Royal Gazette

Dear Dave,
I’m hearing more and more about “de-dollarisation” and how several countries are moving away from the US dollar as their basis of international trade. Will this affect the strength of the d…

In 1951, a seriously ill young Black woman, Henrietta Lacks, from a small town named Turner Station (now Dundalk), Baltimore County, Maryland, went to Johns Hopkins, one of few hospitals in the area …

The RG/BSX Index rose 15.09 (0.71 per cent) to close at 2,125.00 after 12,100 shares, valued at $106,965.00, traded on the Bermuda Stock Exchange.
This included 400 shares of Bank of N.T. Butterfield …

Bermudian-based Fortitude Re has opened a representative office in Tokyo and appointed Hajime Kawafuji as its chief representative.
The company said Mr Kawafuji is a leader in the Japanese business co…

The next stop for the Bermuda Business Development Agency is Toronto, building on earlier promotional work accomplished in September, David Hart, the agency CEO has said.
He said it was an opportunity…

Bermudian entrepreneurs Gina Spence and daughter, Isis Benjamin, need $450,000 to scale up their Florida-based business House of Isis.
And they think people back at home in Bermuda can help them do th…

The Bermuda Business Development Agency is positioning Bermuda as a world capital for climate risk finance, based on the island’s international markets for re/insurance, Insurance-Linked Securities an…

The RG/BSX Index was unchanged on Thursday in the absence of any trading on the Bermuda Stock Exchange, closing at 2,109.91.
Meanwhile on the New York Stock Exchange, the Bank of N T Butterfield fell …

Brookfield Reinsurance, which is buying the Argo Group for $1.1 billion, has reported a net loss of $93 million for the first quarter of the year (Q1 2022: $156 million).
Brookfield said the loss was …

Digicel Bermuda has transformed its retail store into a carnival extravaganza, to bring Carnival 23 to the heart of the city.
Revel the Retail drew crowds a week ago to join in festivities. The sixth …

Axis Capital Holdings Limited, the Bermudian-based global specialty underwriter, has created two new leadership positions within its specialty insurance business.
Mark Gregory has been appointed as he…

Bermudian-based Maiden Holdings Limited has reported a net loss attributable to Maiden common shareholders of $11.3 million for the first quarter of 2023.
That compares to net income available to Maid…

Mosaic Insurance, the Bermudian-based global specialty insurer, is underwriting primary cyber insurance globally, offering $20 million in capacity across its network of underwriting hubs.
It launched …

Teekay Tankers Ltd, the Bermudian-based owner and operator of mid-sized crude oil tankers, has reported GAAP net income of $169.4 million in the first quarter of the year.
Teekay posted net income of…

Fortitude Re this week celebrated the completion of a $2 million renovation project at their Chesney House, Pitts Bay Road headquarters.
They marked the modernisation of their open-plan workspace with…

For ZipX, business has been going in one direction since the pandemic began – up.
“We have seen a steady increase in volume in not only shipments, but also in weight over the last year,” said IBC/Zip…

Uncertainty surrounds the future business prospects for a Bermuda reinsurer and its long-troubled American insurer after recent regulatory and credit rating action, AM Best has concluded.
And the rati…

The RG/BSX Index was unchanged on Wednesday closing at 2,109.10 with 2,400 shares changing hands on the Bermuda Stock Exchange at a value of $22,200.
Of those shares, 2,000 were Argus Group Holdings w…

The news that Digicel intends to raise their Bermuda internet rates was a cause of concern among some subscribers.
But some have raised further alarm because of Regulatory Authority requirements t…

Polaris Holding Company Limited has increased the security of the operations of a company unit through two transactions, acquiring one property and disposing of others.
The company said it has complet…

The Department of Workforce Development has unveiled updates and improvements to the Bermuda Job Board online that government says will enhance the user experience and make the site more productive.
T…

Seven associates at The MarketPlace have been selected to participate in Pathways to Leadership, the organisation’s leadership and development programme.
The second cohort of the programme includes Ja…

Mosaic Insurance co-CEO Mitch Blaser and the specialty insurer’s global head of cyber Yosha DeLong led expert panels at an inaugural forum of US government and industry cybersecurity leaders hosted by…

Bermudian-based Assured Guaranty Ltd has reported net income of $81 million in the first quarter of 2023, compared to $66 million in the 2022 first quarter.
But revenue was down by $133.00 million fro…

