Royal Gazette

The Bermuda Stock Exchange was unchanged yesterday, at 2,172.53, as no shares changed hands in Bermuda.
On the New York Stock Exchange, The Bank of NT Butterfield and Son closed at $29.02 down 54 cent…

PartnerRe Ltd today reported a net loss attributable to common shareholder of $539 million for the first quarter of 2022, compared to a net loss of $66 million for the same period last year.
PartnerRe…

The difference between actual and insured losses around the world could widen from $1.4 trillion in 2020 to $1.8 trillion by 2025, with the Asia-Pacific region accounting for almost half of all uninsu…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of four subsidiaries of Bermudian-based Convex Group Limited.
Island-bas…

Somers Limited has reported a net loss of $46.9 million for the second quarter of its fiscal year as the company was buffeted by the severe downturn in global investment markets.
The Bermudian-based …

Rebecca H Tadikonda has been appointed executive vice president, strategy and innovation at Bermudian-based Athene Holding Ltd.
Ms Tadikonda was formerly executive vice president, head of MetLife Hold…

Bermudian-based Convex Group’s net loss narrowed from $179 million to $158 million in fiscal year 2021 as its gross written premiums nearly doubled, the international specialty re/insurer said.
Conv…

Bill Calko wants to put the word out that he services Kias and Hyundais. It is not because business is slow at Rev Automotive Ltd in Southampton.
“I am actually quite busy,” the mechanic said.
It is…

The Bermuda Tourism Authority is studying an economic impact report from last October’s PGA Butterfield Bermuda Championship.
The report lays out economic benefits from the professional golf event hel…

The RG/BSX Index fell 163.31 points (6.99 per cent) to finish at $2,172.53 driven by a $3 drop in Butterfield Bank shares, which closed at $30 on volume of 8,605 shares.
Argus Group Holdings fell 10 c…

Tax justice campaigners have cited the US as the worst offender for countries helping individuals hide their wealth from the rule of law.
For the first time ever, the Tax Justice Network put the US at…

Carmen Trott has been promoted to principal engineer at iEPC Limited, the Bermudian-based engineering company announced today.
In her new role, Ms Trott will be responsible for managing the entire tea…

Sid Sankaran has resigned as chairman and chief executive officer of SiriusPoint Ltd, the international specialty re/insurer headquartered in Bermuda.
The company said he is to “pursue other opportuni…

Bermudian-based Apex Group Ltd, the global financial services provider, has announced the planned acquisition of the fund services and third-party management company business operations of Maitland In…

Starr Insurance Companies has announced an agreement with FPG Insurance Holdings Limited (HK) and local Thai shareholders to purchase FPG Insurance Public Company Limited, a Thai non-life insurance co…

In November 2020, government announced it was finalising plans for a new vertical farming facility that could potentially produce 30 per cent of the island’s leafy greens.
While nothing concrete has …

Artex, an alternative risk solutions company, has announced the transition of Horseshoe to Artex. Artex expanded its ILS offerings with the acquisition of Horseshoe in 2019.
“Horseshoe has always been…

AM Best has removed Coralisle Group Ltd’s subsidiaries from “under review with developing implications” and affirmed CG’s credit rating following its acquisition this month of Barbados-based Massy Uni…

Beyond Cancer Ltd, an exempted company registered in Bermuda, has appointed Susan Howell Jones as chief financial officer.
Beyond Cancer, an affiliate of Beyond Air Inc, is a development-stage biophar…

The Bermuda Monetary Authority confirmed the registration of seven insurers in April, taking this year’s number of new registrants to 27.
The BMA approved three restricted special purpose insurers – G…

SiriusPoint Ltd, the global specialty re/insurer headquartered in Bermuda, has appointed industry veteran Nick Pascall to the role of head of London and international casualty.
Mr Pascall will be resp…

California-based Altamont Capital Partners has acquired a majority stake and made a $150 million growth capital commitment to Fleming Holdings, the property and casualty insurance capital solutions bu…

The board of directors of Bermudian-based RenaissanceRe Holdings Ltd has announced a quarterly dividend of $0.37 per common share.
The dividend is payable on June 30 to shareholders of record on June …

Nayms has graduated from the Bermuda Monetary Authority’s regulatory sandbox to become the world’s first, fully regulated crypto-native insurance marketplace, the Bermuda Business Development Agency a…

This summer brings the second season of The Loren at Pink Beach’s Summer Guest Chef Series, being launched this weekend and bringing some top American chefs to the island.
“Last summer, we had between…

