Business

Dear Dave,
I’m single, and I make $35,000 a year. Next year, my salary and bonuses should be around $50,000. I have a little over $30,000 in debt right now, including student loans, and I’m not sure h…

Gallagher Re has joined the Association of Bermuda Insurers and Reinsurers and EY as headline sponsors of the second annual Bermuda Risk Summit presented by the Bermuda Business Development Agency.
Ad…

Bermuda Island Games, the indie game studio, is to offer a six-week course for anyone wishing to learn Adobe Photoshop, Adobe Illustrator and Blender.
The organisation has partnered with Warwick Acade…

There are a few things about The Music Box on Church Street that are missed by the average Hamilton shopper.
Long-time operators Helena and Geneveve Escolastica took over a decade ago when founder Edd…

Bermudian-based Aspen Insurance Holdings Limited has become a signatory of the United Nations-supported Principles for Responsible Investment.
An investor initiative in partnership with the UN Environ…

The RG/BSX Index closed unchanged on Thursday, at 2,231.95, for the third day in a row, as no trades were recorded on the Bermuda Stock Exchange.
Overseas, Butterfield Bank closed up 88 cents (2.72 pe…

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has made two acquisitions that add title insurance and settlement services to its business operations.
The company has entered into an agree…

Vantage Group Holdings Ltd, which is based in Bermuda, has appointed John Flannery as chief marketing and communications officer.
Mr Flannery will be based in New York and report to Greg Hendrick, Van…

Gwen’s Wonderland Nursery & Preschool in Hamilton Parish has closed after 44 years of caring for Bermuda’s children.
Owner Shanda Duncan shut the Radnor Road business on December 30.
“We have prob…

The US Federal Reserve believes it is winning the battle against inflation, but Wednesday imposed yet another hike to the Federal Funds rate – this time a smaller increase of a quarter-percentage-poin…

The RG/BSX Index closed unchanged on Wednesday, at 2,231.95, as no trades were recorded on the Bermuda Stock Exchange.
Overseas, Butterfield Bank closed up 37 cents (1.16 per cent) at $32.33 on the Ne…

BM Corporate Services Ltd and Cohort Limited have merged to operate under the name Cohort Limited.
Cohort’s chief executive officer, Marco Montarsolo said the aim of the merger is to provide a wider a…

A former resident of Bermuda has been appointed chief financial officer at Axa XL Canada.
Patrick Lee, who is based in Toronto, joins Canada’s executive leadership team.
Country manager Renato Rodrigu…

The directors of international financial services company, LOM Financial Limited, has authorised management to purchase up to 500,000 of its shares for cancellation, at a price to be determined, under…

Jonathan Casey has joined the litigation team in the Bermuda office of international law firm Conyers.
Mr Casey, who joins as an associate, is a specialist in family and matrimonial law and has been h…

Axa XL has appointed Diego Cerquenich as senior risk consultant, marine, UK & Lloyd’s.
Captain Cerquenich will work with the marine underwriting team to further develop risk consultancy capabiliti…

Drinks giant Bacardi Limited is celebrating its 161st anniversary by planting 100 cedar trees in Riddell’s Bay Gardens and Nature Reserve to help protect the biodiversity of the island.
The plantings …

A strong fourth quarter could not overcome the impact of weather-related large losses over the course of the year as Bermudian-based RenaissanceRe Holdings Ltd reported a net loss attributable to comm…

Forming a radio station used to involve finding investors, buying expensive equipment and applying for a licence from the government.
These days all you need is a computer and the right software.
Th…

Chubb has reported record investment returns and excellent underwriting contributed to the company’s best financial year ever.
It included a fourth quarter net income of $1.31 billion and core operati…

Nippon Life Insurance Company, the Osaka-based organisation that is the largest Japanese life insurance company by revenue, has agreed to invest an additional $1 billion in Resolution Life, the Bermud…

Bermudian-based International General Insurance Holdings Ltd has repurchased 2,271,775 common shares in a privately-negotiated transaction.
The shares were repurchased at a price of $8.60 per share, f…

Chubb has reported record investment returns and excellent underwriting contributed to the company’s best financial year ever.
It included a fourth quarter net income of $1.31 billion and core operati…

Nippon Life Insurance Company, the Osaka-based organisation that is the largest Japanese life insurance company by revenue, has agreed to invest an additional commitment of $1 billion in Resolution Li…

Recent cyber-risk transference by re/insurers to the capital markets through insurance-linked securities issuances led to a cat bond listing on the Bermuda Stock Exchange – the market’s first cyber ca…

