Royal Gazette

Apex Group Ltd, the Bermudian-based global financial services provider, in partnership with the Digital Leadership Forum, has announced the launch of the Financial Services Disruptor Forum powered by …

December 2021 was a less than merry month according to the latest retail sales report from the Department of Statistics.
The December 2021 Retail Sales Index report showed that the volume of retail sa…

Oligarchs now facing sanctions and the discomfort of seeing their luxurious lifestyles thrown into the spotlight may be disconcerted to recall that one of their number, just four months ago in a Bermu…

Georgian oligarch Bidzina Ivanishvili has won a massive half billion-dollar lawsuit against Swiss banking giant subsidiary Credit Suisse Life (Bermuda).
Chief Justice Narinder Hargun’s ruled that the …

The Cayman Islands may keep an eye on Bermuda as they review a $6-an-hour minimum wage implemented in March 2016.

The Cayman Compass is reporting broad support for a review of the six-year-old ben…

KPMG in Bermuda has sold its restructuring practice to Teneo, the New York-headquartered global CEO advisory firm.
As part of the transaction, Mike Morrison and Charles Thresh will be leaving the firm…

Pearline McIntosh has been appointed to the position of SVP, head of private banking, at Clarien Bank.
She will be responsible for the day-to-day management of the private banking team within Clarien’…

The RG/BSX Index remained unchanged for the day at 2,565.74, with no activity for domestic companies on the Bermuda Stock Exchange.
Meanwhile, the Bank of N.T. Butterfield & Son Limited fell 50 ce…

BF&M Limited is reporting net income of $25.2 million for the 2021 financial year to December 31, an improvement over 2020 earnings of $20.5 million.
The company said the results equated to an ann…

A subsidiary of Bermudian-based holding company Assured Guaranty Ltd has issued a £170-million, five-year debt service reserve guarantee to benefit Yorkshire Water Services Limited, a member of the Yo…

Bermudian-based Oil Insurance Limited has reported a net profit for 2021 of $667.5 million, which included a $266 million underwriting profit.
That compares with a net profit of $466.5 million in 2020…

Twelve Allied World Bermuda employees were recently promoted in recognition of their many contributions to the organization.
“It is great to see each of these individuals recognised for their hard wo…

Ann Spencer-Arscott and Katie Bennett have been appointed co-presidents of the Bermuda chapter of the Association of Fundraising Professionals.
An AFP Bermuda spokesperson said: “We are delighted to a…

Mike Morrison and Charles Thresh have joined Teneo following the global CEO advisory firm’s acquisition of KPMG’s restructuring business in Bermuda.
Morrison, who joins as co-chair, international fina…

St George’s is quiet before the kick-off of cruise ship season, but Kelli Thompson’s Saltwater Jewellery Designs shop just had five million virtual visitors.
On March 6, Ms Thompson and her seaglass p…

The government said Sunday that between November and December the average cost of goods and services went down.
Falling in price during that period was premium fuel and the entire transport & fore…

Virginia’s Governor Glenn Youngkin has welcomed the siting of a Bermudian insurance group’s new subsidiary in Henrico County.
The new offices are for Hamilton Insurance Group’s US headquarters, which…

Organisers of the third annual International Tech Summit in Bermuda have hailed the growing level of international and local interest in the island’s burgeoning fintech sector.
The week-long summit, h…

The common-sense mantra is “managing a budget keeps your finances under control”.
Good advice for good times: stable job, stable economy, healthy family, and a positive, promising future.
Not so relev…

Dear Dave,
My husband and I are getting a divorce, and everything will be final in less than a month. I haven’t worked outside the home in a few years, but according to the terms of the divorce I’ll …

The Royal Gazette/BSX Index jumped 86.72 (3.50 per cent) higher to 2,565.74 for the day, powered by trading of Bank of N.T. Butterfield Ltd., up $1.75 (five per cent) to $37 on a volume of 5,687.
Also…

Industry veteran Simon Johnson has been appointed president and chief executive officer of Seadrill Limited, the offshore drilling company based in Bermuda.
Mr Johnson replaces Stuart Jackson in the r…

The cash consideration for the sale of Bermudian-based reinsurer Partner Re Ltd to French mutual insurer Covéa is to increase by $328 million.
Sellers Exor, the diversified holding company controlled …

One of the world’s leading financial services providers, Credit Suisse Group, says it has lost a Bermuda Supreme Court battle that could cost it half-a-billion dollars.
Credit Suisse Group said it bel…

