RenRe net income plunges 36%

RenaissanceRe Holdings Ltd’s net income dipped 36 per cent in the fourth quarter as the company grappled with pressure on pricing from abundant capital in the industry — but operating earnings surpassed analysts’ expectations. The company posted net ...
Feb 04, 2015
Gymnastics

Trio impress in Massachusetts

Three members of the Bermuda Gymnastics men’s team travelled to Springfield, Massachusetts, last weekend to compete in the Tim Daggett National Invitational. Jacob Madeiros and Ben Mello, both eight, competed against 42 gymnasts in the Level 4 seven...
Feb 04, 2015
Court

Suspended sentence for drug importer

A 24-year-old man was given a suspended sentence in Magistrates’ Court this morning after he admitted bringing cannabis resin into Bermuda. Andre Martin-Lewis, of Spicery Road, Warwick, had pleaded guilty at a previous court appearance to importing 7...
Feb 04, 2015
Football

BBFS and Dellwood resume after-school programme

The Bermuda Brazilian Football School, in partnership with the Bank of Bermuda Foundation, will facilitate a five-month after-school programme at Dellwood Middle School. The programme will run from next Tuesday to May 28 and will provide football and...
Feb 04, 2015
Bermuda Stock Exchange

Argus shares fall 2.7%

Shares of Argus Group Holdings Ltd fell 2.7 per cent in an unusually heavy trading for the insurer on the Bermuda Stock Exchange today. Argus dipped ten cents to close on $3.55, as 117,900 shares were exchanged. Butterfield Bank gained a cent, or 0.5...
Feb 04, 2015
Other

Man arrested after police crash

A male motorcyclist who collided with two police motorcyclists during a pursuit has been arrested after injuring both officers. A police spokesman said the man failed to stop after being spotted while committing a traffic offence near the junction of...
Feb 04, 2015
Court

Guilty driver given absolute discharge

A 26-year-old chef was given an absolute discharge in Magistrates’ Court this morning after he pleaded guilty to obstructing a Police officer. The court heard that on December 22, Jonathan Rivard, of North Shore Road, Devonshire, was observed on his ...
Feb 04, 2015
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