Business

A business set up to offer consumers low-cost products is to close next month owing to a fall in demand.
Fresh Ltd opened on Queen Street in 2022 under the motto “Fresh where low prices are the law …”…

BE Solar has completed what they called “an innovative solar panel project” at the Argus Group’s Wesley Street headquarters in Hamilton.
The company stated the 130 Aptos panel system installation is …

Bermuda’s lower income households have the least confidence in the island’s economy since consumer confidence tracking began 25 years ago.
A new survey has determined that non-Bermudian confidence is …

“… We have deluded ourselves into believing the myth that capitalism grew and prospered out of the protestant ethic of hard work and sacrifice. The fact is that capitalism was built on the exploit…

Claims for damages from Hurricane Ernesto, which hit the island as a category one storm, have not been as bad as first feared, according to insurance companies.
Ernesto brought hurricane or tropical s…

Bermuda’s reinsurance sector was a main driver as total dedicated reinsurance capital in 2023 jumped by 7 per cent to $568 billion, with an even larger increase projected for 2024, a report by AM Best…

Compre Group Holdings Ltd, the Bermudian-domiciled international legacy and reinsurance group, has completed a legacy reinsurance transaction with Accelerant, a data-driven risk exchange, following ap…

Warburg Pincus, the New York-headquartered global growth investor, has made a $100 million investment in Miami International Holdings Inc, the parent company of the Bermuda Stock Exchange.
Making the …

Ratings agency, Moody’s, has upgraded Digicel International Finance Limited corporate family rating and its senior secured bank credit facility ratings to B3, with a stable outlook.
In a statement, M…

When it comes to planning for retirement, the sooner the better is always key. The more time you plan, the better the chances of having a financially sound and comfortable retirement.
Now don’t get …

Dear Dave,
My husband lost his job four months ago, and we’re close to losing our home. I’m working three jobs trying to keep our heads above water, while he’s “waiting for the right opportunity”. I u…

The RG/BSX Index closed today unchanged at 2,410.42 after a day of no trading on the Bermuda Stock Exchange.
For the week, the Index was down 80.45 points (3.33 per cent) on share volume of 7,502 and …

Senior independent director Colin Keogh has been confirmed as interim chairman of Hiscox Ltd following the death of Jonathan Bloomer earlier this week.
Mr Bloomer, his wife Judy, and five others peris…

Bermudian-based Ascot Group, the global specialty insurance company, has launched a unified capital management platform, Leadline Capital Partners, to support its expanded third-party capital business…

An independent provider of global risk and financial advisory solutions has appointed Dylan Edward Marshall as a director at its restructuring practice in Bermuda.
Mr Marshall, who has 12 years of res…

Carey Olsen has advised Paratus Energy Services Limited, a leading energy services holding company incorporated in Bermuda, on the successful private placement of $500 million in new five-year senior …

Aegon Ltd, the Bermudian-domiciled international financial services holding company, has reported a net loss of €65 million, or approximately $72.3 million, in the first half of the year.
The company’…

Health businesses and professionals are being reminded that the deadline for written feedback on proposed regulations for high-risk health technology and health service provider licensing is September…

After conducting Bermuda’s first-ever hair follicle transplants, a local doctor predicts that having the surgery on island could boost Bermuda’s fledgeling medical tourism industry.
Kyjuan Brown of No…

Reinsurers generated returns well above the cost of capital in 2023 due to positive underwriting results, driven by repricing and portfolio de-risking, a report by ratings agency AM Best has revealed….

The RG/BSX Index remained at 2410.42 in the absence of trading on the Bermuda Stock Exchange for a second day.
Meanwhile, Butterfield Bank ended up 41 cents (1.12 per cent) on the New York Stock Excha…

BW LPG Ltd, the liquefied petroleum gas shipper, has reported a second quarter net profit after tax of $85 million, yielding an annualised return on equity of 21 per cent with $53 million free cash fl…

The family of Hiscox Group non-executive chairman, Jonathan Bloomer has confirmed the deaths of Mr Bloomer and his wide Judy, after the sinking of a luxury yacht in Italian waters Monday.
The Bloomer …

The total net asset value of investment funds in Bermuda increased by more than 3 per cent to $286.46 billion in the second quarter of the year, the Bermuda Monetary Authority has reported.
The quarte…

Axis Capital Group has appointed industry veteran Jonelle Horta as head of Cyber Resiliency Services on its Cyber Risk Advisory team.
Her previous career appointments include 12 years at Allied World …

