Posts Tagged ‘business news’

The Bevertec Group to Implement Shared Financial Delivery Services for St. Lucia Credit Unions

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CaribPR Wire, TORONTO, Feb. 06, 2019: Bevertec CST Inc., a leading provider of retail financial services technology and services in the Caribbean and worldwide, is pleased to announce that the company has reached an agreement with Capita Financial Services Inc. (Barbados) to implement an Automated Teller Machine network and related technology to serve the credit unions of St. Lucia.

The ATM driving, transaction switching and debit card issuing solution will be run from Bevertec’s processing centre in Antigua. All credit union ATMs in St. Lucia will be shared among the subscribing institutions forming a de-facto national network for credit unions. Bevertec’s Client Services Workstation will be available to all ATM-owner institutions enabling local, real-time, ATM monitoring and report retrieval over and above centralized monitoring and support delivered from Bevertec’s operations centre.

Bevertec’s President, Mr. Barry Walsh, commented, “We are very proud to be an integral participant in the digital transformation of St. Lucia’s Credit Unions. This project provides Bevertec with an opportunity to further demonstrate our commitment to the financial services industry in the region. We are looking forward to working with Capita and the Credit Unions of St. Lucia in building a showcase of innovation and service delivery.”

Mr. Paul Maxwell, President & CEO of Capita Financial Services Inc. said, “This partnership is transformative, both for the credit unions who can now offer their members a more complete range of services and for individual members who would now be able to perform ordinary day-to-day transactions in a way that was not before possible.”

About Bevertec Group

Since 1981, the Bevertec Group, a Canadian enterprise, has been supplying technology and services to various industry sectors. The Group has over 100 customers in the financial services sector spread across five continents but focuses primarily in the Caribbean, Central and South American markets. The Group also provides consulting services, staffing solutions and subject matter expertise to assist institutions at all business levels including development/project work, project management and strategic direction and planning.

About Capita Financial Services Inc.

Capita Financial Services Inc., a Barbados company, is a one-stop financial services company. Capita provides residential and commercial mortgages, land loans, vehicle loans, premium finance loans, leases, general insurance, term deposits, mutual funds and stock brokerage services. The company serves private individuals, insurance companies, credit unions, government statutory corporations, pension funds, and institutional investors.

About St. Lucia Co-operative League Limited

The St. Lucia Co-operative League Limited is the umbrella body for Co-operatives in St. Lucia. At the local level they function as the link between government and the individual Credit Unions. Key responsibilities include fostering the growth and welfare of Credit Unions both by direct effort and co-operation with other agencies having similar objectives and providing information and guidance to co-operative leaders and personnel so that the societies they serve will offer the best possible service to members and to make such opportunity equitable.

El Grupo Bevertec implementará servicios de entrega financiera compartida para las cooperativas de ahorro y crédito de Santa Lucía

CARIBPR WIRE TORONTO, Feb. 06, 2019:  Bevertec CST Inc., un proveedor líder de servicios y tecnología de servicios financieros para el consumidor en el Caribe y en todo el mundo, se complace en anunciar que la compañía ha alcanzado un acuerdo con Capita Financial Services Inc. (Barbados) para implementar una red de cajeros automáticos y tecnología relacionada para atender a las cooperativas de ahorro y crédito de Santa Lucía (St. Lucia Co-operative League Limited).

La solución para manejo de cajeros automáticos, cambio de transacciones y emisión de tarjetas de débito se ejecutará desde el centro de procesamiento de Bevertec en Antigua. Todos los cajeros automáticos de St. Lucia Co-operative League Limited será compartida entre las instituciones suscritas que forman una red nacional de facto para las cooperativas de crédito. La estación de trabajo de Servicios para Clientes de Bevertec estará disponible para todas las instituciones propietarias de cajeros automáticos, lo que permitirá el monitoreo de cajeros automáticos en tiempo real en tiempo real y la recuperación de informes por encima del monitoreo y la asistencia centralizados que ofrece el centro de operaciones de Bevertec.

El presidente de Bevertec, el Sr. Barry Walsh, comentó: “Estamos muy orgullosos de ser un participante integral en la transformación digital de las cooperativas de crédito de Santa Lucía. Este proyecto le brinda a Bevertec la oportunidad de demostrar aún más nuestro compromiso con la industria de servicios financieros en la región. Estamos ansiosos por trabajar con Capita y las cooperativas de ahorro y crédito de Santa Lucía en la construcción de una muestra de innovación y prestación de servicios “.

