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Bermuda Flag

Bermuda's International and Local Companies and Limited Partnerships, with names beginning with F

Huge range, variety and purpose of locally incorporated offshore entities

line drawing

By Keith Archibald Forbes (see About Us) exclusively for Bermuda Online

Introduction

See 

Companies beginning with F

Note: A Work in Progress, much more to be added. Showing when incorporated in Bermuda. With incorporation dates shown the American way.

2016: Legislation, drawing upon Delaware law, has been approved by MPs in Bermuda to introduce limited liability companies (LLCs). Such vehicles would be broadly similar to Delaware LLCs.

F-Two Derivatives 9/25/2001
F B & P Co 11/27/1997
F C Service Station 2/3/2003
F I S Research 2/3/1987
F III Holdings Limited Discontinued Delaware USA 11/18/1989
F W Management Operations 1/2/1979
F & E Holdings 10/8/2001
F & M Euro Holdings 2/5/2008
F&R International 9/30/1983
F10 Holdings 1/21/2004
F2 Property Management Group 5/1/2006
F21 Global Holdings 10/30/2002
F21 Holdings 2/20/2007
F3 Diversified Managed Return Fund 3/25/2002
F900 SN47 11/1/2000
Fabasan 8/8/1983
Fabco International 12/31/1991
Fabl Air Services 6/30/2011
Fabre International 6/11/1971
FAC Re 12/27/2006
Face Value Consulting 11/19/2007
Face Value Consulting Ltd S/Q 5/21/1998
Facet Capital 3/11/1997
Facet Insurance 5/27/2005
Facielit (Bermuda) 7/29/2014
Facilities Equipment Rental 10/3/2013
Factoring Resolutions 12/21/1983
Fadesa Bermuda Holdings LP 8/6/2007
Fadex Corporation 10/11/1991
Fahan 11/9/1983
Faiella, Sarah Angelina 12/22/2010
Failte 5/7/1996
Fair Havens Christian Care Association 7/9/1987
Fair Isaac IP Associates 10/9/2007
Fair Ocean Company 6/30/1976
Fair World Tankers Co S.A 9/7/1976
Fairbairn Consolidated Trading 5/10/1994
Fairbairn Futures Trading (1992) (Bermuda) 3/20/1992
Fairbairn Futures Trading (Bermuda) 5/13/1991
Fairbairn Guaranteed Futures (Bermuda) 5/13/1991
Fairbairn Series Seven Futures Trading 5/10/1994
Fairbairn US Futures Trading (1992) (Bermuda) 3/20/1992
Fairbairn US Futures Trading (Bermuda) 5/13/1991
Fairbanks Fund Distributors 9/11/1992
Fairbanks Global Capital Fund 9/11/1992
Fairbanks Holdings 9/11/1992
Fairchild Foundation 11/28/1967
Fairchild Semiconductor (Bermuda) 8/9/2004
Faircrown Financial Group 6/6/2002
Fairex (Bermuda) 11/25/1981
Fairfax Bermuda Holdings 5/30/2013. Bermuda arm of and owned by Fairfax Financial Holdings of Toronto which was the largest shareholder in and now owns BlackBerry. The BlackBerry, pioneered in 1999, was once the dominant smartphone for on-the-go business people and other consumers before Apple's iPhone debuted in 2007.

