Business

Lawyer Max Quin is retiring from LOM Financial, having served as an independent director on the company’s board for 13 years.
LOM said today Mr Quin has brought a wealth of expertise in international …

California wildfires torched the first quarter underwriting performance of Bermudian-based reinsurer, RenaissanceRe, leaving available net income for common shareholders at $161.1 million (2024 Q1: $3…

The Government Employee Health Insurance plan has increased its scrutiny of high-cost prescriptions in an effort to save money.
On March 3, GEHI sent a letter to 7,000 clients announcing tighter cont…

Butterfield Bank has declared net income of $53.8 million, or $1.23 per share, in the first quarter of the year ending March 31, compared to $59.6 million, or $1.34 per diluted common share, for the p…

The main building of the historic Elbow Beach Hotel in Paget, which has stood vacant since the resort’s closure in early 2020, is poised for major redevelopment under its new ownership by The Loren Gr…

Bermuda has signed a cross-border data agreement with the National Privacy Commission in the Philippines.
The action expanded the countries’ networks of international data partnerships to strengthen …

Global economic uncertainty is on the rise following the United States’ imposition of sweeping new tariffs, with Peak Re, a Hong Kong-based reinsurer, projecting a potential dip in global GDP growth t…

Appleby Hong Kong has acted as Bermuda counsel to China Everbright Water, relating to the Chinese environmental protection firm’s registration of debt financing instruments in the National Association…

A mega maritime merger is becoming a reality as one of the largest diversified listed maritime groups in the world is being created out of two Bermuda shipping giants.
Approved by both company boards,…

Some American companies are engaging in price gouging with local retailers ahead of the anticipated surcharge on Chinese goods coming to the island but shipped through the United States.
President Don…

Conyers has announced a series of promotions within its Bermuda office for 2025.
William Cooper and Davina Hargun have been promoted to directors. Mr Cooper, who joined Conyers as a pupil in 2014 and …

Bermuda will host UK investor, former C-suite executive and Dragon’s Den star Jenny Campbell.
Ms Campbell will deliver the keynote address at the Women Mean Business: Level Up event in June.
Women Me…

Aspiring and established entrepreneurs are invited to mix, mingle and exchange ideas at Cocktails with Creators: Spring Garden Edition, a free networking event sponsored by the Bermuda Economic Develo…

Conduit Re, the Bermuda-based reinsurer, has announced a leadership transition with Nick Pritchard appointed as interim chief underwriting officer, following the departure of Gregory Roberts. Mr Rober…

The Association of Bermuda International Companies has received a record 140 applications for its 2025 Education Awards, which the organisation said reflects increased interest among Bermudians in pur…

Markel Insurance has split its US and Bermuda operations into two divisions.
The changes follow the appointment of Simon Wilson as chief executive officer of Markel Insurance in March and are part of …

Cambridge Beaches Resort & Spa exceeded its revenue and occupancy goals during the first quarter of the year, and is expecting an even better second quarter.
However, as booking season heats up, …

Now’s the time to take advantage of rates as low as 6.25%

From rising costs to economic uncertainty, everyone is feeling the financial pinch these days. Looking for a way to lower your monthly ex…

Two employees at Auto Solutions have been recognised among the best service advisers across the Caribbean region by Suzuki.
David Furtado and Esther Bascome were named Suzuki’s Top Service Advisers f…

Bermuda Electric Light Company has launched an ebilling campaign to get more customers signed up for electronic billing.
The campaign starting today in celebration of Earth Day, culminates in a draw f…

Travellers between Bermuda and the US now have another direct route to choose from, as BermudAir launched nonstop weekly flights to Charleston, South Carolina, over the Easter weekend.
The new Saturd…

Overseas declarations are still on the rise according to the latest Retail Sales Index figures.
Overseas declarations were up 25.8 per cent in December, compared to December 2023.
One of the busiest…

Inflation ticked higher to year’s end, as consumers paid 2.1 per cent more in December than they did a year before for a selected basket of goods and services.
The latest Consumer Price Index figures …

Dear Sir,
Can anyone shed light on how this building at the Foot of the Lane (East Broadway) is allowed to remain in this deplorable condition, especially since it is at the front door to our city?
It…

Mozart Insurance Ltd, a Class 3A insurer, has had its Financial Strength Rating of B++ (Good) and Long-Term Issuer Credit Rating of “bbb” (Good) affirmed by AM Best. The outlook for both ratings remai…

One of the first insurtech companies to open a physical presence on the island, seven years ago this month, begins this week apparently without a Bermuda underwriter, after the second of two left last…

A new initiative aimed at supporting tech founders of Caribbean descent is inviting Bermudian entrepreneurs to join its first cohort.