El Sr. Paul Maxwell, Presidente y CEO de Capita Financial Services Inc. dijo: “Esta asociación es transformadora, tanto para las cooperativas de ahorro y crédito que ahora pueden ofrecer a sus miembros una gama de servicios más completa como para los miembros individuales que ahora podrían realizar transacciones cotidianas ordinarias de una manera que antes no era posible “.

Acerca del Grupo Bevertec

Desde 1981, el Grupo Bevertec, una empresa canadiense, ha estado suministrando tecnología y servicios a diversos sectores de la industria. El Grupo tiene más de 100 clientes en el sector de servicios financieros distribuidos en los cinco continentes, pero se centra principalmente en los mercados del Caribe, América Central y América del Sur. El Grupo también proporciona servicios de consultoría, soluciones de personal y expertos para ayudar a las instituciones en todos los niveles de negocios, incluido el desarrollo / trabajo de proyectos, gestión de proyectos y dirección estratégica y planificación.

Acerca de Capita Financial Services Inc.

Capita Financial Services Inc., una compañía de Barbados, es una compañía integral de servicios financieros. Capita otorga hipotecas residenciales y comerciales, préstamos sobre terrenos, préstamos para vehículos, préstamos con financiamiento premium, arrendamientos, seguros generales, depósitos a plazo, fondos mutuos y servicios de corretaje de valores. La compañía presta servicios a personas privadas, compañías de seguros, cooperativas de crédito, corporaciones gubernamentales, fondos de pensiones e inversionistas institucionales.

Sobre St. Lucia Co-operative League Limited

St. Lucia Co-operative League Limited es el organismo que une a las cooperativas en Santa Lucía. A nivel local, funciona como el vínculo entre el gobierno y las cooperativas de crédito individuales. Las responsabilidades clave incluyen fomentar el crecimiento y el bienestar de las cooperativas de crédito, tanto por el esfuerzo directo como por la cooperación con otras agencias que tienen objetivos similares y brindar información y orientación a los líderes y al personal de las cooperativas para que las sociedades a las que sirven ofrezcan el mejor servicio posible a sus miembros y para asegurar que oportunidades como esta sean equitativas.

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Parkland Completes Acquisition of 75% of the Shares of Sol Investment Limited, the Largest Independent Fuel Marketer in the Caribbean

CaribPR Wire, CALGARY, Alberta, Jan. 08, 2019:  Parkland Fuel Corporation (“Parkland”) (TSX:PKI), a leading convenience store operator and one of the fastest growing independent marketers of fuel and petroleum products in the Americas, today announced the closing of its acquisition of 75% of the shares of Sol Investments Limited (“SIL” and together with its subsidiaries “Sol”). Sol is the largest independent marketer and supplier of petroleum products in the Caribbean, operating in 23 jurisdictions. As expected, this close enables Sol to effectively contribute to Parkland’s earnings for the full calendar year of 2019. Parkland will update its guidance for 2019 when it discloses its year-end results for 2018.

“The opportunity to expand to a new geography and market through a strong business platform like Sol is an exciting time for Parkland. The assets and infrastructure we have acquired are proven, well known, and will enable Parkland to extend its supply advantage into a new region,” said Bob Espey, President and Chief Executive Officer of Parkland. “I would like to welcome the Sol team to Parkland. Our two businesses are stronger together, and I look forward to the opportunities this acquisition will enable for all of us.”

Pierre Magnan, Parkland’s Vice-President of Corporate Development and former head of Supply, Trading & Refining will assume the role of President, Parkland International and will oversee the Sol business based  from Grand Cayman.

“I look forward to working with the Sol team to build on Sol’s strong foundation of safe and reliable supply in the region,” said Mr. Magnan. “We are committed to investing in Sol’s people and infrastructure to grow our presence in the region.”

FORWARD-LOOKING STATEMENTS

Certain information included herein is forward-looking. Many of these forward looking statements can be identified by words such as “expects”, “expected”, “will”, “anticipate”, “continue”, or similar words. Forward-looking information in this press release includes, but is not limited to, potential benefits to be realized from the business combination, Parkland’s future investment in the assets of Sol and expansion of operations in the Caribbean region. Parkland believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Parkland’s annual information form and other continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Parkland’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities including increases in taxes; changes in environmental and other regulations; and other factors, many of which are beyond the control of Parkland.

Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

ABOUT PARKLAND FUEL CORPORATION

Parkland is Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator.  Parkland services customers through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating the Parkland Burnaby Refinery, and leveraging a growing portfolio of supply relationships and storage infrastructure.  Parkland provides trusted and locally relevant fuel brands and convenience store offerings, including its On the Run/Marché Express banners, in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

To sign up for Parkland news alerts, please go to http://bit.ly/PKI-Alert or visit www.parkland.ca.

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DoubleLine UCITS Funds Now Available on Allfunds Bank Platform

LOS ANGELES, Oct. 24, 2018 /PRNewswire-HISPANIC PR WIRE/ – DoubleLine Capital LP has begun offering its Luxembourg-domiciled UCITS funds on the Allfunds Bank platform, an open architecture, worldwide distributor of mutual funds.

“Allfunds is one of the leading international distribution platforms,” said Ron Redell, executive vice president of DoubleLine. “The availability of DoubleLine Funds (Luxembourg) on this distribution network is strategically important for DoubleLine’s UCITS funds global expansion.”

The term UCITS stands for Undertakings for the Collective Investment of Transferable Securities, an open-end fund vehicle available in Europe, Latin America and many other countries outside the U.S. The sub-funds of the DoubleLine Funds (Luxembourg) UCITS currently include the DoubleLine Shiller Enhanced CAPE® equity sub-fund, which is co-managed by DoubleLine Alternatives LP and DoubleLine Capital LP, and DoubleLine Short Duration fixed income sub-fund, which is managed by DoubleLine Capital LP. Depending on an investor’s country of residence, the sub-funds are available via retail and institutional share classes denominated in various currencies.

Allfunds Bank Group offers integrated fund solutions (operational, analysis and information). Created in 2000, today Allfunds Bank has more than €370 Billion assets under administration and offers more than 64,400 funds from over 1,200 fund managers. Allfunds Bank Group has a local presence in Luxembourg, Switzerland, United Kingdom, Spain, Italy, United Arab Emirates, Singapore, Chile and Colombia and has more than 605 institutional clients, including major commercial banks, private banks, insurance companies, pension funds, fund managers, financial supermarkets, international brokers, and specialist firms from 45 different countries. Allfunds Bank Group operates in Asia through the entity of Allfunds Singapore Branch.

About DoubleLine Capital LP

DoubleLine Capital LP is an investment adviser registered under the Investment Advisers Act of 1940. As of the September 30, 2018 end of the third quarter, DoubleLine Capital and its related companies (”DoubleLine”) managed approximately $123 billion in assets across all vehicles, including open-end mutual funds, collective investment trusts, closed-end funds, exchange-traded funds, hedge funds, variable annuities, UCITS and separate accounts. DoubleLine’s offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. Media can reach DoubleLine by e-mail at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.

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COSME ANNOUNCES THREE FINALISTS FOR GLOBAL ENTREPRENEUR WEEK

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FOR IMMEDIATE RELEASE:

CaribPR Wire, TORTOLA, BVI, November 17, 2016 COSME, an European Union funded programme and key supporter of entrepreneurs in the Caribbean region, is proud to announce its three finalists in their Confessions of an Entrepreneur contest.  The three finalists are: Libbie Oliver, Owner of Caribbean Mountain Coffee, British Virgin Islands, Cristal Legrand of SSSAS Tourism Ambassador in Sint Maarten and Madhavi Mathura of Accounting & Enterprise Solutions in Cayman Islands.  These finalists were able to deliver a short, well-articulated message about being an Entrepreneur. The contest was open to all entrepreneurs in the 12 Overseas Countries and Territories (OCT’s): Anguilla, Aruba, Bonaire, British Virgin Islands, Cayman Islands, Curaçao, Montserrat, Saba, St. Barthelemy, Sint Eustatius, Sint Maarten and Turks and Caicos.

The three videos have been posted on Facebook with voting boxes. The final winner will be selected by the public through online voting, which can be done here or at  http://bit.ly/COSMEVideo. The video with the most votes by midnight November 20th, 2016 will win a HD Kindle Fire.

