Royal Gazette

The majority of investors surveyed in an EY survey believe alternative asset fund managers are delivering value in volatile financial markets through positive short-term performance and promising long…

Insight into the overall health of Bermudian businesses is to be revealed in a presentation by the Bermuda Chamber of Commerce.
The results of the Business Barometer Survey commissioned by the Chamber…

Darag Group, the international legacy acquirer, has appointed Laura Pearson as head of M&A (UK), effective February 1.
Ms Pearson joins Darag from her role as a senior manager in PwC’s deals advis…

Paul Eaton has been appointed as the new chief executive officer of Artex International.
He succeeds Nick Heys, who has transitioned to become the chairman of the organisation.
Mr Eaton, who is based …

A former general manager of Elbow Beach Hotel has been appointed as managing director, platform head at US-based LW Hospitality Advisors.
Edward Shapard, who is based in Aspen, was GM of Elbow from 20…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has appointed Paul O’Neill as president of Commercial Lines, Insurance, Asia Pac…

Rugged Rentals will offer nearly a third of its fleet to long-term rentals, including monthly contracts for its new Gem fleet, as of February 1.
The company is offering the pilot programme to determin…

As befits the owner of a business called Zen Crystals Bda, Kim Lawrence was pretty chill after being voted Female Entrepreneur of the Year for the second time in three years.
“I have to be very relaxe…

Three federal agencies in the US have suddenly issued a wide-ranging warning on the dangers posed to banks by cryptoasset risks.
The Board of Governors of the Federal Reserve System, the Federal Depos…

The RG/BSX Index closed unchanged at 2,317.69 on the Bermuda Stock Exchange Wednesday.
The day saw 1,002 shares of BF&M Ltd change hands having a value of $21,042 or $21 per share.
Overseas, the B…

Arch Insurance Canada Ltd, a wholly-owned subsidiary of Bermudian-based Arch Capital Group Ltd, has promoted Jean-Pierre Galipeault to president and chief regional executive.
Mr Galipeault joined Arch…

Rims, the risk management society, has announced that Jennifer Santiago will lead the organisation as president for the 2023 term.
Ms Santiago is the director, risk management & safety at Wakefern…

Chubb, the world’s largest publicly traded property and casualty insurance company, has launched a new global climate business unit.
The company said the unit will draw on the company’s extensive tech…

Bermudian-based Fidelis Insurance Holdings Limited has completed the transaction creating a new managing general underwriter separate from FIHL and the existing insurance companies (the Fidelis Insura…

Tourism-dependent retailers are salivating over a record number of cruise calls expected to hit Bermuda ports in 2023, starting today.
After years of slowdowns, lockdowns and shutdowns impacting their…

Entrepreneur Alyson Thompson has closed Cedarberry Foods, the business venture that produced plant-based butter and nog.
Ms Thompson paid tribute to her customers in a Facebook post on the Cedarberry …

AXA XL Insurance has promoted Cheri Hanes, formerly subcontractor default insurance construction risk engineering manager, to vice-president, head of innovation and sustainability for its North Americ…

The RG/BSX Index closed unchanged at 2,317.69 on Tuesday with no trading on the Bermuda Stock Exchange.
Overseas, the Bank of N.T. Butterfield & Son Limited was up 37 cents (1.24 per cent) to clos…

Bermudian George F Hutchings is stepping down as chief operating officer of Everen Limited on April 1, the company has announced.
Mr Hutchings, who will retire at the end of 2023, will remain at Evere…

Insurance industry veteran Don Bailey has joined American International Group as global head of distribution and field operations.
He reports to Peter Zaffino, chairman and chief executive officer.
Fo…

Jon Burull has been named president and chief executive officer of Watlington Waterworks Limited.
Mr Burull, formerly the chief operating officer of Bermuda Waterworks Limited, succeeds Allan Rance, w…

The Bermuda Economic Development Corporation has launched a programme to help the island’s food entrepreneurs to operate their businesses in fully-licensed, commercial kitchens.
The BEDC said the goa…

Due to an almost unprecedented barrage of restrictive Federal Reserve monetary policies, stock and bond prices plummeted throughout 2022. The past year’s Fed policy initiatives included seven large in…

The January 1 renewals have proven to be one of the most challenging reinsurance markets the sector has experienced as reinsurers and cedents worked to establish a new market equilibrium, a leading gl…

If you’re going to adopt only one resolution for 2023, this should be it: taking care of yourself for better career, family and finance management by improving your knowledge base with lifelong learn…

