Royal Gazette

The RG/BSX Index climbed 107.26 (4.38 per cent) to 2,553.74, driven by a two dollar rise (5.8 per cent) in the Bank of N.T. Butterfield Ltd. share price on the Bermuda Stock Exchange, when the bank st…

PartnerRe, the Bermudian-based global reinsurer, along with Illinois-headquartered Euclid Program Managers and Euclid Security Programs LLC have announced the carrier partnership for a security indust…

Clarien Bank will be adjusting its Bermuda dollar base lending rate, for the fourth time since last April.
Effective March 1, they will be adjusting their Bermuda dollar base lending rate by 50 basis …

Palomar Holdings Inc, the parent company of island-based Palomar Specialty Reinsurance Company Bermuda Ltd, has reported net income of $52.2 million for fiscal year 2022 (2021: $45.8 million).
In the …

Ratings agency AM Best is to host a market briefing in Bermuda to discuss key trends and factors facing the re/insurance industry.
The briefing will be held at March 7 at the Hamilton Princess & B…

The Bermuda Monetary Authority confirmed the registration of four insurers in January.
The BMA registered two Class 1 insurers – HFCI Ltd and Light Speed Insurance Corporation Ltd – along with Berking…

A popular clothing retailer in Bermuda is set to go international.
The Authentic Bermuda Shorts shop, commonly referred to as TABS, is to open a boutique in the Cayman Islands.
Located in the heart of…

The year ahead will bring a rise in global mergers and acquisitions, with ESG, portfolio optimisation and digitalisation remaining strategic priorities, a new PwC report has forecast.

PwC 2023 Glo…

Triton International Ltd. has reported fourth-quarter net income attributable to common shareholders of $152.2 million and a full year profit of $694.8 million.
Triton International Limited is a leasi…

Applications are being accepted for a social media and marketing internship programme for students that will run for six weeks this summer.
SkillCraft is presented by Rise Marketing Ltd under the guid…

Strategic human resources executive Claire Eeles has been appointed as chief people officer and a member of the leadership team at Mosaic Insurance, the Bermudian-based specialty insurer.
She will be …

Axis Capital Holdings Limited, the global specialty re/insurer based in Bermuda, has announced its commitment to a 50 per cent absolute reduction of Scope 1 and 2 greenhouse gas emissions by 2030 acro…

Bermudian-based Cool Company Ltd, the liquefied natural gas shipping company, has filed a registration statement with the US Securities and Exchange Commission, with the intention of directly listing …

After a two-year pandemic pause, the Bermuda Fudge Company is back with a new weapon in their sales arsenal: chocolate amphibians.
The chocolate tree frogs, complete with a box that chirps like the re…

The Bermuda Economic Development Corporation is calling their first EEZ small business expo in Sandys, a “resounding success”.
“I’m thrilled with the turnout and energy of this year’s Small Business E…

The Royal Gazette/BSX Index rose 107.26 points (4.59 per cent) on Tuesday to close on 2,446.47.
This was driven by 2,796 NT Butterfield & Son shares changing hands, to close at $34.50, up 6.2 per …

Randall Krebs of Harbour International Trust Company Limited, has been named as one of the Top 20 Trustees 2023, by Citywealth, a magazine for private wealth management professionals.

Citywealth’s…

Nabors Industries Ltd, the Bermudian-based energy driller, has entered into a business combination agreement between the special purpose acquisition company that it formed in 2021, Nabors Energy Trans…

Bermudian-based Aspen Insurance Holdings Limited has appointed Yasmin Saleh as head of corporate communications.
Ms Saleh joins Aspen after 15 years with Aviva, during which she served in various seni…

David Burt, the Premier and Minister of Finance, is among five panellists who will engage in discussion at the annual Budget Breakfast hosted by the Bermuda Chamber of Commerce.
The event takes place …

Bermudian-based re/insurer Arch Capital Group Ltd has reported net income available to Arch common shareholders of $849.5 million for the fourth quarter of 2022.
That result, a 29.5 per cent annualise…

Daniel Plants, the activist shareholder who secured a place on the board of directors of Argo Group International Holdings Ltd, has stepped down from the post.
Mr Plants, who was chairman of Argo’s st…

Canopius Group, the global specialty reinsurer, has appointed Mike Butler as head of management and professional lines, Bermuda.
He will report to Laurie Banez, head of casualty and head of management…

The Bank of NT Butterfield & Son Limited has reported net income of $214 million for fiscal year 2022, as rising interest rates boosted profits.
The bank’s net income is compared to their 2021 pro…

