Royal Gazette

The Corporation of St George has launched a social-media campaign to entice new business in advance of new redevelopment expected soon for the old town.
One advertisement raises the prospect of a busi…

AM Best-rated captive insurance companies posted a strong year in 2022, doubling pretax operating income over the previous year and recording the largest premium increase in a decade.
A new Best’s Mar…

The hugely popular holiday destination this summer is the easy-to-reach archipelago comprising Some Day Isle, One Day Isle and After Summer Isle.
Visitors here do absolutely nothing but make the state…

Teekay Tankers Ltd. has been a prime beneficiary of the current market environment, generating substantial free cashflow, president and CEO Kevin Mackay has said.
Mr Mackay said that was because of th…

The odds of winning or losing have existed since humans walked the Earth.
It was an absolute in the prehistoric game of life where any event could turn into a no-choice betting decision. One surmises …

Dear Dave,
My husband recently opened his own commercial painting company. We know he will have three months or so every year when he’s making very little, if any, income. We also started following yo…

A major shake-up for principal figures could be on the cards at Vesttoo, a spokesman has confirmed.
Vesttoo is an Israeli start-up insurtech which uses artificial intelligence technology to connect th…

The Bank of N.T. Butterfield & Son Limited has been notified of an unsolicited offer made by New York Stock and Bond LLC to purchase up to 50,000 of Butterfield’s ordinary shares, or approximately…

Bermudian-based Monument Re’s Belgian subsidiary Monument Assurance Belgium has completed the acquisition of a run-off block of retail life policies, annuities and associated assets from Federale Verz…

Edward Renner has taken on the newly created position of vice-president, senior corporate counsel at Bermudian-based Concert Group Holdings.
Mr Renner is based in Chicago, reporting to chief legal off…

After being hard hit by a wet spring, the Soltrino swimsuit pop-up shop in the Washington Mall in Hamilton, is extending its lease by two months to finally catch the summer rays.
In May alone, Bermuda…

The international specialty insurer and reinsurer, the Convex Group, has delivered a €20 million investment to the Ocean 14 Capital Fund, which is working to clean up and revitalise the world’s oceans…

Prudential Financial’s agreement to reinsure $12.5 billion of in-force guaranteed universal life policies with Somerset Re, is broadly credit neutral over the near term, according to Fitch Ratings.
So…

Bermudian-based firm Vantage Risk, has announced two new appointments.
Dan Reichert is now vice-president, west distribution leader and Leanne Berry is vice-president, central distribution leader.
Mr …

The RG/BSX Index finished unchanged yesterday at 2,340.31 with no shares changing hands on the Bermuda Stock Exchange.
Meanwhile on the New York Stock Exchange, the Bank of N T Butterfield & Son c…

Mosaic Insurance has secured strategic investment from two US growth-capital providers to drive the specialty insurer’s talent acquisition and product development.
Alternative asset manager Atalaya Ca…

Bermudian-based PartnerRe is bouncing back, with net income attributable to common shareholders of nearly $783 million for the six months to June 30, after a more than billion dollar loss in the compa…

The Bermuda platform of a financial services company may have been spared as the hammer fell on offices in three Asian cities for the fintech company Vestoo.
The company said Tuesday it was laying off…

Paul Moniz has been appointed operations manager at the logistics and container management company, Stevedoring Services Ltd.
SSL is a subsidiary of Polaris Holding Company and operates Hamilton Docks…

A round table brought together business and government to discuss the future of fintech on the island.
Among the topics on the agenda were a wallet with Bermuda dollar-denominated stablecoins; more m…

LOM Financial reported a more than doubling of net earnings in the first half, as interest income rose dramatically and foreign exchange losses decreased.
In the January-to-June period, the company r…

Bermuda-incorporated Valaris said it has been awarded a 12-well contract offshore West Africa for its Valaris DS-7.
The Marshall Islands-flagged drillship is being reactivated for the job.
Valaris exp…

The Bank of NT Butterfield & Son reported $61.0 million of net income in the second quarter 2023, up from $49.1 million in the second quarter 2022.
Interest income rose while non-interest income f…

The RG/BSX Index rose 53.63 (2.35 per cent) to close at 2.340.31, as Butterfield Bank finished a dollar higher (3.2 per cent) on Monday at $32 on a trading volume of 100.
There was no other activity o…

The Bermuda life reinsurer owned by the investment arm of one the largest pension funds in the world has maintained its strong credit ratings in the latest review.
Fitch Ratings has affirmed Wilton Re…