2016. December 19. Canadian investment and insurance company Fairfax Financial Holdings Ltd has agreed to buy Allied World Assurance Company in a $4.9 billion cash and stock deal. The proposed transaction has been unanimously approved by the directors of both companies. Allied World was among a number of insurers and reinsurers formed in the immediate wake of the 9/11 attacks in the US. The company was set up in Bermuda as a joint venture between American Insurance Group, Chubb Corporation and an investment fund managed by Goldman Sachs & Co. In 2010, Allied World redomiciled from Bermuda to Switzerland, however it maintains an office in Bermuda. Globally, the company has 1,040 employees, according to a Forbes report. Two years ago, it expanded its North American insurance operations by opening a branch in Toronto. In the proposed deal, Toronto-based Fairfax will pay $54 for each Allied World share, which is about 18 per cent higher than their closing price on Friday. Allied World shareholders will receive about $10 cash and $44 of Fairfax’s stock for each share they own. Fairfax has an option to increase the cash portion up to $30 per share. Prem Watsa, chief executive officer of Fairfax, said: “We are excited to have Allied World join the Fairfax group. Allied World is a high-quality company with an excellent long-term track record and an outstanding management team led by Scott Carmilani. Allied World will operate within the Fairfax group on a decentralized basis after closing, and we are looking forward to supporting Scott and the entire team at Allied World in growing their business over the long-term.” Mr Carmilani will continue as chief executive officer of Allied World, according to a report by The Washington Post, which quoted Mr Watsa as saying Allied World “will be the largest and the best company that Fairfax has purchased in 31 years”. Meanwhile, Mr Carmilani called it a tremendous opportunity. He said: “Our shareholders are being rewarded for the strong performance of Allied World over the last ten years since going public. We are strategically aligning ourselves with Fairfax, one of the premier companies in the insurance industry which has a great track record of supporting their operating companies and creating value for shareholders. We are excited to be joining the Fairfax organisation — we share their passion for underwriting excellence and their entrepreneurial approach to growing the business with a long-term orientation. Our shareholders will benefit from Fairfax’s tremendous investment capabilities as demonstrated by its superior long-term investment track record.” He added: “The success of Fairfax’s decentralized approach in empowering their management teams to drive profitable underwriting and combining Fairfax’s investment philosophy will position us to create long-term value for shareholders. Fairfax provides a great home for Allied World to continue to build a strong business for our customers, business partners and employees.” It is intended that the transaction will be effected by way of an exchange offer, followed by a squeeze-out merger, and conclude in the second quarter of 2017. The acquisition deal is subject to a sufficient number of the outstanding Allied World shares having been tendered in the offer, approval by Allied World shareholders and, to the extent required by applicable regulations, Fairfax shareholders, approvals from applicable regulators and satisfaction of other customary closing conditions. In a statement, Allied World said its position “as a market-leading global property, casualty and specialty insurer and reinsurer, its major worldwide presence and its disciplined approach to underwriting make it a natural candidate to join Fairfax’s expanding worldwide operations”. The company said its “growing international reach is highly complementary to Fairfax’s existing worldwide operations and the acquisition further diversifies Fairfax’s group risk portfolio. In addition, Allied World will be able to leverage Fairfax’s expertise in Canada, the US and international insurance and reinsurance markets, thus enhancing Allied World’s global product offering and providing it with expanded underwriting opportunities and support”. Last year, Fairfax Financial acquired insurance and reinsurance group Brit Plc.

