Category: Business
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
Island Boat Club Expands Fleet & Hours
Island Boat Club announced the expansion of its fleet to eight boats in 2024, and the membership club has also extended its peak season operating hours to 8pm when sunlight allows. Jack Bridges, Owner of Island Boat Club said “Our members can now enjoy evening picnics on the boat and it gives them more opportunities to go out during the week after... Read more of this article
HSBC Donates $40,000 To College Foundation
Bermuda College Foundation received a $40,000 donation received from HSBC, which will be used to provide financial aid for individuals who wish to participate in the 2024/25 ‘Building Financial Literacy’ workshop series at Bermuda College starting April 2024. A spokesperson said, “The Building Financial Literacy workshop series is delivered... