Sailors Patton And Nicholls Excel In Italy

The World Record Regatta in Italy came to a close on Sunday [Apr.8] on Lake Garda as the 1,100 Optimist sailors from 26 Nations raced their boats together for one last time. There continued to be an amazing “wow” factor for many spectators as the boats left the shore and sailed off to their racing [...]

Requiem Honoured Bermuda Sub Disaster Victim

One of the most poignant classical music pieces of the 20th century was dedicated to — and partially inspired by — a British naval officer lost at sea off Bermuda aboard the Free French submarine  “Surcouf” in 1942. Sub-Lieutenant Roger Burney [1919-1942] was the British Naval Liason Officer [BNLO] aboard the ill-fated submarine and 20 years [...]

Bermuda Venture Fund Sues Hungary

A Bermuda venture capital fund is suing the Hungarian government for political interference in awarding radio licenses, renewing doubts over press freedoms in the East Europeam nation as the government tries to convince the European Union that it respects media independence. The 2009 tender for the frequencies of radio stations Slager and Danubius were “scandalously [...]

French Row Recalls Bermuda Photo Debacle

France has taken a page out of Bermuda’s old tourism marketing book — and not everyone is impressed with the results. A recent tourism promotion designed to lure British vacationers to France this summer hit a major snag when a scene of a family jogging along an idyllic, boulder-fringed beach turned out to be taken [...]

John Deuss Goes On Trial In Holland

One-time Bermuda-based businessman John Deuss has gone on trial in the Netherlands accused of banking without a license, disguising unusual transactions and forming a criminal organisation that made ​​possible large-scale carousel fraud in England. Dutch media sources reported today [Mar. 26] that the 69-year-old banker and oil trader was standing trial in Arnhem along with [...]

EIOPA Boss: Solvency II ‘Essential’

Solvency II is a necessary response to the global financial crisis, said Gabriel Bernardino, chairman of the European Insurance and Occupational Pensions Authority [EIOPA], citing the fact other jurisdictions including Bermuda, Japan and non-European Union member Switzerland are seeking equivalency. Speaking to an audience at Lloyd’s yesterday [Mar. 14], Mr. Bernadino [pictured] said Solvency II — a [...]

Bermuda Traders High Romanian Profile

According to data released by Romania’s National Securities Commission [NSC] today [Mar.12], Bermuda-based traders were the third most active investors last year on the Bucharest Stock Exchange [BSE]. British investors acquired shares worth EUR 123 million and sold stakes worth EUR 126.6 million last year on BSE In percentage, the purchase transactions represented almost 29 [...]

Best Places Reinsurers Under Review

Ratings agency A.M. Best Co. has placed under review with developing implications the financial strength rating of “A-” [Excellent] and issuer credit ratings of “a-” of Bermuda’s IPCRe Limited and Validus Re Europe Limited, the Dublin-headquartered subsidiary of the Hamilton-based Validus Group. The under review status “reflects the recent change in IPCRe’s strategy following a [...]

Webinar: Solvency II’s Impact On Captives

A panel of analysts from A.M. Best Europe will review the potential impacts of Solvency II on the captive sector — including Bermuda’s role as the leading international domicile — during a one-hour public webinar being held on Tuesday, 21 February. Although the captive sector reported widespread growth in 2011, the approach of Solvency II [...]

Bermuda Attends Brussels OCT-EU Forum

Following the Premier’s visit to Brussels in June 2011, the Overseas Countries and Territories Association [OCTA] invited Bermuda to attend as an observer the 10th OCT-EU Forum in Brussels. On that occasion the Premier expressed an interest in reviewing the current arrangements, with a view to assess whether it is now more appropriate with the [...]

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