Fairfax Insurance 3/8/1977
Fairfax Ltd 6/10/1994
Fairfield-Maxwell Corporation 4/29/1998
Fairfield Greenwich (Bermuda) 6/13/2003
Fairfield Industries (Bermuda) 7/3/1974
Fairfield Risk Services 12/10/2007
Fairfield (Bermuda) 5/25/1957
Fairfield (Far East) 10/9/1967
Fairfield (Far East) 4/3/1970
Fairflight International 5/16/1986
Fairhaven International 7/17/1980
Fairhaven International Ltd Amalgamated 9/1/1981
Fairholme Holdings 4/8/2004
Fairisle Investments 1/4/1984
Fairisle Management 2/25/2000
Fairlane Holding International Corporation 6/7/2005
Fairline Shipping Corporation 5/5/1999
Fairline Shipping International Corporation 5/5/1999
Fairlop Company 8/5/1971
Fairmont Assurance  1/19/1975
Fairmont Aviation Company 11/6/2002
Fairmont Dubai Holdings (Bermuda) 7/10/2001
Fairmont Hotels (Bermuda) 5/21/1999
Fairmont Management 4/26/1978
Fairmont Resources 2/15/1989
Fairmont Services 2/18/1965
Fairmount  2/10/1993
Fairmount Stables 8/4/2003
Fairness Foundation 10/9/2013
Fairplay 2/17/1999
Fairtide Insurance 6/8/1994
Fairtrade Bermuda 4/26/2012
Fairview Insurance Group 10/23/2000
Fairview Terrace Holding 4/19/2000
Fairview (Bermuda) 1/6/1967
Fairwater Consulting 6/4/2014
Fairway Fund 6/30/2003
Fairway Intermediaries 7/21/1982
Fairway International Investments 12/16/2011
Fairway Management (Bermuda) 4/10/1980.
Fairway Trucking and Landscaping 3/28/2006
Fairway (Bermuda)  7/21/1982
Fairway (Captive Services) 11/4/1982
Fairwin Insurers 8/23/1994
Fairwinds Property 9/5/2014
Fairwood Holdings 8/22/1991
Fairy Isles Ltd (The) 4/29/1994
Fairylands Development Company 10/23/2003
Fairylands Upholstery Shop (The) 5/15/1984
Faith Hope & Love 7/29/2009
Falaise Ore Carriers 7/29/1959
Falbrav Fund 7/6/2004
Falciere Fund 7/8/1970
Falco Enterprises 9/10/1969
Falcon 94 4/27/1994
Falcon Aviation Management 7/23/1999
Falcon Brokerage Services 1/12/1983
Falcon Drilling (Bermuda) 7/15/1996
Falcon Holdings 3/9/1995
Falcon Insurance 10/4/1973
Falcon International Communications 9/19/1995
Falcon International Communications (Bermuda) LP 2/12/1996
Falcon Investments 12/19/2012
Falcon Jet Centre (Bermuda) 8/10/1992
Falcon Leasing Systems 4/23/2003
Falcon Oil Holdings (Bermuda) 8/8/2000
Falcon Oil International 11/24/1970
Falcon Perch LP 12/30/2014
Falcon Shipping 11/27/1987
Falcon Telecom 6/2/1998
Falcon Wings 6/28/1996
Falconbridge Collahuasi 2/9/1995
Falconbridge Explorations 7/28/1967
Falconette 9/18/1984
Falconjet Services 12/14/2007
Faldo Design (Overseas) 10/13/2004
Falja Trading 8/18/1995
Faljet Co. 10/9/1984
Fallingbrook Fund 6/7/1996
Fallingbrook Growth Fund 1/6/1997
Falls 9/11/1996
Falmouth Steamship Man'gt 11/14/1975
Falstaff Company 1/10/1973
Falvey Insurance Company 2/28/2002
Fam Holdings Company 6/19/2008
Famiglia Estates 5/22/2001
Family Asset Managers 5/12/1994
Family Care Services 4/18/1990
Family Centre (The) 8/22/2000
Family Creations 4/28/2000
Family Estates 5/14/1968
Family Fidelity Insurance 6/12/1986
Family Financial Group 5/28/1998
Family Financial Services 1/22/1999
Family Holding Company 6/4/2001
Family Holdings 12/2/2004
Family Insurance Group 5/28/1998
Family M Properties 6/29/1988
Family Medical Services 7/9/2004
Family Office Services 3/10/2010
Family Office Solutions 1/7/2013
Family Reinsurance Company 5/28/1998
Famous Rums Distribution 10/22/1976
Fanar Aviation 12/14/2004
Fangda Group 2/6/2004
Fanlin 1/12/1970
Fantasea Bermuda 9/21/1995
Fantasea Cruises 4/9/1996
   
Fermat Capital Management Connecticut-based, John Seo, managing principal.
   
Fibonacci Reinsurance 2016. Special Purpose. 

2017. January 3. Renaissance Reinsurance Ltd today has formed Fibonacci Reinsurance Ltd, a special purpose insurer domiciled in Bermuda. Fibonacci Re will provide collateralised capacity to Renaissance Reinsurance, the principal Bermuda-based reinsurance subsidiary of RenaissanceRe Holdings Fibonacci Re, which has raised $140m of capital from third party investors and RenaissanceRe Medici Fund Ltd, has issued participating notes which will be listed on the Bermuda Stock Exchange, an arrangement that enables Renaissance Reinsurance to support its clients with additional property catastrophe reinsurance capacity, the company said in a statement.

