business and finance

HID: Walk-In Customers For Certain Services

By bernews.com
Published On :: Thu, 07 May 2020 10:49:59 +0000

The Health Insurance Department [HID] is “accepting walk-in customers for cash premium payments as well as new enrollment applications only,” and all walk-in customers must wear masks. A government spokesperson said, “The HID office is staffed with a reduced complement of employees to facilitate walk-in customers. “HID is located at 48 Church Street Sophia House […]

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‘One-Time Withdrawal Of Up To $12,000'

By bernews.com
Published On :: Thu, 07 May 2020 13:00:57 +0000

“We will expand the scope of existing provisions for financial hardship to include a one-time withdrawal of up to $12,000, from person’s individual pension accounts,” Premier David Burt said. Speaking at last night’s [May 6] press briefing, Premier Burt said, “On Friday, the House of Assembly will meet to pass legislation that will provide further […]

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Swizzle South Shore To Cease Operations

By bernews.com
Published On :: Thu, 07 May 2020 13:13:48 +0000

The Swizzle South Shore in Warwick will “permanently cease operations,” the owner confirmed today, explaining that “the crippling effects of the Covid-19 virus and the subsequent contraction of the local economy for many months to come, it was clear that to continue on would only bring mounting debt.” Jay Correia said, “It is with great […]

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Cosmic Launches Online Shopping Directory

By bernews.com
Published On :: Thu, 07 May 2020 14:53:31 +0000

In an effort to help the community navigate changing shopping landscape during the Covid-19 pandemic, Cosmic Ltd recently launched ShopSafe.bm, a free online resource that “allows businesses to input their new store hours while indicating how customers can purchase goods or services.” A spokesperson said, “As shoppers look for the safest methods of patronising their […]

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Colonial To Cover Covid-19 Antibody Testing

By bernews.com
Published On :: Thu, 07 May 2020 14:57:16 +0000

“Clients of Colonial Medical Insurance Company will be covered for Covid-19 antibody testing following an agreement with Helix Genetic and Scientific Solutions Ltd. of Hamilton,” the company announced. A Colonial spokesperson said, “The agreement, which will be operated as a pilot programme through June 30, will provide insurance cover for physician-ordered COVID-19 antibody testing for […]

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Auto Solutions Donates 5,000 Face Masks

By bernews.com
Published On :: Thu, 07 May 2020 17:33:43 +0000

Minister Wayne Caines thanked Auto Solutions after the company donated 5,000 face masks for distribution to the public. In an online post, the Bermuda Government said, “National Security Minister Wayne Caines extended his thanks to Auto Solutions’ Managing Director Glen Smith after the company donated 5,000 face masks for distribution to the public. Minister Caines: […]

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Video: ‘Taking Off’ On Impact Of Covid-19

By bernews.com
Published On :: Thu, 07 May 2020 18:21:40 +0000

After taking a hiatus due to the pandemic, Skyport has released the latest episode of ‘Taking Off’, a video series with host Mikaela Pearman that highlights the airport redevelopment project, with this episode highlighting the impact of Covid-19 in the construction of the new passenger terminal building. Speaking in the episode, Mikaela Pearman said, “As […]

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Norwegian Cruise Line Secures Over $2 Billion

By bernews.com
Published On :: Thu, 07 May 2020 21:23:44 +0000

Norwegian Cruise Line — which is one of the major cruise lines that serves the island — announced that it secured over $2 billion of additional liquidity, which “will strengthen the company’s financial position amid the Covid-19 pandemic.” The NCLH website said, “Norwegian Cruise Line Holdings Ltd. today announced it successfully secured over $2 billion […]

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Bermuda Stock Exchange Report: May 7 2020

By bernews.com
Published On :: Fri, 08 May 2020 09:15:12 +0000

May 7 saw 1,700 shares trade on the Bermuda Stock Exchange, valued at $7,790.00 BD. 200 shares were traded by Polaris Holding Co. Ltd, closing at an even $8.95 per share, while the other 1,500 shares were traded by One Communications Ltd, closing even at $4.00 per share. The BSX finished at 1,623.80, even on […]

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Argo Group Issues $0.31 Cash Dividend

