Royal Gazette

R&Q Insurance Holdings Ltd, the Bermudian-headquartered global non-life specialty insurer, has completed the sale of its 40 per cent minority holding in TPM Holdings USA LLC, the New York-based ma…

The Bermuda Monetary Authority has issued guidance notes outlining its expectations for the island’s commercial insurers and insurance groups regarding their management and reporting of climate change…

Almost $2 million in suspected cannabis has been seized, and four people arrested, in a drug bust by police and customs officers.
Officers executed warrants at a Hamilton business as well as homes in …

After 19 years running The Sportseller in the Washington Mall, Sharon Fenn is calling it a day.
The longtime entrepreneur has put the sports equipment, apparel and sneaker store up for sale.
“I am 60,…

The principals of the Bermuda Stock Exchange-listed Shore Capital Group Limited believe the collapse of Silicon Valley Bank and the associated fallout will likely turn the cycle of credit tightening t…

The Royal Gazette/BSX Index fell 9.95 per cent on Thursday, closing at 2,186.35, down 241.71 points.
A total of 33,200 shares changed hands at a value of $373,725.
Of that, 25,000 LOM Financial Limit…

Café Lido restaurant, part of the Lido complex at Elbow Beach, has reopened after a two month closure.
MEF Group said the restaurant has “a refreshed look and an exciting new menu with favourites from…

AM Best has affirmed the financial strength rating of A+ (Superior) and the long-term issuer credit ratings of “aa-” (Superior) of Bermudian-based Arch Reinsurance Ltd and its strategic affiliates.
Co…

Bermuda companies are now able to pay their annual government fees – which are due at the end of this month – online.
A Government spokeswoman said that the yearly filings are now completely paperless…

December 2022 figures show both the sales volume and value for building material stores shot up by more than 30 per cent, when compared with December 2021.
In fact, the sales volume was nearly 80 per …

If you’ve been concerned about Bermuda’s recent dark and stormy nights, Goslings has a twist on the island’s unofficial national rum drink that may warm you up.
It is a new collection of fruit-flavour…

A new waterside restaurant has opened in Hamilton. Déjà View Restaurant and Bar is located at Barr’s Bay Park in the building that housed the Marine Police Unit until 2013.
The owners are Greg de Melo…

The Bermuda Press (Holdings) Limited said it incurred significant legal costs defending freedom of speech and media rights as it continued to restructure operations and reduce expenses to offset the r…

The Royal Gazette/BSX Index was unchanged on Wednesday, for a fourth day in a row, closing at 2,428.06 with no shares trading on the Bermuda Stock Exchange.
Meanwhile, the Bank of N T Butterfield &am…

The Bermuda Bankers Association is warning people to be aware of phishing scams, often going after the most vulnerable citizens.
Phishing is a type of online or telephone scam that targets consumers b…

The Bermuda Press (Holdings) Limited said it incurred significant legal costs defending freedom of speech and media rights as it continued to restructure operations and reduce expenses to offset the r…

Fitch Ratings’ estimates little direct exposure by US insurers in the recent banking turmoil.
And while AM Best agrees, their commentary noted that despite minimal exposure to bonds issued by the now-…

Bermuda-registered International General Insurance Holdings Ltd (IGI) has completed the acquisition of Norway-based managing general agency Energy Insurance Oslo AS.
The transaction included the acqui…

Bob James has been appointed as the new chief operating officer at Lloyd’s.
He has taken on the COO responsibilities from chief financial officer Burkhard Keese.
Lloyd’s said the appointment is subjec…

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has promoted David B. Weinstock to the role of senior vice president, chief financial officer.
Mr Weinstock has served as interim chief fina…

Apex Group Ltd, the Bermudian-based global financial services provider, has announced the planned acquisition of South Africa’s Efficient Group Ltd.
Efficient is the holding company of Boutique Collec…

Two side-by-side properties in a prime Pembroke location are to have new owners.
West Hamilton Holdings Limited, the BSX-listed property holding company, announced that it has entered into an agreemen…

RISCAP Holdings Ltd, a sister company to MoonGate Group Ltd., has acquired the family medical practice of Dr Constance Richards.
The transaction concluded in June 2022 and the practice has recently be…

Amid continuing scrutiny over the government’s digital asset strategy, David Burt, the Premier and finance minister Monday took to the floor of Parliament to strike back at unyielding opposition quest…

