Business

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…

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 …