By bernews.com
Published On :: Fri, 08 May 2020 09:26:53 +0000

Argo Group International Holdings, Ltd. announced that the Board of Directors declared a quarterly cash dividend of $0.31 per share on the company’s common stock. The cash dividend will be paid on June 12, 2020 to shareholders of record on May 29, 2020. Related Stories Argo Group Reports First Quarter Results AM Best Downgrades Credit […]

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RUBiS Service Stations Phase 1 Operating Hours

By bernews.com
Published On :: Fri, 08 May 2020 11:23:22 +0000

RUBiS Energy Bermuda provided information about their operating hours during the Island’s Phase 1 reopening, with select sites offering 24-hour refueling for essential service workers. RUBiS also reminds the public that surname shopping does apply to gas stations. As the island and world deals with the Covid-19 pandemic, we are doing our best to provide […]

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ZipX Donates 5,000 Face Masks To Government

By bernews.com
Published On :: Fri, 08 May 2020 11:45:52 +0000

ZipX Bermuda has donated 5,000 face masks to the Bermuda Government for the island’s frontline workers during the Covid-19 pandemic. A spokesperson said, “ZipX Bermuda has donated 5,000 face masks to the Bermuda Government for the island’s frontline workers. Additionally, they are supplying ZipX customers with complimentary individually-wrapped face masks with every package they deliver.” […]

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Huckleberry Restaurant Launches Online Store

By bernews.com
Published On :: Fri, 08 May 2020 15:25:39 +0000

Huckleberry Restaurant & Rosedon Hotel recently re-launched its curbside pick-up service with a new online storefront at HuckleberryBDA.com. A spokesperson said, “Huckleberry Restaurant & Rosedon Hotel have officially re-launched curbside pick-up service with a new web-enabled storefront at HuckleberryBDA.com. “The new website showcases six weeks of hard work by our team, who stayed on the […]

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Bermuda Stock Exchange Report: May 8 2020

By bernews.com
Published On :: Sat, 09 May 2020 09:15:14 +0000

May 8 saw 126 shares trade on the Bermuda Stock Exchange, valued at $3,886.50 BD. 126 shares were traded by Ascendant Group Limited, closing down 8.7% at $31.00 per share. The BSX finished at 1,595.35, down 1.75% on the day. There were 0 advances, 1 decline, and 59 remained unchanged. The full report for the […]

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Essent Reports Q1 Results & Declares Dividend

By bernews.com
Published On :: Sat, 09 May 2020 10:00:48 +0000

Essent Group Ltd. reported net income for the quarter ended March 31, 2020 of $149.5 million or $1.52 per diluted share, compared to $127.7 million or $1.30 per diluted share for the quarter ended March 31, 2019. Essent also announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common […]

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HSBC’s Branch Banking Hours To Change

By bernews.com
Published On :: Sat, 09 May 2020 10:33:12 +0000

As of Monday [May 11], HSBC’s Harbourview, St. Georges and Somerset branches will open on weekdays from 9.00am through 1.00pm “to provide limited banking services to the public.” A spokesperson said, “HSBC Bermuda announced today that, effective Monday 11th May, the HSBC Harbourview, St. Georges and Somerset branches will open every weekday from 9.00am through […]

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PartnerRe Reports First Quarter 2020 Results

By bernews.com
Published On :: Sat, 09 May 2020 10:47:22 +0000

Bermuda-based PartnerRe Ltd. reported a net loss attributable to common shareholder of $433 million for the first quarter of 2020. The company said, “PartnerRe Ltd. reported a net loss attributable to common shareholder of $433 million for the first quarter of 2020, which included net realized and unrealized investment losses of $27 million on fixed […]

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Shipping Schedule: Week Starting May 9

By bernews.com
Published On :: Sat, 09 May 2020 11:00:50 +0000

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday May 9th. On Sunday the Oleander container ship is expected, on Wednesday the Somers Isles container ship will arrive, and on Thursday the Bermuda Islander container ship is scheduled to arrive. The weekly shipping schedule, which […]

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Monument Re Completes Acquisition Of Nordben

