Business briefs: New shops open in Hamilton parish

The Bank of N.T. Butterfield & Son Limited purchased for Treasury 312,431 Common Shares at an average price of $1.990 per share in the month of June.

In addition, in June, the Bank purchased 150 8% Preference Shares for cancellation at an average price of $1,179.07. n

Shareholders cautioned

GoGlobal Properties Limited said it has discontinued discussions with parties for the acquisition of properties in Germany.

In a release on the Bermuda Stock Exchange, it said: “Shareholders are further advised that GoGlobal is in discussions with parties for the acquisition of a portfolio of properties in Germany, the United Kingdom and Switzerland to be acquired in exchange for shares in GoGlobal.

“Accordingly, shareholders are advised to continue to exercise caution when dealing in their GoGlobal shares until a further announcement is made.” 

Arch earnings call

Arch Capital Group Ltd. announced that it expects to release its 2014 second quarter results after the close of regular stock market hours on Thursday, July 31, 2014. The Company will hold a conference call for investors and analysts at noon Atlantic Time on Friday, August 1, 2014.

A live webcast of this call will be available via the Investors section of the company’s website at www.archcapgroup.com. A telephone replay of the conference call also will be available beginning on August 1 at 4pm Atlantic Time until August 8, 2014.

To access the replay, domestic callers should dial 888-286-8010 (passcode 91603488), and international callers should dial 617-801-6888 (passcode 91603488). 

Orient-Express changes names

Orient-Express Hotels Ltd. confirmed that has changed its name from Orient-Express Hotels Ltd. to Belmond Ltd. following approval from shareholders at the 2014 annual general meeting of shareholders held on June 30, 2014. 

Furthermore, the Company intends to change the ticker symbol of its class A common shares listed on the New York Stock Exchange from OEH to BEL on July 28, 2014.

Shareholders also approved the election of eight directors to the Company’s board of directors at the AGM, including a new independent director, Roeland Vos, a business executive with strong board and luxury hospitality operations experience. 

Belmond earnings call

Belmond Ltd will release its second quarter earnings on Wednesday, July 30, 2014 after the market closes and will host a conference call for the investment community on Thursday, July 31, 2014 at 11am Atlantic Time. The company was formerly named Orient-Express Hotels Ltd.

Participants may listen to a simultaneous webcast of the conference call by accessing the presentations and events section of the Company’s investor relations website at www.investor.belmond.com/presentations-and-events. 

Blue Capital dividend

Blue Capital Reinsurance Holdings Ltd. has declared a quarterly dividend of $0.30 per common share, which is payable on or before July 31, 2014 to holders of record as of July 15, 2014. The company currently intends to distribute a minimum of 90 per cent of its distributable income (as defined in its Form 10-K for the year ended December 31, 2013, as filed with the Securities and Exchange Commission on March 7, 2014), in the form of cash dividends to its common shareholders. 

Blue Capital also intends to make regular quarterly dividend payments for each of the first three fiscal quarters of each fiscal year, followed by a fourth “special” dividend after the end of its fiscal year to meet its dividend payout target for each fiscal year. 

In addition, Blue Capital expects to release its second quarter 2014 results after the market close on July 25, 2014. Blue Capital, which commenced operations in November 2013, will not be hosting a conference call to discuss its results for this quarter. 

RenRe ratings

AM Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the 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. (RenaissanceRe) and the FSR of A (Excellent) and ICRs of “a” of RenaissanceRe Specialty Risks Ltd.