Business

Savvy travellers continue to highlight Bermuda among the world’s best travel destinations.
The island was once again recognised as the number one island in the Caribbean and Atlantic Category by Condé…

The RG/BSX Index remained unchanged on Tuesday at 2457.34 in the absence of trading on the Bermuda Stock Exchange.
Meanwhile Butterfield Bank ended the day down 70 cents (1.9 per cent) on the New York…

Domestic insurer BF&M has had a little more to say about its plans for the amalgamation agreement with their once-rival Argus Group, a transaction which is expected to close in the fourth quarter …

Bermuda incorporated American Overseas Group Limited has reported consolidated net income available to common shareholders of $2.3 million, or $49.81 per diluted share, for the three months ended June…

Acrisure Re, the reinsurance division of global fintech leader Acrisure, has made Peter Sharpe the new head of the London-based specialty reinsurance team, effective Monday.
Mr Sharpe will report to D…

Bermuda Island Games is continuing to fulfil the dreams of those interested in designing video games.
Participants in an annual design competition will compete in the third edition of the event, later…

The Bermuda insurance and reinsurance market remains on a path of substantial evolution but increasing notice is being taken of the “impressive growth” in the long-term reinsurance business.
It has co…

Energy stocks have lagged behind this year’s upward-trending equity markets. Year-to-date, the MSCI World Energy Sector Index has returned only 8.25 per cent including dividends, compared with the bro…

Telecom company Paradise Mobile has been named as the fastest mobile network in Bermuda by Ookla, a global leader in connectivity intelligence and network insights.
According to a statement from Parad…

Category 4 Hurricane Helene will be one of the costliest storms in United States history with total damage and economic loss estimated to be up to $160 billion, according to forecasters AccuWeather.
M…

The killer hurricane, Helene, has been confirmed as one of the most destructive storms in US history, with a death toll approaching 100 across several states and hundreds still unaccounted for.
The As…

It has been more than four years since the Covid-19 pandemic erupted but Shannon Simons’ restaurant has still not fully recovered. Mr Simons took over Thyme in Paget in 2020. “The business is not quit…

Butterfield Bank is fighting a public-relations nightmare in the Cayman Islands after retroactive charges levied on customer accounts for unpaid government stamp duty.

Cayman Compass said a softwa…

A group established by the Government to make recommendations for what a living wage would look like is exploring the widely heralded Anker Methodology as an area for solutions.
Accepted as the gold s…

As Ascot Bermuda celebrated its 10th anniversary recently, the new man at the helm of the company declared that the best is yet to come for the global specialty insurer and reinsurer.
Justin Keith suc…

Shareholders of PSC Insurance Group Limited have agreed for the company to be acquired by The Ardonagh Group, one of the world’s largest independent insurance broking platforms, with offices in Bermud…

Dear Dave,
I follow your advice and live on a budget, but it’s really hard to save up for a down payment on a house because property is so expensive on the US West Coast. My family thinks I should buy…

Most people have incurred debt at some point, whether it be a mortgage, car loan, student loan or credit card debt. However, debt can be an issue if not managed wisely. Too much debt can be financial…

ZipX and the Bermuda Economic Development Corporation have joined forces to provide Bermudian small business owners and local entrepreneurs with a discount on their shipping costs.
BEDC-registered bu…

Bermuda’s professional organisation for accountants will partner with a training company that prepares those who want to write accounting examinations.
The announcement was made by Becker, the global …

After the social distancing of the pandemic, salon owner Akilia Darrell saw many Black clients ditch chemical hair straighteners in favour of natural growth.
However, this change was not without its c…

Global programme manager, Accredited Insurance Holdings has appointed Neil McConachie as chief risk and capital officer.
He takes office October 14, based in Accredited’s London office and reporting …

The RG/BSX Index remained unchanged at 2,510.96 after a day of no trading on the Bermuda Stock Exchange.
Butterfield Bank rose six cents (0.16 per cent) to $36.98 at the close of the New York Stock Ex…

AM Best has affirmed the financial strength ratings of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of StarStone Insurance Bermuda Ltd and its subsidiary, StarStone Insur…

Mark Flanagan has been appointed to the new role of head of Property & Casualty, Bermuda, at Axa XL.
His responsibilities include leading the Bermuda P&C underwriting team with a focus on grow…

A leading ocean and air freight rate benchmarking and market analytics platform is warning that ripple effects of strike action at ports on the US East and Gulf coasts will cause severe supply chain d…