By bernews.com
Published On :: Mon, 01 Jul 2019 09:46:30 +0000

Monument Re has completed the acquisition of Nordben Life and Pension Insurance Co. Limited [Nordben] from BenCo Insurance Holding B.V., following receipt of regulatory approval from the Guernsey Financial Services Commission [GFSC]. Manfred Maske, CEO of Monument Re Group, said: “The completion of this transaction positions the Monument Group well in executing its strategy in […]

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Butterfield Complete Acquisition Of ABN AMRO

By bernews.com
Published On :: Mon, 15 Jul 2019 13:14:15 +0000

The Bank of Butterfield has completed the acquisition of ABN AMRO [Channel Islands] Limited [ABN AMRO CI], the Channel Islands-based banking subsidiary of ABN AMRO Bank N.V., following receipt of all regulatory approvals. Effective today, ABN AMRO CI has been renamed Butterfield Bank [Channel Islands] Limited [BBCI]. Over the next 12 months, Butterfield anticipates that BBCI […]

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Minimax Takes Over Island Shippers Client Base

By bernews.com
Published On :: Mon, 15 Jul 2019 19:00:05 +0000

Minimax Forwarders Limited has taken over the small package delivery and shipping client base of Island Shippers Ltd. A spokesperson said, “Effective immediately, Minimax Forwarders Limited has taken over the small package delivery and shipping client base of Island Shippers Ltd. There will be no interruption in service to Island Shipper’s clients, and MiniMax will […]

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Arch Capital To Acquire Barbican Group Holdings

By bernews.com
Published On :: Fri, 02 Aug 2019 10:00:09 +0000

Arch Capital Group Ltd. has entered into an agreement to purchase Barbican Group Holdings Limited from funds managed by Carlson Capital, a U.S.-based alternative asset management firm, subject to regulatory approval. The acquisition includes Barbican Managing Agency Limited, Lloyd’s Syndicate 1955, Lloyd’s Syndicate 1856 [Arcus], Lloyd’s Special Purpose Arrangement [SPA] 6132, Castel Underwriting Agencies Limited […]

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Assured Guaranty To Acquire BlueMountain

By bernews.com
Published On :: Sat, 10 Aug 2019 12:00:12 +0000

Assured Guaranty – a publicly traded Bermuda-based holding company — has entered into an agreement to purchase all of the outstanding equity interests in BlueMountain Capital Management, LLC  and its associated entities for a purchase price of approximately $160 million, subject to certain adjustments. BlueMountain is an alternative asset management firm with $19.3 billion in assets […]

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Arch To Acquire Ventus Risk Management

By bernews.com
Published On :: Fri, 16 Aug 2019 09:26:39 +0000

Arch Insurance North America [Arch] announced it has entered into a definitive agreement to acquire Ventus Risk Management [Ventus], a technology and analytics-driven managing general underwriter [MGU] that specializes in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Ventus was founded in 2016, with the aim of using its proprietary technology to […]

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Monument Re Completes Acquisition Of Inora Life

By bernews.com
Published On :: Tue, 24 Sep 2019 09:38:30 +0000

Monument Re announced that it has, through its European subsidiary Laguna Life d.a.c, completed the acquisition of Inora Life DAC from Societe Generale following receipt of regulatory approval from the Central Bank of Ireland. Monument Re Limited is a Class E reinsurer and Holding Company subject to Group Supervision by the Bermuda Monetary Authority. Monument […]

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Artex To Acquire Horseshoe Insurance

By bernews.com
Published On :: Fri, 04 Oct 2019 12:03:48 +0000

Artex Risk Solutions announced that it has reached agreement to acquire Horseshoe Insurance Services Holdings Ltd., significantly strengthening its insurance-linked securities [ILS] operations. The transaction is subject to regulatory approval and expected to complete before the end of the year. Horseshoe specializes in providing insurance management, fund administration, advisory and corporate services to insurance-linked securities […]

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Artex Completes Purchase: Horseshoe Insurance

By bernews.com
Published On :: Tue, 19 Nov 2019 10:55:24 +0000

Artex Risk Solutions has completed the purchase of Horseshoe Insurance Services Holdings Ltd, saying “this acquisition significantly strengthens its insurance-linked securities [ILS] operations and furthers the company’s goal to become the best service provider to the world’s risk capital.” “Horseshoe will become the global brand of ILS services for Artex, which will operate as one […]

