Royal Gazette

Fresh off an overseas business development mission in Toronto, the Bermuda Business Development Agency is back on the road to Egypt this fall, but first to Singapore this week to meet with strategic p…

Investments expert Caspar Rock gave a “gloomy outlook” on the coming year’s global economy, predicting recession in the developed world.
Mr Rock, chief investments officer at Schroders Wealth Managem…

The RG/BSX Index remained unchanged at 2,375.41, with no activity on the main board of the Bermuda Stock Exchange.
On the New York Stock Exchange, the Bank of N.T. Butterfield & Son Limited closed…

Athlete and junior team coach Eusebio King-Mills became this year’s Validus Re Scholar, when he won a $20,000 scholarship from the firm.
Validus announced the recipients of its annual scholarships on …

The head of the Regulatory Authority has been appointed the chief executive officer of the BAC group of companies.
Denton Williams, who will take up the post next Monday, has also served as chief oper…

Theodora Hand has joined Appleby Bermuda as Head of Employment and Immigration within its Dispute Resolution team.
Prior to joining Appleby, Ms Hand practised at St Philips Chambers in the UK where sh…

After a three year pandemic hiatus, the international law firm, Kennedys’ Hot Topics Seminar returned with a record attendance at the Bermuda Underwater Exploration Institute’s Tradewinds Auditorium.
…

Mike Gazzard has been promoted to Senior Vice President and E&O Product Line Leader of Axa XL’s Bermuda Insurance Professional Lines Team.
Mr Gazzard was previously a vice-president and senior und…

The Bermuda Stock Exchange is launching a new initiative to increase investor resilience and to encourage sustainable finance with listed companies and trading members.
The announcement came as the …

Mosaic Insurance has launched a global environmental liability division, its seventh specialty underwriting unit, to be led by seasoned executive Jim Finnamore.
The company has also hired environmenta…

The Cayman Islands Economics and Statistics Office has estimated an unemployment rate of just 3 per cent in the first half of this year as the vacation destination reopened for tourism, the Cayman Com…

The RG/BSX Index remained unchanged at 2,375.41, with no activity on the main board of the Bermuda Stock Exchange.
In New York, The Bank of N.T. Butterfield & Son Limited rose 16 cents (0.46 per c…

Everest Re Group, Ltd. received top honours at the Inside P&C Honors awards ceremony, including the Hybrid Insurer of the Year award, which is an award that the editors designate to celebrate the …

KPMG has announced a raft of new appointments in addition to the retirement of managing director Damion Henderson, who had been in the role since 2008.
Replacing him are two new managing directors, Br…

Global financial services provider Apex Group Ltd. announced the expansion of its global compliance solutions designed for US investment advisers.
This follows the Apex launch of the service in the Si…

New BF&M Limited group president and CEO, Abigail Clifford has reacted to the confirmation of the Bermuda insurer’s “A” financial strength rating, by rating agency AM Best.

The rating agency a…

Walkers, the international law firm, has increased its Bermuda headcount by 25 per cent in the last 12 months, it said in a press release Wednesday.
The firm said the rapid expansion was required to m…

One day tech wizard Mikado Burchall noticed he had a lot of electronic devices in his home, such as security cameras, light switches and rolling storm shutters, but none of them talked to one another….

John Wasty, Partner and Head of Appleby Bermuda’s Dispute Resolution practice, will speak at The Chartered Institute of Arbitrators’ first-ever Americas Conference Friday in Miami, Florida.
CIArb is a…

The Regulatory Authority is inviting comment on proposed methodologies under consideration for calculating the feed-in tariff.
The FIT is the predetermined rate at which renewable energy is purchased …

The board of directors of Golden Ocean Group Limited has authorised a share buyback programme of a maximum $100 million, to purchase up to an aggregate of 10,000,000 of the company’s common shares for…

The RG/BSX Index rose 24.13 (1.03 per cent) to close at 2,375.41 as one issue traded on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield Ltd. closed at $33.00, up 45 cents (1.4 per cent) after…

AME Life Lux S A will merge into Monument Assurance Luxembourg SA following receipt of regulatory approval from the Commissariat aux Assurances in Luxembourg.
Bermudian-domiciled Monument Re Limited …

Bermuda was formally removed from the grey list by the Council of the European Union today, as it added Anguilla, The Bahamas and Turks and Caicos Islands to the black list.
The Council said in a stat…

The man who brought Arbitrade to Bermuda is fighting two new legal challenges, both filed against him and his company and associates last week in two separate jurisdictions.
The Securities and Exchang…