Carey Olsen Bermuda Limited partner Steven Rees Davies has been recognised as one of Bermuda’s leading practitioners for Fintech and Blockchain by Who’s Who Legal for the second year running.
The law …

Acrisure has opened a new location in Hamilton to focus on wholesale insurance broking for its global clients.
This new capability complements current reinsurance and specialist MGA facilities and wi…

Spurred on by record sea temperatures in the Gulf of Mexico, Tropical Storm Helene this morning mushroomed into a hurricane and is expected to continue to grow into a massive storm before slamming int…

Bermuda plays a key role in closing the global insurance protection gap by boosting the overall capacity in the life insurance market, the chief risk officer at Aegon Ltd has said.
Swiss Re estimated …

New life is being breathed into a body formed to broaden Bermuda’s tax base and make the system fairer.
Its purpose was to examine the tax system and determine what could be done to ensure it is equi…

As the world enters the age of artificial intelligence, the legal profession is once again faced with balancing two crucial elements of the administration of justice: efficiency v effectiveness.
This …

The island’s largest grocery retailer, The MarketPlace, said tonight it has proactively implemented comprehensive plans to safeguard its operations and customer service in light of a potential strike …

The RG/BSX Index rose 2.15 or 0.09 per cent to close at 2510.96 today, after trading of 22,200 shares on the Bermuda Stock Exchange, valued at $332,700.
Bank of Butterfield closed unchanged at $36 aft…

Spurred on by record sea temperatures in the Gulf of Mexico, the Tropical Storm Helene this morning mushroomed into a hurricane and is expected to continue to grow into a massive storm before slamming…

Bermuda was among three countries welcomed as an associate by the Global Cross-Border Privacy Rules Forum a month ago, after the Global Forum Assembly agreed to the membership committee’s recommendati…

Exposure growth, not climate change, has been by far the biggest driver of increasing property losses, says a leading risk modeller.
Karen Clark, a pioneer in catastrophe modelling, believes her indus…

Bermuda’s reinsurers are expected to use deferred tax accounts for provisions in Bermuda’s Corporate Income Tax Act over a rolling period, a rating agency report has said.
AM Best, in a composite revi…

AM Best has affirmed the credit ratings of the operating subsidiaries of Bermudian-based Essent Group Ltd.
The ratings agency affirmed the financial strength rating of A (Excellent) and the long-term …

The RG/BSX Index remained unchanged at 2508.81 after a day of no trading on the Bermuda Stock Exchange.
Bank of Butterfield fell 21 cents (0.56 per cent) to $37.30 at the close of the New York Stock E…

Electricity provider Belco is now seeking applicants for its 2025 apprenticeship programme.
Shaun Roberts, the company’s training and development manager, said the four-year course blends overseas and…

AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb” (Good) of Bermudian-based Sura Re Ltd.
The outlook of these credit ratings is stable.
T…

Bermuda legal services firm, MJM acted as lender counsel to Starwood Property Trust and GoldenTree Asset Management on the financing of the Fairmont Southampton Hotel redevelopment.
The transaction wa…

Sun Life International has been named Bermuda’s best boss, in this year’s Royal Gazette Top 10 Employer Awards, presented by PwC.
The winners were announced today during a breakfast at the Hamilton Pr…

The absence of key components in the Bermuda Government’s “sugar tax” policy affected acceptance by the general public and limited potential health impacts.
This, from one of three published papers Th…

A wide variety of workplaces made this year’s list for The RG Top 10 Bermuda Employer’s Awards, presented by PwC.
The awards are being presented this morning at the Hamilton Princess Hotel & Beach…

Bermudian Max Tetlow is rejoining the Bermuda office of Appleby as partner.
He began his legal career with Appleby in 2014 and spent four years with the firm before moving to Australia to work for a …

Samuel Resnik has been granted the 2024 EY Bermuda Gil Tucker Scholarship.
The award is valued at up to $30,000 per year until the recipient has completed the minimum educational requirements to pursu…

A privately-owned, Bermuda-headquartered managing general underwriter has completed what they called a landmark refinancing.
The Fidelis Partnership said it marks for them a further significant milest…

Sir Charles Roxburgh KCB is to become the next chairman of Lloyd’s, the organisation has announced.
The appointment of Sir Charles, who was appointed Knight Commander of the Order of the Bath (KCB) in…