Business

Enstar Group Limited, the global insurance group based in Bermuda, has reported consolidated net earnings of $437 million for fiscal year 2021.
That compares to consolidated net earnings of $1.7 billi…

A Bermudian mother-daughter duo could soon see their vegan hair care products on shelves at Target, one of the largest big box stores in the US.
But Gina Spence, and her daughter, Isis Benjamin, need…

Dire warnings from the Fiscal Responsibility Panel highlight Bermuda’s troubled economy, noting how imported inflation is squeezing household incomes.
Their seventh annual report observes how the impa…

The RG/BSX Index remained unchanged at 2,674.67 in the absence of trading on the Bermuda Stock Exchange domestic board.
In New York, The Bank of N.T. Butterfield & Son Limited finished at $38.80, …

A Black former Belco employee of 43 years was yesterday honoured for his work modernising the company.
Belco paid tribute to the late Nolan Leroy Smith, an electrical engineer who helped build the com…

On the same day that it emerged from a chapter 11 bankruptcy process, Bermudian-based offshore drilling company Seadrill Limited has reported a net profit of $18 million in the second half of 2021.
Th…

Bermudian-based energy outfit Höegh LNG Partners LP has reported net income of $16.2 million in the fourth quarter of 2021.
That compares with net income of $18.5 million in the fourth quarter of 2020…

Bacardi, the drinks giant based in Bermuda, has achieved the internationally-recognised “Great Place to Work” certification at its 23 production sites across 10 countries worldwide.
The company’s glob…

An air importer that sparked a flurry of complaints this month over poor service has been put on notice of a formal complaint after another missed flight.
Canadian-based Cargojet, which specialises in…

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…