Why should you subscribe to InsideBermuda?
There is no better example of InsideBermuda's value - in dollar terms - than the sordid tale of Stirling Cooke Brown Holdings Ltd.
In November, 1997 - the same month that Stirling Cooke was taken public by Goldman Sachs at $22 per share, InsideBermuda exposed several omissions in the firm's IPO prospectus.
Our story detailed prior allegations of fraud against Stirling Cooke and/or its senior officers, including their involvement in one of the biggest ever insurance frauds, involving North American Fidelity & Guaranty/Dai Ichi Kyoto/Kobe Re.
By 2003, Stirling Cooke's share price was trading at just 15 cents per share and the company was teetering on the verge of collapse amid many lawsuits and arbitrations alleging fraud.
Fed up with stock analysts
and credit ratings agencies downgrading an
insurer - AFTER the bad news has already
been announced?
That is because you aren't an InsideBermuda subscriber, because if you were, you would be receiving information about Bermuda's insurance firms and financial institutions before it is widely known.
Launched in February, 1997, InsideBermuda is a monthly newsletter that focuses on Bermuda's international business sector, concentrating on insurance and reinsurance. The newsletter frequently publishes important news about Bermuda's business sector and its participants
before even the local newspapers. Plus, each month we publish details of all major business-related civil lawsuits filed at Bermuda Supreme Court.
After the very first edition of InsideBermuda, a Bermuda law firm acting for Mutual Risk Management sent us a letter threatening a libel action over an article raising questions about why the firm had replaced KPMG as its auditor
with Ernst & Young.
As is our policy, we stood behind our story and vindication was ours when, in 2002, MRM's share price collapsed to just three cents per share and the company was named as a defendant in several class action lawsuits alleging, inter
alia, accounting fraud.
Although InsideBermuda concentrates on the insurance industry, it also widely covers the investment industry and politics.
For example, an article published on May 28, 1997 about material misrepresentations and omissions in the share prospectus of NimsTec Ltd. directly led to its shares being de-listed by the Bermuda Stock Exchange in October, 1997.
Subscribers to InsideBermuda have round-the-clock access to the current and all back editions from our web-site, where they are saved as 'pdf' files. Plus, each annual subscription comes with 5 credits to search and open information
contained in our various databases, including the Story Library, Bermuda Supreme Court and the Grand Court of the Cayman Islands.
Click HERE to view a Free Issue ('PDF' file).
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