December 21: Business Briefs

FRIDAY, DEC. 21: The Bank of Butterfield has announced it dished out $120,000 to local human services charities in 2012.

Under its Butterfield Hope Award programme, the bank donated $10,000 each month to a local registered charity providing assistance to people in need in Bermuda.

New this year was an employee voting component that allowed Butterfield employees to vote for a recipient charity of their choice. The 12 charities that received funding in 2012 were:

• De Boys’ Day Out Club
• WindReach
• Big Brothers Big Sisters
• Friends of Hospice
• Tomorrow’s Voices
• Multiple Sclerosis Society of Bermuda (staff vote)
• The Charitable Association for Physically Handicapped Children
• Project 100
• Centre Against Abuse
• Outward Bound
• Caron Bermuda
• The Coalition for the Protection of Children (staff vote)

Michael Collins, senior executive vice president at Butterfield said in a press release: “As we all know, these are challenging economic times in Bermuda across all economic sectors.

“More than ever, people in our community are relying on our charities for assistance — from mentoring programmes to counselling and emergency services.

“We are pleased to have supported these deserving organisations and the vital services they are providing to our community.”

Gita Blakeney Saltus, JP and regional vice president Caron Bermuda said “Caron Bermuda is both humbled and appreciative to be one of the recipients of the Butterfield Hope Award.

“As we work with individuals and families who struggle with substance abuse, we know that our long-standing partnership with Butterfield reflects our mutual commitment in providing hope and healing to our community.”

Air Care gets the nod

Air Care is the new Authorised Building Control Specialist (ABCS) for Bermuda.

The decision was revealed by Johnson Controls — the global leader in building efficiency.

Air Care will now promote sell, install and provide local support for Johnson Controls products.

Controls delivers services and solutions that increase energy efficiency and lower operating costs in buildings. It is a leading provider of equipment, controls and services for heating, ventilating, air conditioning, refrigeration and security systems and has had a presence in Bermuda for decades.

Craig Stevenson, Manager of Business Development & Sales for Air Care said: “While we have worked with Johnson Controls for many, many years, it’s exciting to be now appointed as the official Authorised Building Control Specialist for Bermuda.”

Cost of Sandy

Maiden Holdings Ltd. has announced its initial loss estimate from Superstorm Sandy.

Maiden currently expects the underwriting impact from Superstorm Sandy, net of applicable reinsurance and the company’s quarterly provision for normalized catastrophe losses, to be in the range of between $25 million and $35 million.

Maiden’s exposure to this event is mainly from the Company’s E&S property insurance business, Maiden Specialty.