Company Reports

Building brands with a rich heritage for more than 150 years

Bacardi - nurtured by seven generations of the Bacardi family - is a vibrant, family-owned spirits company, as well as the world's largest privately held spirits company. From its enviable portfolio of premium brands pre-eminently positioned in the spirits industry, to landmark structures that have won worldwide architectural acclaim, Bacardi has constructed a legacy on perseverance, quality, prestige, innovation and creativity.

The exclusive emphasis on quality began in Santiago de Cuba where on February 4, 1862, Don Facundo Bacardí Massó purchased a small distillery and revolutionized rum making. After careful and systematic experimentation with a variety of ingredients, aging and blends, Don Facundo created a new, smooth, light-bodied spirit - BACARDÍ rum - what the world now knows as premium light rum.

The new BACARDÍ rum blend was a delight to the residents who were accustomed to the local "ron" that was crude and harsh. Cuba's emerging middle class welcomed the taste of smooth, light-bodied, aged and mixable rums branded with an elegant, intriguing black bat on the label.

It was this innovation by Bacardi that revolutionized the spirits world, enabling the establishment of an entire cocktail category and culture that remains vibrant today with its legendary creation of the first mixable rum.

Don Facundo’s quest and that of his descendants for unmitigated excellence has consistently manifested itself throughout the Company's more than 157-year history. Since then, the Company has grown to include an impressive portfolio of premium spirits with more than 200 brands and labels which includes BACARDĺ rum, PATRÓN tequila, GREY GOOSE vodka, DEWAR'S Blended Scotch whisky, BOMBAY SAPPHIRE gin, ERISTOFF vodka, CAZADORES tequila and MARTINI vermouths and sparkling wines.

Bacardi has operations around the world, cemented by the enduring quality of its products and the reputation. The Company sells in more than 170 global markets and operates more than 20 production facilities - for bottling, distilling and manufacturing in 12 countries.

The Bacardi Building in Bermuda, the global headquarters for the Company, was originally designed in the late 1950s by renowned German architect Ludwig Mies van der Rohe to replace the offices in Santiago de Cuba, but this masterpiece “office without walls” would never be built in Cuba. On October 14, 1960, revolutionary government forces illegally confiscated all Company assets in Cuba - a devastating heartache for a business just shy of its 100th anniversary. The Bacardi business and family were forced into exiled and moved to Bermuda in 1965.

The Mies van der Rohe designs lived on, thanks to Cuban architect Ricardo Eguilor who was hired to design a permanent home for the company in Bermuda.

Using Mies van der Rohe’s original plans, Eguilor chose to create a building with a strong foundation by employing a highly sophisticated method of constructing sidewalls from solid glass. The Bacardi Building, with its unique architecture, sweeping lawn and colorful fountain, has been a visual gift to the people of Bermuda – the adopted island home of Bacardi – for more than 50 years.

Bacardi has long recognized the importance of fostering positive connections with the local communities and broader societies it touches. Bacardi and its employees benefit through a greater social connection and therefore a sense of fulfillment in communities. Bacardi has a long history of contributing to the betterment of Bermuda and regularly supports local arts, sports, education, health and welfare, heritage and cultural endeavors.

From its portfolio of premium brands to its award-winning architectural landmarks, including the design inspiration for its global headquarters building in Bermuda, the legacy of perseverance, quality, prestige, innovation and creativity, which is the hallmark of Bacardi, lives on.

Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited, headquartered in Hamilton, Bermuda.

Chubb

A Global Leader in Property and Casualty Insurance

Chubb is the world’s largest publicly traded P&C insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.

As an underwriting company, we assess, assume, and manage risk with insight and discipline. We service and pay our claims fairly and promptly, and we combine the precision of craftsmanship with decades of experience to conceive, craft, and deliver the very best insurance coverage and service to individuals and families, and businesses of all sizes.

Chubb’s operations in Bermuda offer a wide range of insurance and reinsurance products to clients globally.

Prior to the ACE acquisition of Chubb in January, 2016, ACE was established in Bermuda in 1985 by 34 founding sponsors to address the lack of available excess liability and Directors and Officers coverage in the U.S. insurance marketplace.

