Royal Gazette

The latest financial statements for Bermuda reinsurer PartnerRe report a net loss to common shareholders of $1.1 billion in 2022 due to unrealised losses on fixed maturities and short term investments…

A quiet Tuesday on the Bermuda Stock Exchange left the RG/BSX Index unchanged at 2,187.54, with no stocks trading.
The Bank of N.T. Butterfield & Son Limited finished the day on the New York Stock…

Employees of One Communications, the telecommunications company, are volunteering at Meals on Wheels throughout March, helping to prepare and pack food for delivery.
The company said the initiative is…

A men’s clothing store in Hamilton is to close at the end of this month.
MenCo, on Burnaby Street, is having a closing sale with goods available for 30 to 75 per cent off.
Owner Janika Fields relocate…

The Bermuda Economic Development Corporation will offer a seminar designed for business owners, entrepreneurs, and professionals who are looking to stay ahead of the competition in a crowded marketpla…

A thriving internal development initiative is driving equity for female progression and diversity at all levels within the Apex Group.
The Bermudian-based global financial services provider said 51 wo…

If insurance executives cannot see any projected value created by an environmental, social and governance policy, maybe they need to reconsider their approach, a Bermudian climate risk expert has sai…

The rapidly growing capabilities of artificial intelligence are set to play an increasing role in the insurance industry, a leading executive has said.

Patrick Tannock is the chief executive offic…

The RG/BSX Index closed on Monday unchanged at 2,187.54 after a day of no trading on the Bermuda Stock Exchange.
On the New York Stock Exchange, the Bank of N T Butterfield & Son Ltd closed down 1…

The Association of Bermuda Insurers and Reinsurers has made changes in the leadership of its most influential committee and has expanded its working groups’ focus areas, drawing on the professional ta…

Digicel will continue as title sponsor of NOVA Mas International for the sixth consecutive year of Bermuda’s carnival celebrations.
The telecommunications company said the partnership has elevated the…

Apex Group Ltd, the Bermudian-based global financial services provider, has appointed Anthony Alfonso as global head of valuation.
In this newly created role, Mr Alfonso will be responsible for produc…

The Bermuda Monetary Authority has confirmed the appointment of Toby Mason as the next chief operating officer (COO), reporting to deputy chief executive officer, Shanna Lespere.
Through this role, th…

The fourth annual International Tech Summit, which combines discussions about the latest breakthroughs in digital assets and blockchain technology on the island and worldwide with an educational and c…

A global decline in the sale of jewellery is predicted this year by the world’s largest retailer of diamond jewellery, even though it is forecasting its sales will grow by double digits.
Signet Jewele…

March 2023 is women’s history month in the United States. We don’t have a similar celebration in Bermuda; so instead, we’ll have a brief look at women and finances along with some observation patterns…

Dear Dave,
I’ve having some problems with my parents, and I’m hoping you can help. Last summer I borrowed $2,500 from them, and it is taking me longer to pay them back than we agreed. Since the pay-ba…

The RG/BSX Index closed the week at 2,187.54, down 240.52 (10.99 per cent) after Bank of Butterfield share price plummeted $4.50 (13 per cent) on the Bermuda Stock Exchange, finishing at $30 after the…

Intangic MGA, a data science-driven, London-based cyber managing general agent, has been launched with backing from Axa XL, offering innovative new cyber insurance cover for large public corporations …

R&Q Insurance Holdings Ltd, the Bermudian-headquartered global non-life specialty insurer, has completed the sale of its 40 per cent minority holding in TPM Holdings USA LLC, the New York-based ma…

The Bermuda Monetary Authority has issued guidance notes outlining its expectations for the island’s commercial insurers and insurance groups regarding their management and reporting of climate change…

Almost $2 million in suspected cannabis has been seized, and four people arrested, in a drug bust by police and customs officers.
Officers executed warrants at a Hamilton business as well as homes in …

After 19 years running The Sportseller in the Washington Mall, Sharon Fenn is calling it a day.
The longtime entrepreneur has put the sports equipment, apparel and sneaker store up for sale.
“I am 60,…

The principals of the Bermuda Stock Exchange-listed Shore Capital Group Limited believe the collapse of Silicon Valley Bank and the associated fallout will likely turn the cycle of credit tightening t…

The Royal Gazette/BSX Index fell 9.95 per cent on Thursday, closing at 2,186.35, down 241.71 points.
A total of 33,200 shares changed hands at a value of $373,725.
Of that, 25,000 LOM Financial Limit…