A half-century-old Bermuda insurer, set up in the 1970s to finance the risks of the world’s oil companies, today faces criticism from climate activists for its backing of the most controversial new oi…

There appears to be some relief in sight for importers and eventually consumers, as there are signs that the costs of containers across major shipping routes are plunging, The Economist is reporting.
…

The RG/BSX Index jumped 131.40 (5.92 per cent) to close at 2,351.27, as one issue traded on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield Ltd. rose $2.45 (8.1 per cent) to $32.55 on BSX tra…

AltFi Capital Management Ltd. has launched AltFi Capital Opportunities Ltd., a Bermuda Professional Class B fund.
Founded and based in Bermuda, AltFi is an alternative investment manager with a speci…

Bermuda resident David Hart was still reeling on Friday, after Hurricane Ian brought catastrophic winds to his home state of Florida on Wednesday.
Mr Hart, chief executive officer of the Bermuda Busin…

A leading catastrophe modeller says Hurricane Ian’s total costs will exceed $100 billion and be the most expensive hurricane Florida has ever seen.
And the Karen Clark & Company flash estimate has…

Senator Lindsay Simmons is doing her bit for Bermuda’s economy, and health, by launching a low sugar, fruit juice business.
At Front Street eatery, Rosa’s – where she is operational manager, drink sal…

Axa XL Reinsurance has appointed industry veteran Mark Twite as chief executive officer, Bermuda.
Mr Twite is to take up his new post on Monday.
In the role, he will be responsible for the strategic g…

A KBRA rating agency report on credit risks suggests that the Federal Reserve’s “near singular focus over the near term on taming inflation runs the risk of overshooting its goal of curtailing demand,…

Planning Factory Bermuda has won a prestigious international award for its design of a bar in the global headquarters of Bacardi Limited.
The LOOP Design Awards, launched in Portugal in 2020, have hon…

The RG/BSX Index plummeted 155.53 points or 7.00 per cent for the week to 2,219.87.
With no trading on Friday on the Bermuda Stock Exchange, the dye was cast earlier in the week as Bank of N.T. Butter…

Alon Neches has been appointed president and CEO of Bermudian-based Fortitude Re.
He will also join the organisation’s board of directors.
Mr Neches succeeds James Bracken, who is stepping down to pur…

The plummeting UK pound may eventually have a beneficial impact on the cost of goods imported to Bermuda but it has not been felt yet, a leading retailer said yesterday.
Tredick Gorham, president of T…

Dianna Armstrong started her business, Make De Run Golf Shop, out of fashion frustration.
She took up golf four years ago, usually playing at Turtle Hill Golf Course at the Fairmont Southampton or th…

Buying your dream home is a huge decision in many of our financial lives. In this, the first of a five-part series in Moneywise, we take a look at what the process entails.
You’ve saved and saved – no…

The RG/BSX Index slumped 155.53 (6.55 per cent) …

Hurricane Ian, which made landfall on Florida’s Gulf Coast and has since been downgraded to a tropical storm, is expected to generate substantial economic and insured losses in affected areas, Fitch r…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has appointed Stefano Chiurlo as head of Accident & Health Europe.
He will b…

The managing partner of Carey Olsen Bermuda has expressed his delight after the law firm was a double award winner in the RG Top Ten Employer of the Year in Partnership with PwC.
Carey Olsen was named…

Adhiraj Maitra has been appointed as group head of sustainability at Canopius Group, the global specialty re/insurer with an operation on the island.
Reporting to Lindsay Astor, chief of staff and hea…

Bermuda market veteran Will Haddrell has joined Bernina Re Ltd as chief underwriting officer, head of US and Retro.
He joins from Kettle, where he served as chief underwriting officer.
Mr Haddrell, 39…

No country in the G20 is decarbonising quickly enough to maintain a safe climate, according to new analysis by professional services firm PwC.
This year’s Net Zero Economy Index shows progress on deca…

Bermuda’s reinsurers have been watching as the killer hurricane Ian marches over Florida after plunging Cuba’s entire population of 11 million people into darkness, collapsing the electrical grid and …

The golden arches have returned to Bermuda – but this time as an insurance entity rather than a place to buy a happy meal.
Fast food giant McDonald’s has moved its global insurance operation to the is…

Carey Olsen Bermuda, the law firm, has topped the charts again at the RG Top Ten Employer of the Year in Partnership with PwC.
This is the 12th year for the awards, which were presented at a breakfast…