Royal Gazette

AM Best has affirmed a financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Harrington Re Ltd.
AM Best has also affirmed the long-term ICR of “bbb-…

The RG/ BSX Index jumped 53.63 points (2.27 per cent) to close at 2,413.97, driven by the trading of 3,076 shares of Bank of N.T. Butterfield Ltd., which closed up a dollar (3.0 per cent) at $34 at th…

Analysts expect a strong financial year from Bermuda registered International General Insurance Co. Ltd., fuelled by factors including excellent underwriting profitability.
IGI and its subsidiaries ha…

Axa XL has promoted Kareen Richardson to head of healthcare in its Bermuda insurance excess casualty business.
Ms Richardson, who has more than 27 years of experience in the insurance industry in both…

Amid highly uncertain market conditions, rating agency AM Best said it is maintaining a stable outlook on the global reinsurance industry, as there are counterbalancing positive and negative factors.
…

Retailers threatened by the rise of e-commerce need the Christmas holiday shopping season more and more to rescue their financial year.
Increasingly, they have welcomed the added feature of the Black …

Bermuda’s entrepreneurial community has been celebrated at the annual BEDC Business Awards.
Presented by the Bermuda Economic Development Corporation, more than 100 people attended the ceremony hosted…

The RG/BSX Index rose 9.54 points (0.41 per cent) to 2,360.34, driven by the only active issue on the Bermuda Stock Exchange for the day.
Argus Group Holdings Ltd., rose 40 cents (7.9 per cent) to $5….

Conduit Re, the Class of 2020 Bermudian-based pure play treaty reinsurer, has appointed Peter Kiernan as head of property underwriting.
Mr Kiernan, currently in the role of head of US property with Ax…

CrossTower, the global crypto currency trading platform with an office in Bermuda, has agreed to acquire Bequant, a leading prime brokerage and digital asset exchange, for an undisclosed amount.
The o…

Cyber-risk modelling company DeNexus has hired Víctor Manuel Aguilar Gutiérrez to increase its reach in Europe, the Middle East and Africa.
DeNexus, a California-based company with a new office in Ber…

Mosaic Insurance is ramping up its global growth plan with the opening of an office in Frankfurt, Germany to meet high demand for cyber and transactional liability coverage through continental Europe….

Some 40 businesses owned by women will offer products and services this week at the Women Owned Wednesday market at the Bermuda Athletic Association gymnasium.
The event, which runs from 6pm until 9pm…

The collapse of Bahamas-based crypto trading platform FTX Trading Ltd has begun to have a direct impact on the fintech sector in Bermuda.
BlockFi International Ltd, the Bermudian incorporated company …

Tax campaigners said a recent Court of Justice of the European Union decision may have weakened EU/OECD anti-money laundering efforts, but the battle over the right to freely access information on ben…

More than half of insurance groups and the broader commercial market plan on using artificial intelligence/machine learning within the next five years, the Bermuda Monetary Authority has reported.
The…

UK business groups have told the government to halt the introduction of the controversial 15 per cent effective minimum corporate tax rate, the Financial Times has reported.
They say Chancellor Jeremy…

The RG/BSX Index was unchanged at 2,350.80, after no Monday trading on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited finished down five cents (0.15 per cent) at $33.85 on …

Digicel’s Christmas cheer for eligible Prime Ultra Bundle customers is 10GB of data every month through 2023.
Digicel said apart from more data, it means more speed and reliability, more minutes, rew…

A public relations firm is offering media services to small businesses at a reduced Black Friday rate.
Mikaela Ian PR, a finalist for the 2022 Bermuda Economic Development Corporation Start up of the …

The collapse of Bahamas-based crypto trading platform FTX Trading Ltd has begun to have a direct impact on the fintech sector in Bermuda.
BlockFi International Ltd, the Bermudian incorporated company …

Shoppers hit the streets of Hamilton on Black Friday with an appetite to spend, a leading retailer said last week.
Nicole Warren, general manager at Brown and Co and 59 Front, said: “We had an encoura…

The European Union is still mulling this month’s landmark ruling by the European Court of Justice that EU law does not permit beneficial ownership information to be freely available to the public.
The…

The United Nations Environment Programme’s Principles for Sustainable Insurance initiative is this week scheduled to give a progress update on the Sustainable Insurance Facility, an initiative to deve…

Bermudian-based Sompo International Holdings Ltd has appointed Glen Bronstein as executive vice-president and head of insurance claims for the North America Region – Bermuda, Canada, Mexico and the Un…