Café Lido restaurant, part of the Lido complex at Elbow Beach, has reopened after a two month closure.
MEF Group said the restaurant has “a refreshed look and an exciting new menu with favourites from…

AM Best has affirmed the financial strength rating of A+ (Superior) and the long-term issuer credit ratings of “aa-” (Superior) of Bermudian-based Arch Reinsurance Ltd and its strategic affiliates.
Co…

Bermuda companies are now able to pay their annual government fees – which are due at the end of this month – online.
A Government spokeswoman said that the yearly filings are now completely paperless…

December 2022 figures show both the sales volume and value for building material stores shot up by more than 30 per cent, when compared with December 2021.
In fact, the sales volume was nearly 80 per …

If you’ve been concerned about Bermuda’s recent dark and stormy nights, Goslings has a twist on the island’s unofficial national rum drink that may warm you up.
It is a new collection of fruit-flavour…

A new waterside restaurant has opened in Hamilton. Déjà View Restaurant and Bar is located at Barr’s Bay Park in the building that housed the Marine Police Unit until 2013.
The owners are Greg de Melo…

The Bermuda Press (Holdings) Limited said it incurred significant legal costs defending freedom of speech and media rights as it continued to restructure operations and reduce expenses to offset the r…

The Royal Gazette/BSX Index was unchanged on Wednesday, for a fourth day in a row, closing at 2,428.06 with no shares trading on the Bermuda Stock Exchange.
Meanwhile, the Bank of N T Butterfield &am…

The Bermuda Bankers Association is warning people to be aware of phishing scams, often going after the most vulnerable citizens.
Phishing is a type of online or telephone scam that targets consumers b…

The Bermuda Press (Holdings) Limited said it incurred significant legal costs defending freedom of speech and media rights as it continued to restructure operations and reduce expenses to offset the r…

Fitch Ratings’ estimates little direct exposure by US insurers in the recent banking turmoil.
And while AM Best agrees, their commentary noted that despite minimal exposure to bonds issued by the now-…

Bermuda-registered International General Insurance Holdings Ltd (IGI) has completed the acquisition of Norway-based managing general agency Energy Insurance Oslo AS.
The transaction included the acqui…

Bob James has been appointed as the new chief operating officer at Lloyd’s.
He has taken on the COO responsibilities from chief financial officer Burkhard Keese.
Lloyd’s said the appointment is subjec…

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has promoted David B. Weinstock to the role of senior vice president, chief financial officer.
Mr Weinstock has served as interim chief fina…

Apex Group Ltd, the Bermudian-based global financial services provider, has announced the planned acquisition of South Africa’s Efficient Group Ltd.
Efficient is the holding company of Boutique Collec…

Two side-by-side properties in a prime Pembroke location are to have new owners.
West Hamilton Holdings Limited, the BSX-listed property holding company, announced that it has entered into an agreemen…

RISCAP Holdings Ltd, a sister company to MoonGate Group Ltd., has acquired the family medical practice of Dr Constance Richards.
The transaction concluded in June 2022 and the practice has recently be…

Amid continuing scrutiny over the government’s digital asset strategy, David Burt, the Premier and finance minister Monday took to the floor of Parliament to strike back at unyielding opposition quest…

The Royal Gazette/BSX Index closed unchanged on Tuesday at 2,428, with 3,153 shares changing hands at a value of $45,030.75.
Of those shares, 957 Argus Group shares changed hands, closing at $5.75 unc…

Two side-by-side properties in a prime Pembroke location are to have new owners.
West Hamilton Holdings Limited, the BSX-listed property holding company, on Tuesday announced that it has entered into …

The Bermuda International Long Term Insurers and Reinsurers organisation is providing young Bermudians with the opportunity to take part in a mathematics tutoring programme at CedarBridge Academy.
Twe…

Lloyd’s of London expects to report a full-year 2022 loss before tax of approximately £800 million, the organisation said in a trading update as it released preliminary figures for the period.
The ful…

Bermudian-based Everest Re Group Ltd has appointed Brent Hoffman as interim general counsel.
He replaces Sanjoy Mukherjee who will be leaving the company to pursue other opportunities effective April …

The Bermuda Monetary Authority confirmed the registration of three insurers in February, taking the yearly total to seven.
The BMA approved two Restricted SPI insurers – First Coast Re IV Ltd and Ligh…

Miller Insurance, the independent specialist re/insurance broker, has appointed Bermuda market veteran David Porter to its team on the island.
Account executive Mr Porter will lead Miller’s casualty o…