Business

Bermudian-based Signet Jewelers Limited, the world’s largest retailer of diamond jewellery, has reported GAAP operating income of $48.4 million for the 13 weeks ended October 29.
The company said that…

The Bermuda College has taken a step toward its goal of offering locally the first two years toward an insurance or risk management qualification.
The Bermuda Insurance Institute is winding up its af…

Argus Group Holdings Limited has reported net income for the six months to September 30 of $26.3 million, compared with $8.1 million in the previous year.
Argus chief executive Alison Hill said: “The …

The Bank of NT Butterfield & Son Limited has announced that Ingrid Pierce has joined the bank’s board as an independent director, bringing the total number of directors to ten.
Ms Pierce is the gl…

The RG/BSX Index remained unchanged at 2,421.12, with no trading on the Bermuda Stock Exchange for Monday.
The Bank of N.T. Butterfield & Son Limited finished down $1.12 (3.26 per cent) for the da…

Domestic insurer BF&M Limited has reported a shareholders’ net loss of $13.4 million for the nine months ended 30 September.
This compares to shareholders’ net income for the same period in 2021 o…

Bermudian-based Athene Holding Ltd, the financial services company, has served as the lead investor in the transaction and is the majority shareholder of a new, unified fleet management business.
The …

With the World Cup heading toward its denouement, an American sports and entertainment intelligence platform has highlighted the extent of marketing support for Major League Soccer, including particip…

Bermuda, and the island’s newest luxury resort, have been nominated for prizes in the 2022 Gay Travel Awards.
Bermuda has been nominated in the “destination, island” category.
The St Regis Bermuda Res…

Darag Group, the international legacy specialist with an office in Bermuda, has announced that its German insurance carrier Darag Deutschland AG has received court approval to complete a Part VII tran…

The Bermuda Monetary Authority and two of its employees are being sued for damages of $25 million by a Delaware-domiciled company over allegations relating to its application to acquire a controlling …

A Bermuda company, Lancashire Holdings Limited, and its Bermuda insurer, are facing a negative outlook for ratings issued by credit rating agency AM Best.
Although recognising several positive attribu…

An order may be sought from the Bermuda Supreme Court over a plan by troubled crypto lender, BlockFi, to pay creditor money back and exit Chapter 11 bankruptcy protection, The Coin Republic has report…

Another market blow-up. FTX was one of the biggest cryptocurrency exchanges in the world. Founded in 2019 and based in the Bahamas. FTX specialised in derivatives, leveraged products and spot trading …

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I use a debit card for all my regular, day-to-day purchases. However, I use a credit card for plane tickets, big ticket items, or when I shop online because someone told me it’s easier to d…

Höegh LNG Partners LP has announced that Erik Nyheim has been appointed by the general partner to fill the vacancy created by the resignation of John Veech as an appointed director of the board of dir…

Sompo International Holdings Ltd, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has appointed Ron Willett as executive vice-president, field manage…

Counterpart, the Los Angeles-based management liability insurtech, has added miscellaneous professional liability insurance to its existing suite of management liability products and services availabl…

A major market for Bermuda’s reinsurers, Florida, is in danger of becoming largely uninsured if legislators there do not make the right decisions, according to one top-level British insurer.
Patrick …

Apex Group Ltd, the Bermudian-based global financial services provider, has appointed Anne Storie as country head, Cayman Islands.
Based in Grand Cayman and reporting to Georges Archibald, chief innov…

The RG/BSX Index rose 7.15 points (0.30 per cent) to finish at $2,421.12.
Argus Group Holdings shares rose 30 cents (5.5 per cent) to close at $5.75 with a volume of 5,000.
The Bank of N.T. Butterfiel…

Tax specialists Will Gay and Ze’ev Deutsch have joined Mosaic Insurance’s transactional liability team, boosting the firm’s tax-risk capability.
Based in London, Mr Gay will be head of International T…

Bermudian-based Convex Re Limited has appointed Paul Simons as deputy chief executive officer and has promoted Richard Slater to chief underwriting officer.
Both will assume their roles this month and…

The Hamilton Princess & Beach Club is calling their newest retail store the “pinnacle of high fashion”.
The hotel on Pitts Bay Road in Pembroke launched Blank Canvas this month as the final bouti…

Hurricane Ian and other extreme weather events such as the winter storms in Europe, flooding in Australia and South Africa as well as hailstorms in France and in the US resulted in an estimated $115 b…

Axis Capital Holdings Limited has announced that its environmental business unit has launched a Specialty Package Policy for manufacturers.
The SPPm policy covers a range of general and environmental …

Bermudian-headquartered Frontline Ltd, a shipping company engaged primarily in the ownership and operation of oil tankers and product tankers, has reported net income of $154.4 million for the third q…

Seadrill Ltd, the Bermudian-based offshore drilling company, has reported an operating profit of $20 million for the third quarter of the year.
The company had total operating revenues of $269 million…

Brian First has been promoted to president of Arch Insurance North America.
He was promoted from chief underwriting officer of programmes, property and specialty, and will continue to report to Matt S…

When Salon Visage moved this month, it quickly discovered that its new location at 39 Church Street had a reputation.
Different businesses, restaurants and lounges had opened and closed there over th…

AM Best has affirmed a financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Harrington Re Ltd.
AM Best has also affirmed the long-term ICR of “bbb-…

The RG/ BSX Index jumped 53.63 points (2.27 per cent) to close at 2,413.97, driven by the trading of 3,076 shares of Bank of N.T. Butterfield Ltd., which closed up a dollar (3.0 per cent) at $34 at th…

Analysts expect a strong financial year from Bermuda registered International General Insurance Co. Ltd., fuelled by factors including excellent underwriting profitability.
IGI and its subsidiaries ha…

Axa XL has promoted Kareen Richardson to head of healthcare in its Bermuda insurance excess casualty business.
Ms Richardson, who has more than 27 years of experience in the insurance industry in both…

Amid highly uncertain market conditions, rating agency AM Best said it is maintaining a stable outlook on the global reinsurance industry, as there are counterbalancing positive and negative factors.
…

Retailers threatened by the rise of e-commerce need the Christmas holiday shopping season more and more to rescue their financial year.
Increasingly, they have welcomed the added feature of the Black …

Bermuda’s entrepreneurial community has been celebrated at the annual BEDC Business Awards.
Presented by the Bermuda Economic Development Corporation, more than 100 people attended the ceremony hosted…

The RG/BSX Index rose 9.54 points (0.41 per cent) to 2,360.34, driven by the only active issue on the Bermuda Stock Exchange for the day.
Argus Group Holdings Ltd., rose 40 cents (7.9 per cent) to $5….

Conduit Re, the Class of 2020 Bermudian-based pure play treaty reinsurer, has appointed Peter Kiernan as head of property underwriting.
Mr Kiernan, currently in the role of head of US property with Ax…