   
Fideles Insurance Bermuda June 2015. Waterloo House, 100 Pitts Bay Road, Pembroke, Bermuda HM 08. Phone (441) 279-2500. Insurance and reinsurance firm established with a massive $1.5 billion in equity. Opened its doors after a cash injection from three private equity firms — Crestview Partners, CVC Capital Partners and Pine Brook worth $650 million. The firm underwrites insurance and reinsurance business, mostly in the property, energy, marine and aviation sectors. Formed by veteran insurance chief Richard Brindle, former CEO of Bermuda-based Lancashire Holdings. His Fidelis Insurance Holdings, of which this company is a part, is a hybrid company seeking to use the best of underwriting and the hedge fund reinsurance model. Neil McConachie, also one of the founders of Lancashire, is the chief financial officer. The firm is backed by Los Angeles-based Oaktree Capital and other investors. Fidelis will underwrite both insurance and reinsurance risks, with a focus on speciality classes of business. The company will partner with Goldman Sachs’ Alternative Investment and Manager Selection (AIMS) group. So, instead of using a single asset manager in line with existing hedge fund-backed reinsurers, Fidelis will use managers to manage the cycle and match the investment strategy and income more closely with underwriting cycles and liabilities. Private-equity firms Oaktree, Crestview and Pine Brook are lined up to take 25 per cent of the common equity of Fidelis, with the balance of the $2 billion to come through two fund structures, Fidelis Investors LP and Fidelis Investors Offshore LP. Fidelis said it expected to work with asset and hedge fund managers like Blackrock, York Capital and Crabel Capital among others. Blackrock is working with Ace on ABR Re, while Blackrock has its own reinsurance vehicle. 

2015. October 27. Insurance and reinsurance firm Fidelis announced three new appointments designed to boost its underwriting capability. Nick Burkinshaw has joined the firm from Catlin in London and is the new chairman of specialty at the firm. Ben Savill is Bermuda chief executive officer, while Richard Holden will head North American underwriting. Fidelis set up earlier this year with initial capitalization of $2 billion. Fidelis group CEO Richard Brindle said: “Fidelis has made exceptional strides since launch. However, the realization of our strategy and ambitions depend on the continual enhancement of our team the appointment of exceptional underwriters who understand the cycle. “Success in today’s specialist insurance market requires innovation, a clear direction and the provision of targeted bespoke solutions. Nick, Ben and Richard have consistently marked themselves out as some of the market’s leading underwriters. They have built their reputations on challenging outdated practices and working to forge lasting relationships by providing better solutions for clients. They share our vision and aspirations for Fidelis and provide us with additional expertise to strengthen our offering and target further sectors in which we see unrealized potential. I am very pleased to welcome them to our team.” Mr Savill, formerly of Amlin Bermuda, where he led the North American unit, has more than 18 years of experience in the industry, while Mr Holden is a 14-year industry veteran and also joins Fidelis from Amlin, where he was a leading class underwriter.

 

   
   
Fidelity Advisor World Europe Fund (Bermuda) 7/31/1995
Fidelity Advisor World Funds (Bermuda) 7/31/1995
Fidelity Advisor World Global High Income Fund (Bermuda) 7/31/1995
Fidelity Advisor World Southeast Asia Fund (Bermuda) 7/31/1995
Fidelity Advisor World US Intermediate Bond Fund (Bermuda) 7/31/1995
Fidelity Advisor World US Large-Cap Stock Fund (Bermuda) 7/31/1995
Fidelity Advisor World US Treasury Money Fund (Bermuda) 7/31/1995
Fidelity Asia Partners LP 8/12/2005
Fidelity Asia Principals Fund LP 8/12/2005
Fidelity Asia Ventures Fund LP 8/12/2005
Fidelity Bermuda 10/21/1997
Fidelity Currency Funds 11/1/1991
Fidelity Defined Contributions Limited Partnership 6/29/2001
Fidelity Distributing Money Fund 11/1/1991
Fidelity Greater China Ventures Fund LP 6/28/2002
Fidelity India Shared Services Partnership 9/30/2004
Fidelity International

Fidelity office

P. O. Box HM 670, Hamilton HM CX. In Bermuda since 1969, it is the international headquarters of Boston's Fidelity Investments Ltd and its subsidiaries shown above and below. It co-ordinates corporate finance, fund treasury, legal and compliance functions  in Europe and Asia. The chairman & CEO of the parent FMR Corporation begun in 1946 by his father, was Mr. Edward Johnson III, who owns a substantial Bermuda home. The ownership structure is similar to the US domestic operation of FMR. The Johnson family has controlling interest, with the balance owned during their employment by employees. Photo by the author.

