Business

In response to today’s 75 basis point increase in the target range of the US Federal Funds Rate, the Bank of N.T. Butterfield & Son Limited announced that it is adjusting its base interest rates o…

The RG/BSX Index ended the day unchanged at 2,436.96 for the sixth business day in a row, as there was no activity on the domestic board of the Bermuda Stock Exchange.
In New York, Butterfield Bank sh…

Jon Hack has been appointed non-executive chairman to the board of Triangle Life Ltd., succeeding Niall O’Hare, Triangle Life founder and CEO, who has served as chairman since the inception of the o…

The Northshore Medical Laboratory, a division of Northshore Medical and Aesthetics Center, has again been accredited by the American healthcare accreditation organisation, COLA.
Dwayne Simpson, senior…

Anita Kuchma has been appointed chief executive officer at Hamilton Select, the US excess and surplus lines insurer subsidiary to Hamilton Insurance Group, Ltd.
Hamilton Select has a Financial Streng…

Global financial services provider Apex Group Ltd. has closed on the acquisition of Implemented Investment Holdings Limited, the parent company of Implemented Investment Solutions and InvestNow.
Follo…

Bermuda reinsurer RenaissanceRe Holdings Ltd. has posted a third quarter net loss of $825.3 million.
The company said Hurricane Ian and certain other catastrophe events contributed to a $648.4 million…

Aqueelah Simmons has joined Chancery Legal Ltd. as an associate in the litigation department.
The Bermudian attorney’s main practice areas are civil and criminal litigation, family/matrimonial law, an…

Customers of HSBC Bermuda must close their safe (or safety) deposit boxes for good by the end of March, the organisation has confirmed.
A spokeswoman for HSBC said: “Periodically, HSBC Group review th…

The Regulatory Authority’s senior manager for energy will be promoted to the role of chief executive, the board of commissioners have announced — the fifth appointee in just ten years.
Abayomi Carmic…

The current make-up of the board of directors at Argo Group International Holdings Ltd is “vastly superior” to the candidates put forward by activist investors Capital Returns Management LLC, the comp…

More than 50 experts in the cyber-risk and cyber re/insurance field are to feature at the 2022 Bermuda Cyber Risk Summit to be held November 16-17.
The conference, presented by NetDiligence – the cybe…

The Bank of N.T. Butterfield & Son Limited has reported net income of $57.4 million for the third quarter of the year.
That compares to net income of $49.1 million for the previous quarter and $39…

Admission is free, but RSVP is required for entrepreneurs and business professionals at Tuesday night’s Global Entrepreneurship Week Partner launch event: An Evening with Pamela Thomas-Graham.
A part…

Gross written premium and programme fee income have risen sharply year-over-year, Bermudian-headquartered R&Q Insurance Holdings Ltd reported as it announced a performance update for its programme…

Bermuda’s pioneering place at the intersection of insurance and digital assets has been likened to the legendary coffee house where Lloyd’s of London was founded in the late 17th century.
Dan Roberts …

After starting an educational product business, Nylah Nailed It, seven months ago, Kiara Somner is now adding scavenger hunts to her offerings.
She and her four-year-old daughter Nylah Bassett, held t…

Businesses today have to be about much more than just profitability, a leading insurance executive has said.
Alison Hill, CEO of the Argus Group, was speaking as the company released its inaugural Sus…

This is the third in a series of articles about the anatomy of a mortgage contract.

Be aware that mortgage contract facts covered are generically-derived – your mortgage will be specific to your …

Dear Dave,
After hearing you talk about financial infidelity, I have to admit that I hide money from my husband. I have been setting aside money for emergencies without his knowledge. He is not terrib…

A Dutch fintech firm that is proposing to set up a top holding company in Bermuda has reported a third quarter normalised net profit of €34.5 million.
The year-to-date normalised net profit is €116.6 …

The Royal Gazette/BSX Index fell 2.3 per cent for the week to close on 2,436.96.
The Bank of NT Butterfield & Son fell $1.05, or 3 per cent, to close on $33.95, as 500 of its shares changed hands …

Harrichand Sukdeo has been appointed as a director of West Hamilton Holdings Ltd, the BSX-listed property holding company.
Mr Sukdeo, who is a vice president and chief financial officer at West Hamilt…

24 Exchange, a multi-asset class trading platform, has posted record daily foreign exchange non-deliverable forward trade volume of nearly $1.5 billion, the organisation reported.
The $1.476 billion v…

Bermuda could be a leader in the blockchain industry, but first the island needs progressive and meaningful policy, according to one tech entrepreneur newly set up in Bermuda.
Chris Christmas, founde…

A Bermudian-based organisation is showcasing its wealth of business solutions at the Butterfield Bermuda Championship, the PGA Tour event being contested at Port Royal Golf Course.
Digicel Business is…

A leading crypto lawyer has called Bermuda a “unicorn” – a rare jurisdiction that has tangible, useful digital assets legislation.
At the Bermuda Tech Summit 2022, Cal Evans, managing associate of Gr…

The Royal Gazette/Bermuda Stock Exchange Index edged down 2.68 points as Butterfield Bank’s shares slipped.
Butterfield closed down five cents to close at $33.95 on volume of 400 shares worth $13,580…

ATN International Inc, the Massachusetts-based parent company of One Communications and Fireminds, has reported a net loss of $2.8 million for the third quarter of the year.
That compares with a $2.6 …

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based NEWGT Reinsurance Company Ltd.
The outlook of these c…

An active catastrophe quarter and volatile market conditions drove a net operating loss of $205 million and a net loss of $319 million in the third quarter for Everest Re Group Ltd.
That compares with…

Bermudian Tyler Owen is to rejoin the Bermuda professional lines team at Axa XL as SVP, product line leader, the company announced.
Mr Owen, whose appointment is effective on Monday, will report to Ax…

After a three-year hiatus, Gary Harris will be back at Appleby Bermuda on Monday, as an insurance partner.
Mr Harris joins Appleby from Fortitude Re where he was head of legal and compliance in Bermud…

Arch Capital Group Ltd booked a $550 million net loss from catastrophes, but still managed to report net income available to common shareholders of $6.9 million in the third quarter.
That result compa…

Axis Capital Holdings Limited has reported a net loss attributable to common shareholders of $17 million and operating income of $3 million in the third quarter.
That compares with net income of $47 m…

The Washington Mall’s 50th anniversary on November 3 feels particularly poignant to the building’s longest-running tenants who have made it through Covid-19 – one of the worst retailing periods in Be…

The Bermuda Stock Exchange ended unchanged today at 2439.64.
Meanwhile, Butterfield fell 9 cents (0.26 per cent) to $34.60 at close of day trading on the New York Stock Exchange.

There are digital assets coming in the future that could make life easier for the ordinary citizen by lowering mortgage rates, and making it easier to start a business.
That was the message from David…