Business briefs: AM Best affirms Endurance ratings

AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of “a” of Endurance Specialty Insurance Ltd. (Endurance) and its affiliates. Concurrently, A.M. Best has affirmed the ICR of “bbb” and debt ratings of their publicly traded parent, Endurance Specialty Holdings, Ltd.

Both companies are domiciled in Bermuda. The outlook for all ratings is stable. 

Aspen appointment

Aspen US Insurance, part of the insurance segment of Aspen Insurance Holdings Limited, announced that Gary Windsor has joined as SVP of Energy and Construction.

Mr Windsor joins Aspen US Insurance with 35 years of experience in senior underwriting positions at Liberty International and Cigna/AFIA.

Tony Carroll, executive vice president, marine, energy, and construction, said in a release: “Gary has considerable technical experience in both U.S. domestic and international underwriting in the energy space, with a broad knowledge and excellent broker relationships in Latin America. We are delighted to welcome him to the team.”

Somers buy back

Somers Limited, a Bermuda exempted financial services investment holding company, announced that during the month of April 2014, Somers purchased 3,300 of its own common shares at an average cost of $12.25 per share. The Shares will be cancelled with immediate effect.

Post office

The Bermuda Post Office said that its advertisement on the back page of the recently circulated Price Rite flyer contains an error with respect to the Customs Duty on computers, MP3 Players and tablets.

Customs duty on software is 0 per cent. However, the Customs duty on computers, MP3 players and Tablets remains at 22.25 per cent.

The Bermuda Post Office apologizes for this error and for any inconvenience to the public.

BF&M resignation

BF&M Limited announced the resignation from its board of directors Aaron Smith. The resignation was effective on April 23. No replacement was named.