So, you’ve made a resolution to take control of your money this year – that’s amazing. A huge part of building new habits in any area of your life is just deciding you’re going to do it, so you’ve alr…

The redomiciliation of a major tanker company from Bermuda to Cyprus is effective.
The company, which is engaged primarily in the ownership and operation of oil tankers and product tankers, was former…

Darag Group, the international legacy acquirer, has concluded a reinsurance agreement with a large US carrier.
The transaction, written into Darag Bermuda, had a value at the reference date of approxi…

A long-time member of the board of directors of Everest Re Group Ltd, the Bermudian-based global re/insurer, has died.
The company said John Arthur Weber passed on December 25.
“It has been an honour …

American Overseas Group Limited, the Bermudian-based holding company, has reported a consolidated net loss available to common shareholders of $0.4 million for the three months ended September 30.
Thi…

The next step of a pilot programme using digital tokens to benefit vendors and residents has been delayed, the Ministry of Finance confirmed.
The Digital Stimulus programme, announced in September 202…

Insured losses from Winter Storm Elliott are estimated to be $5.4 billion across 42 US states, a leading catastrophe risk modelling organisation has said.
Karen Clark & Company said its winter sto…

A Bermudian-based company is helping to fund the $1 billion-plus acquisition of one of Australia’s oldest mines.
Osisko Bermuda Limited, a subsidiary of Montreal-headquartered Osisko Gold Royalties Lt…

The RG/BSX Index closed unchanged at 2,424.96 with no trading on the Bermuda Stock Exchange.
Overseas, The Bank of N.T. Butterfield & Son Limited was up 65 cents (2.20 per cent) to close at $30.20…

Your internet bill is going up.
Monthly charges for its FibreWire internet plans will increase on February 1, One Communications has announced.
The telecommunications company said the monthly price in…

Self-care is all-important during stressful times, the owner of Bermuda’s newest wellness and spa operation says.
Poinciana Wellness and Spa opened in July on the second floor of the Maxwell Roberts B…

Bermuda’s flagship shopping centre, The Washington Mall, is staging a comeback.
The commercial property’s owners, Washington Properties (Bermuda) Limited, are upbeat, expecting significant improvement…

One of Bermuda’s iconic tourism properties has been featured in a top 25 holiday traditions and spectacular displays list compiled by an international hotel organisation.
Hamilton Princess & Beach…

Asia Pacific Wire & Cable Corporation Limited, the holding company incorporated in Bermuda, has reported net income attributable to APWC shareholders of $0.6 million for the first nine months of 2…

One of Bermuda’s iconic tourism properties has been featured in a top 25 holiday traditions and spectacular displays list compiled by an international hotel organisation.
Hamilton Princess & Beach…

The RG/BSX Index closed unchanged at 2,424.96 with no trading on the Bermuda Stock Exchange.
Overseas, The Bank of N.T. Butterfield & Son Limited was down 24 cents (0.81 per cent) to close at $29….

Holiday season shoppers were bargain hunting in these tough economic times, a leading retail boss said.
George Grundmuller is the president and chief executive officer of The Phoenix Stores Limited, w…

A former Bermuda financial regulator has called for a halt to the licensing of crypto currency exchanges until they resolve issues of corporate structure and client asset protections.
Writing an opini…

A wine-based investment group, based in Bermuda and England, has been accused of impropriety by an investor and appeared to be insolvent by at least £7.8 million, it has been reported.
But a spokesman…

Leading offshore drilling contractor, Seadrill Limited, will continue to be Bermuda domiciled after its impending take over of its former subsidiary, Aquadrill, the company has said.
The deal is expec…

Darag Group, the international legacy acquirer, has appointed Till Mathis Wagner as head of M&A, Europe.
His appointment will come into effect in Q1 of 2023.
Mr Wagner joins Darag from Guy Carpent…

BMS Group, the independent specialist re/insurance broker with an operation in Bermuda, has announced that a definitive agreement has been entered into with Eurazeo, the global investment company head…

The stereo set: a hypothetical family narrative from earlier decades

He must have had his eye on it for months; he talked about getting one incessantly. How he could use it to play in his room. H…

‘Twas the market before Christmas,
And it’s time to review
The significant events of 2022.
The Federal Reserve is taking great care
To stamp out inflation everywhere.
The surge in inflation created su…

Dear Dave,
I’m 32 and a teacher. My house is my only debt, and there’s $55,000 left on my mortgage. My parents always taught my brother and I about saving and being smart with money. The other day, mo…