Grant Gibbons

Former Bermuda Minister of Finance Grant Gibbons is involved with a new Bermuda-registered company called Wired Atlantic Ltd. that will provide venture capital funding to e-commerce ventures, reported The Royal Gazette newspaper.

Former Centre Solutions boss David Brown and Grant Gibbons, Bermuda's former Minister of Finance, are no longer part of Gemini Re Holdings, OffshoreAlert can reveal. Brown was the President and CEO of the proposed reinsurer, while Gibbons was the Chief Financial Officer and Treasurer.

Bermuda-registered Gemini Re Holdings Ltd. today filed an S-1 registration statement with the SEC as the first step towards a proposed $400 million IPO. It is intended at this stage that the offering, which is being handled by Merrill Lynch and Chase Securities, will be valued at $15 per share and that the shares will be listed on NASDAQ.

An interesting column was published in the Turks & Caicos Islands Free Press on November 26 in which Opposition MP Norman Saunders argued that the government must statutorily hold a General Election by February 17, 1999 when it would have ruled for precisely four years; Still in the Turks & Caicos Islands, where the strangest things often happen. New Chief Justice Richard Ground halted the trial of a man charged with two counts of possession of cannabis and possession with intent to supply after two jurors were seen getting into the same taxi as the defendant and the defendant's main witness following the end of the first day of the trial; Nowhere does a country's politicians have a more one-sided or forgiving relationship with God than in the Cayman Islands; The Cayman government has spent considerable amounts of tax-payers' money to take out a court injunction against the local Caymanian Compass newspaper to prevent those same taxpayers from seeing all or part of the monopoly agreement the government has with the much-reviled telecommunications carrier Cable & Wireless; As regular readers of this newsletter should be aware, we recently caught Lines Overseas Management salesman Scott Oliver lying to potential clients about his credentials by claiming he was on the board of advisors of the International Exchange Bank of Bermuda, which does not exist; and Grant Gibbons, who was Bermuda's Finance Minister until the UBP lost the General Election on November 9, has been appointed a founding director of a newly-formed holding company that intends to raise $1 billion for a life and annuity reinsurer.

Former Bermuda Finance Minister Grant Gibbons has been appointed a founding director of a newly-formed holding company set up to raise $1 billion for a new reinsurer in Bermuda, we can disclose. The involvement of Gibbons, who is part of one of the most influential and wealthiest families in Bermuda, is a shot in the arm for the project, whose existence we revealed last month.