Seven directors have been re-elected at the annual general meeting of Borr Drilling Ltd, the Bermudian-based oilfield services company.
Re-elected were Tor Olav Trøim, Alexandra Kate Blankenship, Neil…

The Bermuda captive of one of the world’s largest car manufacturers has had its excellent credit ratings affirmed by AM Best.
The Nissan Motor Corporation is the Japanese multinational automobile manu…

Local solar panel companies have been flooded with calls from people interested in solar power after Hurricane Ernesto left thousands of people in the dark.
Kristian Smith, solar concierge at Greenli…

New tax legislation is headed to the Bahamas parliament this year with regard to the new global corporate income tax, as the country remains engrossed in a public consultation on the issue that will c…

A drug-free nasal spray for personal protection against airborne allergens that was developed by a Bermudian-headquartered company has tested successfully for the absence of more than 230 prohibited s…

Flex LNG Ltd, the liquefied natural gas shipping company based in Bermuda, has reported second-quarter net income of $21.8 million, a drop from the first-quarter net income of $33.2 million.
Vessel op…

Social activist Taj Donville-Outerbridge has been named the 2024 recipient of the BF&M Post Graduate John Wight Scholarship.
The scholarship will support his pursuit of a double masters at the Lon…

Bermudian Zea Swainson is among six female students sponsored by Butterfield Bank to complete the 2024 Leadership and Entrepreneurial Accelerator Programme.
The ten-day programme, held on the Channel …

Derek Aurori has joined the US Excess Casualty team at Bermudian-based Ascot Group as vice-president for the Northeast region.
He is based in New York.
Mr Aurori moves to Ascot after nearly 10 years a…

Bob James has been appointed chief executive of Velonetic, which represents the joint ventures between DXC Technology, the International Underwriting Association and Lloyd’s.
He succeeds Chris Halbard…

Hurricane Ernesto caused an estimated $3,000 worth of damage when Category 1 winds tore a metal strip off the garage of Champs Variety Store on Dundonald Street in Hamilton.
Store owner Sharrieff Wale…

The chairman of a Bermuda-headquartered company is among the missing after the British-flagged luxury yacht, Bayesian, sank off the coast of Sicily on Monday morning, the BBC has reported.
Jonathan Bl…

With heavy hearts we are saying goodby to our best friend, close extended family member JOSEPH SHANE DESILVA or better known as Shane DeSilva. Shane…

It is with great sadness we announce the passing of JACKLYN JANE ‘JACKIE’ HAYWARD (GREGORY), beloved daughter of Harry and Winifred (Powell) Hayward…

A Graveside service for MARTHA ALBERTHA HARVEY NEE FRANCIS, loving mother of D Anthony Richardson, the late John, Leslie and Malvaine Richardson;…

It is with great sadness for the family to announce the passing of DOROTHY GEORGETTE ROBINSON, daughter of the late Bernard J (Bernie) Robinson and…

We regret to announce the passing of RONALD ‘RONNIE’ EDWARD SMITH in his 71st year of Sandys, beloved husband of Jenifer Smith; son of the late…

Appleby’s Bermuda office has concluded its first summer internship mock trial, known as a “moot court” competition, showcasing high-calibre students interested in pursuing a career in law.
Over the co…

Borr Drilling Ltd, the Bermudian-based oilfield services company, has reported second quarter net income of $31.7 million, an increase of $17.3 million or 120 per cent compared with the first quarter …

Imani Bell is the recipient of the 2024 Legal Education Scholarship awarded by MJM Ltd.
Ms Bell has been granted $15,000 to assist with her legal studies.
A recent graduate of the Bermuda High School …

The Bermuda Monetary Authority has confirmed the registration of four new insurers, taking the yearly total to 30.
The island’s financial services regulator has also registered seven intermediaries th…

David Burt, the Premier and Minister of Finance, is in Wyoming, speaking at a digital finance conference, the Wyoming Blockchain Symposium, an invitation-only event bringing together “250 leading poli…

Domestic insurer BF&M Ltd has reported net income of $7.5 million for the first half of the year.
That compares with net income for the comparative period in 2023 of $13.9 million.
The company sai…

The chairman of a Bermuda headquartered company is among the missing after the British-flagged luxury yacht, Bayesian, sank off the coast of Sicily Monday morning, the BBC has reported.
The 70 year ol…

Telecom companies have stepped in to help customers by waiving some data fees in the wake of Hurricane Ernesto.
Paradise Mobile said it was offering a free service with unlimited data for seven days, …