Ms. Oliver of Caribbean Mountain Coffee focused on the need for passion and how it will carry you through in a well-crafted message that tied into her own passion for coffee. Ms. Legrand of SSSAS Tourism is a brand new entrepreneur that was bubbling with enthusiasm and commitment for her upcoming opening.  Ms. Mathura of Accounting & Enterprise Solutions was clear about her dream and the need to just make a start or nothing can happen. All videos presented excellent messages.

As part of Global Entrepreneurship Week VI initiatives, COSME adopted the Confessions of an Entrepreneur series in its efforts to learn more and share more stories from entrepreneurs in the Overseas Territories.  This contest generated awareness and coordinated with a number of Entrepreneur activities taking place during Global Entrepreneur week, November to 14 – 20, 2016.

“The Confessions of an Entrepreneur contest enables COSME to show its support through results driven social media in profiling these successful entrepreneurs. This contest demonstrates that social media implemented in addition to traditional channels is an effective tool that OCT entrepreneurs can use to create awareness for their businesses in and beyond their country borders. During the video submission week COSME received over 30,000 visits,” stated, Diana Hendrickson-Fleming, COSME, Key Expert.

The public will choose which of the three entrepreneurs’ videos at http://bit.ly/COSMEVideo has the best Confession. Join in on the fun and cast your vote.  Voting will close November 20, 2016.

ABOUT COSME

COSME is a 54-month programme with the responsibility to disperse 15M Euros to projects benefiting participating Caribbean Territories. The funds were made available by the European Union (EU). The programme’s overall objective is to contribute to the sustainable and climate-resilient economic diversification and prosperity of Caribbean OCTs by improving the competitiveness of Small and Medium-sized Enterprises (SMEs) in the participating territories.

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Media Contact:

Samuel K. Kruiner

Private Sector Development Expert/SME Expert (British OCTs)

Caribbean OCTs SME (COSME) Programme SME Regional Project Office

Email: Samuel.kruiner@gopa.de

SME Regional Project Office

Road Town

Tortola

British Virgin Islands

www.cosmeprogramme.org

www.facebook.com/cosmeprogramme

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Ernst & Young Ltd. announces two senior leadership changes in Bermuda

David Brown appointed as Senior Partner in Bermuda and Regional Insurance Leader and Jessel Mendes named Regional Growth Markets Leader

HAMILTON, Bermuda, Nov. 1, 2016 /PRNewswire-HISPANIC PR WIRE/ — Ernst & Young Ltd. today announced two leadership changes. David Brown will become the firm’s Senior Partner in Bermuda and Insurance Leader for the EY Bahamas, Bermuda, British Virgin Islands and Cayman Islands region, replacing Pete Cangany, who will retire from EY after 37 years with the organization. This transition will take effect on July 1, 2017, and Cangany will remain in the role until that time. Effective immediately, Jessel Mendes will assume the new role of Regional Growth Markets Leader, in addition to his current responsibilities as Partner of Ernst & Young Ltd. (EY Bermuda).

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Brown most recently served as the Insurance Industry leader for the Southwest Region of Ernst & Young LLP in the US and directed the Southwest Region FSO Assurance practice. He has more than 27 years of experience working with large multinational clients, including insurance companies with global operations, US domestic insurance enterprises and Bermuda-based global reinsurance companies. Cangany has served as Senior Bermuda Partner since July 2014, and has been regional Insurance Leader since January 2013.

“Under Pete’s leadership, we have been able to build a high-performing team in Bermuda, enhance our relationships with stakeholders across the market and expand our range of services and expertise,” said Dan Scott, Regional Managing Partner for the EY region including Bahamas, Bermuda, the British Virgin Islands and the Cayman Islands. “We are very excited to have David assume this role and contribute to our legacy of leadership. His deep insurance and reinsurance experience, coupled with his knowledge of the market, will allow us to bring even more global resources to our Bermuda clients and help them capitalize on new opportunities. We are pleased to have Pete remain in the role through the end of June to provide guidance and assist in the transition process.”

