Business

A United Nations official has admitted scepticism that the development of a fintech industry on the island will help those Bermudians most in need.
The observation comes from a Dutch economist involve…

Bermuda requires more top drawer commercial accommodation to meet the growing demand, a partner at a leading realtor has said.
Penny MacIntyre, of Rego Sotheby’s International Realty, said: “We need c…

The largest shareholder of World on Wireless (WoW), the wireless subscription-based television business in provisional liquidation, was apparently unaware that an outside business had been lined up fo…

Investors are becoming more comfortable investing in digital assets, attendees at the third annual International Tech Summit heard.
Lawrence Newhook is the president and chief investment officer of Be…

Masqueraders of clarity are the things in our businesses and our lives that we think are clear or give us direction, but in actuality, they take us off track by wasting our energy and time, money and …

Moody’s Investors Service has upgraded the insurance financial strength (IFS) ratings of Assured Guaranty and its subsidiaries.
The upgrade reflects their improved credit profiles following the resol…

Small businesses are in a “fragile rebuilding stage” following two years of restrictions – and war in Ukraine could actually have a positive effect on Bermuda.
Those were just two of the issues explor…

He narrates his narrow escape from death matter-of-factly, almost as if it was an everyday occurrence.
His bed-and-breakfast is destroyed by artillery shelling; he is barricaded in the remnants of his…

I was blessed to grow up in a home where my siblings and I were taught wise money habits (would you really expect anything else from Dave Ramsey’s family?). And even though I didn’t always love the le…

The RG/BSX Index closed unchanged at 2,495, with no trading for the day on the Bermuda Stock Exchange.
For the week, the Index was up 32.86 (1.31 per cent) on a Bermuda share volume of 25,750 and a tu…

ASW Law has been recognised by the Chambers Global 2022 international legal directory for its Bermuda corporate and finance, insurance, and dispute resolution practices.
The firm’s corporate and finan…

Two divisions of Polaris Holding Company Ltd. today signed collective bargaining agreements (CBA) with the Bermuda Industrial Union (BIU).
It was the first signing of an agreement between the BIU and …

A London-based impact investment company that is named after one of Bermuda’s iconic beaches has announced the launch of a venture vehicle with an initial £20m of committed capital, focused on decarbo…

A local entrepreneur with a family history in waste management has launched a company to handle the island’s biohazardous material.
Donte Hunt’s new business, MediWaste, will transport, treat and disp…

Bermuda has built the ideal environment for insurtech start-ups, the chief executive officer of Bermudian-based Kettle told attendees at the Bermuda Risk Summit 2022.
Kettle spent time in the Bermuda …

The Regulatory Authority of Bermuda (Thursday night) recommended in a preliminary report that TeleBermuda International Limited (TBi) be permitted to take control of the wireless subscription-based te…

Registration has already opened for the first in-person boot-camp event since the start of the pandemic, being hosted next month by WeSpeak Bermuda, the non-profit company created by local women to co…

The RG/BSX Index closed unchanged at 2,495.00 with one issue trading on the Bermuda Stock Exchange.
Argus Group Holdings Ltd. closed unchanged at $6.40 after 25,000 shares changed hands.
The Bank of N…

A 2005 Carnegie Mellon University study found that women who initiated negotiations for higher compensation were more likely to be penalised than men.
Studies have also found that men are much more li…

Bermudian-based Signet Jewelers Limited, the world’s largest retailer of diamond jewellery, has reported annual sales growth of nearly 50 per cent as it announced fourth quarter and full-year results …

Apex Group Ltd, the Bermudian-based global financial services provider, has announced that it has offset its entire lifetime of carbon emissions, and believes it is the first company to do so in the f…

Market veteran James Ferris has been appointed to the position of director of capital and risk advisory in the Bermuda office of BMS, the independent specialist insurance and reinsurance broker.
BMS h…

Together we are stronger is the philosophy behind the BlackBiz Sip & Shop event on Saturday evening at Southside, St David’s.
BlackBiz is organised by Cyniqua Anderson of Just Dreams Events, an ev…

Outdated war exclusion policies in the insurance industry could result in billions in losses in the event of a major cyber attack.
That was the opinion of industry experts in Bridging the Cyber Covera…

Banter & Steel, the men’s apparel and lifestyle store on Reid Street in Hamilton, is to transition to an online-only business next month.
Until Saturday, in preparation for the closing of its bric…

There was no shortage of views on the war during the Bermuda Risk Summit.
Some delegates considered that a short period of hostilities would limit its affect on the insurance industry, but the longer …

One Bermuda Risk Summit panel included rating agency executives opining over insurance issues affected by the war in Ukraine.
It automatically led to consideration of the latest hot button topic in th…

The Bank of N.T. Butterfield & Son Limited announced it will not increase interest rates in response to today’s 25 basis point increase in the US Federal Funds Rate.
The base rate for Bermuda doll…

The RG/BSX Index closed at 2,495, unchanged today in the absence of any domestic company trades on the Bermuda Stock Exchange.
The Bank of Butterfield closed $1.13 (3.12 per cent) higher at $37.35 on …

The sold-out Bermuda Risk Summit 2022 was an “immense success”, the Bermuda Business Development Agency declared today.
The three day event, presented by the BDA, attracted more than 80 overseas deleg…

The risk industry was urged to lay claim to the discussion on ESG – environmental, social and governance issues.
Joseph Petrelli, the president of the financial analysis and consulting firm, Demotech,…

The life insurance industry in Bermuda is set for growth but it needs more boots on the ground.
This was the word from industry leaders in a panel on Bermuda’s role in the growing life insurance secto…

The overall performance of insurance-linked securities (ILS) funds has slipped despite another year of record cat bond issuance, according to a Best’s Special Report.
AM Best said that the global ILS …

The RG/BSX Index remained unchanged at 2,495, as there was no trading of domestic companies on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited closed unchanged at $36.22 on …

The Insurance Commissioner for the Florida Office of Insurance Regulation, David Altmaier, joined other regulatory experts from around the world on a Bermuda Risk Summit panel discussing how they bala…

Activist investor Capital Returns Management LLC has called on Argo Group International Holdings Ltd to hold its annual general meeting in May as it dismissed claims by the company that it had made si…

Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has new leadership.
Kristian Sørensen has resigned as CEO to pursue opportunities outside …

Maiden Holdings Ltd’s net profit for the year rose almost 50 per cent to $117.6 million in 2021 as its enjoyed favourable returns on its management of its assets.
The Bermudian-based holding company …

Mosaic Insurance is building out a cyber security underwriting unit in Bermuda, to align its global business strategy around the fast-growing risk.
The Bermudian-based specialty insurer said it has tr…

Bermudian-based Apex Group Ltd, the rapidly expanding global financial services provider, has expanded its digital assets capabilities with the acquisition of a majority stake in Fund Admin Chain, a d…

Only a couple of months ago, investors were hoping for an end to the pandemic. Now, the headlines are dominated by the Russian-Ukrainian war.
After months of amassing troops near the Ukrainian border…

Changes are coming to PwC.
The firm said a new strategy focuses on two interconnected needs faced by clients around the world: To build trust and deliver sustainable outcomes.
A press release said: …

Legislators will this week be asked to commit additional funding for government’s continuing work with large countries over tax and regulatory policies.
As a financial centre, Bermuda faces as many as…