Among the high-powered speakers for the Bermuda Climate Summit next week, Tuesday May 24 at Rosewood Bermuda, will be Stuart Kirk, global head of responsible investments and global head of research an…

The RG/BSX Index remained unchanged at 2,335.84 in the absence of domestic company trading on the Bermuda Stock Exchange for the day.
The Bank of N.T. Butterfield & Son Limited finished down 31 ce…

On 6 April 2022, the Ministry of Economy and Labour announced that it would expedite the work permit process for qualified actuaries.
The temporary initiative is a response to the “high worldwide dem…

The Bermuda Monetary Authority has extended the deadline for insurers to respond to a data call by the organisation.
The original deadline of May 31 has been extended to June 30.
The BMA has also revi…

Bermudian-based re/insurer Vantage Group Holdings Ltd has appointed Gabriel Poppie as vice-president, central region executive, marketing and distribution.
Mr Poppie, who is based in Chicago, joins Va…

Industry veteran Andrew Smith has been tabbed to lead climate change related initiatives at Bermudian-based global reinsurer Conduit Re.
Mr Smith, chief risk officer since December 2020, takes on the …

Counterpart, the Los Angeles-based management liability insurtech, has announced the launch of their partnership with Bermudian-headquartered Aspen Insurance to bring Aspen’s management liability prod…

After two years of ferment, delivery trucks are rolling through again at On De Rock Craft Brewery on Market Lane in Pembroke.
Owner Simon Watkinson, has been struggling to keep the craft beer business…

A winding-up order has been made in the Supreme Court of Bermuda in relation to World on Wireless Limited, the television subscription provider.
TeleBermuda International Limited has acquired the busi…

Cinturion Corp Ltd, the Bermudian-registered global provider of scalable, subsea and terrestrial capacity-based network solutions, has reached an agreement with Lightstorm Telecom Ventures Pvt Ltd as …

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Bermudian-based Lumen Re Ltd.
The outlook of these credit ratings is st…

February’s retail sales volume fell 4.4 per cent compared to last year, according to Retail Sales Index figures released by the Ministry of Economy and Labour.
In value terms, retail sales revenue rem…

Readers, my tribute to mothers – ladies all – is a bit late, but please read on to know the reason.
There it is. Just a common image. Nothing unusual.
Two ladies facing each other across the table, ma…

Dear Dave,
My wife and I have always attended church, and we have always tithed. Over the last few months, we have come to the decision it is time for us to find a place to worship that is a little mo…

My family did not travel much when I was a child, but when we did, my parents jumped through hoops to cut costs.
On a trip to Disney World, for example, our family of six switched hotels. Every. Nigh…

The RG/BSX Index closed unchanged for the day at 2,335.84 with no trading.
For the week, the Index was pulled down 40.99 points (1.75 per cent) by the trading of 2,800 BF&M Ltd. shares ($50,577). …

AM Best has affirmed the financial strength rating of A (Excellent) and long-term issuer credit rating of “a” (Excellent) of Nectaris Re Ltd, the operating subsidiary of Nectaris Holdings Ltd, both of…

Consumers paid 2.5 per cent more in February than they did a year ago for the basket of goods and services included in the Consumer Price Index, the Ministry of Economy and Labour reported today.
This…

February’s retail sales volume fell 4.4 per cent compared to last year, according to Retail Sales Index figures released by the Ministry of Economy and Labour.
In value terms, retail sales revenue rem…

The Covid-19 pandemic is still causing operational challenges in the shipping industry, Bermudian-based crude oil tanker company, DHT Holdings Inc, has reported.
DHT said the pandemic is hampering its…

Inflation was pegged at 2.5 per cent by government today, as Jason Hayward, the Minister of Economy and Labour, released the February 2022 Consumer Price Index publication from the Department of Stati…

A Bermudian-based company, prominent on the international stage, has joined forces with the island’s Olympic Games gold medalist.
Apex Group Ltd, the global financial services provider, has become a s…

Bermuda’s newest internet provider, Horizon Communications, has launched a range of new internet packages for businesses looking for high speeds and savings.
A spokesman for the company said Horizon’s…

The RG/BSX Index fell 40.99 (1.72 per cent) to close at 2,335.84 on the trading of one stock on the Bermuda Stock Exchange for the day.
BF&M Ltd. closed at $18.01, down $4.49 (20 per cent) on trad…