RSSCategory: Business

Argo Group Appoints Lehane & Ramji To Board

Argo Group Appoints Lehane & Ramji To Board

Bermuda-based Argo Group International Holdings announced the appointment of Dee Lehane and Al-Noor Ramji to its board of directors. “It is an honor to have these Dee and Al-Noor join our board,” said Argo Group Chairman Gary Woods. “They are both accomplished individuals with a proven ability to lead, and their expertise will help us achieve... Read more of this article

Enstar Group Reports 2016 Year End Results

Enstar Group Reports 2016 Year End Results

Bermuda-based Enstar Group Limited filed its annual report on Form 10-K with the SEC, reporting its earnings and financial position for the year ended December 31, 2016. Enstar reported consolidated net earnings of $264.8 million [or $13.62 per fully diluted share] for the year ended December 31, 2016 compared to $220.3 million [or $11.35 per fully... Read more of this article

Horseshoe Group & Rewire Launch Eclipse Re

Horseshoe Group & Rewire Launch Eclipse Re

Horseshoe Group and Rewire Securities LLC have announced the launch of Eclipse Re Ltd, a private syndicated collateralized reinsurance note platform that will “provide turnkey services to investors and sponsors worldwide looking to participate in collateralized reinsurance and transform the risk into a listed note form.” A spokesperson said,... Read more of this article

Sun Life Investments Bermuda Fined $1.5 Million

Sun Life Investments Bermuda Fined $1.5 Million

The Bermuda Monetary Authority has imposed civil penalties totalling $1,500,000 on Sun Life Financial Investments [Bermuda] Ltd pursuant to the provisions of section 20 of the Proceeds of Crime [Anti-Money Laundering & Terrorist Financing Supervision & Enforcement] Act 2008, and restricted the Company’s Investment Business licence pursuant... Read more of this article

Column:  A Workforce Development Plan

Column: A Workforce Development Plan

[Opinion column written by Jason Hayward] In February 2017, I was fortunate to be invited along with four other Bermudian professionals to take part in a 10-day International Visitor Leadership Program. This program was facilitated by the United States’ Department of State in conjunction with the U.S. Consulate in Bermuda. The focus of the International... Read more of this article

AXIS Capital Declares $0.38 Quarterly Dividend

AXIS Capital Declares $0.38 Quarterly Dividend

Bermuda-based AXIS Capital Holdings Limited declared a quarterly dividend of $0.38 per common share. The common dividend will be payable on April 17, 2017 to the shareholders of record at the close of business on March 31, 2017. In addition, the Board declared a dividend of $0.429688 per Series C 6.875% Preferred Share, a dividend of $0.34375 per Series... Read more of this article

Third Point Re 2016 Q4 Earnings Results

Third Point Re 2016 Q4 Earnings Results

Bermuda-based Third Point Reinsurance Ltd. announced results for its fourth quarter ended December 31, 2016. Third Point Re reported a net loss of $46.7 million, or $[0.45] per diluted common share, for the fourth quarter of 2016, compared to net income of $42.2 million, or $0.39 per diluted common share, for the fourth quarter of 2015. For the year... Read more of this article

EY Release Bermuda Insurance CRO Survey

EY Release Bermuda Insurance CRO Survey

EY recently issued its first ever survey of Insurance CROs in Bermuda, which revealed that the CROs’ roles are established within their individual organizations – 100% of respondents confirmed their unfettered access to the Board, Risk and Audit Committees. “Bermuda CROs named several issues facing them in the current business climate, including... Read more of this article

Minister: Trump, UK, Taxes & Impact On Bermuda

Minister: Trump, UK, Taxes & Impact On Bermuda

While delivering the 2017 Budget, Finance Minister Bob Richards addressed some of the developments taking place around the world and their possible impact on Bermuda, saying it is “part of the current international reality impacting and threatening the standard of living of all Bermudians” as the “risks to our international business... Read more of this article

Assured Guaranty Declares Quarterly Dividend

Assured Guaranty Declares Quarterly Dividend

Assured Guaranty Ltd. declared a quarterly dividend of $0.1425 per common share, an increase of nearly 10% from the quarterly dividend of $0.13 per common share that was declared on November 2, 2016. Assured Guaranty has raised its quarterly dividend for six consecutive years, bringing the total increase to 217% since its November 2011 dividend payment. The... Read more of this article

Bermuda Stock Exchange Report: Feb 24 2017

Bermuda Stock Exchange Report: Feb 24 2017

February 24 saw 1,325 shares trade on the Bermuda Stock Exchange, valued at $38,755.40 BD. 1,125 shares were traded by Bank of N.T. Butterfield Ltd, closing even at $32.00 per share, while another 200 shares were traded by Somers Limited, closing even at $13.75 per share. The BSX finished at 1,958.57, even on the day. There were 0 advances, 0 declines,... Read more of this article

Grand Atlantic RFP Selection Process Complete

Grand Atlantic RFP Selection Process Complete

The Ministry of Public Works, on behalf of the Bermuda Housing Corporation [BHC], announced that the “selection process as it relates to the Grand Atlantic Condominium - Request for Proposal [RFP] has been completed.” Grand Atlantic was planned as a housing development, however only one unit sold in the first six months, and in 2014 the... Read more of this article

Chamber: Initial Views On Budget Are “Mixed”

Chamber: Initial Views On Budget Are “Mixed”

“Our initial views are mixed,” Chamber of Commerce President John Wight said following today’s Budget, as “increased company payroll taxes and rolled-back tax concessions to restaurants and retailers mean that these businesses will have no choice but to pass on these costs to consumers, or reduce their workforce.” “In... Read more of this article