Business

Clarien will adjust its Bermuda dollar base lending rate by 50 basis points (0.50 per cent) on September 1, following the US Federal Reserve rate increase on July 27, the bank has announced.
It will m…

The RG/BSX Index rose 0.91 of a point (0.04 per cent) to close at 2,456.29, after four issues traded on the Bermuda Stock Exchange.
Bank of N.T. Butterfield Ltd. was unchanged at $34 after 600 shares …

Retail sales in Bermuda continued their rebound in May, albeit slightly, increasing for the second consecutive month year-over-year, as reflected in the May 2022 Retail Sales Index.
After adjustin…

Clarien will adjust its Bermuda Dollar base lending rate by 50 basis points (0.50 per cent) September 1, following the US Federal Reserve rate increase on July 27, the bank has announced.
It will mean…

Bermuda is to be among the ports of call for the delivery trip across the Atlantic Ocean for the MSC Seascape, which has been built by Italy’s Fincantieri ship building group.
The cruise ship successf…

Bermudian-based Hoegh LNG Partners LP reported a five-fold increase in net income during the second quarter of the year compared to the prior year period.
The floating liquefied natural gas service pr…

Lombard International Group announced today that it has entered into a definitive agreement to sell its US and Bermuda business to BroadRiver Asset Management and its affiliated entities.
Lombard Inte…

Despite elevated catastrophe activity, AM Best’s composite of US and Bermudian reinsurers posted an improved underwriting margin in 2021, with a minimal number of COVID-19-related claims and larger co…

Healthcare reform in Bermuda may be up to a decade away, a veteran insurance executive has advised.
John Wight, the group chief executive officer of BF&M Limited, said that timeline is consistent …

Bermuda’s street life is filled with people lacking real identity and purpose, says hardworking plumber David Wilkinson.
He sees a study of hopelessness in some and a society trying to come to grips w…

Bermuda is featured in another Top Ten list, this time: 10 Reasons Bermuda Is the Ultimate Island Destination, the article just published Tuesday in the Leisure section of Town & Country magazine….

Beyond Cancer Ltd, the exempted company registered in Bermuda that is focused on developing ultra-high concentration nitric oxide for the treatment of solid tumours, has announced that the first patie…

The RG/BSX Index finished at 2,456.38 points, up 53.63 points (2.23 per cent).
The only active issue was Bank of N.T. Butterfield Ltd with 1,400 shares trading, and closing at $34.00, up a dollar (thr…

A former forecaster with the Bermuda Weather Service has been appointed head of catastrophe research at global specialty (re)insurer, Canopius Group.
Canopius said Geoffrey Saville will enhance the gr…

Polaris Holding Company Ltd, the parent to Hamilton docks operator Stevedoring Services Ltd and East End Asphalt Company, has reported earnings for the year to the end of March of more than a million …

The RG/BSX Index climbed 37.70 (1.59 per cent) to close at 2,401.75, buoyed by insurance stocks trading on the Bermuda Stock Exchange.
Argus Group Holdings Ltd. closed at $6.35, up a nickel (0.8 per c…

White Mountains Insurance Group, Ltd. has commenced a “modified Dutch auction” self-tender offer to purchase up to $500 million in value of its common shares, at a purchase price between $1,250 and $1…

BF&M Limited has reported shareholders’ net loss of $12.3 million for the six months ended June 30, as compared to the shareholders’ net income for the comparative period in 2021 of $14.8 million….

Aran Giffen and Salayah Stange have been selected recipients of the 2022 EY Gil Tucker Bermuda Scholarships.
The scholarship fund was created in honour of Gil Tucker, who retired in 2015 and held the …

Liberty Mutual Insurance has appointed Kevin Smith as president of Global Risk Solutions North America.
Reporting to GRS president Neeti Bhalla Johnson, Mr Smith will be accountable for delivering GRS…

Tika Gilbert has been appointed president of the Institute of Bermuda Architects.
Ms Gilbert is RIBA chartered architect, registered in the UK, Bermuda with an Int. Associate of AIA and graduate of Ki…

Three new Deloitte Bermuda partners are: Andy DeGregorio, tax & legal; Eric Wehrwein, audit & advisory; and, Ed Willmott, financial advisory.
Mr DeGregorio joined the tax practice at Deloitte …

More than two years after the world first locked down for Covid, supply-chain disruptions are still impacting the global auto industry.
Among the affected businesses are Pembroke’s Auto Solutions and …

Kroll, the international management consulting firm, is recruiting staff for a new office in Bermuda.
Registered in March, an application was made in May to the Minister of Finance for a licence to op…

The US Federal Reserve’s unprecedented tightening of monetary policy may have slowed the inflation momentum, but an economist has warned that the Fed needs to “keep the pedal to the metal”.
The latest…

The scheduled article for today was superseded by the concerning survey results conducted by Narrative Research Bermuda online from 382 adults featured on August 18 in The Royal Gazette.

The report n…

Dear Dave,
How do you know if a will or a trust is best for you?

– Monica

Dear Monica,
This is a great question, especially since August is National Make-a-Will Month in the United States. The fi…

The RG/BSX Index remained unchanged at 2,364.05 for the week with no trading activity on the Bermuda Stock Exchange at all.
The Bank of N.T. Butterfield & Son Limited finished down 10 cents (0.29 …

Stablehouse, the Bermudian-based digital assets investment platform, has announced changes to its rate structure for new and existing investors.
The company said the new rates reflect the best risk-ad…

Registration is now open for Dive In, the insurance industry’s most prominent voice for a progressive future for almost a decade.
The international festival, consisting of virtual and physical events …

Bermudian-based International General Insurance Holdings Ltd has reported a profit for the quarter ended June 30 of $21.8 million, compared to profit of $8.2 million for the prior year period.
Core op…

Axa XL, the P&C and specialty risk division of Axa SA has awarded their 2022 scholarship to University of British Columbia Sauder School of Business student Daniel Osset.
The Axa XL Scholarship is…

The RG/BSX Index remained unchanged at 2,364.05 for the day with no trading activity on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited finished up 41 cents (1.19 per cent) …

Bermuda Aviation Services Limited, trimmed total operating expenses from continuing operations by $300,000 year over year and posted a total comprehensive income of $1.2 million for the year ended Mar…

Karan Martin has taken on the role of chief operating officer at Legal & General Reinsurance, the second woman to join the senior leadership team this year.
Melody Greenslade became head of human…

Bermudian-based Mosaic Insurance is marking a milestone this week, with two new hires sharing 100th-employee honours.
Emma Denny and Derrieka Johnson have joined the specialist insurer, which launched…

Insurance industry veteran Carol Frey has joined Concert Group Holdings Inc as senior vice-president, business development, reporting to chief underwriting officer Joe Alberti.
“I’m delighted to welco…

Bermudian-based Catalina Holdings Ltd has appointed Andrew Diaz-Matos as chief commercial officer and chief legal officer reporting to group chief executive officer Ian Parker.
Catalina, an industry l…

Brad Adderley, Bermuda managing partner at law firm Appleby, is to speak at the 2022 Society of Actuaries Life Meeting next week in Chicago.
The firm said the three-day annual event, to be held from A…

A former Bermuda Monetary Authority reinsurance supervisor has risen to the top of an international reinsurer with offices in Bermuda.
Chris Killourhy has been appointed as managing director of QBE Re…

The Argus Group released its annual report for the financial year ended 31 March 2022. The report’s theme is “More Than Meets The Eye”, inviting the reader to take a closer look and learn how Argus is…