Axa XL has appointed Vanessa Leemans as head of cyber, UK & Lloyd’s, effective immediately.
Ms Leemans will be responsible for leading Axa XL’s cyber business in the UK and driving its strategic, …

Rough seas apparently make for smooth rum.
Gosling Brothers Limited has introduced the wine and spirit merchant’s first ocean-aged rum – Spirited Seas.
The experimental rum was aged across the Atlanti…

Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has reported a net profit of $11.6 million for the third quarter of the year.
That compare…

This is an updated article on being thankful and having gratitude – originally written in November 2007.
That year of 2007 was a time of serious financial concerns, capital markets were headed into se…

Christmas is supposed to be a season full of joy. And sometimes, you have to be intentional about protecting that joy.
One thing that instantly puts the spirit of the season at risk is comparison, be…

The RG/BSX finished the week off by 5.83 points (0.24 per cent) at 2,350.80, with declines leading advances two to one, with the only two trade issues on Friday dropping the market 32.64 points or 1.3…

Markel International has announced plans to merge its professional and financial risks division with its recently expanded cyber team.
Markel International’s managing director of wholesale, Andrew McM…

The RG/BSX Index remained unchanged for the day, standing still at 2,383.44, in the absence of trading on the Bermuda Stock Exchange.
Meanwhile, the Bank of N.T. Butterfield & Son Limited fell 13 …

The Bermuda Economic Development Corporation is calling for retailers and shoppers alike to participate in Cyber Monday.
“This year we anticipate and encourage the participation of a larger-than-ever…

A spokesman for Burrows Lightbourn has confirmed that Frank Amaral has become its new chief executive officer.
His first day of work at the company was on November 21.
He was previously chief executiv…

Wista Bermuda, the local chapter of the Women’s International Shipping & Trading Association will take advantage of the Wista International programme development for two initiatives aimed at suppo…

Niall Sheehy has replaced Frank Amaral as the chief executive of One Communications.
Mr Sheehy took over the role on November 1 after Mr Amaral retired from the telecommunications sector.
He has more …

This month, Rinelle White, of Umami Bermuda, has handed out more than 250 free samples of her spice blends, and plans to offer more in the coming weeks.
Her goal is to make converts of the “spice aver…

Niall Sheehy has replaced the retiring Frank Amaral as chief executive officer of One Communications.
Mr Sheehy took over the role on November 1.
He has more than 20 years experience in executive lead…

The Bank of Butterfield closed down 13 cents to $33.65 on the New York Stock Exchange.
Trading was relatively light at 68,020 shares. No shares traded on the Bermuda Stock Exchange and the Royal Gaze…

Bermuda is on track for a good year in terms of insurance company registrations.
Statistics newly released by the Bermuda Monetary Authority reveal there have been 63 new registrations to date includ…

As the new assistant commissioner for investigations, Christopher Moulder will be instrumental in protecting the public from harm, the Privacy Commissioner said today.
Mr Moulder will have varied resp…

International specialty insurer and reinsurer, Axis Capital has made a $15,000 donation to the educational nonprofit, Peak Potential Bermuda, for Scholars Bermuda, a learning centre that offers tutori…

Bermuda-based captive insurance company Transmonde Services Insurance Company Ltd has had its financial strength rating of A affirmed by ratings agency AM Best.
Best has also affirmed Transmonde’s lon…

The Bermuda Monetary Authority has cancelled the registration of HBC Management Limited.
The BMA said HBC was registered as a non-licensed person on November 20, 2019 under the provisions of section 1…

Captive insurers are beginning to play a vital role in closing the climate risk-related protection gap, a new report by the Bermuda Monetary Authority reveals.
The BMA Captive Report 2021 is based on …

The RG/BSX Index rose 26.82 points (1.14 per cent) to 2,383.44, moved higher by the Bank of N.T. Butterfield Ltd. which rose 50 cents (1.5 per cent) to $33.00 after 1,170 shares changed hands on the B…

MS Reinsurance, the global reinsurer, has appointed Marlin Ramlal as senior underwriter, property.
Based in Bermuda, Ms Ramlal will join MS Reinsurance next Monday and will report to Andrew Shaw, lead…

The Bermuda Business Development Agency’s second annual Bermuda Risk Summit is to be staged in March, with two headline sponsors already on board.
Themed ‘Innovation, Sustainability and Collaboration’…

The European Union Court of Justice has today struck down an European Union mandate for public registers of beneficial ownership of all companies.
In a strong affirmation of the position taken by Berm…