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Carlyle Group, T&D Acquire 76% Of Fortitude

By bernews.com
Published On :: Fri, 29 Nov 2019 14:32:58 +0000

American International Group, Inc., The Carlyle Group and T&D Holdings announced that a newly created Carlyle-managed fund, together with T&D, have partnered to acquire from AIG a 76.6 percent ownership interest in Fortitude Group Holdings, whose group companies operate as Fortitude Re, for approximately $1.8 billion. “After closing, ownership interests in Fortitude Re will include […]

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Monument Re Acquires Cattolica Life

By bernews.com
Published On :: Thu, 12 Dec 2019 10:20:20 +0000

Monument Re announced that, subject to regulatory approval, it has acquired Cattolica Life DAC from Cattolica Assicurazioni. Cattolica Life is a life insurer domiciled in Ireland which ceased new activity since 2017. The transaction will have no impact on Cattolica Life DAC clients and policyholders. Change of control of the company will follow satisfaction of […]

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Randall & Quilter Acquires Barbados Insurer

By bernews.com
Published On :: Thu, 02 Jan 2020 12:38:10 +0000

Randall & Quilter Investment Holdings Ltd. [R&Q] announced that its wholly-owned subsidiary R&Q Re [Bermuda] Limited has completed the acquisition of the Barbados insurer, Distinguished Re Ltd, formerly known as the Saranac Insurance Company, Ltd., a wholly owned subsidiary of Distinguished LLC. A spokesperson said, “Distinguished Re participated as a reinsurer of the capacity providers on […]

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R&Q Acquires Vigneron Insurance Company

By bernews.com
Published On :: Tue, 28 Jan 2020 13:21:02 +0000

Randall & Quilter Investment Holdings Ltd. [R&Q] has acquired the Montana captive insurer, Vigneron Insurance Company Inc. [VICI] from a wholly owned private investment holding company. “VICI underwrote deductible reimbursement policies to cover the obligations under insurance policies taken out by affiliated entities,” the company said. R&Q intends to merge VICI into R&Q’s Vermont captive consolidator […]

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IGI Receives Approval For Tiberius Deal

By bernews.com
Published On :: Fri, 31 Jan 2020 11:40:14 +0000

International General Insurance Holdings Ltd. [IGI] announced that it has received regulatory approval from the Bermuda Monetary Authority in connection with its previously announced business combination with Tiberius Acquisition Corp. [Tiberius],  a publicly traded special purpose acquisition company. A spokesperson said, “This approval, received on January 28, 2020, is one of necessary steps towards successfully completing […]

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Ocorian And Estera Announce Merger

By bernews.com
Published On :: Mon, 10 Feb 2020 13:43:52 +0000

With the aim to “create a global leader in corporate and fiduciary services, fund administration and capital markets”, Ocorian and Estera announced that they will merge, with the enlarged business operating under the Ocorian name. A spokesperson said, “We are delighted to announce the combination of the Ocorian and Estera businesses to create a global […]

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EXOR In ‘Discussions’ Over Possible Acquisition

By bernews.com
Published On :: Tue, 11 Feb 2020 14:41:29 +0000

EXOR has confirmed that it has “entered into exclusive discussions” regarding a possible acquisition of PartnerRe. A statement on their website said, “EXOR confirms that it has entered into exclusive discussions with Covéa regarding a possible all-cash acquisition of PartnerRe. “These discussions are ongoing and there is no certainty that they will result in a […]

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Arch Intends To Obtain Majority Stake In PMAP

By bernews.com
Published On :: Sun, 16 Feb 2020 11:00:46 +0000

Arch Reinsurance has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia Pacific [PMAP]. The company said, “Arch Reinsurance [Arch Re], a wholly owned subsidiary of Arch Capital Group Ltd., has announced that it has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia […]

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Covéa Set To Buy PartnerRe In $9 Billion Deal

By bernews.com
Published On :: Thu, 05 Mar 2020 11:15:44 +0000

EXOR has entered into an MoU with French insurer Covéa in which they will acquire Bermuda-based reinsurer PartnerRe for a “total cash consideration of $9.0 billion plus a cash dividend of $50 million. The company said, “EXOR, one of Europe’s largest, diversified family-controlled holding companies, announces that it has entered into a Memorandum of Understanding […]

