Royal Gazette

CargoJet, “Canada’s cargo airline“, has apologised for the rash of delays and service interruptions that has left Bermuda importers in the lurch on more than one occasion recently.
The company vowed t…

The RG/BSX Index closed unchanged at 2,717.42 as two issues traded on the Bermuda Stock Exchange.
Argus Group Holdings Ltd. remained at $6.39 at the end, after 5,000 shares changed hands. And Watlingt…

Digicel and the Sargasso Group are teaming up for Pronto, a new joint venture, promoting innovation and technological development.
Pronto offers shelf-stable grocery categories such as household care,…

The Association of Bermuda International Companies (Abic) has expressed its concern that Bermuda will remain on a European Union grey list until October, although having done what was needed to satisf…

A year after its launch, global re/insurer SiriusPoint Ltd says it is “just getting started”.
The Bermudian-headquartered company debuted on February 26 last year as one of the first fully formed re/i…

Legacy specialist Darag Group, which has an operation in Bermuda, has appointed Andrew Pryde to the new role of group chief risk officer, subject to regulatory approvals.
Based in London, Mr Pryde wil…

Bermudian-based Liberty Group Limited has appointed Azeem Khan as managing director of its wholly-owned subsidiary, AG Holdings Limited.
The company said Mr Khan is an operational executive with more …

Bermudian-based Teekay Tankers Ltd, one of the world’s largest owners and operators of mid-sized crude oil tankers, has reported losses for both the fourth quarter and full fiscal year 2021.
The compa…

The annual Budget Breakfast hosted by the Bermuda Chamber of Commerce, scheduled for today, has been postponed until Thursday at 8.30am.
Chamber chief executive officer Kendaree Burgess said: “The Ber…

After working on infrastructure and commercial roll-out, new telecommunication’s provider Horizon Communications is ready to launch its residential service.
At the start, Horizon is offering two simpl…

The City of Hamilton is littered with shuttered buildings and other vacated commercial premises, some that once housed thriving businesses.
It is a visual indicator of the island’s economic troubles …

The public nature of wills has recently been hotly contested in the United Kingdom, where the practice of making wills of ordinary folk public, versus sealing royal wills, has been in focus.
Following…

Russia’s invasion of Ukraine likely will impact the global insurance industry substantially in the near to midterm, AM Best believes.
The rating agency said this is probable, especially given the sign…

Yes, I’m writing about financial literacy again. No matter where one looks, it has become a global buzzword, laden with concern, generating significant increases now in various initiatives in various …

Dear Dave,
What exactly is an executor, and what part do they play in someone’s will?
— Gabe

Dear Gabe,
Simply put, an executor manages the last will and testament of someone who dies. Acting as an e…

Joyce Hayward, an entrepreneur and former accountant general, believes pandemic-hit small businesses could need the Bermuda Economic Development Corporation’s help for the next five years.
“They will …

The RG/BSX Index closed at 2,717.42, some 42.75 (1.60 per cent) points higher for Budget Day, as two rose on trading.
BF&M Ltd. had 3,500 shares change hands, closing at $18.15, up $4.36 (31.6 per…

Bermudian-based holding company Assured Guaranty Ltd has reported net income of $389 million in fiscal year 2021.
That includes a $175 million pre-tax ($138 million after-tax) loss on debt extinguishm…

Alaina Cubbon has joined Elementum Bermuda in the position of vice-president, portfolio management on the organisation’s investment team.
The alternative investment manager specialising in collaterali…

Nordic American Tankers Limited, the Bermudian-based oil tanker company, has reported a net loss of $21 million in the fourth quarter of 2021.
The adjusted EBITDA was $1.9 million.
The net loss for th…

SiriusPoint Ltd, the global insurer and reinsurer based in Bermuda, has reported net income of $44.6 million in fiscal year 2021.
That result is despite a net loss of $140.3 million in the fourth quar…

Leah Mills’ natural hair care business Pink Lotus Hair and Skin Essentials was born out of a series of bad hair days.
“I always had natural hair, but when I was younger I would put heat to it and make…

Entrepreneur Akilah Swan, a graduate of the Ignite Bermuda programme, has joined the non-profit organisation’s board of directors.
Ignite, the entrepreneurial accelerator launched in 2019, said its bo…

The RG/BSX Index closed unchanged at 2,674.67 with domestic companies idle at the trading desk of the Bermuda Stock Exchange.
The Bank of Butterfield closed down 78 cents (2.01 per cent) at $38.02 on …