Fidelity International (Bermuda) Funds 8/30/1990
Fidelity Investments 1/10/2008
Fidelity Moto Azabu Realty 10/25/2001
Fidelity Orient Fund 3/18/1982
Fidelity Properties III Bermuda 1/10/2008
   
Fiduciary Partners Trust Company Formed 11 June 2003
   
FIL Bermuda headquartered, head office of Fidelity Worldwide Investment, responsible for coordinating the corporate finance,  fund treasury, legal and investment compliance functions. P O Box HM 670, Hamilton HM CX.
   
FIR Capital

Venture capital company that focuses its activities in Brazil. In 2007 it partnered with Draper Fisher Jurvetson, a San Francisco-based venture capital firm that backed Hotmail and Skype. 

   
First Atlantic Commerce (FAC)

Thistle House, Burnaby Street, Hamilton. Has grown from a one-man operation based in Bermuda to a truly global business serving clients across the world in the space of 13 years. The international online payment, and fraud and data management solutions provider, delivers multi-currency, payment processing and risk management solutions for internet merchants and acquiring banks around the globe. Beginning essentially as a credit card payment gateway enabling merchants to sell their goods and wares and take payments electronically, the company expanded its range of services to offering more options outside of the standard MasterCard, Visa and American Express payments to allow people in countries such as Mexico where 80 percent of the population doesn’t have a credit card, to make purchases online. FAC joined forces with Ukash in 2009 to provide its customers with alternative payment options in Europe and emerging online consumer markets from Russia to Brazil. The service enabled FAC’s merchants in the Latin American Caribbean Region, the UK and Europe to accept risk-free cash payments on their website, giving them access to new consumer markets, and allowed consumers to buy securely, anonymously and privately online. The only local PCI DCS (Payment Card Industry Data Security Standard) certified Payment Gateway in Bermuda.

2017. April 26. Bermuda-based First Atlantic Commerce (FAC) has launched a new online billing system in partnership with a firm from Costa Rica. FAC teamed up with Trambia, a Costa Rican tech firm, to introduce Fygaro — invoicing software with built-in security aimed at smaller businesses which can be used on any mobile device. Chris Burns, FAC CEO, said: “There is a real need for this kind of product in the small-to-medium enterprise market. This new tool provides customers with a way to automate functions, eliminate paper processes and get paid quicker. We are proud to be working with Trambia on this exciting new launch.” Fygaro is integrated with FAC’s payment platform to allow its customers to accept online payment in the Latin America/Caribbean region, including Panama and Bermuda, as well as in the US, Europe and Mauritius in the Indian Ocean. Trambia clients will have to open an online merchant account with one of FAC’s partner banks to take advantage of Fygaro, but do not need to have direct merchant integration with FAC, which allows for a simpler, more streamlined process. Ariel Rochwerger, CEO of Trambia, said: “Current invoicing software and other market solutions still rely heavily on user input and memory — they are complicated and require high technical knowledge. We have developed a smart, yet simple product so that users can get to their data in as little time and with as little interaction as possible. Fygaro allows clients to automate tasks like recurring billings, payment reminders and even manage inventory so they can focus on their business. We are proud to launch this product together with First Atlantic Commerce as our payment gateway platform.”

First Investors Surety Formed 1984
First Sign International Holdings C/o Butterfield Fund Services (Bermuda) Ltd
   
