Business

Argus Group improperly calculated the percentage of shares owned by Equilibria Capital Management in an announcement Wednesday, the insurer said in a statement on the BSX News site on Thursday.
It sai…

The RG/BSX Index was up 8.27 points (0.41 per cent) on Thursday to finish at 2048.52.
Argus Group saw 10,000 shares change hands at $6.10, up ten cents (1.7 per cent), while 1,100 Watlington Waterwork…

Bermudian-incorporated Asia Pacific Wire & Cable Corporation has reported a net profit attributable to shareholders of $20,000 for the first half of 2023, compared with a net loss of $30,000 for t…

Bermuda Compliance Consultants Ltd will be rebranded as Nascent Advisory Services Ltd, when it merges with the Nascent Group.
The Nascent Group have signed an agreement to acquire BCCL, a deal which i…

AM Best has revised the under review status to developing implications from negative implications and affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings o…

High praise for the RG’s Top Ten Employer Awards, presented by PwC, has been offered by a company that placed highly in the final standings.

The Royal Gazette has just announced the island’s leadi…

Hiscox Ltd, the Bermudian-based international specialist insurer, has agreed to sell DirectAsia, its business operations in Singapore and Thailand.
Direct Asia, which predominantly provides motor insu…

The RG/BSX Index closed on Wednesday unchanged at 2,040.24.
Some 10,500 shares in Argus Group Holdings Ltd changed hands on the Bermuda Stock Exchange. The stock closed unchanged at $6.
Five hundred s…

Walkers Bermuda has welcomed four new professionals, Trevor Goulet, Shannon Cann, Devon Luca and Elijah Pear.
“Trevor, Shannon, Devon and Elijah bring valuable expertise to our team, strengthening our…

Milaun Perott and Ryley Tannock, former recipients of the Appleby Legal Education Scholarship, have each begun a two-year legal trainee programme at the firm.
The firm said pupils receive training acr…

The Island Restaurant Group has been named the Top Employer in the 2023 RG Top Ten Employer Awards, presented by PwC in its 12th year as presenting sponsor.
IRG also won the Diversity Award, presented…

Sloane Johnson is the new interim executive director of Connectech Coding, while founder Coral Wells transitions to board chair, effective October 2.
Connectech Coding is a charity dedicated to bridgi…

AdvantageGo, the commercial re/insurance technology provider, has announced an underwriting platform partnership with Canopius, the global specialty re/insurer with an operation in Bermuda.
The London…

Champion boxer Teresa Perozzi has added another string to her bow.
Ms Perozzi, the former WBA middleweight world boxing champion, three-time fittest female cross fit competitor in Bermuda, certified s…

Bermuda’s International Business sector is being highlighted this week for its contributions to the island.
As part of the annual IB Week, the Association of Bermuda International Companies has launc…

BF&M Ltd has reported consolidated net income for the six months to June 30 of nearly $13.9 million.
The combined insurance service and net investment result was a gain of $31.3 million, driven by…

Insurance professionals must co-operate to fight cybercrime, the director-general of the Association of British Insurers has said, days after one of the worst cyberattacks in Bermuda history.
“Cybercr…

A highly anticipated Cayman Islands report is expected to reveal a sizeable number of workers being paid below-poverty wages, and less than an even lower minimum wage (about $7.20).
Recommendations fo…

Digicel Business is the official technology partner of the Butterfield Bermuda Championship for the fifth year in a row.
The PGA Tour event is scheduled for the Port Royal Golf Course, Southampton Nov…

Rawlinson & Hunter has promoted four employees, and has added an industry veteran to its staff.
Matthew Corbin, who joined the firm last September, has been promoted to head of client services.
R&…

Company veteran Matthew Smith has been appointed managing director of Arch Insurance (Bermuda), effective January 1.
The news comes less than a week after Arch announced the retirement of Tony Hay as …

Everest Insurance, the insurance division of Bermudian-based Everest Group Ltd, has launched business travel accident insurance.
The company said it is the latest enhancement to Everest’s accident and…

AM Best has upgraded the credit ratings for the members of Ally Insurance Group.
They include Motors Insurance Corporation and its reinsured subsidiaries, MIC Property and Casualty Insurance Corporati…

Bermudian-based Vantage Group Holdings Ltd has extended its contractors pollution liability and professional liability offerings to environmental contractors and consultants.
The company said the move…

