Royal Gazette

Bermudian-based Vantage Group Holdings Ltd has received a capital commitment of up to $200 million and has made an important acquisition.
Vantage, one of Bermuda’s Class of 2020 re/insurers, said that…

DHT Holdings Inc, the Bermudian-based crude oil tanker company, has reported a net loss in fiscal year 2021 of $11.5 million.
That compares with net income of $266.3 million in 2020.
The difference be…

RiverStone International, the acquirer and reinsurer of legacy and discontinued insurance business, has launched an office on the island with the appointment of market veteran David Rocke as managing …

Two cruise ships operated by a subsidiary of Bermudian-based Genting Hong Kong Limited have been placed under arrest in the Bahamas for alleged non-payment of bills.
The Crystal Symphony and Crystal S…

An insurance executive has effectively been barred from the local insurance industry for an indefinite period.
The Bermuda Monetary Authority has banned Nicholas Mark Cooke from senior market roles an…

More than a month into the new year, Bermuda’s financial institutions are still considering what to do about replacing Libor, a major component scheduled for retirement at the end of 2021 from its use…

Triangle Life Ltd, the provider of life insurance products to high-net-worth (HNW) individuals globally through its wholly owned subsidiary, Triangle Life Insurance Co Ltd., has announced the appointm…

The RG/BSX Index fell 2.38 (0.09 per cent) to 2,533.51 for the day, after 10,300 shares of Argus Group Holdings Ltd. traded for $6.10, down 10 cents (1.6 per cent).
The Bank of Butterfield was down by…

Industry heavyweights Stephen Catlin, Albert Benchimol and Marc Grandisson will be among the speakers at the inaugural Bermuda Risk Summit next month.
A global CEO panel at the event will feature Mr C…

TigerRisk Partners LLC, the risk, capital and strategic advisor to the global re/insurance industries with an office in Bermuda, has named Joel Hodges as partner and head of analytics, International.
…

With one exception, retail sales have fallen every October since 2016, government figures show. Only in 2020 did the month record an increase.

The Retail Sales Index press statement released Frida…

Covid-19 has been a major driver of digital transformation for Bermuda businesses, according to a new Digicel Business research study.
The survey of 140 Bermuda business owners found that Bermuda’s di…

Joint provisional liquidators have been appointed by the Supreme Court of Bermuda to assist in restructuring the indebtedness of Dream Cruises Holding Limited.
Puisne Judge Larry Mussenden on Friday a…

A newly released report from EY reveals that alternative funds are evolving to meet the challenges of today’s world, from the Covid-19 pandemic, to the growing importance of environmental, social and …

Safety has been top of mind for the past two years since the start of the Covid-19 crisis.
Leaders have had to tackle shifting expectations to keep their employees’ wellbeing a priority. But during t…

Three individuals, one from the east, and two from the west, have great commonality – all are at the height of their game, all have proven track records, all are great legends in our time.
One is hal…

Dear Dave,
My husband and I are 30, and we are on Baby Step 2. He wants to go back to school and become a social worker. He currently makes about $20,000 a year as a teacher’s assistant, and he wants …

The Cabinet Office released the October 2021 Retail Sales Index (RSI) Friday night.
But the depressing numbers reflected the precipitous drop off in the retail industry.
October’s retail sales fell 6…

The RG/BSX Index slumped by 5.02 per cent on the first Friday in February, falling 134.10 points, closing at 2,535.89.
The Index was affected by the sale of just 439 shares of the Bank of N.T. Butterf…

Bermudian-based global specialty insurer Mosaic Insurance is marking a full year in business.
The company said it celebrates a year of rapid growth and milestones, including strategic technology and c…

Industry veteran April Thomas has joined Walkers Professional Services Bermuda as a director and will lead the fiduciary and regulatory compliance teams.
WPS said Ms Thomas has extensive experience na…

There are not many teenagers with their own business card, but Nico Bean has one.
And he is barely a teenager!
The 13-year-old has been running his own art business, Flow by Nico, for more than a year…

Convex, the international specialty insurer and reinsurer, has for the first time answered criticisms that it had failed to join more than 40 major insurers who had publicly ruled out insuring the con…

The RG/BSX Index closed unchanged at 2,669.99 with no activity on the main board of the Bermuda Stock Exchange for the day.
The Bank of N.T. Butterfield & Son Limited closed three cents (0.08 per …

An American cryptoasset insurer with an island-based subsidiary licensed by the Bermuda Monetary Authority has been granted Lloyd’s of London coverholder status.
Chicago-headquartered Evertas said thi…

