Business

After 32 years of running Brighton Nurseries in Devonshire, Eddie and Mandy Simas are relinquishing control of a business that has operated at the 12 Brighton Lane location since shortly after the Sec…

The US Federal Emergency Management Agency (Fema) has now secured the $450 million upper-target for its new FloodSmart Re Ltd. (Series 2022-1) catastrophe bond, Artemis has reported.
FloodSmart Re Ltd…

The RG/BSX Index closed at 2,647.57, unchanged for the day, after one issue traded on the Bermuda Stock Exchange, Argus Group Holdings Ltd., (25,200 shares) which closed unchanged at $6.39.
In New Yor…

Aircare sales consultants Reggie Weeks and Marlyn C Kelch have achieved the 2021 Linc Diamond Award for outstanding sales performance, again.
The pair were named the winners at the annual All-Star Dia…

Borr Drilling Limited, the oilfield services company, has reported a net loss of $46.1 million in the fourth quarter of 2021.
That is an increase of $13.5 million compared to the loss in the third qua…

Fintech company 24 Exchange Broker Limited has been licensed by the Bermuda Monetary Authority to begin operating as a digital asset service vendor.
The company is a new affiliate of Bermudian-based 2…

SFL Corporation Ltd, one of the world’s largest ship-owning companies, has reported a net profit of $80.1 million in the fourth quarter of 2021.
The Bermudian-based company, announcing its preliminary…

Flex LNG Ltd, the liquefied natural gas shipping company, has reported record net income of $69.4 million in the fourth quarter of 2021.
That compares with net income of $32.8 million in last year’s t…

Apex Group Ltd, the Bermudian-based global financial services provider, has been appointed to provide fund administration services to Adit Ventures’ new Irish Investment Limited Partnership fund struc…

Bermudian-based Argo Group International Holdings Ltd, an underwriter of specialty insurance products, has completed the sale of Argo Seguros Brasil S.A. to Spice Private Equity Ltd.
“The closing of t…

HSBC Bermuda will permanently shut its Church Street branch at the end of June – and until then it will be used for by-appointment safe custody services only.
HSBC said staff working at that location …

Denika Minors’ cookies are addictive.
“More than one person has said they can’t stop eating them,” said Ms Minors, owner of baked-goods business Cookieologist.
She has always baked in her spare time…

P&I Clubs will seek significant price improvements at the February 2022 renewal in response to deteriorating claims experience, said a Best’s Market Segment Report.
The move comes after the costs …

The last couple of years can be described as anything but normal.
Since early 2020, global government responses to the worldwide pandemic have ranged from extreme lockdowns to variable reopening poli…

The Supreme Court will find out Wednesday afternoon just how sweet it is, the enhanced transaction terms offered by a unit of the Markel Group to buy out retrocessional reinsurance investment funds th…

The RG/BSX Index climbed 80.46 (3.13 per cent) as 1,572 Bank of N.T. Butterfield Ltd. shares traded, and the price closing at $39.50, up $1.50 (3.9 per cent) on the day.
The bank also took advantage o…

Jean-Francois “Jeff” Bonnin has been appointed to the executive board of directors of SRT Marine Systems plc.
He took on the role on February 3.
SRT Marine Systems plc, is a global provider of next ge…

Dr Laura Murphy is the third Bermudian doctor to join Somers Medical Services Ltd at Weldon House on Victoria Street.
Owner and founder Dr Joanna Sherratt-Wyer said: “We are thrilled to announce SMSL’…

Sompo International Holdings Ltd, the Bermudian-based specialty provider of property and casualty re/insurance, announced today that New York-based Kimberly Iacocca has been promoted to senior vice-pr…

Triton International Limited, the world’s largest lessor of intermodal freight containers, has reported net income attributable to common shareholders of $484.5 million for the 2021 fiscal year.
The B…

Ardmore Shipping Corporation, the Bermudian-headquartered company that owns and operates product and chemical tankers, has reported a net loss of $38.1 million for fiscal year 2021.
That compares to a…

Bermuda Electric Light Company Limited is accepting applications for a range of company scholarships that are available to Bermudian students.
Belco said the scholarships will be awarded to prospectiv…

Bermudian-based Conduit Holdings Ltd has appointed Greg Roberts as group chief underwriting officer.
Mr Roberts, whose appointment is subject to Bermuda immigration approval, takes over the role from …

Bermuda’s re/insurance industry has been singled out for how it managed the disruption of the Covid-19 pandemic.
Praise came from Craig Redcliffe, EY partner and regional insurance leader, region of B…

At 16, Kameron Young conducted a genetic study. At 17 she spent a year in Spain becoming fluent in Spanish. At 19, she was a virtual intern with a Columbian tech company.
Now, in her first year in Que…

The Bank of N.T. Butterfield & Son Limited has declared net profits for the year to December 31 of $162.7 million ($147.2 million for 2020).
The result came after net income in the fourth quarter …

The rise of insurtech is to feature in a panel discussion at next month’s Bermuda Risk Summit presented by the Bermuda Business Development Agency.
The event, March 14-16, will be the island’s first m…

The Bermuda Captive Conference is to return to the live stage for the first time in three years.
Now in its 18th year, the BCC will take place as a hybrid event, September 12-14.
Delegates to the conf…

Bermudian-domiciled SHL Holdings Ltd is to distribute nearly $14 million to its shareholders.
SHL said it has successfully monetised its interests in real property and an option on real property in De…

Drinks giant Bacardi, the largest privately held spirits company in the world, has announced that its iconic premium rum brand will cut its greenhouse gas emissions in half from 2023.
The Bermudian-ba…

Bermudian-based Apex Group Ltd has been appointed to provide fund administration and transfer agency services by Neor Crypto Volatility Fund Ltd.
The global financial services provider said Neor is a …

Assurely of Bermuda, the insurance agency that is a wholly-owned subsidiary of insurtech company Assurely, has announced an expansion of the group’s TigerMark directors’ and officers’ insurance progra…

Corporate mergers and acquisitions reached unprecedented levels in 2021, and a just-released PwC report forecasts that 2022 will be more of the same.
The PwC report: Global M&A Industry Trends: 20…

Market volatility or teenage angst may have been what has left only one of the 17 teams in the KPMG 17th Annual Senior School Investment Challenge with the $100,000 they began with at the start of the…

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…