The Royal Gazette/BSX Index closed unchanged on Tuesday at 2,428, with 3,153 shares changing hands at a value of $45,030.75.
Of those shares, 957 Argus Group shares changed hands, closing at $5.75 unc…

Two side-by-side properties in a prime Pembroke location are to have new owners.
West Hamilton Holdings Limited, the BSX-listed property holding company, on Tuesday announced that it has entered into …

The Bermuda International Long Term Insurers and Reinsurers organisation is providing young Bermudians with the opportunity to take part in a mathematics tutoring programme at CedarBridge Academy.
Twe…

Lloyd’s of London expects to report a full-year 2022 loss before tax of approximately £800 million, the organisation said in a trading update as it released preliminary figures for the period.
The ful…

Bermudian-based Everest Re Group Ltd has appointed Brent Hoffman as interim general counsel.
He replaces Sanjoy Mukherjee who will be leaving the company to pursue other opportunities effective April …

The Bermuda Monetary Authority confirmed the registration of three insurers in February, taking the yearly total to seven.
The BMA approved two Restricted SPI insurers – First Coast Re IV Ltd and Ligh…

Miller Insurance, the independent specialist re/insurance broker, has appointed Bermuda market veteran David Porter to its team on the island.
Account executive Mr Porter will lead Miller’s casualty o…

The Government tonight said that Bermuda-licensed digital asset companies that were customers of a New York bank shut down by regulators on Sunday were still able to carry on business with a bridge ba…

The RG/BSX Index closed on Monday unchanged at 2,428.06 after a day of no trading on the Bermuda Stock Exchange.
Overseas, the Bank of N T Butterfield & Son Ltd closed down $2.09 (6.95 per cent) a…

Allied World Bermuda has promoted 14 employees, with Colm Singleton, company head,saying they are being recognised for their contributions to the company.
He said: “Allied World has a fantastic team i…

Toby Mason has been appointed chief operating officer at the Bermuda Monetary Authority.
Posting on his LinkedIn account at the beginning of last week, Mr Mason said: “I’m delighted to be at the end o…

Uncertainty seems to surround the future of Bermuda’s fintech aspirations, and the Opposition One Bermuda Alliance this afternoon began asking questions following the latest blow to Bermuda’s fintech …

Butterfield Bank clawed back early losses in its share price today as banking stocks continued to struggle in the wake of the collapse of Silicon Valley Bank and Signature Bank.
Butterfield shares dr…

A fintech company with operations in Bermuda is among the beneficiaries of a move by the US government and American banking regulators to guarantee to cover all deposits in California’s Silicon Valley…

Michelle Cardwell has been re-elected as chair of the Institute of Directors, Bermuda Branch after an agm earlier this month.
She is joined by treasurer Megan Nesbitt and secretary Susie Tindall.
New …

Butterfield Group moved today to clarify that it has no direct banking relationships with the cryptocurrency sector or the venture capital firms that fund them.
Butterfield made the statement in the …

NEW YORK (AP) — The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems i…

WILMINGTON, Delaware (AP) — Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about th…

Global interest rates to combat inflation have now reached a level not seen since the height of 2007, meaning that savings rates and money market mutual funds dividends are increasing, also.
No doubt…

Dear Dave,
How do you handle a situation where someone needs financial help, but has misspent money you have given them in the past? My wife and I have been trying to help a young man we recently met…

Butterfield Group shares plunged a further $2.71 or 8.26 per cent on the New York Stock Exchange as US banking stocks continued to retreat today.
The Bank’s shares closed at $30.09 on volume of 1,022…

Relm Insurance Ltd, the pioneering specialty carrier domiciled in Bermuda, has entered into a strategic partnership with NetDiligence, the cyber risk management firm.
Relm, which serves innovative ind…

Bermuda’s most coveted employer awards are now open to entries.
The 2023 RG Business Top Ten Employers Awards Presented by PwC encourages organisations and companies from all industries to participate…

Planet Math will partner with the Bermuda International Long Term Insurers and Reinsurers organisation on Tuesday to celebrate Pi Day with the island’s primary students.
Biltir said Planet Math has pl…

College students and recent graduates considering career possibilities within the insurance industry can now apply for summer internships with CG Insurance.
The in-person programme introduces successf…

When it comes to climate change, hurricanes are a problem, but humans are a bigger one, a risk expert said at the 2023 Bermuda Risk Summit.
In the Future of Risk Panel on Wednesday, Tom Johansmeyer, …