January 20: Business Briefs

FRIDAY, JAN. 20:

Tonya Marshall hired by Third Point Re

Third Point Re has hired Tonya Marshall to be its executive vice president, general counsel and secretary. Prior to joining Third Point Re, Tonya was the general counsel and board secretary for The Bank of N.T. Butterfield & Son Limited.

Prior to joining Butterfield in 2008, she was employed by Conyers, Dill & Pearman where her practice included all aspects of corporate and commercial law with a particular focus on public company and insurance/reinsurance company matters. John Berger, chairman and CEO of Third Point Re, said: “We are delighted that someone of Tonya’s experience, quality and stature is joining us. 

“Third Point Re is committed to the reinsurance industry and to the Bermuda business community and we are looking forward to working with Tonya as a member of our executive team.”

XL earnings

XL Group plc said it intends to release its fourth quarter and full year 2011 results after the close of regular stock market trading hours on Thursday, February 9. 

A conference call to discuss the company’s results will be held at 6pm Bermuda Time on Thursday, February 9.

The conference call can be accessed through a listen-only dial-in number or through a live webcast. To listen to the conference call, please dial (210) 795-0624 or (866) 617-1526: Passcode: “XL GLOBAL”.  The webcast will be available at www.xlgroup.com and will be archived on XL’s website from approximately 10pm Bermuda Time on February 9, through March 9. A telephone replay of the conference call will also be available beginning at approximately 10pm Bermuda Time on February 9, through March 9. by dialing (402) 998-1350 or (888) 458-8112.

PartnerRe Thai loss

PartnerRe Ltd. said the company expects to record a charge of approximately $120 million, pre-tax and net of retrocession and reinstatement premiums, in its fourth quarter 2011 results related to the flooding in Thailand, which occurred in October and November, 2011.

This is in line with the company’s previous announcement that its losses related to this event will be in the range of 0.5 per cent to 1.0 per cent of the total insured industry losses.

PartnerRe’s estimate is consistent with an industry event loss estimate in excess of $15 billion.

As a result of this event, the increase to loss estimates related to the Tohoku earthquake in Japan previously announced by the Company on December 14, 2011, and other loss activity, the Company expects to report a fourth quarter 2011 pre-tax operating loss of between $110-$130 million.

Bacardi party

Bacardi Limited will host one-of-a-kind birthday parties, launch special promotions featuring 100 years of ground-breaking advertising, introduce a $2,000 limited-edition decanter of rare Bacardi rum, offer travel retail exclusives and commemorative gifts, and much more for consumers to come together and share in the excitement.

“The passion and entrepreneurial spirit shown by my great-great grandfather in Santiago de Cuba a century and a half ago gave birth to exceptional rum that would change the spirits industry forever,” said Facundo L. Bacardi, Bacardi Limited chairman and fifth-generation Bacardí family member.  “These qualities remain key to our phenomenal success and position today as the world’s favorite and most awarded rum brand, with more than 400 awards to date.”

Bacardi 150th birthday parties around the world will feature award-winning musical talent, top celebrities and other mover and shakers who, alongside consumers, will wish Bacardi happy birthday.

By visiting the Bacardi Facebook page (www.facebook.com/BACARDI), with more than two million fans, consumers of legal drinking age in select markets can vie for Bacardi 150th birthday party tickets and Bacardi party kits filled with all ingredients to host their own unforgettable gathering.

Eight Maestros de Ron, all Bacardí family members, have combined their talents to create a very special, limited-edition rum — Ron BACARDÍ de Maestros de Ron, Vintage, MMXII. A blend of the finest rums laid to rest in oak barrels over the last 20 years and finished in 60-year-old Cognac barrels, the vintage blend is presented in a hand-blown 500ml crystal decanter housed in a leather case and retails for US$2,000.

Truly limited, only 400 decanters are available for purchase at select international airports and premium retail establishments around the world.