Clare Marshall and Karen Brine – International Sterling Society
Fiona Hatfield and Sarah Faiella – International Diamond Society
Angela Hanwell, Rochelle Swan and Tab Froud – International President’s…

An organisation set up to promote racial equality in the world of big business tonight held its first live networking event.
More than 150 Black professionals attended the Association for Corporate Ra…

The Royal Gazette/BSX Index closed unchanged at 2,479.03 for the day on the Bermuda Stock Exchange.
In the only trade of the day, Bermuda Aviation Services closed unchanged at $1.25 after 10,000 share…

New insurance fronting business Concert Group Holdings has appointed Sam LaDuca as chief actuary.
Starting April 1, LaDuca will report to Bermudian chief executive officer and founder Jonathan Reiss.
…

Called to the Bermuda Bar in November 2021, Ojeda Smith has joined Appleby’s legal trainee programme and begins her first seat with the firm’s insurance department.
Smith said: “It is an honour to be …

Bermudian-based oil tanker company, Nordic American Tankers Ltd looks set to appoint a woman as a member of its board for the first time.
The organisation said American Jenny Chu will be suggested to …

The Lido Complex on the Elbow Beach Hotel property has reopened after closing for a short period during the winter months.
The popular Sea Breeze Lounge & Terrace is now open for lunch, dinner and…

Strategic Risk Solutions, the world’s largest independent insurance company manager, continued its growth trajectory in 2021.
SRS said it participated in the Business Insurance survey of captive manag…

The Lloyd’s market made a strong return to profitability in 2021 with an overall profit of £2.3 billion and a combined ratio of 93.5 per cent.
Calling the announcement “the best quality result reporte…

Apex Group Ltd, the Bermudian-based global financial services provider, has appointed Krishna Prasad as head of US.
Based in Apex’s New York offices, the company said, Mr Prasad will report to Georges…

Aon has appointed Mike Merlo as its claims leader for the United States and Bermuda.
In his new role, Aon said, Mr Merlo will work with the firm’s claims leaders across all product lines to ensure tha…

The Bermuda Supreme Court is about to enter a half a billion dollar judgment against Credit Suisse Group, in a long-running court case involving a former prime minister of Georgia over hundreds of mil…

The digital assets sector will not escape regulation and taxation, a panellist at the third annual International Tech Summit in Bermuda told attendees.
Carol Pepper is the founder and chief executive …

A world-renowned tech expert has applauded Bermuda’s 2018 Digital Assets Business Act, calling it “well thought out”, “high-quality” and “comprehensive” regulation.
Tom Ilube, chief executive officer…

Bermuda has long been recognised as a jurisdiction where custodians of traditional assets can thrive.
We think that the same is true for digital assets and that the digital asset custodian industry in…

Digicel Business Bermuda has announced a partnership with Hubbcat, an industry leader in business-critical, secure communication solutions.
Co-founded by a former Bermuda resident, Hubbcat was integra…

The RG/BSX Index fell 15.98 points (0.64 per cent) to close at 2,479.03, as BF&M Ltd. fell $1.75 (8.0 per cent) to close at $20 on a volume of 3,650 on the Bermuda Stock Exchange.
The Bank of N.T….

Buckle, a digital financial services company for the gig economy, has completed a $15-million upsizing of its term loan with participation from Siguler Guff & Company LP along with existing lender…

Apex Group Ltd, the Bermudian-based global financial services provider, has been appointed by Israeli-headquartered OurCrowd, a global venture capital investment platform, to provide fund services.
Fo…

Bermudian-headquartered global specialty re/insurer SiriusPoint Ltd has announced a strategic partnership in Players Health, an amateur sports insurance and risk management platform.
SiriusPoint said …

When Malika Serrar first moved to Bermuda from Canada, she was shocked by the price of a haircut.
“I went to one place and they charged me $200 for a wash, cut and blow dry,” she said. “I was really s…

The allegation by a US Congressman that “several million dollars has been routed through nonprofit organisations in Bermuda” in a Russian disinformation scheme to promote fracking in the US (Tuesday M…

The RG/BSX Index closed at 2,495, unchanged, after a day of no trading activity on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited closed up a penny (0.03 per cent) at $37.1…

Economic investment opportunities created by the Bermuda Business Development Agency in 2021 included 13 economic investment certificate applications approved for a total investment of $236 million, t…

LOM Financial Limited’s net profit for the year doubled to $9,510,119 as it enjoyed favourable returns on securities that the company owned.
In a letter to shareholders, chairman and CEO Scott Lines s…