Royal Gazette

The Government tonight said that Bermuda-licensed digital asset companies that were customers of a New York bank shut down by regulators on Sunday were still able to carry on business with a bridge ba…

The RG/BSX Index closed on Monday unchanged at 2,428.06 after a day of no trading on the Bermuda Stock Exchange.
Overseas, the Bank of N T Butterfield & Son Ltd closed down $2.09 (6.95 per cent) a…

Allied World Bermuda has promoted 14 employees, with Colm Singleton, company head,saying they are being recognised for their contributions to the company.
He said: “Allied World has a fantastic team i…

Toby Mason has been appointed chief operating officer at the Bermuda Monetary Authority.
Posting on his LinkedIn account at the beginning of last week, Mr Mason said: “I’m delighted to be at the end o…

Uncertainty seems to surround the future of Bermuda’s fintech aspirations, and the Opposition One Bermuda Alliance this afternoon began asking questions following the latest blow to Bermuda’s fintech …

Butterfield Bank clawed back early losses in its share price today as banking stocks continued to struggle in the wake of the collapse of Silicon Valley Bank and Signature Bank.
Butterfield shares dr…

A fintech company with operations in Bermuda is among the beneficiaries of a move by the US government and American banking regulators to guarantee to cover all deposits in California’s Silicon Valley…

Michelle Cardwell has been re-elected as chair of the Institute of Directors, Bermuda Branch after an agm earlier this month.
She is joined by treasurer Megan Nesbitt and secretary Susie Tindall.
New …

Butterfield Group moved today to clarify that it has no direct banking relationships with the cryptocurrency sector or the venture capital firms that fund them.
Butterfield made the statement in the …

NEW YORK (AP) — The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems i…

WILMINGTON, Delaware (AP) — Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about th…

Global interest rates to combat inflation have now reached a level not seen since the height of 2007, meaning that savings rates and money market mutual funds dividends are increasing, also.
No doubt…

Dear Dave,
How do you handle a situation where someone needs financial help, but has misspent money you have given them in the past? My wife and I have been trying to help a young man we recently met…

Butterfield Group shares plunged a further $2.71 or 8.26 per cent on the New York Stock Exchange as US banking stocks continued to retreat today.
The Bank’s shares closed at $30.09 on volume of 1,022…

Relm Insurance Ltd, the pioneering specialty carrier domiciled in Bermuda, has entered into a strategic partnership with NetDiligence, the cyber risk management firm.
Relm, which serves innovative ind…

Bermuda’s most coveted employer awards are now open to entries.
The 2023 RG Business Top Ten Employers Awards Presented by PwC encourages organisations and companies from all industries to participate…

Planet Math will partner with the Bermuda International Long Term Insurers and Reinsurers organisation on Tuesday to celebrate Pi Day with the island’s primary students.
Biltir said Planet Math has pl…

College students and recent graduates considering career possibilities within the insurance industry can now apply for summer internships with CG Insurance.
The in-person programme introduces successf…

When it comes to climate change, hurricanes are a problem, but humans are a bigger one, a risk expert said at the 2023 Bermuda Risk Summit.
In the Future of Risk Panel on Wednesday, Tom Johansmeyer, …

Butterfield Bank shares plunged $2.42, or almost 7 per cent, on the New York Stock Exchange today on heavy volume of 290,000 shares.
The bank’s share price tumbled with the rest of the banking sector…

Reinsurance is in a stable place right now despite some major challenges, according to Tony Diodato, ratings agency AM Best managing director of reinsurance.
Speaking at AM Best’s Insurance Market Bri…

The short-term economic impact of the Bermuda Risk Summit has been estimated at $1.8 million, the Bermuda Business Development Agency has reported.
The event, held Monday through Wednesday at the Hami…

A new chapter has begun for the buzzing kitchen at the Ocean View Golf Course clubhouse in Devonshire.
This week, The Factory BDA is holding its grand opening, which kicked off in style with a ribbon …

Clarien Bank Ltd has launched a new international equity fund with a focus on companies engaged in sustainable development.
The bank said the fund seeks to generate strong financial returns for client…

Mosaic Insurance has appointed Jennifer Zhu of Golden Gate Capital to its board of directors.
She joins six other directors of the company, including board chairwoman Caroline Foulger, who took up the…