SiriusPoint’s Life Reinsurance Team has partnered with insurance and healthcare technology platform WaterDrop, managing general agent and employee solutions provider Further Group, and China Pacific H…

A number of Bermudian-listed and domiciled Jardine companies reported earnings on Friday, with strong indicators of post-pandemic recovery somewhat balanced by sizeable investment losses.
These losses…

Bank of NT Butterfield & Son is introducing a new system for dealing with long lines ahead of the upcoming holidays.
It is called mobile queueing and will be available at the bank’s Front Street b…

Politicians, diplomats and dozens of guests headed east to celebrate the grand opening of LF Wade International Airport’s newest store.
Located on the terminal’s ground level, the new store, Somers I…

Patrick Neal has been appointed chief executive officer of Freisenbruch Insurance Services, effective today.
Michael Freisenbruch will remain president and chairman of the company.
Mr Neal has 18 year…

In the spirit of summer “beach reads”, our next few MOC columns will be dedicated to sharing “Lessons from Lasso”. These are examples from the series Ted Lasso that resonated with me as I watched the …

A discussion breakfast on women’s achievements in the finance sector was held by 100 Women of Finance in Bermuda.
Sinead Donovan, partner and chairperson at Grant Thornton Ireland and president of th…

Bermuda-based Everest Group, a reinsurance and insurance underwriter, reported $1.0 billion of net income in the first half of 2023, up from $420 million in the first half of 2022.
Gross written prem…

It is completely evident. Bermuda’s roads are a mess, badly in need of repair.
Bermuda is a world-class climate risk industry capital, while our infrastructure is starting to resemble a Third World co…

Dear Dave,
My husband and I are having arguments about money where our children are concerned. They are both 16, and I think they should have part-time jobs and be learning the value of work. He feels…

The RG/BSX Index closed unchanged on 2,286.68 on Friday after a day of no trades.
For the week, the index gained 42.91 points, or 1.87 per cent, driven by a 2.6 per cent rise in Butterfield Bank’s sha…

At World Distributors on Dundonald Street on a recent day, two cars sat in the showroom incongruously among scooters.
The vehicles are Neta Vs, manufactured in China and now available in Bermuda.
Th…

Vesttoo, the platform that aims to be the eBay of reinsurance, is working to reassure clients, customers and other stakeholders as those with exposure to allegedly fake letters of credit at the centre…

The Bermuda Foundation for Insurance Studies has awarded $210,000 in scholarship funding to 14 new scholars focused on careers in Bermuda’s insurance sector.
More than 70 guests attended the BFIS scho…

Skyport, operators of the LF Wade International Airport, has made three appointments to its leadership team.
Jaime Dawson, an accomplished human resources professional with a talent acquisition and m…

Mosaic Insurance has welcomed its third year of summer interns, expanding the programme to include five students at its Bermuda, New York, Chicago and London offices.
Meron Simons and Kriston Adams ar…

A report giving Bermuda’s trust industry a high money-laundering threat level is misleading, according to a top industry professional.
Randall Krebs, director and legal counsel at Harbour Fiduciary, s…

Fourteen students have completed a 12-week summer internship programme with the Argus Group.
The internship was designed to give real world experience in various departments across the organisation. …

AM Best has upgraded the long-term issuer credit ratings of Global Atlantic Group from to “a+” from “a”, and affirmed the financial strength rating of A.
The Global Atlantic Group refers collectivel…

Warwick Academy head boy, Kwame Naylor, has received a full scholarship from Axa XL.
Mr Naylor will begin studying at Loughborough University in Britain in September, where he will major in business….

The Senate has approved a Bill that will fine appointed investment fund auditors $25,000 for failing to make required reports to the Bermuda Monetary Authority.
The Investment Funds Amendment Act 2023…

Creators of technology, whether financial services software, biotechnology, data analytics solutions or otherwise, know how extremely expensive those development costs can be.
Entrepreneurs and establ…

Bermudian-based reinsurer Itasca Re will be providing a reinsurance solution for Turkish Airlines.
The reinsurer announced today that it will be reinsuring aircraft non-payment insurance for the fina…

Clarien Bank and N.T. Butterfield & Son will increase their base lending rates by a quarter percentage point following a much-expected announcement from the Federal Reserve that US rates are risi…

The RG/BSX Index closed unchanged on Wednesday at 2,286.68 in the absence of any trading on the Bermuda Stock Exchange.
The Bank of NT Butterfield ended up $1.11 (3.53 per cent) on the New York Stock …