The Caribbean Venture Collective, launched in March, is offeri…

With summer tourism heating up, tour operators are hitting the roads, only to be slowed down by terrible road conditions.
Dexter Swan, logistics co-ordinator at Social Cycles on Parsons Road, Pembrok…

​The Ministry of Home Affairs has launched a public survey aimed at gathering residents’ views on affordability as it prepares for a major Cost of Living Summit in 2025.
The survey is part of a wider …

A number of years ago, I remember reading articles about a concept called “Feed the Pig”. The idea is specifically designed to help children to develop healthy money-related habits and to learn about …

Proponents of an advocacy organisation established in 2022 believes “the adoption of stablecoins is critical” over the next 12 months, as the island pushes forward with its digital transformation.
Kev…

Thirty local vendors gathered at O’Hara House recently for a pre-Easter Vendor Market hosted by Axa XL.
The event, which was previously held in 2023, is the brainchild of Axa XL professional lines ass…

There was no trading activity on the Bermuda Stock Exchange today, leaving the RG/BSX Index unchanged at 2,563.99. With no trading, the index also remained unchanged for the week.
Butterfield rose 25 …

Proposed tariffs in America on imported medications are cause for worry in Bermuda, the head of the Bermuda Health Council has said.
BHC chief executive Ricky Brathwaite told The Royal Gazette: “While…

Acrisure Re has appointed Roman Romeo as president and head of its Bermuda operations, as the global reinsurance broker looks to strengthen its presence on the island.
Mr Romeo, who took up the post o…

Specialty reinsurer Compre Group Holdings Ltd has finalised its acquisition of the CSE Group, a US subsidiary of French mutual insurance group Covéa.​
The CSE Group consists of two California-domicile…

Africa Specialty Risks has appointed industry veteran Trevor Oates as its new head of reinsurance.
In his new role, Mr Oates will be responsible for ceded reinsurance purchasing across the ASR group, …

Businesses from around the island will showcase their wares tomorrow in Pembroke.
More than 20 entrepreneurs and businesses are set for sales at the headquarters of Liberty Group, which owns Belco, th…

When Tomei Swan and Jaylen Ever formed boutique dessert company MLK & HNY, they pledged to be environmentally friendly.
Since their soft launch last August, that has been a challenge.
“Sustainabil…

BermudAir’s new, twice-weekly direct service between the island and the North Carolina state capital, Raleigh, will run on Mondays and Fridays, using a 70-seat Embraer E175 aircraft, targeting both we…

The Personal Information Protection Act 2016 came into full force and effect on 1 January 2025. Bermuda organisations that use personal information must now maintain compliance with Pipa to protect th…

Vantage Group Holdings Ltd, the Bermudian-based specialty insurer and reinsurer, has appointed Natalie Yuen as vice president and west region distribution leader.
In her new role, Ms Yuen will be resp…

Bermudian-headquartered Gold Reserve Ltd is contesting a US court-appointed recommendation to designate Red Tree Investments as the lead bidder in the sale of Citgo Petroleum Corp’s parent company, PD…

The Port Royal Esso station has reopened after a three-month closure.
The facility on Middle Road, Southampton closed for renovations at the beginning of the year and reopened this week.
In January, C…

Insurance-linked securities manager Nephila Capital has promoted Mark Richardson to head of underwriting.
Mr Richardson joined the firm in 2023 as a senior underwriter and will now take the lead on un…

BermudAir has improved its digital booking platform, with online opportunities for prospective visitors to arrange other parts of their Bermuda holiday.
The carrier said BermudAir Holidays was: “unvei…

A local cancer organisation is closely tracking American plans to tax imported medications.
US president Donald Trump has said tariffs on imported pharmaceutical goods would be coming soon, to force …

The Office of the Privacy Commissioner is inviting organisations that champion emerging technologies and innovations using personal information to participate in its sandbox programme.
The Privacy In…

Specialty insurer and reinsurer SiriusPoint has partnered with Irwin Siegel Agency, a New York managing general underwriter, to launch a new casualty and excess insurance programme targeting human an…

The RG/BSX Index remained at 2,563.99, in the absence of any trading on the Bermuda Stock Exchange.
Meanwhile, Butterfield Bank closed up 75 cents (2.10 per cent) ending at $36.42 on the New York Stoc…