Ratings agency Standard & Poor’s has reaffirmed Bermuda’s A+ Sovereign Credit Rating and Bermuda’s A-1 short-term rating and its AA+ transfer and convertibility assessment.
S&P also maintained…

A Coinbase executive has assured Americans that the crypto firm is not moving offshore, despite receiving a license from the Bermuda Monetary Authority this month.
But he made the case for using a Be…

The RG/BSX Index was unchanged on Tuesday in the absence of trading, closing at 2,109.91.
Meanwhile the Bank of N.T. Butterfield & Son closed up 26 cents (1.08 per cent) on the New York Stock Exch…

Bermudian-headquartered Ardmore Shipping Corporation, which owns and operates product and chemical tankers, has reported a first quarter turnaround year-over-year, recording net income of $43.3 millio…

White Mountains Insurance Group Ltd, the financial services holding company domiciled in Bermuda, has reported comprehensive income attributable to common shareholders of $180 million in the first qua…

Argo Group International Holdings Ltd, which has agreed to be sold to Brookfield Re later this a year, reported its 2023 first quarter loss widened to $36.4 million.
Argo, a Bermuda-based specialty …

Google Pay, the contactless payment option, appears to be on the near-term horizon for Butterfield Bank clients in Bermuda.
Google Pay allows consumers to pay for products and services with their smar…

A fintech firm that promised to create a global compliance base in Bermuda and invest millions in the island is in the news again.

Reuters is reporting that Israel has seized around 190 crypto acc…

The US Securities and Exchange Commission has been ordered by a US court to respond expeditiously, after a complaint from the cryptocurrency exchange Coinbase that the SEC needed to explain how it app…

Brookfield Renewable Partners LP has reported funds from operations of $275 million or $0.43 per unit for the first quarter of the year, a 13 per cent increase on a per unit basis over the same period…

Palomar Holdings Inc, the parent company of Palomar Specialty Reinsurance Company Bermuda Ltd, has reported net income of $17.3 million for the first quarter of 2023.
That compares to net income of $1…

Bermudian-based Triton International Limited, the world’s largest lessor of intermodal freight containers, has reported net income attributable to common shareholders for the first quarter of 2023 of …

First-quarter results from Bermuda-based AIG show their general insurance adjusted pre-tax income increased by $37 million to $1.2 billion from the previous quarter.
AIG chairman and chief executive o…

Heightened demand due to a lack of rain on the island helped Watlington Waterworks Ltd to record net earnings of $2.25 million for fiscal year 2022, a jump of 26 per cent over the prior year.
Total re…

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has reported net income dropped 37 per cent to $170.8 million for the first quarter of the year.
That compares to net income of $274.2 m…

May is financial fraud month. Readers, you need to pay attention and understand how to protect yourself and your family from cybercrime attacks and losses. And it is not just affecting you, but consis…

The RG/BSX Index was down 1.19 (0.05 per cent) for the week, closing at 2,109.91 after the trading of 38,317 shares, valued at $517,226 on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield Ltd….

The chief executive officer of the Bermuda Business Development Association called the latest Rims’ Riskworld Conference “another great business development mission” for the island.
After the Tuesday …

The Bermuda Economic Development Corporation has partnered with the Global Atlantic Re Foundation to provide its programme participants with $150,000 a year in capital grants.
These grants will be iss…

Coinbase Global Inc, the US-based parent company of Bermuda’s newest crypto currency exchange, has reported a net loss of $79 million for the first quarter of 2023.
That included a $144 million restru…

CedarBridge Academy won $10,000 for their school when their team, the StockXers won, this year’s KPMG Senior School Investment Challenge.
The school is free to use the money any way they wish.
In the …

Shannon Lowry Bender, deputy chair of the Association of Bermuda Insurers and Reinsurers’ policy committee, is to represent the island’s leading international re/insurers at the National Association o…

Th RG/BSX Index fell 26.82 points (1.26 per cent) on Thursday closing at 2,109.91 with 17,617 shares changing hands at a value of $261,251 on the Bermuda Stock Exchange.
Of that, 7,305 were Bank of N …

Bermudian-based re/insurer SiriusPoint Ltd has reported its first positive quarter in nearly two years with net income available to the company’s common shareholders of $139 million in the first quart…

Positive investment results have propelled Bermudian-based insurer Enstar Group Ltd to net earnings of $424 million in the first quarter of the year, the company has reported.
That compares to a net l…

Market forces pressured the Hiscox Re & ILS division of the international specialist insurer, Hiscox Ltd., according to a trading statement for the first three months of the year to 31 March.
Favo…