Business

With the backdrop of global tensions and the threat of war in Ukraine, Bermuda’s financial services regulator has added three Russian nationals and five banks to the sanctions list on its website.
The…

Argo Group International Holdings, has reported a fourth quarter net loss attributable to common shareholders of $118.8 million, compared to a net loss attributable to common shareholders of $3.5 mill…

The Stationery Store and Stationery Store Plus are seeking to add more local brands to their wide selection of products – particularly those created by Black-owned businesses.
The stores said the init…

Eric Andersen, the president of Aon, will deliver a keynote address at the inaugural Bermuda Risk Summit next month.
The March 14-16 event, presented by the Bermuda Business Development Agency, is the…

BMS, the independent insurance and reinsurance broker with an office in Bermuda, has promoted Neil Prior to the newly created role of group head of environmental and social responsibility, effective i…

Bermudian-based Avance Gas Holding Ltd has reported a net profit of $32.1 million in fiscal year 2021.
That figure compares to a net profit of $70.9 million in 2020.
The company, which is engaged in t…

Valaris Limited has reported an operating loss of $24.7 million in the fourth quarter of 2021.
The Bermudian-based offshore drilling company said that compared with operating income of $3.1 million in…

Seadrill Limited, the offshore drilling company based in Bermuda, has announced that it anticipates soon emerging from chapter 11 bankruptcy, possibly as early as this week.
Seadrill’s chapter 11 plan…

One of Bermuda’s most well known advertising and publicity agencies, AAC, has rebranded as 2.0, it was announced Monday.
For many years, AAC maintained a key role in the marketing and branding of Ber…

Mark Adams has been appointed senior associate on the corporate & finance team of law firm MJM Limited.
After qualifying in England and Wales in 2002, Adams acquired extensive international experi…

The RG/BSX Index closed unchanged at 2,687.80 with only Argus Group Holdings Ltd. trading on the Bermuda Stock Exchange, closing unchanged at $6.39, after 13,103 shares changed hands.
In New York, The…

The Bermuda College will receive a $75,000 boost over three years thanks to a donation from an insurance company.
BF&M Ltd will give annual donations of $25,000 to the Bermuda College Foundation, …

A subsidiary of Bermudian-domiciled Monument Re Limited has completed the acquisition of AME Life Lux SA (Amell) from French mutual insurance group, Covéa.
The company said the deal by Luxembourg-base…

Bermudian-based SFL Corporation Ltd, one of the world’s largest ship-owning companies, has agreed to make changes to the chartering and management structure of the harsh environment jack-up drilling r…

Ariel Re, the Bermudian-based reinsurer, has partnered with charity advocate Fiona Dill to donate more than $16,000 to Bermudian families through the company’s employee giving campaign.
Ariel Re said …

A struggling bakery business has been given one last chance to make full restitution of money it owes to former employees.
Cake Shop Limited, which operates an outlet on Curving Avenue in Pembroke, is…

Fitch Ratings has maintained its negative outlook on the ratings of SiriusPoint Ltd. (SPNT).
Fitch affirmed SPNT ratings, including its BBB Long-Term Issuer Default Rating (IDR), BBB senior debt ratin…

A Bermudian-based reinsurer has played a pivotal role in helping a revolutionary new crypto wallet insurance product get to market.
Relm Insurance Ltd has provided the necessary reinsurance backing fo…

In our third instalment of addressing psychological safety and building trust in the workplace, we provide practical tips that everyone in the workforce can rally around and apply to navigate the unce…

One of the world’s largest insurance and reinsurance brokers, Aon, has joined the Association of Bermuda Insurers and Reinsurers (Abir).
The association pointed out Aon’s significant and enduring pres…

Moby-Ducks: yes, I’m talking about the ones your children and grandchildren (and maybe even you) played with in the bathtub.
In January 1992, a cargo ship, the Ever Laurel heading to the United States…

There’s an elephant in the room, or at least, in the economy: inflation. Inflation is blowing up in the headlines, causing many of us to feel a little deflated about their money. So, let’s talk about …

The RG/BSX Index finished unchanged at 2,687.80 after the continued trading in the shares of Argus Group Holdings Ltd. on the Bermuda Stock Exchange.
A further 8,000 shares changed hands, as the stock…

An American issuer of fixed index annuities has set up a reinsurer in Bermuda.
American Equity Investment Life Holding Company revealed the formation and licensing of AEL Bermuda Reinsurance Company i…

Sony’s Bermuda captive has won acknowledgement of its outstanding financial strength and credit ratings by AM Best.
The rating agency has affirmed the financial strength rating of A (Excellent) and th…

The parent company of island-based Palomar Specialty Reinsurance Company Bermuda Ltd has reported net income of $16.6 million in the fourth quarter of 2021, which contributed to full year net income o…

Renewable energy company BE Solar has experienced a bright side to the pandemic: an uptick in interest in solar energy.
“We are seeing a lot of people choosing to invest in their properties at this p…

Health Infusion Bermuda, the wellness clinic in Pembroke that was opened two years ago by sisters Bobbi and Nikki Marshall, is to close on March 27.
“The Health Infusion Team” sent an e-mail to “clien…

The RG/BSX Index rose 40.23 (1.52 per cent) to 2,687.80 after the trading of two issues on the Bermuda Stock Exchange.
Argus Group Holdings Ltd. finished unchanged at $6.39 on volume f 16,800.
Bank o…

Law firm MJM Limited has been ranked in Band 2 by the Chambers Global 2022 legal directory for its corporate and finance, and dispute resolution, practices.
The firm also has four lawyers ranked acros…

Law firm Walkers Bermuda has been ranked in three practice areas by the Chambers Global 2022 legal directory.
The firm’s corporate and finance, and insolvency and dispute resolution, practices were ra…

Law firm Appleby has been ranked in Band 1 by the Chambers Global 2022 legal directory for its Bermuda corporate and finance, insurance, and dispute resolution practices.
Appleby also has 10 lawyers r…

Sun Life International has marked its Silver Jubilee, having been established in Bermuda in 1996 a specialised business unit, focused exclusively on providing high quality offshore product solutions t…

The Supreme Court has ordered creditor meetings to consider schemes of arrangements proposed by Markel CATCo Reinsurance Fund Ltd. and CATCo Reinsurance Opportunities Fund Ltd., both provisional liqui…

Bermudian-headquartered Frontline Ltd, a shipping company engaged primarily in the ownership and operation of oil tankers and product tankers, has reported a net loss of $11.1 million for fiscal year …

Hiscox Ltd has appointed Jon Dye as UK CEO, effective in September, subject to regulatory approval.
The Bermudian-headquartered international specialist insurer said Mr Dye will be responsible for lea…

Mosaic Insurance, the Bermudian-based specialty insurer, is activating more global capacity to meet transactional liability risks, as a growing consortia of industry partners joins its syndicated capi…

Law firm Conyers has been ranked in Band 1 by the Chambers Global 2022 legal directory for its Bermuda corporate and finance, insurance, and dispute resolution practices.
“We are pleased to once again…

Golden Ocean Group Limited, a leading international dry bulk shipping company based in Bermuda, has declared its most successful fourth quarter and full year results in its quarter of a century histor…