Today, Chubb Bermuda offers market-leading, customized, large-block capacity for property, excess casualty, and financial lines coverages, all backed by decades of underwriting and claims experience. Chubb Bermuda is also an industry leader in providing large loss and limits benchmarking data, supporting clients in making well-informed risk and insurance purchasing decisions.

Political risk insurance solutions are provided through our subsidiary, Sovereign Risk Insurance Ltd., which is one of the world’s leading underwriters of political risk and sovereign credit insurance. Sovereign’s clients include many of the world’s largest banks, exporters, multinational corporations, export credit agencies, multilateral agencies, and private equity investors.

Chubb Tempest Re Bermuda is a leading global multi-line reinsurer providing a broad range of products to a diverse group of primary property and casualty companies. Tempest Re offers deep underwriting, actuarial, and claims expertise in property catastrophe reinsurance and other diversified lines, enabling us to tailor solutions to meet the unique and often complex needs of each client. Segregated accounts facilities and captive management are provided through Paget Reinsurance Ltd.

Supporting the communities where we do business is vital. The Chubb Charitable Foundation, Bermuda has a rich history of fostering philanthropic engagement in the community. We also recognize our responsibility to provide solutions that help clients manage environmental risks, to reduce our environmental impact, and to make meaningful contributions to environmental causes.

Chubb has more than $174 billion in assets and reported $38 billion of gross premiums written in 2018. Chubb’s core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich and New York and employs more than 30,000 people worldwide.

Butterfield

Offering a full range of banking and investment services to Island residents

Butterfield: Bermuda’s Own Bank

Founded in Hamilton in 1858 by Bermudian merchant and statesman, The Hon. Nathaniel T. Butterfield, The Bank of N.T. Butterfield & Son Limited is better known today by its familiar name, “Butterfield.” It is Bermuda’s largest indigenous financial institution, offering a full range of banking and investment services to Island residents; both individual and corporate.

Over its 160 years in business, Butterfield has earned a reputation for friendly service and trustworthy advice. Although Butterfield has changed dramatically over the years, expanding its services and growing beyond Bermuda’s shores, its reputation for service endures and has been central to the company’s success in international markets. Today, the Bank has operations in eight countries: The Bahamas, Bermuda, the Cayman Islands, Guernsey, Jersey, Singapore, Switzerland and the United Kingdom.

Products and Services to Meet Your Needs in Bermuda

Butterfield has banking centres in Hamilton, Somerset and St. George’s, ATMs located across the Island, and advanced internet and telephone banking services, offering convenient access to funds and services. With its longstanding commitment to delivering the best in customer service, Butterfield has been the bank of choice for generations of Island residents. From foreign exchange, to chequing and savings accounts, to loans and mortgages, to the Island’s leading lineup of credit cards, Butterfield offers one of the most comprehensive packages of personal banking services in Bermuda.

In wealth management, the Bank offers a suite of investment products, self-directed and advisory brokerage and private banking services, and extensive expertise in the development of personal trusts. Utilising these services, Butterfield is able to provide long-term, multi-generation financial solutions encompassing investment advisory, wealth transfer, estate planning, and asset protection. Through its network of offices around the world, Butterfield draws upon international expertise to create tailored solutions to meet the most complex wealth management needs.

Butterfield also provides services to corporate and institutional clients, which include corporate banking and trust services, asset management and custody. The Bank’s experience in serving the needs of the insurance industry runs deep.

Community Focused

Giving back to the local communities in which it operates is a Butterfield tradition. The Bank proudly supports many local organisations that work to provide assistance, encourage progress, and enrich the lives of Bermuda’s residents.

For more information, please visit www.butterfieldgroup.com or call (441) 295 1111.

The Bank of N.T. Butterfield & Son Limited is licensed to conduct banking business by the Bermuda Monetary Authority.

Butterfield Asset Management Limited and Butterfield Trust (Bermuda) Limited are wholly owned subsidiaries of The Bank of N.T. Butterfield & Son Limited and are licensed by the Bermuda Monetary Authority, respectively, to conduct investment business and trust business.