Flagstone Re 2017. April 12. A founder and former chairman of Bermuda reinsurer Flagstone Re has died in Canada. Mark Byrne, who cofounded Flagstone with David Brown, died in Montreal last Thursday. He was 55. Mr Byrne was involved in the island’s insurance and reinsurance business as an owner, investor and board member for many years. Mr Byrne stepped down as executive chairman of Flagstone Reinsurance Holdings in 2010, shortly after Flagstone announced it had completed a redomicile from Bermuda to Luxembourg, although the company maintained its presence on the island. He helped found Flagstone in 2005, and after stepping down as executive chairman remained a board member for a number of years. Steve Coley, Flagstone’s governance committee chairman, said at the time: “Mark and David founded Flagstone together as partners and as the company has reached a certain level of maturity. Mark recommended and the board agreed that the executive leadership of only one of the founding partners is required to take the business forward.” Flagstone Re was acquired by Validus Holdings in 2012. Mr Byrne, originally from County Wexford, Ireland, was a qualified jet pilot and flew his own private plane around the world. He also headed Bermuda Government’s Education Board for a short time in 2009, standing down after six months due to what he said was a “a lack of political will” to improve the system. In 1993 he became chairman of Haverford, a holding company for insurance interests in Bermuda and internationally. Mr Byrne also set up Longtail Aviation in 1999. A self-confessed aviation fanatic, who started out learning how to fly gliders at age of 13, Mr Byrne said in 2008: “I love to fly whenever I get the chance. I fly helicopters, light planes, gliders, everything.” Longtail Aviation has offices in Martigny, Switzerland, and Halifax, Nova Scotia, as well as its headquarters at the Longtail Hangar in Southside, St David’s. Mr Byrne is survived by his wife Rebecca, four children, Sophie, Jacqueline, Matthew and Christopher, as well as his mother, Dorothy Byrne and brothers John and Patrick.
   
Flag Telecom Holdings It filed in US Bankruptcy Court under Chapter 11. Compared to earlier, now with only a small presence in Bermuda. Nynex is the managing sponsor, providing full communications services in the northeastern USA and elsewhere globally. Other sponsors are the Dallah Al Baraka Group of Jeddah, Saudi Arabia; Marubeni Corporation of Japan; Gulf Associates Inc. of New York; Telecom Holding Co. Ltd., a wholly-owned subsidiary of Telecom Asia, the largest market-capitalized company on the stock exchange in Thailand; and The Asian Infrastructure Fund (AIF) of Hong Kong, a $1 billion fund that invests in entities engaged in developing and operating infrastructure projects in Asia. The FLAG (Fiber-optic Link Around the Globe) cable system cost $1.7 billion and entered service in November, 1997. FLAG is the first international submarine telecommunications cable to serve China. 
Fletcher International Bermuda-based hedge fund. In late 2009 bought $5 million worth of stock in the USA's Syntroleum Corp. It was reported in July 2012 that three Louisiana pension funds fear huge losses from their $100 million in investments in Fletcher Asset Management. Fletcher International is affiliated with that New York firm
Flying Lion Private jet airline, Bermuda-registered to escape taxes. Flies UK opposition politicians world-wide. Owned by millionaire Lord Ashcroft. Registered at Cedar Avenue in Hamilton. A Falcon 900EX allows its MP passengers to travel in comfort and style, with features such as supple leathers, glistening veneers and deep pile carpet as standard, according to French maker, Dassault.
Forest Laboratories

Bermuda-registered Makes Lexapro, the world's third-best selling antidepressant, sold only in the USA. Has its headquarters and almost 100% of its sales in USA but being Bermuda-registered means it can escape many US taxes via a complex, multi-national tax avoidance structure.

Forexter Trades foreign currencies in a unique way.
Forum Fund Services Offshore funds
Fortuna International Holdings C/o Butterfield Fund Services Ltd
Fortune Telecom Holdings C/o Codan Services Ltd
Forum Financial Group Fund administrators, Forum Fund Services, now owned by US financial giant Citigroup.
Foster Wheeler In February 2009 finished its relocation to Switzerland from Bermuda. In the top 100 of Federal contractors, with significant US Defense and Homeland Security contracts. In November 2000 the directors of this Clinton, New Jersey-based engineering and construction service provider approved the change of its legal domicile from Clinton, New Jersey, to Bermuda and duly re-incorporated in Bermuda, for significant tax savings. Most of its revenue and income come from outside the USA. Via its subsidiaries, it has a broad range of construction, design, engineering, manufacturing, project development, management, research and environmental services. A global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services. Serves the upstream oil and gas, LNG and gas-to-liquids, refining, petrochemicals, chemicals, power, pharmaceuticals, biotechnology and healthcare industries.
Fram Shipping Hayward Building, Hamilton. Phone 292-7495.
Franklin Drive Investors Since 4/19/2000
Franklin Holdings (Bermuda) Since 5/30/2007. Bermuda holding company, global investment vehicle and member of the New York-based D. E. Shaw Group. Recently purchased the James River Group and with a Bermuda-based reinsurance company, JRG Re
Franklyn 12/29/1998
Franklin Street Multi-Strategy Fund 7/19/2002
Franklin Street Multi-Strategy Fund LP 8/23/2002
Franklin Templeton US Government Securities II 3/19/2002
   
