Business

The Royal Gazette/BSX Index jumped 86.72 (3.50 per cent) higher to 2,565.74 for the day, powered by trading of Bank of N.T. Butterfield Ltd., up $1.75 (five per cent) to $37 on a volume of 5,687.
Also…

Industry veteran Simon Johnson has been appointed president and chief executive officer of Seadrill Limited, the offshore drilling company based in Bermuda.
Mr Johnson replaces Stuart Jackson in the r…

The cash consideration for the sale of Bermudian-based reinsurer Partner Re Ltd to French mutual insurer Covéa is to increase by $328 million.
Sellers Exor, the diversified holding company controlled …

One of the world’s leading financial services providers, Credit Suisse Group, says it has lost a Bermuda Supreme Court battle that could cost it half-a-billion dollars.
Credit Suisse Group said it bel…

Clare Marshall and Karen Brine – International Sterling Society
Fiona Hatfield and Sarah Faiella – International Diamond Society
Angela Hanwell, Rochelle Swan and Tab Froud – International President’s…

An organisation set up to promote racial equality in the world of big business tonight held its first live networking event.
More than 150 Black professionals attended the Association for Corporate Ra…

The Royal Gazette/BSX Index closed unchanged at 2,479.03 for the day on the Bermuda Stock Exchange.
In the only trade of the day, Bermuda Aviation Services closed unchanged at $1.25 after 10,000 share…

New insurance fronting business Concert Group Holdings has appointed Sam LaDuca as chief actuary.
Starting April 1, LaDuca will report to Bermudian chief executive officer and founder Jonathan Reiss.
…

Called to the Bermuda Bar in November 2021, Ojeda Smith has joined Appleby’s legal trainee programme and begins her first seat with the firm’s insurance department.
Smith said: “It is an honour to be …

Bermudian-based oil tanker company, Nordic American Tankers Ltd looks set to appoint a woman as a member of its board for the first time.
The organisation said American Jenny Chu will be suggested to …

The Lido Complex on the Elbow Beach Hotel property has reopened after closing for a short period during the winter months.
The popular Sea Breeze Lounge & Terrace is now open for lunch, dinner and…

Strategic Risk Solutions, the world’s largest independent insurance company manager, continued its growth trajectory in 2021.
SRS said it participated in the Business Insurance survey of captive manag…

The Lloyd’s market made a strong return to profitability in 2021 with an overall profit of £2.3 billion and a combined ratio of 93.5 per cent.
Calling the announcement “the best quality result reporte…

Apex Group Ltd, the Bermudian-based global financial services provider, has appointed Krishna Prasad as head of US.
Based in Apex’s New York offices, the company said, Mr Prasad will report to Georges…

Aon has appointed Mike Merlo as its claims leader for the United States and Bermuda.
In his new role, Aon said, Mr Merlo will work with the firm’s claims leaders across all product lines to ensure tha…

The Bermuda Supreme Court is about to enter a half a billion dollar judgment against Credit Suisse Group, in a long-running court case involving a former prime minister of Georgia over hundreds of mil…

The digital assets sector will not escape regulation and taxation, a panellist at the third annual International Tech Summit in Bermuda told attendees.
Carol Pepper is the founder and chief executive …

A world-renowned tech expert has applauded Bermuda’s 2018 Digital Assets Business Act, calling it “well thought out”, “high-quality” and “comprehensive” regulation.
Tom Ilube, chief executive officer…

Bermuda has long been recognised as a jurisdiction where custodians of traditional assets can thrive.
We think that the same is true for digital assets and that the digital asset custodian industry in…

Digicel Business Bermuda has announced a partnership with Hubbcat, an industry leader in business-critical, secure communication solutions.
Co-founded by a former Bermuda resident, Hubbcat was integra…

The RG/BSX Index fell 15.98 points (0.64 per cent) to close at 2,479.03, as BF&M Ltd. fell $1.75 (8.0 per cent) to close at $20 on a volume of 3,650 on the Bermuda Stock Exchange.
The Bank of N.T….

Buckle, a digital financial services company for the gig economy, has completed a $15-million upsizing of its term loan with participation from Siguler Guff & Company LP along with existing lender…

Apex Group Ltd, the Bermudian-based global financial services provider, has been appointed by Israeli-headquartered OurCrowd, a global venture capital investment platform, to provide fund services.
Fo…

Bermudian-headquartered global specialty re/insurer SiriusPoint Ltd has announced a strategic partnership in Players Health, an amateur sports insurance and risk management platform.
SiriusPoint said …

When Malika Serrar first moved to Bermuda from Canada, she was shocked by the price of a haircut.
“I went to one place and they charged me $200 for a wash, cut and blow dry,” she said. “I was really s…

The allegation by a US Congressman that “several million dollars has been routed through nonprofit organisations in Bermuda” in a Russian disinformation scheme to promote fracking in the US (Tuesday M…

The RG/BSX Index closed at 2,495, unchanged, after a day of no trading activity on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited closed up a penny (0.03 per cent) at $37.1…

Economic investment opportunities created by the Bermuda Business Development Agency in 2021 included 13 economic investment certificate applications approved for a total investment of $236 million, t…

LOM Financial Limited’s net profit for the year doubled to $9,510,119 as it enjoyed favourable returns on securities that the company owned.
In a letter to shareholders, chairman and CEO Scott Lines s…

Bermudian-headquartered Nephila Holdings Ltd has sold its interest in award-winning international MGA platform Volante Global to fintech company Acrisure.
Nephila, a subsidiary of Markel Corporation, …

Atlanta-based insurtech start-up Layr, has raised $10 million in a Series A funding round led by HSCM Ventures, the venture capital arm of Hudson Structured Capital Management Ltd, doing its re/insura…

RenaissanceRe has appointed long-time staff member Cathal Carr to the position of senior vice-president underwriting and global head of climate and sustainability strategy in Dublin, Ireland.
He has s…

The RG/BSX Index remained unchanged at 2,495.00 after an all quiet day on the Bermuda Stock Exchange for domestic companies.
The Bank of N.T. Butterfield & Son Limited closed down four cents (0.11…

Bermudian-based non-profits are being used as part of a disinformation campaign by Russian president Vladimir Putin that targets the American energy industry, a US Congressman has claimed.
Mark Green,…

Island Boat Club, Bermuda’s luxury boat membership programme, has increased the size of its fleet to four boats.
The club has added a 21-foot dual console Robalo to its offering, with an eight-person …

Insurers and reinsurers could face claims as high as $10 billion in a worst-case scenario due to the grounding of planes in Russia, Fitch Ratings says.
More than 500 planes that are financed or owned…

Registration is now open for the Island Finance Forum 2022, the annual event that brings together senior financiers, development partners and regulators to share and exchange expertise on sustainable …

Bermudian-domiciled Xceedance and New York City-headquartered Ultimate Risk Solutions have entered into a partnership to deliver enterprise risk management modelling and actuarial and analytics servic…

Caroline Foulger has been named as the next chair of Ocean Wilsons Holdings Limited, it was announced today.
Ocean Wilsons Holdings is an investment company based in Bermuda. Through its subsidiary it…

Sompo International, the Bermudian-based global re/insurer, has announced that Christian Silies has joined the company’s reinsurance platform as head of global marine and energy.
Mr Silies will be bas…