Royal Gazette

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…

DHT Holdings Inc, the Bermudian-based crude oil tanker company, has reported net income of $62 million for fiscal 2022 largely owing to a strong fourth quarter.
That compares to a net loss of $11.5 mi…

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 annual budget breakfast hosted by the Bermuda Chamber of Commerce has completely sold out.
The Chamber said the entire complement of 350 seats sold in less than a week.
The event will be held on F…

Bermudian-based energy driller Nabors Industries Ltd has reported a net loss attributable to shareholders for the fourth quarter of 2022 of $69 million.
This compares to a loss of $14 million in the t…

Global executive assistant advocate Melba Duncan will be the main speaker at the Sixth Annual Administrative Professionals Development Conference in Bermuda next month.
The event is usually held in A…

The RG/BSX Index rose 26.82 (1.16 per cent) Wednesday to close at 2,339.21, pushed higher by N.T. Butterfield & Son Limited, which closed at $32.50, up 50 cents (1.6 per cent) on trading of 1,571 …

Bermudian-based energy driller, Nabors Industries Ltd, has reported a net loss attributable to shareholders for the fourth quarter of 2022 of $69 million.
This compares to a loss of $14 million in the…

Argo Group International Holdings Ltd, the Bermudian-based specialty insurer, has entered into a definitive merger agreement with Brookfield Reinsurance that will see the company acquire Argo in an al…

There have been recent indications from the Bermuda Government that Bermuda’s Personal Information Protection Act 2016 may come into full force in May or June.
Since Pipa was enacted in 2016, the Gove…

An executive with a Bermudian-based organisation has been named global chief risk officer at Antares Global, the multinational group of insurance and related service companies.
Faraz Khalid has been t…

The St Regis Bermuda Resort has been named as the best hotel on the island in the annual rankings by US News & World Report.
Rounding out the top five, in order of their ranking, are Rosewood Berm…

An executive with a Bermudian-based organisation has been named global chief risk officer at Antares Global, the multinational group of insurance and related service companies.
Faraz Khalid currently …

White Mountains Insurance Group Ltd, the Bermudian-domiciled financial services holding company, has reported comprehensive income attributable to common shareholders of $40 million and $788 million i…

This month, St George’s entrepreneur Astoria Smith has reason to celebrate.
Exactly three years ago, she opened the eco-conscious spa and boutique Lacquered Lounge on Somer’s Wharf in St George.
Sinc…

The premium power couple have done it again.
Just before Beyoncé won her record-breaking Grammy Award Sunday, her impresario husband, Jay-Z, closed a mega deal with Bacardi, ending a business feud tha…

New mobile communications company Paradise Mobile has named the Texas-headquartered company Mavenir as their technology provider powering a new 4G and 5G network.
The network software company will use…

Entrepreneur Marico Thomas and his Food Hub’s job fair Monday and Tuesday, is being extended to Wednesday.
The goal is to hire 70 Bermudian employees for the organisation’s new drive-through restauran…

Marsh McLennan has donated $10,000 in gifts, operational supplies and food to Teen Haven/Teen Services residents, the company has announced.
Teen Haven’s residential programme offers transitional hous…

Veteran Bermudian lawyer Alex Collis has returned home to join Carey Olsen Bermuda Limited as counsel in the firm’s corporate practice.
The firm said Mr Collis has more than a decade of experience in …

Two Bermudian-based companies are among the new owners of Traxys Group, a Luxembourg-headquartered global physical trader and merchant in metals and natural resources.
An investor group active in mini…

Jason Chlup has joined LOM Financial Group as an investment adviser.
Previously working for one of the largest banks in Africa, LOM said he has more than six years’ experience as a top performing priv…

Jonathan Zaffino has been appointed to the position of group president and chief executive officer at Ascot Group following the retirement of Andrew Brooks from the group CEO role.
Currently group pre…

Bermuda’s electric rental car pioneers will soon add a third model to their fleet.
Current Vehicles is to import the XEV Yoyo, an electric micro car manufactured in Shanghai, China, by Hong Kong-based…

The Government will seek to curb employers improperly classifying staff as “independent contractors”.
The move, the Government said, came as employee benefits are being compromised, leading to dispute…

James Matusiak, a former resident of Bermuda who worked in the island’s professional services and re/insurance industries, has died after a brief illness.
Mr Matusiak, a resident of Frisco, Texas, was…

AM Best has expressed concern with regard to the business profile of Fidelis Insurance Holdings Limited (Bermuda) and related companies, as a result of risks inherent in establishing a new corporate s…

Argo Group International Holdings Ltd has completed its previously announced sale of Argo Underwriting Agency Limited and its Lloyd’s Syndicate 1200 to Westfield.
Under the terms of the sale, announce…

The RG/BSX Index fell 41.24 points (1.84 per cent) to 2,231.95 for the week, as Bank of N.T. Butterfield Ltd. closed down 50 cents (1.6 per cent) at $30.50 after a total of 6,154 of its shares were tr…

The Bermuda Government issued the Pre-Budget Report for perusal and discussion just prior to the 2022 Christmas season at a time of generally serious financial stress, and heightened family holiday ac…

Dear Dave,
I’m single, and I make $35,000 a year. Next year, my salary and bonuses should be around $50,000. I have a little over $30,000 in debt right now, including student loans, and I’m not sure h…

Gallagher Re has joined the Association of Bermuda Insurers and Reinsurers and EY as headline sponsors of the second annual Bermuda Risk Summit presented by the Bermuda Business Development Agency.
Ad…

Bermuda Island Games, the indie game studio, is to offer a six-week course for anyone wishing to learn Adobe Photoshop, Adobe Illustrator and Blender.
The organisation has partnered with Warwick Acade…

There are a few things about The Music Box on Church Street that are missed by the average Hamilton shopper.
Long-time operators Helena and Geneveve Escolastica took over a decade ago when founder Edd…

Bermudian-based Aspen Insurance Holdings Limited has become a signatory of the United Nations-supported Principles for Responsible Investment.
An investor initiative in partnership with the UN Environ…

The RG/BSX Index closed unchanged on Thursday, at 2,231.95, for the third day in a row, as no trades were recorded on the Bermuda Stock Exchange.
Overseas, Butterfield Bank closed up 88 cents (2.72 pe…

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has made two acquisitions that add title insurance and settlement services to its business operations.
The company has entered into an agree…

Vantage Group Holdings Ltd, which is based in Bermuda, has appointed John Flannery as chief marketing and communications officer.
Mr Flannery will be based in New York and report to Greg Hendrick, Van…

Gwen’s Wonderland Nursery & Preschool in Hamilton Parish has closed after 44 years of caring for Bermuda’s children.
Owner Shanda Duncan shut the Radnor Road business on December 30.
“We have prob…

The US Federal Reserve believes it is winning the battle against inflation, but Wednesday imposed yet another hike to the Federal Funds rate – this time a smaller increase of a quarter-percentage-poin…

The RG/BSX Index closed unchanged on Wednesday, at 2,231.95, as no trades were recorded on the Bermuda Stock Exchange.
Overseas, Butterfield Bank closed up 37 cents (1.16 per cent) at $32.33 on the Ne…

BM Corporate Services Ltd and Cohort Limited have merged to operate under the name Cohort Limited.
Cohort’s chief executive officer, Marco Montarsolo said the aim of the merger is to provide a wider a…

A former resident of Bermuda has been appointed chief financial officer at Axa XL Canada.
Patrick Lee, who is based in Toronto, joins Canada’s executive leadership team.
Country manager Renato Rodrigu…