The RG/BSX Index closed on Monday unchanged at 2,339.21 after a day of no trading on the Bermuda Stock Exchange.
Overseas, the Bank of N T Butterfield & Son Ltd closed up 75 cents (2.33 per cent) …

The Bermuda Economic Development Corporation is to offer an eight-week course aimed at helping individuals understand the basics of reviewing and understanding financial statements.
Financial Statemen…

The Bermuda Chamber of Commerce is to offer a series of lunch and learn opportunities designed to improve leadership skills and equip individuals with the behaviours needed to succeed in today’s hybri…

Bermuda Yellow Pages, the marketing and advertising agency, has entered into a customised branding deal with Whip E-Scooters.
The agency is providing its marketing and advertising expertise to Whip in…

Representatives of private industry and the Bermuda Government are in Mexico this week as part of a business development mission organised by the Bermuda Business Development Agency.
The BDA said the …

Bermuda market veteran Gary Stockley has been appointed as an account executive in the island’s office of Miller, the specialist re/insurance broker.
Mr Stockley will report to Charlie Simpson, head o…

The announced sale of Argo Group International Holdings Ltd has been followed by AM Best placing under review with developing implications the long-term issuer credit rating of “bbb-” (Good) and the a…

The former site of Bermuda’s first cottage colony languishes on the property market a quarter of a century after it closed down, and some 15 years following its purchase for the purpose of redevelopme…

Bermudian-based re/insurer Lancashire Holdings Limited has reported a loss before tax of $2.8 million for fiscal year 2022 (2021: $56.8 million loss before tax).
Lancashire said strong premium growth …

Veteran insurance executive Andrew Brooks, just retired as the group chief executive officer at Bermudian-based Ascot Group, has been named deputy chairman of the Council of Lloyd’s.
Mr Brooks, an ele…

This is part two of commentary on the Pre-Budget Report 2023-24 — in part one, we covered the first four chapters.

A budget is not an actuality. It is a projected financial plan for an defined pe…

Dear Dave,
My parents are both in their seventies. They have been healthy and active all their lives, but in spite of them both having good jobs they neglected to plan and save for retirement. Is it m…

The RG/BSX Index climbed 107.26 points (4.58 per cent) to close at 2,339.21 for the week, driven solely by Bank of N.T. Butterfield Ltd. which rose $2 (6.6 per cent) to $32.50 on trading of 5,417 shar…

The trading volume on the Bermuda Stock Exchange decreased to 1.42 million shares and the value of shares traded totalled $13.13 million for 2022, the BSX has reported.
The Royal Gazette/BSX Index clo…

Axa XL, the Bermudian domiciled global commercial re/insurer, has put nature at the heart of its new, three-year sustainability strategy.
The company has published “Roots of resilience”, setting 23 am…

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has reported net income for the fourth quarter and full year 2022 of $147.4 million (2021: $181 million) and $831.4 million (2021: $681.8 mi…

Dan Frusciano has been appointed to the post of North America head of cyber underwriting at Liberty Mutual Insurance, responsible for overseeing cyber underwriting strategy for the United States, Cana…

A new online directory for Bermuda small businesses has launched to connect companies and customers.
Kimwana Eve founded Lookie Lookie last year to encourage residents to find businesses, connect with…

There is rising concern about the affordability of the Bermuda dream of home ownership.
There is some evidence of shortages explored in the next RG Business edition of the Navigate Series — a podcast …

Brookfield Reinsurance, the island-domiciled organisation buying Bermudian-based Argo Group in a $1.1 billion transaction, has recorded net income of $140 million (2021: $43 million loss) and $492 mil…

A strong fourth quarter driven by continued underwriting margin improvement has propelled Bermudian-based Everest Re Group to net income of $597 million for fiscal year 2022.
But that was some way shy…

The RG/BSX Index remained unchanged at 2,339.21 after no trading on the main board of the Bermuda Stock Exchange.
Meanwhile, The Bank of N.T. Butterfield & Son Limited lost ground for the day, fal…

Bermudian-based Athene Holding Ltd, the financial services company, has announced a first close for Apollo / Athene Dedicated Investment Program II with approximately $2 billion in capital commitments…

A Dutch fintech firm that recently set up a Bermuda holding company has reported normalised net profit of €150.2 million for fiscal year 2022 (2021: €130.9 million).
Flow Traders is a global financial…

Bermudian Nicole Mitchell has joined the board of directors of Xceedance, the Bermudian-domiciled global provider of digital transformation solutions, technology, and analytical services to the insura…

Brookfield Reinsurance, the island-domiciled organisation buying Bermudian-based Argo Group in a $1.1 billion transaction, has recorded net income of $140 million (2021: $43 million loss) and $492 mil…