Business

The pressure group that targeted the international specialty insurer and reinsurer Convex in London and in Bermuda has claimed victory again in its anti-coal stance aimed at the corporate world.
Marke…

After adjusting for inflation, the GDP in constant prices increased 3.6 per cent in the third quarter of 2021, reflecting encouraging signs of a rebound in economic activity, compared to 2020, a gover…

Valentine’s Day is near, reminding us of the toll taken on relationships by this pandemic, still grinding on, as everyone hopes for a return to normalcy soon.
There have been so many unanticipated lo…

Dear Dave,
We have $15,000 in credit card debt. My husband works very hard, but only makes about $25,000 a year. We’re also living in a very old trailer right now, and I stay at home with our newborn….

Government said Friday that inflation, as measured by the Consumer Price Index, rose 2.5 per cent in the twelve months to October.
A Ministry for the Cabinet Office statement said that during October …

Financial services investment holding company Somers Limited has reported a $24.4-million first quarter loss on its investment portfolio (2020: gain of $179.9 million), driving net asset value per sha…

Alexis Bean has been promoted to the position of reinsurance operations associate at Elementum (Bermuda) Ltd.
She previously held the post of reinsurance operations analyst.
Ms Bean is focused on faci…

Athene Holding Ltd, the Bermudian-based financial services company specialising in retirement solutions, has reported net income available to its common shareholders of $3.718 billion in fiscal year 2…

Essent Group Ltd, the Bermudian-based mortgage re/insurer, has reported net income of $681.8 million in fiscal year 2021.
That compares to $413 million in 2020.
The company reported net income for the…

Jason Saints has joined the Bermuda branch of Hudson Structured Capital Management as vice-president, reinsurance.
Mr Saints joins HSCM Bermuda from island-based specialty re/insurer Arch Capital Grou…

Bermudian-based Textainer Group Holdings Limited, one of the world’s largest lessors of intermodal containers, has reported net income of $273.5 million for fiscal year 2021.
That compares with net in…

Courier services are hoping they can clear the backlog of incoming parcels by this weekend after a series of aircraft breakdowns grounded several cargo shipments over the past week.
It led to an extra…

Reams of Valentine’s Day cards wax lyrical about a partner’s eyes or their smile, but what about their ability to manage their money?
“When can you ask if a potential mate is in debt? Is it okay on th…

As many as 100 of Bermuda teenagers are involved in the KPMG 17th Annual Senior School Investment Challenge, with the results for January about to follow, and the November and December results publish…

The Argus Group has launched a scholarship award in the name of veteran Bermudian insurance executive Sheila Nicoll, who retired from chairing the Argus board just last year, after 10 years in that ro…

The RG/BSX Index closed unchanged at 2,564.97 after the trading of one issue – 10,000 shares of Argus Group Holdings Ltd. which closed unchanged at $6.30.
The Bank of Butterfield closed up 24 cents (0…

Arch Capital Group Ltd has reported net income available to common shareholders of $2.09 billion for fiscal year 2021.
That compares with net income of $1.36 billion for the prior fiscal year.
The Ber…

Clay Rhoades has been named CEO of Hamilton Select Insurance Inc, a US excess and surplus lines insurer formed by Bermudian-headquartered global re/insurer Hamilton Insurance Group Ltd.
The newly-laun…

CrossTower, the crypto and digital asset exchange with an office in Bermuda, has partnered with Arabian Camels, a non-fungible token (NFT) community that is making a first-of-its-kind Hollywood movie….