A former finance minister of Mauritius has been appointed to a leadership position at Apex Group Ltd, the Bermudian-based global financial services provider.
The company said Rama Sithanen will take o…

Bermuda’s financial services regulator has played a pivotal role in the growth of the legacy solutions sector on the island, a panellist told an international audience on Wednesday at the Bermuda Risk…

The Bermuda Stock Exchange today took part in the World Federation of Exchanges’ ninth annual “Ring the Bell for Gender Equality” Campaign for International Women’s Day.
The BSX hosted its bell ringin…

There has been “quiet” growth in both the casualty and speciality lines of the insurance industry, as Bermuda has matured out of its traditional catastrophe reinsurance focus, said Christian Dunleavy,…

Michelle Moloney, chief risk officer at Pacific Life Reinsurance, last night welcomed proposed enhancements to the regulatory regime for life reinsurance, but joked that she had to “think a little mor…

Aspen Insurance Holdings Limited has appointed David Altmaier to its board as a non-executive director, subject to receipt of any required regulatory approvals.
Mr Altmaier was previously the commissi…

Robert Childs is to retire as chairman and step down from the board of Hiscox Ltd, the Bermudian-based international specialist insurer.
The company said he will step away during 2023.
Mr Childs joine…

ReFlex Solutions Ltd, an independent reinsurance brokerage, has launched today with operations in Bermuda and with near term plans for expansion into London and the US.
The new Bermudian-based busines…

Bermuda has a lot to offer, but is not getting its story out to Silicon Valley, an insurance industry leader told the Bermuda Risk Summit 2023.
Scott Frederick, managing partner of Sands Capital Ventu…

Ariel Re, the Bermudian-based global reinsurance business, has secured $270 million of capital from five new institutional and family office investors to support growth opportunities in 2023.
The comp…

Apex Group Ltd, the Bermudian-based global financial services provider, has successfully closed the acquisition of a Brazilian fund administrator.
Apex said its purchase of BRL Trust DTVM had receive…

Conduit Re, the reinsurance company based in Bermuda, has appointed Mario Binetti in the new role of head of casualty.
Mr Binetti joins Conduit from BMS Re, where he was head of casualty treaty and ac…

Nicolas Burnet has been appointed as the new chief financial officer at Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance.
Mr Burne…

Roberto Ramirez Laverde has been appointed to the post of global SVP, Bacardi Rum.
He takes on an open role following the promotion of Ned Duggan to global chief marketing officer of Bacardi and presi…

Vicki Steele has been appointed as the new chief operating officer of One Communications.
The company said Ms Steele brings a wealth of experience to her new role, having held the position of chief fi…

SiriusPoint Ltd, the Bermudian-headquartered global specialty re/insurer and Arcadian Risk Capital Ltd, the island-based managing general agent, have extended their multi-year partnership through 202…

New climate-related disclosure rules to be released by the US Securities and Exchange Commission next month are leaving people “scratching their heads”, according to Jeff Palmadesso, EY Americas insur…

Russia’s invasion of Ukraine last February was quickly followed by a sharp decrease in organised ransomware attacks worldwide, a leading expert revealed at the second annual Bermuda Risk Summit.
Yosha…

The Royal Gazette/BSX Index closed unchanged, for a second day, at 2,453.69 yesterday.
Butterfield Bank was unchanged at $35 on volume of 500 shares worth $17,500 on the Bermuda Stock Exchange.
On th…

The Argus Group hosted a series of race-related educational events for its employees in recognition of Black History Month.
The company’s efforts during the month of February aimed to raise awareness …

The Bermuda insurance market has demonstrated its resilience in recent years while weathering $100 billion of catastrophe claims, the global pandemic and soaring inflation and interest rates.
Having …

The Royal Gazette/BSX Index closed unchanged at 2,453.69 today.
Five hundred Argus Group Holdings shares changed hands for a turnover of $2,850 on the Bermuda Stock Exchange, closing unchanged at $5.7…

More can and must be done to close the racial income gap in Bermuda, David Burt,tThe Premier, said at the Bermuda Risk Summit 2023.
Speaking during the 2023 Diversity Equity and Inclusion Bermuda Trai…

AM Best has affirmed Bermudian-based Coralisle Group Ltd’s financial strength rating of “A” (Excellent) and its long term issuer credit rating of “a” (Excellent) for the group’s life/health, property/…