Business

Bermuda was formally removed from the grey list by the Council of the European Union today, as it added Anguilla, The Bahamas and Turks and Caicos Islands to the black list.
The Council said in a stat…

The man who brought Arbitrade to Bermuda is fighting two new legal challenges, both filed against him and his company and associates last week in two separate jurisdictions.
The Securities and Exchang…

A half-century-old Bermuda insurer, set up in the 1970s to finance the risks of the world’s oil companies, today faces criticism from climate activists for its backing of the most controversial new oi…

There appears to be some relief in sight for importers and eventually consumers, as there are signs that the costs of containers across major shipping routes are plunging, The Economist is reporting.
…

The RG/BSX Index jumped 131.40 (5.92 per cent) to close at 2,351.27, as one issue traded on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield Ltd. rose $2.45 (8.1 per cent) to $32.55 on BSX tra…

AltFi Capital Management Ltd. has launched AltFi Capital Opportunities Ltd., a Bermuda Professional Class B fund.
Founded and based in Bermuda, AltFi is an alternative investment manager with a speci…

Bermuda resident David Hart was still reeling on Friday, after Hurricane Ian brought catastrophic winds to his home state of Florida on Wednesday.
Mr Hart, chief executive officer of the Bermuda Busin…

A leading catastrophe modeller says Hurricane Ian’s total costs will exceed $100 billion and be the most expensive hurricane Florida has ever seen.
And the Karen Clark & Company flash estimate has…

Senator Lindsay Simmons is doing her bit for Bermuda’s economy, and health, by launching a low sugar, fruit juice business.
At Front Street eatery, Rosa’s – where she is operational manager, drink sal…

Axa XL Reinsurance has appointed industry veteran Mark Twite as chief executive officer, Bermuda.
Mr Twite is to take up his new post on Monday.
In the role, he will be responsible for the strategic g…

A KBRA rating agency report on credit risks suggests that the Federal Reserve’s “near singular focus over the near term on taming inflation runs the risk of overshooting its goal of curtailing demand,…

Planning Factory Bermuda has won a prestigious international award for its design of a bar in the global headquarters of Bacardi Limited.
The LOOP Design Awards, launched in Portugal in 2020, have hon…

The RG/BSX Index plummeted 155.53 points or 7.00 per cent for the week to 2,219.87.
With no trading on Friday on the Bermuda Stock Exchange, the dye was cast earlier in the week as Bank of N.T. Butter…

Alon Neches has been appointed president and CEO of Bermudian-based Fortitude Re.
He will also join the organisation’s board of directors.
Mr Neches succeeds James Bracken, who is stepping down to pur…

The plummeting UK pound may eventually have a beneficial impact on the cost of goods imported to Bermuda but it has not been felt yet, a leading retailer said yesterday.
Tredick Gorham, president of T…

Dianna Armstrong started her business, Make De Run Golf Shop, out of fashion frustration.
She took up golf four years ago, usually playing at Turtle Hill Golf Course at the Fairmont Southampton or th…

Buying your dream home is a huge decision in many of our financial lives. In this, the first of a five-part series in Moneywise, we take a look at what the process entails.
You’ve saved and saved – no…

The RG/BSX Index slumped 155.53 (6.55 per cent) …

Hurricane Ian, which made landfall on Florida’s Gulf Coast and has since been downgraded to a tropical storm, is expected to generate substantial economic and insured losses in affected areas, Fitch r…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has appointed Stefano Chiurlo as head of Accident & Health Europe.
He will b…

The managing partner of Carey Olsen Bermuda has expressed his delight after the law firm was a double award winner in the RG Top Ten Employer of the Year in Partnership with PwC.
Carey Olsen was named…

Adhiraj Maitra has been appointed as group head of sustainability at Canopius Group, the global specialty re/insurer with an operation on the island.
Reporting to Lindsay Astor, chief of staff and hea…

Bermuda market veteran Will Haddrell has joined Bernina Re Ltd as chief underwriting officer, head of US and Retro.
He joins from Kettle, where he served as chief underwriting officer.
Mr Haddrell, 39…

No country in the G20 is decarbonising quickly enough to maintain a safe climate, according to new analysis by professional services firm PwC.
This year’s Net Zero Economy Index shows progress on deca…

Bermuda’s reinsurers have been watching as the killer hurricane Ian marches over Florida after plunging Cuba’s entire population of 11 million people into darkness, collapsing the electrical grid and …

The golden arches have returned to Bermuda – but this time as an insurance entity rather than a place to buy a happy meal.
Fast food giant McDonald’s has moved its global insurance operation to the is…

Carey Olsen Bermuda, the law firm, has topped the charts again at the RG Top Ten Employer of the Year in Partnership with PwC.
This is the 12th year for the awards, which were presented at a breakfast…

Bermuda residents have shown increased interest in non-US major foreign currencies after the recent strengthening of the US dollar.
And the pound has taken a beating.
Late on Wednesday, one pound ster…

The RG/BSX Index closed unchanged at 2,375.41 with no trading activity on the Bermuda Stock Exchange for the day.
The Bank of N.T. Butterfield & Son Limited finished 78 cents (2.37 per cent) highe…

Bermudian-based Ascot Group has launched a miscellaneous professional liability unit to provide comprehensive coverage for a wide range of professional service industries.
Under the leadership of Todd…

Karla Thomas has joined Rawlinson & Hunter as head of risk and compliance.
She joins the firm with more than 20 years of experience in the regulatory and compliance industry, with her most recent …

ISC Group, a global business community that supports the retention and promotion of women in the insurance sector, has launched a branch in Bermuda.
With the help of their founding sponsor EY, ISC Gro…

The golden arches have returned to Bermuda – but this time as an insurance entity rather than a place to buy a happy meal.
Fast food giant McDonald’s has moved its global insurance operation to the is…

Pay at the table technology for restaurants takes another step forward with payment solutions provider goPoint Ltd., the company that brought self-service check outs and enhanced point-of-sale managem…