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Multi-Strat Enters Agreement With Canopius

By bernews.com
Published On :: Tue, 17 Mar 2020 09:44:10 +0000

Multi-Strat Holdings said they are pleased to announce a majority acquisition of the company by Canopius Group Limited [Canopius]. “Canopius is a global specialty [re]insurer headquartered in London. One of the top five businesses at Lloyd’s, Canopius writes in excess of $2bn premium annually. The Group is domiciled in Jersey and operates in the UK, […]

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Monument Re Acquires GreyCastle Holdings

By bernews.com
Published On :: Tue, 31 Mar 2020 09:34:21 +0000

Monument Re announced that it has signed an agreement to acquire GreyCastle Holdings Ltd and its subsidiaries, which include GreyCastle Life Reinsurance [SAC] Ltd and GreyCastle Services, from the shareholders of GreyCastle Holdings Ltd. A spokesperson said, “Monument Re announced today that, subject to regulatory approval, it has signed an agreement to acquire GreyCastle Holdings […]

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Peak Re Complete Lutece Holdings Acquisition

By bernews.com
Published On :: Tue, 05 May 2020 11:41:02 +0000

Peak Reinsurance Company Limited today [May 5] announced that it has completed the 100% acquisition of the capital of Lutece Holdings Ltd. A spokesperson said, “Peak Reinsurance Company Limited, a Hong Kong-based global reinsurer, today announced that it has completed the 100% acquisition of the capital of Lutece Holdings Ltd. [renamed as Peak Capital Holdings […]

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Different collaborative procurement strategies

By www.trb.org
Published On :: Thu, 16 Apr 2020 08:03:29 GMT

Collaborative Infrastructure Procurement in Sweden and the Netherlands , released by the International Transport Forum


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Impacts on Practice: Defining Leadership Roles at the Athens-Ben Epps Airport

By www.trb.org
Published On :: Wed, 10 Apr 2019 05:36:39 GMT

TRB's Airport Cooperative Research Program (ACRP) latest Impacts on Practice explores the impact ACRP Research Report 58 : Airport Industry Familiarization and Training for Part-Time Airport Policy Makers has helped airport policy leaders, stakeholders, and policy-related decision makers understand airport administrative and operational requirements in order to assist them in making more informed policy decisions. According to an Airport Authority Board Member and Chair of the Air Service Development Com...


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Guidebook for Managing Small Airports - Second Edition

By www.trb.org
Published On :: Thu, 02 May 2019 06:49:27 GMT

TRB’s Airport Cooperative Research Program (ACRP) Research Report 16: Guidebook for Managing Small Airports. Second Edition is designed to help airport practitioners, owners, operators, managers, and policymakers of small airports, who may have varying degrees of experience and backgrounds, to fulfill their responsibilities in such areas as financial management, oversight of contracts and leases, safety and security, noise impacts, community relations, compliance with federal and state obligations, facil...


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  • http://www.trb.org/Resource.ashx?sn=Cover_ACRP_Rpt16-2
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Airports and Unmanned Aircraft Systems, Volume 1: Managing and Engaging Stakeholders on UAS in the Vicinity of Airports

By www.trb.org
Published On :: Wed, 09 Oct 2019 18:00:13 GMT

The introduction of unmanned aircraft systems (UAS) has presented a wide range of new safety, economic, operational, regulatory, community, environmental, and infrastructure challenges to airports and the National Airspace System. These risks are further complicated by the dynamic and shifting nature of UAS technologies. The pre-publication draft of ACRP Research Report 212: Airports and Unmanned Aircraft Systems, Volume 1: Managing and Engaging Stakeholders on UAS in the Vicinity of Airports provides gu...


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  • http://www.trb.org/Resource.ashx?sn=cover_acrp_rpt_212
business and finance

Promoting Aviation Career Education in High Schools and Community Colleges

By www.trb.org
Published On :: Mon, 02 Dec 2019 12:28:44 GMT

More airport operations/management academic programs at both the high school and community college levels would help the airport industry. With baby boomers currently reaching retirement age at the rate of 10,000 each day, and later generations much smaller in size, new employees are not entering the workforce swiftly enough to replace those leaving because of retirement, illness, and other complicating factors. As a result, the aviation industry, like others, is experiencing a significant labor shortage...