Frank B. Hall Asia 7/9/1981
Frank B. Hall Overseas 6/20/1975
Frank B. Hall (Bermuda) 8/26/1980
Frank B. Hall (Intl) 3/22/1974
Frank B. Hall (Underwriting Managers) 8/25/1980
   
Freescale Semiconductor Moved from Texas to Bermuda in 2006. 11/9/2006. Bermuda holding company, HQ in Austin, Texas, multinational.
Freescale Semiconductor Holdings II 11/92006. Subsidiary of above
Freescale Semiconductor Holdings III 11/9/2006. Subsidiary of above
Freescale Semiconductor Holdings IV 11/9/2006. Subsidiary of above
   
Frontier Financial Services 31 Reid Street, Hamilton HM 12. Phone 295-7653. Management consulting firm specializing in recruitment, secondment and payroll services in Bermuda. As the former, vets applications for employment including Work Permit related.
   
Frontline 2012 12/12.2011
Frontline International 12/22/1994
Frontline 6/12/1992
Frontline Ltd (Amalgamated) 4/29/1987
Frontline Management (Bermuda) 1/16/2001
Frontline Shipping 11/18/2003. P. O. Box HM 1593, Hamilton HM GX. World's largest oil tanker operator. A Bermuda-registered tanker company. It owns and operates more than 70 oil tankers and more under construction. Norwegian multi-millionaire shipping magnate John Fredriksen was chairman until he retired October 31, 2003. 

Frontline tanker

Frontline tanker

2017. May 30. Bermuda-based oil tanker operator Frontline Ltd is continuing to grow its fleet after profits plunged in the first quarter. The company announced net income of $27 million for the first three months of the year and a cash dividend of 15 cents per share. But with chief executive officer Robert Hvide Macleod citing growth opportunities in a “historically low asset price environment”, Frontline ramped up plans to boost its 55-vessel fleet. Notably it secured $221 million in financing, half each from Credit Suisse and ING, to help finance four new tankers. Frontline said boosted its growth plans by ordering two new buildings scheduled to be delivered during December 2018 and April 2019 and obtained options for two additional sister vessels scheduled to be delivered during August and November 2019 from HHI, Korea at $79.8 million per vessel. Mr Macleod said: “Notwithstanding near-term pressure on crude tanker rates, we believe the market will ultimately return to balance as demand for crude oil continues to increase and vessel scrapping will begin to offset the negative effect of new building deliveries. The recent market weakness and other factors have contributed to a historically low asset price environment that has presented us with opportunities to acquire modern tonnage at attractive prices.” Mr Macleod added that the company was divesting older vessels — it has terminated the charters for six ageing tankers, “vessels which have put pressure on our earnings lately and particularly in the first quarter”. Mr Macleod said: “As we have stated before, older vessels are increasingly difficult to trade, a fact that is amplified in a softer rate environment. In the last 12 months, we have taken steps to both grow and modernize our fleet through six resale purchases and new building contracts. We will continue to strive to create value for our shareholders by expanding our fleet through accretive transactions. Frontline has been trying to merge with another island-based tanker operator, DHT Holdings, but has been repeatedly rebuffed by the DHT board. Notwithstanding any potential outcome related to our proposal to effect a business combination with DHT, there are many opportunities to continue our strategy of fleet growth and renewal, and we are confident in our ability to execute on this strategy.” First-quarter profit plunged to $27 million from $79 million in the same period in 2016. Operating revenues dipped to $177 million — a fall of $50 million from last year’s three months. Shareholders’ equity as of March 31 this year climbed to $3.15 billion from $2.97 billion at the end of 2016.

