Overseas Partners Ltd. returned to profitability in the third quarter, reporting net income of $2.4 million or two cents per share, compared with a loss of $46.7 million or 37 cents per share a year earlier. Shortly after reporting its
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.
OffshoreAlert's unblemished track record when it comes to publishing exposes, despite letters threatening litigation; human cloning group touts Cayman and Bahamas as potential domiciles, who is disgrunted ex-Bank of Butterfield employee who criticized recently-retired chairman Sir David Gibbons?, Richard Black and Mike Cascio look to form new Bermuda insurance facility, possible bribery in the Turks and Caicos Islands, Cayman Islands Monetary Authority MD Neville Grant accepts no responsibility for collapse of First Cayman Bank, Global Private Banking magazine causes mirth by describing closure of FCB as an example of regulators "acting tough on miscreants", Cayman-based Oxford Advisors opens up office in Bermuda, 18 luxury homes in Bermuda sold for a total of $72 m in 1997, and what effect, if any, will the death of Charles Collis have on Bermuda Fire and Marine Insurance litigation?
The ability of finite risk reinsurer Stockton Re to continue its impressive growth since it was formed three years ago is in question following the resignations last month of chief underwriters Richard Black and Michael Cascio, who effectively ran the insurance side of the company.Their departures followed differences with senior management over the future direction of the firm following the recent sale of its investment manager and sister company, Commodities Corporation, to Goldman Sachs.