Apex Group Ltd, the Bermudian-based global financial services provider, has appointed Keith Mahon as managing director, Bermuda.
The company said Mr Mahon will be responsible for leading the business …

A global provider of connectivity and internet services has announced its intention to move its group parent company to the United Kingdom, replacing a company incorporated in Bermuda.
Veon Ltd, which…

The parent company of a Bermudian-based investment business has acquired a bank in the Cayman Islands.
Jamaica-headquartered Proven Investments Limited, through its newly formed subsidiary Proven Bank…

A Supreme Court judge has denied a bid by HSBC Bank Bermuda Limited to take possession of a mortgaged commercial property and sell it to satisfy the mortgage debt.
Puisne Judge Larry Mussenden refused…

The RG/BSX Index rose 4.77 points (0.18 per cent) to close at 2,669.99 after one issue traded on the main domestic board of the Bermuda Stock Exchange.
Argus Group Holdings Ltd. finished 20 cents (3….

Swiss-domiciled Chubb Limited, which has operations in 54 countries and territories including deep roots in Bermuda, has reported record net income of $8.54 billion and record core operating income of…

The Bermuda Monetary Authority has cancelled the insurance registration of Signify Insurance Ltd, a Class 1 insurer, for breaches of the Insurance Act 1978.
The BMA said that exercising its powers to …

QBE Re has expanded its Bermuda team with the appointment of Melanie Lopes as assistant vice-president, lead treaty underwriter.
Ms Lopes joins from Bermudian-headquartered re/insurer SiriusPoint wher…

Industry veteran Ian Parker has been appointed group chief executive officer at Catalina Holdings (Bermuda) Ltd.
Mr Parker succeeds Bruce Hemphill, who stepped in as interim CEO from the role of non-…

The sale of managing general agency Velocity Risk Underwriters LLC by Bermudian-headquartered ILS fund manager Nephila Capital has closed.
The catastrophe-focused property and specialty insurance risk…

AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to recently-established Bermudian-based reinsurer Sutton Life Re Ltd.
The ou…

Ralph Renner has joined as partner and head of origination at Parameter Climate, the full-service parametric climate underwriting, advisory and distribution firm that is part-owned by Bermudian-headqu…

AM Best has released a new methodology, Best’s Performance Assessment for Delegated Underwriting Authority Enterprises.
In this methodology, AM Best introduces the Best’s Performance Assessment, which…

When Gia Eversley-Brooks had a soft launch for anime product business Weebs on the Rock a month ago, she was unsure how her products would be received.
She imagined months of slogging to build up a lo…

The RG/BSX Index remained unchanged, closing as it opened, at 2,665.22.
There was no trading on the Bermuda Stock Exchange domestic board for the day.
In New York, the Bank of Butterfield ended the da…

Bittrex Global, which has operations in Bermuda and Liechtenstein, has launched Bittrex Global Starting Block, a new initial exchange offering (IEO) platform.
Announcing the news in the Liechtenstein …

Members of the Association of Bermuda Insurers and Reinsurers (Abir) contributed $8.5 billion to the Bermudian economy over the decade ended 2020, according to a tally of annual member survey results….

Concert Group Holdings Inc, the new business dedicated to insurance fronting, has appointed Suzanne Fetter to the newly-created position of vice president, claims.
Ms Fetter, who will report to Concer…

CFA Society Bermuda’s popular financial literacy series returns to the Bermuda College beginning February 23.
The organisation said the four-part series is designed for anyone who is looking to learn …

Bermudian-based Mosaic Insurance has partnered with hybrid fronting carrier Transverse Insurance Group to activate $20 million in cybersecurity capacity in the US market.
The global specialty insurer …

Integral ILS Ltd, the Bermudian-based independent insurance-linked securities fund manager, has surpassed $1.1 billion of investor capital deployed, the company announced today.
The firm also said it …

Compre, the international specialist legacy group with operations in Bermuda, has appointed Zameer Mitha to the newly created role of chief actuary, North America.
He will be based in London and repor…

The RG/BSX index closed at 2,665.22, unchanged for the day, with no trading among domestic companies.
The Bank of Butterfield finished up nine cents (0.25 per cent) at $36.65 on the New York Stock Exc…

Industry veterans Patricia Darrell and Lani Isip have joined forces to create Global Consultants, a work permit, immigration and travel documentation services business.
Ms Darrell and Ms Isip have mor…

Clarien Bank and Age Concern have launched a partnership to help Bermuda’s senior population adapt to digital banking at Clarien.
The bank said Age Concern volunteers will work alongside the Clarien c…