June 14: Business Briefs

Guest bartending event at Reefs

The Reefs launched a  new weekly guest bartender event to help raise money and awareness for selected local charities.

Every Thursday evening from 7pm to 9pm, locals and visitors can participate in the event at The Reefs’ main bar, lounge and terrace while enjoying the musical styling of Tempo Band and Randy Lambert. 

Each week a new guest bartender will team up with the head bartender, Mike Pitt, and serve drinks to all participants.

 For every drink that the guest bartender serves, The Reefs will donate $1 to the charity selected for the Month.

The charity selected for June is The Sunshine League with the following line up of guest bartenders:

Last night,  Rachel Sawden, owner of Bermy Deals and Loyalty Rewards served up drinks.

Director appointment

Southern View Finance Ltd said that at a meeting of the directors of the Company held on May 30, 2013, Trevor Davis was appointed as a director of the Company. The appointment was effective from May 30, 2013.

St George’s Club

The St. George’s Club has joined the Interval International network.

Sally-Anne Kyle, president and CEO of The St George’s Club, said in a press release: “We are committed to providing our current and future members with exceptional vacation experiences and exchange opportunities.

“Our new affiliation with Interval represents an exciting and significant enhancement to ownership at The St. George’s Club. We are delighted to be among the leading hospitality brands and resort developers who have also selected Interval’s Quality Vacation Exchange Network.”

Hiscox

Hiscox, the international specialist insurer,  launched phase two of their Hiscox Professional Liability Portfolio, adding two additional coverage options to the existing portfolio. 

Professional Services Firms can now add Crime and Data Breach and Privacy Security Liability, in addition to General Liability coverage to their Hiscox Professional Liability policies.  

Hiscox Professional Liability Portfolio launched in February with industry specific forms for occupations needing Allied Healthcare (AHC), Architects & Engineers (A&E) and Miscellaneous Professional Liability (MPL) insurance coverage.  Simplified policy language and the ability to cross-sell new coverages to clients are the hallmarks of the Hiscox Professional Liability Portfolio.

Astwood’s gold elephant sale

Astwood Dickinson has big, big news.

The jeweller has unveiled the seventh release from their exclusive Signature Collection Tuesday.

The 18kt gold elephant pendant/pin is designed and handmade in Bermuda in the company’s Front St. workshop by jeweler, Julian Pitkin. 

This pendant/brooch also features a diamond representing the eye of the elephant. The Signature Collection production run is limited to 100 pieces, numbered individually.  

Managing director Somers Cooper said in a pres release: “The Elephant is considered to be a symbol of good luck and strength in many cultures. The Elephant’s strong family bonds that exist among its species has naturally made the majestic animals also represent love, respect and loyalty.”

Montpelier dividend

Montpelier Re Holdings Ltd. has declared a quarterly dividend of $0.115 per common share. The company’s board of directors  has also declared a quarterly dividend of $0.554688 per 8.875% Non-cumulative preferred share, series A. The dividends are payable on or before July 15, 2013, to all shareholders of record as of June 28, 2013.

Top Layer rating

AM Best Co. has affirmed the financial strength rating of A+ (Superior) and issuer credit rating of “aa-” of Top Layer Reinsurance Ltd. (Top Layer) (Hamilton, Bermuda). The outlook for both ratings is stable.

AM Best said the ratings reflect the substantial amount of support Top Layer receives from its co-owners, State Farm Mutual Automobile Insurance Company and Renaissance Reinsurance Ltd. (RenRe) and an ICR of “aa-”).

Since Top Layer’s inception in 1999, it has generated outstanding operating results, which are due to the property catastrophe underwriting expertise of RenRe, combined with very few catastrophes significant enough to impact the programmes written in Top Layer’s core markets.

RenRe rating

AM Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Renaissance Reinsurance Ltd. (RenRe) and Renaissance Reinsurance of Europe (Dublin, Ireland). AM Best also has affirmed the ICR of “a-” and all debt ratings of RenaissanceRe Holdings Ltd., and the FSR of A (Excellent) and ICRs of “a” of RenaissanceRe Specialty Risks Ltd. 

Concurrently, AM Best has affirmed the FSR of A (Excellent) and the ICR of “a+” of DaVinci Reinsurance Ltd. as well as the ICR of “bbb+” of DaVinci Re Holdings Ltd. In addition, A.M. Best has assigned an FSR of A (Excellent) and an ICR of “a” to RenaissanceRe Specialty US Ltd. . The outlook for all ratings is stable. All aforementioned companies are domiciled in Bermuda, unless otherwise specified. 

The rating actions reflect RenRe’s superior level of risk-based capitalization, the strength and depth of its management team and the ability of the company to deliver strong long-term profitability over the course of the insurance cycle.