Rego Sotheby’s International Realty has announced that the Sotheby’s International Realty global network achieved a record $204 billion in 2021 global sales volume.
That was a 36 per cent increase in …

The leaders of Conduit Holdings Limited remain optimistic despite a comprehensive loss of $42 million by Conduit Re in its first year of operation.
Preliminary results released today by the Bermudian-…

Aanika Biosciences, an emerging American biotech company using microbial-based technologies to protect the safety and security of our food system, has been accepted into the Bermuda Monetary Authority…

Members of Bermuda’s entrepreneurial and entertainment communities are encouraged to apply for opportunities available during SailGP, which will hold its season three opening event in Bermuda, May 14-…

Enstar Group Limited, the global insurance group based in Bermuda, has reported consolidated net earnings of $437 million for fiscal year 2021.
That compares to consolidated net earnings of $1.7 billi…

A Bermudian mother-daughter duo could soon see their vegan hair care products on shelves at Target, one of the largest big box stores in the US.
But Gina Spence, and her daughter, Isis Benjamin, need…

Dire warnings from the Fiscal Responsibility Panel highlight Bermuda’s troubled economy, noting how imported inflation is squeezing household incomes.
Their seventh annual report observes how the impa…

The RG/BSX Index remained unchanged at 2,674.67 in the absence of trading on the Bermuda Stock Exchange domestic board.
In New York, The Bank of N.T. Butterfield & Son Limited finished at $38.80, …

A Black former Belco employee of 43 years was yesterday honoured for his work modernising the company.
Belco paid tribute to the late Nolan Leroy Smith, an electrical engineer who helped build the com…

On the same day that it emerged from a chapter 11 bankruptcy process, Bermudian-based offshore drilling company Seadrill Limited has reported a net profit of $18 million in the second half of 2021.
Th…

Bermudian-based energy outfit Höegh LNG Partners LP has reported net income of $16.2 million in the fourth quarter of 2021.
That compares with net income of $18.5 million in the fourth quarter of 2020…

Bacardi, the drinks giant based in Bermuda, has achieved the internationally-recognised “Great Place to Work” certification at its 23 production sites across 10 countries worldwide.
The company’s glob…

An air importer that sparked a flurry of complaints this month over poor service has been put on notice of a formal complaint after another missed flight.
Canadian-based Cargojet, which specialises in…

With the backdrop of global tensions and the threat of war in Ukraine, Bermuda’s financial services regulator has added three Russian nationals and five banks to the sanctions list on its website.
The…

Argo Group International Holdings, has reported a fourth quarter net loss attributable to common shareholders of $118.8 million, compared to a net loss attributable to common shareholders of $3.5 mill…

The Stationery Store and Stationery Store Plus are seeking to add more local brands to their wide selection of products – particularly those created by Black-owned businesses.
The stores said the init…

Eric Andersen, the president of Aon, will deliver a keynote address at the inaugural Bermuda Risk Summit next month.
The March 14-16 event, presented by the Bermuda Business Development Agency, is the…

BMS, the independent insurance and reinsurance broker with an office in Bermuda, has promoted Neil Prior to the newly created role of group head of environmental and social responsibility, effective i…

Bermudian-based Avance Gas Holding Ltd has reported a net profit of $32.1 million in fiscal year 2021.
That figure compares to a net profit of $70.9 million in 2020.
The company, which is engaged in t…

Valaris Limited has reported an operating loss of $24.7 million in the fourth quarter of 2021.
The Bermudian-based offshore drilling company said that compared with operating income of $3.1 million in…

Seadrill Limited, the offshore drilling company based in Bermuda, has announced that it anticipates soon emerging from chapter 11 bankruptcy, possibly as early as this week.
Seadrill’s chapter 11 plan…

One of Bermuda’s most well known advertising and publicity agencies, AAC, has rebranded as 2.0, it was announced Monday.
For many years, AAC maintained a key role in the marketing and branding of Ber…

Mark Adams has been appointed senior associate on the corporate & finance team of law firm MJM Limited.
After qualifying in England and Wales in 2002, Adams acquired extensive international experi…

The RG/BSX Index closed unchanged at 2,687.80 with only Argus Group Holdings Ltd. trading on the Bermuda Stock Exchange, closing unchanged at $6.39, after 13,103 shares changed hands.
In New York, The…

The Bermuda College will receive a $75,000 boost over three years thanks to a donation from an insurance company.
BF&M Ltd will give annual donations of $25,000 to the Bermuda College Foundation, …