Royal Gazette

This is the first in a series of excerpts from a financial primer written by the author for modern women and their future financial security, to be published in late winter 2022.
The last few weeks of…

Dear Dave,
My father-in-law passed away earlier this year. Since then, my wife and I have faced a dilemma because of the inheritance. Her dad had several life insurance policies, and he left one to he…

The RG/BSX Index finished unchanged at 2,242.35 for the day after only one issue traded on the Bermuda Stock Exchange.
A total of 2,338 shares of Argus Group Holdings Ltd. ($14,746.26) changed hands b…

After just three months in operation, Fit to Fly BDA has given more than $5,000 to three tourism related charities, as part of its commitment to philanthropy.
“From the beginning, we knew that we wan…

AES Solar has launched Solar Roof Maintenance, a new business providing total roof care for solar panel owners in Bermuda.
Stephanie Lynam, company office manager, said AES started Solar Roof Maintena…

Marlene Cechini is the new chief financial officer at Everen Group, succeeding Ricky Lines who will assume the newly created position of chief investment officer.
Ms Cechini has been with the company …

Skuld, the Norwegian-based marine insurance provider with an office in Bermuda, is opening a Japanese branch, Skuld Japan, in Tokyo.
Jinsung Son has been appointed head of Skuld Japan. Prior to joinin…

Mosaic Insurance has been named “Cyber Newcomer of the Year” by insurtech and data services provider Advisen, a Zywave company.
The specialty insurer was honoured as an industry top performer at the n…

The Institute of Directors Bermuda hold a special “Meet and Greet” on Tuesday afternoon for those interested in learning more about their Certificate in Company Direction programme and the 2022 CICD C…

Wanda Mwaura has been appointed an independent non executive director of Gulf Keystone Petroleum Ltd.
With more than 25 years experience in the financial services sector Mrs Mwaura has extensive expe…

The government has threatened Bermuda’s banks to rein in escalating bank fees and globally-abnormal bank charges, or face government-imposed limits.
And a near 10 year old Progressive Labour Party pro…

Market reaction to news that BF&M may be sold has sent the share price soaring, up $4.95 (27.4 per cent) on the Bermuda Stock Exchange, closing Thursday at $23 after trading of 11,173 shares.
The …

The Financial Services Regulatory Authority of Ontario is warning consumers to refrain from using Relm Insurance Limited in Bermuda to obtain insurance.
The authority is warning that the company is n…

Compre, the international specialist legacy group, has redomiciled to Bermuda under the supervision of the Bermuda Monetary Authority.
The move to Bermuda is the culmination of Compre’s diversificatio…

Paul Brand is the new chief executive officer of the Convex Group.
Mr Brand founded the business in 2019 with Stephen Catlin, and has been deputy CEO since then.
Stephen Catlin, executive chairman, …

Applications for Ignite Bermuda’s business accelerator programme open Monday, and successful applicants for the sixth cohort will begin with Ignite in October.
They could include entrepreneurs and com…

Eva Frazzoni has joined the Association of Bermuda Insurers and Reinsurers as a summer intern.
One of 57 paid interns at Bermuda’s insurers and reinsurers, Ms Frazzoni will work with Abir’s policy and…

BMS, the independent insurance and reinsurance broker has made seven industry hires to its rapidly growing casualty division.
They will support BMS’ network of international clients as well as fuellin…

Sunny Side Solar is donating 46 solar panels to what may be the island’s largest charity feeding programme – the initiative at Christ Church Warwick.
Sunny Side Solar said the gift will substantially …

Bermuda’s premier publishing house, Bermuda Press Holdings Ltd., has reported half-year profits to the end of March of $190,000, down from $399,000 for the comparable period in 2021.
The owner of this…

The RG/BSX Index closed down 0.24 of a point (0.01 per cent) to 2,196.92, with two issues trading and one declining.
The decliner was Argus Group Holdings Ltd., falling a penny (0.2 per cent) to $6.30…

BF&M Limited may be up for sale.
The domestic insurer – one of the largest on the island – has initiated a review of strategic alternatives “to maximise shareholder value” and which may include th…

Six Bermudian students will be learning about the global reinsurance industry this summer as part of an Ariel Re internship programme.
The interns will learn about a variety of roles within the sector…

BMS, a Bermuda-based independent specialist insurance and reinsurance broker, has appointed Ian Gormley as the new United Kingdom chief executive officer.
Mr Gormley will report to Nick Cook, chief ex…

Encore Capital Management has chosen Apex Group, a Bermudian-based global financial services provider, to give fund administration, investor reporting and tax services.
Encore is a vertically integrat…

