Royal Gazette

Flex LNG Ltd, the liquefied natural gas shipping company based in Bermuda, is expected to see revenue increase by more than 6 per cent year-over-year in 2023.
Oystein M Kalleklev, chief executive of F…

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I live in Dallas, Texas, and I’m wondering if I should sell my condo in order to pay off debt. I owe $120,000 on it, and it’s worth around $260,000. Plus, the homeowners association fee use…

Tawana Tannock, managing director of Skuld Mutual Protection and Indemnity Association (Bermuda) Ltd has been elected as president of the board of directors of Hydra Insurance Company Limited, the cap…

Miami International Holdings Inc, parent company of the Bermuda Stock Exchange, has completed the acquisition of LedgerX LLC from Ledger Holdings Inc in connection with the bankruptcy proceedings of F…

Jardine Matheson Holdings Limited, the Hong Kong-based Bermuda-domiciled British multinational conglomerate, has reported a strong overall 2023 first quarter performance, improved from Q1 2022.
A fili…

The Association of Bermuda International Companies has received a record number of applications for scholarships, the most in the 46-year history of the Abic Education Awards.
Recipients will be selec…

Natural beauty care business Cassine has started a campaign to support the PHC Majorettes and Drum Corps, an icon of the annual Bermuda Day Parade.
“Our campaign is to celebrate beauty and Bermudian c…

Bermuda data centre provider QuoVadis has announced the appointment of a new cybersecurity engineer in its expanding infrastructure team.
Jarryd Simmons will drive the execution of QuoVadis’s network…

Atlantic Gas has sold its fixed assets to Bermuda Gas. These assets include bulk LPG tanks, 100lb residential cylinder tubes, and 17lb BBQ composite cylinders that are installed at various residential…

The Butterfield banking centre at 65 Front Street in Hamilton is to reopen on Monday following a complete renovation.
The bank said its Reid Street banking centre will be closed permanently on the sam…

Bermudian-domiciled Monument Re’s Luxembourg subsidiary Monument Assurance Luxembourg SA has reached an agreement with Integrale Luxembourg to acquire its closed book portfolio of long term life insur…

Conduit Holdings Limited, the ultimate parent company of Conduit Re, has reported huge growth to its premium writings in the first quarter of 2023.
Issuing a trading update, it said Conduit Re, the pu…

Axis Capital Holdings Limited, the Bermudian-based global specialty underwriter, has appointed Rebecca O’Kill as chief data and analytics officer.
Ms O’Kill will report to Axis chief underwriting offi…

Arthur J Gallagher & Co’s captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions Inc, has acquired Dublin-based Allied Risk Management.
Allied Risk provides insurance and…

Everest Re Group Ltd, the soon-to-be rebranded Bermudian-based re/insurer, is seeking to raise nearly $1.5 billion in growth capital in advance of the midyear reinsurance renewals.
Everest has priced …

When Warrel Jeffrey launched a Jamaican coffee import business, he felt as if he had leapt into the water without knowing how to swim.
Everything from business mark-ups to the Transport Control Depart…

A year into the age of electric buses for Bermuda, a company consulting with the Government has revealed the arrival of 40 more buses in July to add to the 30 that have been on the road since April 20…

A renewable energy company with a “sell to give” business model is doubling down on its efforts to support registered charities on the island.
Sunny Side Solar has launched a programme that sees the c…

Seven participants in Bacardi Limited’s Shake Your Future professional bartending programme have returned from a four-week training stint in London, and are set to begin work placement opportunities w…

The RG/BSX Index closed down 1.44 points (0.07 per cent) on Wednesday, ending the day at 2,123.56 with $130,209.20 worth of shares trading.
It was a busy trading day, with 5,268 BF&M shares finish…

Howden, the global insurance group, is to unify its structure under a single global executive, with insurance broking, reinsurance broking and underwriting reporting directly to David Howden, the chie…

LOM, the international financial services company, has reported full year 2022 profits of $1,883,951 or $0.37 per share.
This decrease from the more than $9.5 million profit declared in 2021 is due t…

Surface Trends Ltd, the stone and tile contractors, have established Landscape Trends, a new design and build landscape company.
Jeff Sousa has joined as Vice President of Operations at the new subsid…

Security Associates Limited has promoted two members of its security training centre team.
Caleb J Crockwell becomes training and compliance officer and Ivan Outerbridge becomes lead training and comp…

The Bermuda Economic Development Corporation will be shedding light on small business debt in a free webinar series launching later this month.