SiriusPoint Ltd, the global specialty re/insurer based in Bermuda, has appointed Trecia Sigle as global head of claims effective February 6.
Ms Sigle will be responsible for the overall management and…

Everest Insurance, the insurance division of Bermudian-based Everest Re Group Ltd, has expanded into the Spanish market.
The move follows the receipt of regulatory approval from the relevant authoriti…

AM Best has withdrawn the financial strength rating of A+ (Superior) and the long-term issuer credit rating of “aa-” (Superior) of XL Select Insurance Company.
The Connecticut-based company was recent…

Borr Drilling Limited, the Bermudian-based oilfield services company, has updated its preliminary revenue and operating expense guidance for 2022 and 2023.
For 2022, Borr expects to record revenues of…

Bermudian-based International General Insurance Holdings Ltd has repurchased 2,271,775 common shares in a privately-negotiated transaction.
The shares were repurchased at a price of $8.60 per share, f…

With the cost of groceries inching ever higher in Bermuda, people are desperate for a good deal.
Since opening bulk store Cost Cutters in St David’s last August, Joe and Maria DeMello have attracted b…

Danielle Riviere, a highly accomplished consultant, advocate and leader joins the Bermuda Chamber of Commerce as the new CEO, effective tomorrow.
Nathan Kowalski, BCC chairman, said: “The board sub-co…

The RG/BSX Index closed on Monday at 2,229.94, down 43.25 points (1.90 per cent) on the day.
Some 6,264 shares changed hands for a volume of $189,937 on the Bermuda Stock Exchange.
A total of 6,154 sh…

The Bermuda Economic Development Corporation is to hold a small business expo on February 11 at Willowbank Resort in Somerset.
The event, which runs from 11am until 4pm, will host 22 businesses and or…

Beyond Cancer Ltd, an exempted company registered in Bermuda, has appointed Gavin Choy as chief operating officer
Beyond Cancer, an affiliate of Beyond Air Inc, is a development-stage biopharmaceutica…

Aspen Insurance Holdings Limited, the Bermudian-based company, has announced that Mike Duffy has been appointed to the Aspen Managing Agency Limited and Aspen Insurance UK Limited boards, effective Fe…

The Bermuda International Long Term Insurers and Reinsurers organisation is encouraging young Bermudians who are interested in a career in the life and annuities industry to apply for its summer inter…

Specialty insurer Relm Insurance Ltd has announced the expansion of its strategic fronting partnership with Trisura Specialty Insurance Company, enabling the Bermudian-domiciled carrier to provide cap…

Insurance veteran Lauren Dieterich has joined Arch Insurance North America as chief operating officer.
She reports to Brian First, president of Arch Insurance North America, and will be a member of th…

The Bermuda Chamber of Commerce said today that Danielle Riviere, a highly accomplished consultant, advocate and leader, will be joining the Chamber as the new CEO, effective this Wednesday, February …

Bermuda’s oldest construction material supply company is sitting on 1 million cubic yards of provable reserves of limestone aggregate but has been denied planning permission to dig it out, its owner s…

A second supplier of materials to the construction industry is to increase the prices it charges for ready-mix concrete and concrete block.
Mike Bierman, the owner of Bierman Concrete Products Ltd, sa…

A special report from global professional services firm, Aon plc, warns: “There is no greater volatility we face – collectively – than the impacts of climate change.
“Mitigating and in some cases adap…

The Association of Bermuda International Companies recently hosted a well-attended presentation by a team from the Registrar of Companies on issues of interest to the international business community….

Conduit Holdings Limited, the parent company of Conduit Re, the pure-play global reinsurer based in Bermuda, has reported a strong start to the reinsurer’s renewal season including a huge growth to it…

Bermuda islanders have been and are still seriously challenged by global inflationary forces beyond our control, as are communities in our neighbouring countries coping with highest inflation in deca…

Dear Dave,
Earlier this month, my husband and I both were laid off from our jobs within a few days of each other. The layoffs were not our fault. The company is letting several people go as a cost-cut…

The RG/BSX Index finished the week 36.46 points (1.60 per cent) lower, dragged down by Bank of N.T. Butterfield Ltd. which fell 85 cents (2.7 per cent) for the week on a volume of 380 shares trading o…

Jane Walker has returned to Appleby as senior associate, one of two new hires just announced by the law firm.
Also new to the Bermuda office is associate Hailee Forde from New Zealand.
Ms Walker bega…