Category: Business
BF&M Limited Promotes Gemma Rochelle
BF&M Limited announced the promotion of Gemma Rochelle to EVP, Group General Counsel and Chief Compliance Officer, and her appointment to its Group Executive Committee, effective April 1st, 2024. Abigail Clifford, Group President and CEO, stated, “Gemma joined the company in 2019 and has made significant contributions, proving herself to be an... Read more of this article
Abacus Promotes Jaylaka Matthie
Abacus Ltd., the local full-service accounting firm, has promoted Jaylaka Matthie to the position of Bookkeeper. A spokesperson said, “Matthie, whose dedication and innovative approach to financial management has been credited as contributing to the firm’s success, will now oversee a broader range of responsibilities. These include managing... Read more of this article
Relm Insurance Launches Web3 Product Suite
Relm Insurance introduced a new product suite customized for clients in Web3 technologies. A spokesperson said, “Relm Insurance [Relm], a leading specialty insurance carrier supporting emerging and innovative industries, today announced the release of a novel product suite, providing tailored, end-to-end insurance coverage for clients immersed... Read more of this article
2023 Q3 Balance Of Payments & Investments
The Ministry of Economy and Labour released the 2023 Q3 Balance of Payments & International Investment Position publication. Minister Jason Hayward explained, “Bermuda’s trade with non-residents resulted in a $361 million surplus for the third quarter of 2023, up $96 million from a year ago.” “Transactions related to trade in goods led to... Read more of this article
Shipping Schedule: Week Starting April 6
The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday, April 6th. On Sunday the Norwegian Gem cruise ship is expected, on Monday the Oleander container ship will arrive, and on Tuesday the Somers Isles container ship is scheduled to arrive. On Wednesday the Norwegian Escape... Read more of this article
Bermuda Stock Exchange Report: April 5 2024
April 5 saw 150 shares trade on the Bermuda Stock Exchange, valued at $4,800.00 BD. 150 shares were traded by Bank of N.T. Butterfield Ltd, closing up 1.6% at $32.00 per share. The BSX finished at 2,376.48, up 1.14% on the day. There was 1 advance, 0 declines, and 50 remained unchanged. The full report for the day is available here [PDF], and the... Read more of this article
Retail Sales Decreased 4.6% In October 2023
The overall volume of retail sales index decreased 4.6% when compared to October 2022, according to the recently released October 2023 Retail Sales Index. A Government spokesperson said, “Today, the Ministry of Economy and Labour released the October 2023 Retail Sales Index publication. “October’s volume of retail sales decreased 4.6 per... Read more of this article
Arch To Acquire Businesses From Allianz
Arch Insurance North America, part of Arch Capital Group Ltd, has entered into a master transaction agreement to acquire the U.S. MidCorp and Entertainment insurance businesses, including select specialty insurance programs, from Allianz Global Corporate & Specialty SE [AGCS] for a $450 million cash consideration to Allianz. A spokesperson said,... Read more of this article
Bermuda Stock Exchange Report: April 4 2024
April 4 saw 1,453 shares trade on the Bermuda Stock Exchange, valued at $45,720.00 BD. 1,453 shares were traded by Bank of N.T. Butterfield Ltd, closing up 5.0% at $31.50 per share. The BSX finished at 2,349.66, up 3.52% on the day. There was 1 advance, 0 declines, and 50 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article
Fortitude Re Appoints Jamie Schmerer
FGH Parent, L.P. [Fortitude Re], today announced the appointment of Jamie Schmerer as SVP, Enterprise Risk. A spokesperson said, “Jamie’s responsibilities will include leading Fortitude Re’s regulatory relations efforts in Bermuda, as well as overseeing and enhancing the enterprise risk management framework of Fortitude Re including, risk... Read more of this article
AXA XL Announces Enhanced D&O Policy
AXA XL’s Bermuda Professional Lines Team has launched a new Lead DIC Directors and Officers Liability Policy. A spokesperson said, “The updated Form offers the most comprehensive coverage for Directors and Officers in the market.” Bermuda Professional Lines SVP, Directors & Officers Product Line Leader Tyler Owen said: “We felt that... Read more of this article
Bermuda Stock Exchange Report: April 3 2024
April 3 saw 800 shares trade on the Bermuda Stock Exchange, valued at $24,008.00 BD. 800 shares were traded by Bank of N.T. Butterfield Ltd, closing down 3.2% at $30.01 per share. The BSX finished at 2,269.75, down 2.29% on the day. There were 0 advances, 1 decline, and 50 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article
Durhager Steps Down From Somers Board
Somers Limited announced that Peter Durhager stepped down from its Board of Directors. A spokesperson said, “Somers Limited, a financial services investment holding company, announces that Peter Durhager stepped down from the Somers Board of Directors at the recent 2023 Annual General Meeting of the Company.” Related Stories Compre Redomiciles... Read more of this article
Kennedys Relocates To Office In Bermuda
Law firm Kennedys has “relocated to new offices in Bermuda to accommodate the firm’s growth.” A spokesperson said, “The Bermuda team, which has been operating in Bermuda since 2006, became part of Kennedys in 2017. The team has since expanded to 10 lawyers, including four partners. They are now located in a fresh, modern space on... Read more of this article
AXA XL Announce Promotions And Title Changes
AXA XL in Bermuda has announced the promotions and title changes effective April 1st of the following employees: Rosemarie Minors – Manager, Compliance and Regulatory Affairs and Privacy Officer Tiffany Heslop – VP, Senior Underwriter, Excess Casualty, Insurance James Gregory – VP, Senior Underwriter, Professional Lines, Insurance Aldon Campbell... Read more of this article
Bermuda Stock Exchange Report: April 2 2024
April 2 saw 2,173 shares trade on the Bermuda Stock Exchange, valued at $66,540.00 BD. 2,043 shares were traded by Bank of N.T. Butterfield Ltd, closing up 3.3% at $31.00 per share, while another 130 shares were traded by BF&M Ltd, closing up 1.9% at $25.49 per share. The BSX finished at 2,322.84, up 2.54% on the day. There were 2 advances,... Read more of this article