2017. February 28. Frontline Ltd this morning reported fourth-quarter profit of $18.3 million, beating analysts’ estimates. However, Robert Hvide Macleod, the Hamilton-based oil tanker operator’s chief executive officer, predicted pressure on the rates at which the company can charter its tankers as newly built vessels come online in the industry. The company declared a dividend of 15 cents per share and shares rose 4 per cent to $7 in morning trading on the New York Stock Exchange. Frontline’s net income totaled 12 cents per share. Earnings, adjusted for non-recurring costs, came to 22 cents per share. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share. The shipping company posted revenue of $178.3 million in the period. For the year, the company reported profit of $117 million, or 75 cents per share. Revenue was reported as $592.7 million. “The improvement in crude tanker rates in the fourth quarter was attributable to seasonality as we approached winter in the Northern Hemisphere as well as a strong increase in Opec volumes ahead of the implementation of production cuts,” Mr Macleod said in Frontline’s earnings statement. “We remain of the opinion that 2017 will see pressure on freight rates as further new buildings are delivered.” Frontline proposed a merger last month with fellow Bermudian tanker operator DHT Holdings, but the stock-for-stock transaction was rejected by the DHT board. In December last year, Frontline raised $100 million through a share offering.

2017. February 10. Bermuda-based Frontline Ltd has acknowledged the decision by DHT Holdings to reject an offer to combine the crude oil tanker businesses. Frontline, which is more than twice the size of DHT in terms of market capitalisation and fleet size, had proposed to acquire all the outstanding common shares of DHT for a per-share consideration of 0.725 Frontline shares. By doing so said it would create the largest public tanker company by fleet size and market capitalisation. However, the directors of DHT, which is also domiciled in Bermuda, this week unanimously rejected the unsolicited proposal. Erik Lind, chairman of DHT said: “We believe that Frontline’s proposal substantially undervalues our company and represents an opportunistic attempt to acquire DHT at a low point in the cycle.” In response, Robert Hvide Macleod, Frontline’s chief executive officer, said: “We believe that our offer to DHT shareholders is highly compelling since it provides a meaningful upfront premium, while also giving all shareholders the opportunity to realize the full benefit of the significant synergies and attractive upside that a combined company would create.” In a statement, Frontline said the proposed offer represented a 19 per cent premium on the share price of DHT at closing on January 27. The statement added: “Rather than engaging in discussions with Frontline with the aim of achieving the highest possible offer to create maximum shareholder value, the board of directors of DHT adopted a one-year shareholder rights plan and has since continued to refuse to enter into any discussions. DHT also stated that the proposed offer represented an opportunistic attempt to acquire DHT at a low point in the cycle, which Frontline finds irrelevant given the all-share offer.” Frontline believes that combining the two companies would better position them to participate in a market recovery. Frontline has a market capitalisation of $1.15 billion, and a fleet of 59 ships, including 19 very large crude carriers, also known as VLCC. Together with its affiliates, it has already bought 15.3 million shares of DHT, representing 16.4 per cent of its outstanding common stock. DHT has a market capitalisation of $44.9 million, and a fleet of 19 VLCC and two Aframax tankers.

2017. February 8. A bid was recently made by Bermuda-based Frontline Ltd to acquire an independent crude oil tanker company less than half its size. The non-binding proposal was rejected by the directors of DHT Holdings, which is also domiciled in Bermuda. Frontline has one of the world’s largest fleets of very large crude carriers, also known as VLCC, and Suezmax tankers. It has a market capitalisation of $1.15 billion, and a fleet of 22 VLCC, 17 Suezmax tankers, and 20 smaller tankers. Its target was DHT, which has a market capitalisation of $449.4 million, and a fleet of 19 VLCC and two Aframax tankers. Frontline proposed to acquire all the outstanding common shares of DHT for a per-share consideration of 0.725 Frontline shares. Together with its affiliates, it has already bought 15.3 million shares of the smaller company, representing 16.4 per cent of its outstanding common stock. In a statement, Frontline said a business combination between itself and DHT would create the largest public tanker company by fleet size and market capitalisation. However, DHT’s directors unanimously rejected the proposal. Erik Lind, chairman of DHT, said: “We believe that Frontline’s proposal substantially undervalues our company and represents an opportunistic attempt to acquire DHT at a low point in the cycle. We are confident that DHT will generate significantly more value to shareholders as an independent company than the prospects afforded by this proposal.” The directors rejected the proposal after giving it a “comprehensive review, conducted in consultation with its financial and legal advisers,” the company said in a statement. DHT was formed in 2005 and operates through management companies in Oslo, Norway and Singapore. 

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