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  • http://www.trb.org/Resource.ashx?sn=cover_acrp_syn_103
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Climate Resilience and Benefit–Cost Analysis: A Handbook for Airports

By www.trb.org
Published On :: Thu, 27 Jun 2019 05:33:27 GMT

TRB’s Airport Cooperative Research Program (ACRP) Research Report 199: Climate Resilience and Benefit–Cost Analysis: A Handbook for Airports provides information on how to apply benefit–cost analysis tools and techniques to improve decision making affecting resilience of airport infrastructure projects in response to potential long-term impacts of climate change and extreme weather events. The handbook is designed to improve the process by which infrastructure investment strategies are evaluated, with an...


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  • http://www.trb.org/Resource.ashx?sn=Cover_acrp_rpt_199
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Attracting Investment at General Aviation Airports Through Public–Private Partnerships

By www.trb.org
Published On :: Wed, 04 Sep 2019 06:43:27 GMT

Although general aviation airports have historically been funded by federal, state, and local entities, the private sector is increasingly playing a larger role. This involvement has ranged on a continuum from service and management contracts to singular projects at airports that involve leasing mechanisms to long-term leases and the whole-scale private development of general aviation airports. In an era of declining resources and increasingly scrutinized public expenditures, private-sector involvement i...


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  • http://www.trb.org/Resource.ashx?sn=Cover_acrp_syn_94
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Benefit–Cost Analyses Guidebook for Airport Stormwater

By www.trb.org
Published On :: Mon, 28 Oct 2019 11:48:15 GMT

Many airports undertake stormwater projects to accommodate facility expansion, address obsolescence, and respond to evolving regulatory requirements. Often, stormwater infrastructure is installed or upgraded on a project-by-project and piecemeal basis, resulting in mismatches of sizes, material types, ages, and conditions. When airports are considering expanding or improving their stormwater facilities, the immediate need for stormwater infrastructure modification may not be clear, and a benefit–cost ana...


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  • http://www.trb.org/Resource.ashx?sn=cover_acrp_rpt_208
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Estimating Market Value and Establishing Market Rent at Small Airports

By www.trb.org
Published On :: Tue, 11 Feb 2020 06:41:14 GMT

Staff from smaller airports typically lack specialized expertise in the negotiation and development of airport property or the resources to hire consultants. The TRB Airport Cooperative Research Program's ACRP Research Report 213: Estimating Market Value and Establishing Market Rent at Small Airports provides airport management, policymakers, and staff a resource for developing and leasing airport land and improvements, methodologies for determining market value and appropriate rents, and best practices ...


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  • http://www.trb.org/Resource.ashx?sn=cover_acrp_rpt_213
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ACRP Impacts on Practice - Wayfinding and Signing Guidelines for Airports

By www.trb.org
Published On :: Sun, 03 Jan 2016 20:36:02 GMT

The September 2015 issue of TRB’s Airport Cooperative Research Program (ACRP) Impacts on Practice explores how Philadelphia International Airport, Fort Lauderdale-Hollywood International Airport, and Changi Airport in Singapore applied guidance from ACRP Report 52 : Wayfinding and Signing Guidelines for Airport Terminals and Landside to help passengers find their way in and around an airport.


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  • http://www.trb.org/Resource.ashx?sn=IOP2015Septcover
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Guidebook for Preparing and Using Airport Design Day Flight Schedules

By www.trb.org
Published On :: Tue, 01 Nov 2016 09:51:28 GMT

TRB’s Airport Cooperative Research Program (ACRP) Research Report 163: Guidebook for Preparing and Using Airport Design Day Flight Schedules explores the preparation and use of airport design day flight schedules (DDFS) for operations, planning, and development. The guidebook is geared towards airport leaders to help provide an understanding of DDFS and their uses, and provides detailed information for airport staff and consultants on how to prepare one.


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  • http://www.trb.org/Resource.ashx?sn=acrp_rpt_163cover