Ariel Re, the global re/insurer with offices in Bermuda, London and Hong Kong, has re-launched its clean energy division as “Ariel Green”.
The company said the move recognises the increasingly crucial…

The Google undersea cable coming to Bermuda is a significant project that will bring with it many spin-offs in terms of jobs and other economic benefits, according to an adviser to the US company.
“T…

The Bermudian insurer of an American supplier of wood and wood products has been recognised for outperforming traditional markets in key metrics.
AM Best has affirmed the financial strength rating of …

This Moment of Clarity column is the fifth, and last, in our series dedicated to sharing Lessons from Lasso.
A brief recap: the first lesson was Bake Cookies for Your Boss – Share Your Authentic Self…

The board of Bermudian-based R&Q Insurance Holdings Ltd is in advanced talks with Canada’s Onex Corporation regarding the sale of Accredited, the company’s programme management business.
In a stat…

Certain subsidiaries of Bermudian-based James River Group Holdings Ltd have agreed to sell the renewal rights to their Individual Risk Workers’ Compensation business to New York-headquartered Amynta G…

The RG/BSX Index closed on Monday unchanged at 2,040.24 after a day of no trading.
Overseas, Butterfield Bank closed down eight cents (0.29 per cent) at $27.52 on the New York Stock Exchange.

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based Maxseguros EPM Ltd, the single-parent captive insurer…

Aon plc, the global professional services firm, has appointed Jake Nichols as senior managing director, global clients leader, Bermuda, within Reinsurance Solutions.
Mr Nichols, who is based on the is…

The Association of Bermuda Insurers and Reinsurers has signed an agreement with the Association of British Insurers to work together on “matters of mutual interest”.
According to an announcement from …

Google will be laying a cable between Portugal and the United States via Bermuda, bringing the island one step closer to becoming a telecommunications hub for the Atlantic.
It will be the first direc…

Louis Millar has been promoted to head of Argus Wealth Management, the Bermudian financial services company that provides a range of investment solutions.
He joined AWM in 2007 as an assistant vice-pr…

Meritus Trust Company has won the Trust Company of The Year award for mid-size firms at the 2023-24 Society of Trust and Estate Practitioners Private Client Awards at the London Hilton on Park Lane.
T…

A Bermudian technology education centre has won a top award from a British tech publication.
Corporate Vision Magazine has named Connectech Coding as Leading Providers of After-School Tech Coding Enr…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has appointed Jérôme Gossé as head of cyber insurance, Continental Europe.
He wi…

Seventeen entrepreneurs have completed the third Young Adult Entrepreneurial Internship programme presented by Ignite Bermuda.
The participants, ages 19 to 25, developed their passions for entrepreneu…

Dear readers, this is part one of four-part retrospection featuring excerpts from some key concepts out of the 1,200-plus Moneywise articles (and more than 1.4 million words) that I have written for T…

Dear Dave,
My girlfriend’s parents are divorced, and they’re both in their early seventies. We talked the other night, and she’s thinking about buying them each life insurance policies. The only cover…

Randy Rochester has been installed as the chief executive officer of Polaris Holding Company.
He officially begins in the position September 25. Since August 14, he has been working with the title of …

The RG/BSX Index closed on Friday at 2,040.24, down 77.77 points (3.67 per cent).
Some 830 shares in Bank of NT Butterfield Ltd changed hands. The stock closed at $27, down $1.45 (5.1 per cent).
For t…

Bermuda’s largest internet and cable provider One Communications Ltd has launched another share buyback offer.
In a letter to shareholders sent out this month, the telecommunications firm offered to b…

Bermudian-headquartered Relm Insurance Ltd has appointed Colin James as chief financial officer.
The company said Mr James will direct the innovative insurer’s financial goals, objectives, budgets, an…

Multiple business development opportunities will be explored during the Submarine Networks World 2023, the largest annual gathering of the global subsea communications community, September 27 and 28 a…

Military-level expertise will usher in a new era of cybersecurity services for local and international companies in Bermuda through a partnership that includes a Bermudian start-up and a Portuguese in…

The Bermuda Monetary Authority is considering embedded supervision as a way to better regulate the digital asset space.
According to BMA chief digital officer Moad Fahmi, local regulators are consider…

Occam Underwriting, which has been majority owned since 2021 by Hudson Structured Capital Management, carrying out its re/insurance business as HSCM Bermuda, is to come under new control.
Brown & …