In taking on the new role of Growth Markets Leader for the region, Jessel Mendes will be adding to his current responsibilities as EY Bermuda Partner. In addition to continuing to interact with EY Bermuda clients and other market stakeholders, as Growth Markets Leader he will focus on driving growth for EY firms across the region, maintaining a pulse on the market, overseeing the growth of EY service offerings, programs and initiatives, and determining how resources and capabilities can be best deployed to benefit clients. Mendes, who is a member of the board of the Bermuda Business Development Agency (BDA), will also leverage his extensive network of relationships to uncover new opportunities and help EY Bermuda and the region’s other firms build on their market position.

“We are positioned for the next phase of growth in Bermuda and across the region, so the timing for these changes is ideal,” added Scott. “We have been working diligently with Pete, David and our clients to lay the groundwork for a smooth transition. David has a deep understanding of the challenges organizations are facing and great insurance industry knowledge, so he was a natural choice to lead our Bermuda practice. With Jessel taking on a new role, we now have a great opportunity to serve our clients’ rapidly-evolving needs and accelerate growth.”

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

This news release has been issued by Ernst & Young Ltd., Bermuda, a member of the global EY organization serving clients in Bermuda.

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Markel completes acquisition of assets of CATCo Investment Management Ltd.

RICHMOND, Virginia, LONDON and HAMILTON, Bermuda, Dec. 8, 2015 /PRNewswire-HISPANIC PR WIRE/ — Markel Corporation (”Markel”) (NYSE: MKL) and CATCo Investment Management Ltd. (”CATCo”) jointly announced today the completion of the acquisition by Markel of substantially all of the assets of CATCo.

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The business, which provides collateralized protections to over 35 global reinsurance buyers, will now operate as Markel CATCo Investment Management Ltd. (”Markel CATCo”). Every member of the CATCo team, led by Chief Executive Officer Tony Belisle, has transferred to Markel CATCo.

Richard R. Whitt, President and Co-Chief Operating Officer of Markel, commented, “We welcome Tony and the CATCo team into the Markel family. The reception by existing CATCo reinsurance buyers and investors to the newly established Markel platform has been overwhelmingly positive. We truly will be hitting the ground running.”  Whitt further remarked, “Joining CATCo’s insurance linked investment management capabilities alongside Markel’s traditional reinsurance capabilities should make for a powerful combination.”

Tony Belisle, Chief Executive Officer of Markel CATCo Investment Management Ltd., said, ”I am delighted with the successful closure of the transaction and the bringing together of two fantastic organisations that share similar goals and cultures.

“The extra support our new owner brings will enable us to offer enhanced product ranges and secure capital efficiencies for our growing number of reinsurance buyers. With a significant amount of next year’s renewals already committed and projected AUM expected to exceed $3bn, 2016 is shaping up to be a positive and exciting year.”

Willis Capital Markets & Advisory served as exclusive financial advisor and Hogan Lovells International LLP served as legal advisor to CATCo. Sidley Austin LLP served as legal advisor to Markel.

About Markel Corporation

Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company’s principal business markets and underwrites specialty insurance products. In each of the Company’s businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value. Visit Markel Corporation on the web at www.markelcorp.com.

About Markel CATCo Investment Management Ltd.

Markel CATCo Investment Management Ltd. is a specialist investment management business. From its headquarters in Hamilton, Bermuda, Markel CATCo manages retrocession and traditional reinsurance portfolios for clients around the world, including financial institutions, charities, pension funds, family offices and investment funds. Markel CATCo Investment Management Ltd. is authorized and regulated by the Bermuda Monetary Authority.

Disclaimer

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Markel’s and Markel CATCo’s beliefs, plans or expectations, are forward-looking statements. These statements are based on Markel’s and Markel CATCo’s current plans, estimates and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Neither Markel nor Markel CATCo assumes any obligation to update this release (including any forward-looking statements herein) as a result of new information, developments or otherwise. This release speaks only as of the date issued.Photo – http://photos.prnewswire.com/prnh/20140415/73238

CONTACT: Markel Corporation, Media, Paul Broughton, Managing Director, Marketing, 804-527-7618, pbroughton@markelcorp.com; Markel Corporation, Investors, Bruce Kay, Managing Director, Investor Relations, 804-747-0136, bkay@markelcorp.com; Markel CATCo Investment Management Ltd., Media, Mark Way, Investor Relations Director, +44 7786 116 991, mark.way@markelcatco.com; Markel CATCo Investment Management Ltd., Investors, Tony Belisle, Chief Executive Officer, 508-259-1640, tony.belisle@markelcatco.com

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