Business

Long after the anticipated return to service of a popular Washington Lane takeout restaurant, Casablanca remains shuttered, hit by an unforeseen staffing problem.
Three weeks ago, there was every atte…

Borr Drilling Limited, the Bermudian-based oilfield services company, has received a binding letter of intent for the premium jack-up drilling rig Prospector 5 from an undisclosed operator in West Afr…

As a mother and fitness instructor, Sionna Barton could see a gaping hole in children’s fitness on the island.
“There was no room for youngsters who just wanted to have recreational fun in fitness in…

Bermudian-based Teekay Corporation has reported net income attributable to shareholders of Teekay of $5.3 million in the second quarter.
That compares with a profit of $888,000 in the first quarter of…

AM Best has affirmed the financial strength rating of B+ (Good) and the long-term issuer credit rating of “bbb-” (Good) of Bermudian-based Golden Tree Reinsurance Limited.
The outlook of the credit ra…

In some ways, feeling “rich” is less about how many zeroes you have in your bank account and more about knowing how to use them to get what you want out of life.
For author and certified financial pla…

Dear Dave,
My wife and I have plans to enter the mission field as soon as we have paid off our debt and get a full emergency fund in place. We only have about $12,000 in credit card debt left, and we …

The RG/BSX Index finished 151.58 points (6.36 per cent) higher for the week at 2,382.30, after advances led gainers two to one on the Bermuda Stock Exchange.
Bank of N.T. Butterfield Ltd. (10 per cent…

Back in March 2020, Kyra-Lee Van Putten and boyfriend Jamal Woodley found themselves stranded together in Canada during the pandemic.
“It was my birthday and Jamal came up to visit me in Toronto, wher…

Rebounding tourism and strong consumer spending is keeping Bermuda’s economy moving in the right direction, according to newly released first-quarter figures.
But there were some negatives in the fina…

Giovanni Hollis, a Bermudian university student, has been awarded the 2022 BFIS CG Insurance Alan Peacock Scholarship.
The award is valued at $25,000 for two academic years, totalling $50,000.
Mr Holl…

Total business registration slipped by 0.8 per cent with 266 new businesses registered, a decline of 17.1 per cent from the previous year, according Bermuda’s newly released first quarter results.
But…

SiriusPoint Ltd, the Bermudian-headquartered global specialty re/insurer, has reported a net loss of $61 million for the second quarter of the year.
That result takes the company’s net loss for the fi…

Teekay Tankers Ltd, the Bermudian-based owner and operator of mid-sized crude oil tankers, has returned to profitability.
The company reported net income of $28.5 million in the second quarter of the …

Sarah Medeiros is the recipient of MJM Limited’s 2022 Legal Scholarship.
Ms Medeiros was awarded the scholarship to a value of $10,000 to assist with her legal studies.
The 2021 graduate of Mount Sain…

Convex Group Limited, the Bermudian-based international specialty re/insurer, has acquired a strategic 7.7 per cent share in Quotech, the underwriter-led insurtech that creates practical systems for s…

Bermudian-registered Nabors Industries Ltd has recorded a net loss from continuing operations attributable to Nabors shareholders for the second quarter of $83 million.
This compares to a loss of $184…

Bermudian-based Fidelis Insurance Holdings Limited has become a member of ClimateWise, the climate change initiative.
ClimateWise represents a global network of leading insurers, reinsurers, brokers, …

Lloyd’s has received regulatory approval from the Prudential Regulation Authority and the Financial Conduct Authority in the UK to set up a second protected cell company.
The new PCC provides a broade…

Assured Guaranty Ltd, the bond insurer based in Bermuda, has reported a net loss of $47 million for the second quarter of the year.
That result includes after-tax losses of $63 million related to fore…

Palomar Holdings Inc, the parent company for subsidiaries including island-based Palomar Specialty Reinsurance Company Bermuda Ltd, has reported net income of $14.6 million for the second quarter.
Tha…

Apex Group Ltd, the Bermudian-based global financial services provider, has closed the £1.5 billion acquisition of Sanne Group plc, a leading global provider of alternative asset and corporate service…

HSBC Bermuda said last night they will be raising their base lending rate on residential mortgages and consumer loans for the first time since 2019.
Effective October 4, they will raise their base ra…

Kim Lawrence felt an immediate sense of calm the first time she wore a malachite crystal.
“I felt at peace and it helped me tap into my purpose,“ Ms Lawrence said. ”Malachite is a deep-green stone wi…

Twelve aspiring entrepreneurs have graduated from the second Young Adult Entrepreneurial Internship programme presented by Ignite Bermuda.
The nine-week programme enabled participants, who ranged in a…

Newly released figures from PartnerRe show the company lost more than $1.1 billion in the first half of the year.
According to the latest report, the net loss was driven by unrealised losses on fixed …

Shane McDonnell is the new head of business at Digicel Bermuda, overseeing day-to-day operations, managing an expanding team of account managers and making strategic decisions related to sales and sol…

The RG/BSX Index rose 149.49 (6.69 per cent) to 2,382.30, driven higher by Bank of N.T. Butterfield Ltd, which was up $3 (10 per cent) to $33 on the trading of 689 shares.
It was countered by BF&M…

Chris Weber has commenced his role as senior vice president and chief financial officer at Valaris Limited, the Bermudian-based offshore drilling services company.
Mr Weber, who was appointed in May, …

Kiniksa Pharmaceuticals Ltd, the Bermudian-based biopharmaceutical company with a portfolio of assets designed to modulate immunological pathways across a spectrum of diseases, has reported a net loss…

The Employee Assistance Programme of Bermuda has been reaccredited by the Bermuda National Standards Committee.
EAP executive director Latisha Lister-Burgess said EAP Bermuda is the only accredited em…

Restaurateur Marico Thomas plans to double his FoodHub workforce by hiring 150 more people.
The new staff will be split among FoodHub’s new location in St George, currently under renovation, their ren…

Elbow Beach Cycles in Paget is now in the hands of Scooter Mart.
Dolores Thomas, better known as ‘Mrs T’, handed the baton to Nick Thomson at Scooter Mart at the beginning of July, after decades of cy…

Butterfield Bank’s increased interest rates on loans by half a percentage point comes with a warning that more increases are likely to come soon.
The bank absorbed a third of the 75-basis-point increa…

The leader of the OBA has warned consumers with variable interest-rate loans to brace themselves for higher payments, in light of the latest US Federal Reserve interest-rate increase.
“Overdraft fees …

The International Coaching and Leadership Institute has joined forces with Bermuda College to offer a new coach training and leadership development programme to professionals and students.
Beginning i…

Restaurateur Marico Thomas plans to double his FoodHub workforce by hiring 150 more people.
The new staff will be split among FoodHub’s new location in St George, currently under renovation, their ren…

The RG/BSX Index finished 2.09 points (0.09 per cent) higher at 2,232.82 after one issue traded.
LOM Financial Limited had 25,000 shares move, finishing 35 cents (6.8 per cent) higher at $5.50.
The B…

Seven participants in the fifth annual Summer Student Entrepreneur Programme presented by the Bermuda Economic Development Corporation have introduced their businesses to the community with a meet and…