Demystifying Debt: Building a Solid Foundation for S…

Mike Swan hopes to have 60 electric vehicles in his rental fleet at Localmotion Ltd on Happy Valley Road in Devonshire by next year.
“We are at 15 micro cars, and will be at 19 by July,” Mr Swan said….

Golden Ocean Group Limited, the world’s largest listed owner of large size dry bulk vessels, has posted a net loss of $8.8 million for the first quarter of 2023, after earning $68.2 million for the fo…

The Bermuda Monetary Authority confirmed the registration of five insurers in April, taking the yearly total to 19.
The BMA approved two Restricted SPI insurers — Purple Re Ltd and Bayou Re Ltd — as w…

Paysafe Limited, the Bermudian-incorporated specialised payments platform, has reported a net loss for the first quarter of $3.8 million.
That compares with a loss of $1.17 billion in the prior year q…

International General Insurance Holdings Ltd. has begun 2023 with a first quarter profit of nearly $40 million, an improvement over the same period to March 31, 2022.
IGI Chairman and CEO Mr Wasef Jab…

Law firm MJM Limited has promoted Mark Adams to the position of counsel.
Mr Adams’ practice, within the Corporate and Finance Team, focuses on all areas of corporate, finance and banking law.
His ext…

Bermudian-based Flex LNG Ltd, the liquefied natural gas shipping company, has reported net income of $16.5 million for the first quarter of 2023, a drop compared to net income of $41.4 million recorde…

Bermudian-based Vantage Group Holdings Ltd has appointed Richard Wall as head of US financial lines.
Mr Wall will be based in Connecticut and report to Alex Blanco, Vantage’s chief executive, insuranc…

Beth Boucher has been appointed as an independent non-executive director at Hiscox Ltd, the Bermudian-based international specialist insurer.
The company said the appointment is subject to regulatory …

Gross written premium is soaring for Convex Group Limited, the Bermudian-based international specialty re/insurer.
The company wrote 2022 GWP of more than $3 billion, up 43 per cent from $2,115 millio…

The increase in online shopping has meant an explosion in the courier business volume.
The percentage of overseas purchasing imported through courier companies continues to rise, as the total retail i…

Digital asset business publications are increasingly citing Bermuda‘s regulatory leadership, including articles this week pointing to the island as a viable home for cryptocurrency business.
One publi…

Legislation governing the island’s insurance sector is to be amended to empower the Bermuda Monetary Authority to require commercial insurers to develop a recovery plan.
The Insurance Amendment Act …

First quarter net profit at Bermudian-based SFL Corporation Ltd has plummeted year-over-year – from $47 million in 2022 to $6.3 million this year.
SFL, one of the world’s largest ship-owning companies…

The RG/BSX Index closed unchanged at 2,125.00 upon no trading on the Bermuda Stock Exchange on Monday.
The Bank of NT Butterfield & Son Ltd closed up 43 cents (1.82 per cent) at $24.10 on the New …

David A Brown has been appointed to the role of chairman of the board of directors at Hamilton Insurance Group Ltd, the Bermudian-headquartered global specialty re/insurer.
Mr Brown, a long-standing m…

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit ratings of “a” (Excellent) of Nectaris Re Ltd, the operating subsidiary of Nectaris Holdings Ltd, bo…

A series of safety training seminars were featured as Bermuda’s electricity provider held the company’s annual Occupational Health, Safety and Environment Day.
Belco said OHSE Day was held this year w…

Issues such as soaring wholesale food costs have struck restaurants hard, forcing menu price adjustments. And it is not just a Bermuda problem.
On both sides of the Atlantic the complaints are loud, w…

Bermudians pay more for internet than almost anyone else on the planet, a recently published UK study of 219 countries has found.
Cable.co.uk creates databases to allow UK buyers to compare broadband,…

AM Best, the credit-rating agency has expressed confidence in a Bermuda reinsurer, spun off from Athene Holding Ltd. (now Apollo Global Management, Inc.) in 2018.
Athora Life Re Ltd. is now a European…

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Bermudian-based Lumen Re Ltd.
The outlook of these credit ratings is st…

Billionaire Daniel Loeb is “no longer exploring” an acquisition of Bermudian-headquartered global specialty re/insurer, SiriusPoint Ltd.
In a filing on Friday with the US Securities and Exchange Commi…

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