A half century old Bermuda mutual insurance group, established to support the global oil industry, is rebranding.
After transitioning many years ago to support not just oil, but wider energy projects,…

Due to inflation food prices are going up almost everywhere in Bermuda, except the English Market in Hamilton.
Next week grocery store owner Fabio Iannone plans to bring the price down on all his frui…

The RG/BSX Index closed down 0.48 (0.02 per cent) at 2,197.16 for the day, after 3,000 shares of Argus Group Holdings Ltd. ($18,930.00) changed hands and the issue finished for the day down two cents …

Bermuda still has hundreds of Russian aircraft on its registry, long after Russian authorities claimed they had re-registered them to the Russian registry.
Aircraft cannot legally be registered in mor…

S&P Global Ratings has placed SiriusPoint Ltd and its core subsidiaries on CreditWatch, with negative implications.
But the global specialty insurer and reinsurer was out quickly with a response.
…

AXIS Group Benefits is offering a new supplemental medical insurance policy, HealthGap, which complements an employee’s qualified major medical policy by reimbursing covered upfront and out-of-pocket …

The second year of the Mosaic Insurance programme for summer interns, brings expansion, with students being placed in Bermuda, New York, and London offices.
Adiv Kuray, 18, is based at Mosaic’s New Yo…

This time last year, entrepreneur Bulent Ganal was selling Turkish outdoor furniture sets for $7,000 each.
The same set is now $9,000.
Mr Ganal who has run Grand Bazaar in the Clocktower Mall in Docky…

Representatives for new digital bank Jewel continue to pave the way for new office space on Victoria Street to meet an ambitious start date in September.
But they have confirmed to The Royal Gazette t…

The RG/BSX Index closed at 2,197.63, down 0.48 of a point (0.02 per cent) for the day, affected by Argus Group Holdings Ltd., which fell two cents (0.3 per cent) to $6.33 after trading of 8,474 shares…

Everest Reinsurance, the reinsurance division of Everest Re Group, Ltd. has continued to grow its network, with Joe Stuhl joining the company as senior vice president of global distribution.
In this n…

Government has estimated that nearly 400 local businesses attended the Cybersecurity Webinar Series.
The series was designed to help them learn from subject-matter experts and members of the Cybersecu…

The Bermuda Economic Development Corporation has called on the community to recognise micro, small, and medium-sized enterprises by shopping locally.
The BEDC message came as they announced an expansi…

Longtime Bermudian businesswoman and technology educator, Coral Wells, founder and executive director of Connectech Coding, has been recognised by the Caribbean Women Inventors & Innovators Networ…

Future insurance professional, Kiara Burcher, received a boost for her schooling from Bermuda’s international life re/insurance community with a $30,000 scholarship.
Bermuda International Long Term In…

The owner of a new Hamilton nursery school says government regulations need to change to help more local business owners launch without incurring heavy debt.
When Ajale Williams started City Strivers …

Appleby is a Gold sponsor of the Transcontinental Trusts: Bermuda 2022 conference on 29 June – 1 July at Hamilton Princess & Beach Club.
The firm said the three-day trusts conference typically att…

Energy mutual, Associated Electric & Gas Insurance Services Limited has won approval from a rating agency for its balance sheet strength, its adequate operating performance, neutral business profi…

Partner Keith Robinson at Carey Olsen Bermuda Limited and counsel Claire van Overdijk are presenting at the Global Elite’s inaugural Private Client Exchange Bermuda event June 28 and 29 at the St. Reg…

The cryptocurrency market is in upheaval, in concert with, and reflecting investor concerns in managing traditional capital market volatility.
Cryptocurrency is the latest evolution in the chain of me…

Dear Dave,
Sometimes on vacation trips I like to check out casinos. I always account for the money I wager in my budget, and I never spend more than I’ve allotted. How do you feel about gambling at a …

The RG/BSX Index finished up 54.01 (2.52 per cent) at 2,198.11 for the day after Bank of N.T. Butterfield Ltd. closed up 30 cents (1.0 per cent) at $30.30, on volume of 1,486.
Also up was Argus Group …

Specialty insurance underwriter Argo Group International Holdings, Ltd. has named a new CEO, Thomas A. Bradley, replacing Kevin J. Rehnberg.
Mr Bradley has served as Argo’s chairman since 2020, and h…

For the ninth consecutive month, the Retail Sales Index has tumbled, a period stretching through to March this year from as far back as the summer of 2021.
The Ministry of Economy and Labour has just …

The clock is ticking as the Government seeks to refinance a billion dollars of Bermuda’s debt over the next two years — with half a billion maturing in the upcoming fiscal year, and a $140-million not…