Apex Group Ltd has acquired Best Alternative Advisory Services, an Indian-based, specialised financial services provider.
The Bermudian-based global financial services provider said the acquisition of…

Bermudian-based Everest Re Group Ltd, the global re/insurer, has reported net income of $1.38 billion for fiscal year 2021, representing a total shareholder return of 14.7 per cent.
That compares with…

Rosewood Bermuda has been ranked as the best hotel in Bermuda in US News and World Report’s 12th annual ranking of the best hotels on the island and beyond.
Ranked second and third are Hamilton Prince…

The RG/BSX index closed up 31.46 (1.24 per cent) for the day at 2,564.97 after three stocks traded on the Bermuda Stock Exchange.
Up 20 cents (3.3 per cent) at $6.30 at the close were shares in Argus …

HSBC Bermuda and Planet Math are launching the HSBC Youth Financial Literacy Program with 120 of Bermuda’s school students, across four middle schools.
As other schools are added, the programme will r…

Global leaders in the technology field will convene in Bermuda next month for the third annual International Technology Summit.
The March 7 to11 event is spearheaded by Penrose Partners, a Canadian an…

Tickets are now available for the annual Budget Breakfast hosted by the Bermuda Chamber of Commerce.
The event will be held via Zoom on February 28, the Monday following the delivery of the Budget Sta…

Bermudian-based Argo Group International Holdings Ltd has revealed that its fourth quarter 2021 results will be negatively affected by adverse prior year reserve development and non-operating charges….

Shyam Gidumal has been nominated to stand for election as an independent director of Bermudian-based RenaissanceRe Holdings Ltd at the company’s annual general meeting of shareholders in May, its boar…

The oil tanker company Nordic American Tankers Limited has concluded two six-year time charters for its two Suezmax newbuildings set for delivery in May and June.
The Bermudian-based company said the …

Monique White has been appointed to the position of director of human resources at Digicel Bermuda.
The company said the promotion will see Ms White oversee the day-to-day operations of the department…

Next week, business-savvy teens will get a free crash course in entrepreneurship.
The Youth Entrepreneurship Initiative, in conjunction with the Economic Development Department, will offer a mini Biz…

When Astoria Smith opened green beauty salon Lacquered Lounge, she was not nervous. She had a business degree.
“I knew what I was doing,” she said.
And when the pandemic started two months after she …

A new advocacy group for Bermuda’s captive insurance industry has emerged, with the backing of key organisations and with membership launching in April.
Notably, the new Bermuda Captive Network aims t…

Changes to the island’s anti-money laundering regulations to better police digital assets have been given the green light by the House of Assembly.
Curtis Dickinson, the Minister of Finance, said the …

The RG/BSX Index closed unchanged at 2,533.51, with no trading of domestic companies for the day on the Bermuda Stock Exchange.
The Bank of Butterfield rose 93 cents (2.44 per cent) to close at $38.97…

Bermudian lawyer Charissa Ball has returned from eight years’ practising in Hong Kong to join Carey Olsen Bermuda Limited as counsel.
The firm said Ms Ball, who was called to the Bermuda Bar in 2013, …

AM Best has assigned a financial strength rating of B++ (Good) and a long-term issuer credit rating of “bbb+” (Good) to Black Gold Re Limited (Bermuda).
The outlook assigned to these credit ratings is…

The Zest Wellness Programme, created by Coralisle Group Ltd, has been awarded a gold medal by the Wellness Council of America (Welcoa) for building a workplace culture that promotes, protects and supp…

Bermudian-based Vantage Group Holdings Ltd has received a capital commitment of up to $200 million and has made an important acquisition.
Vantage, one of Bermuda’s Class of 2020 re/insurers, said that…

DHT Holdings Inc, the Bermudian-based crude oil tanker company, has reported a net loss in fiscal year 2021 of $11.5 million.
That compares with net income of $266.3 million in 2020.
The difference be…

RiverStone International, the acquirer and reinsurer of legacy and discontinued insurance business, has launched an office on the island with the appointment of market veteran David Rocke as managing …

Two cruise ships operated by a subsidiary of Bermudian-based Genting Hong Kong Limited have been placed under arrest in the Bahamas for alleged non-payment of bills.
The Crystal Symphony and Crystal S…

An insurance executive has effectively been barred from the local insurance industry for an indefinite period.
The Bermuda Monetary Authority has banned Nicholas Mark Cooke from senior market roles an…

More than a month into the new year, Bermuda’s financial institutions are still considering what to do about replacing Libor, a major component scheduled for retirement at the end of 2021 from its use…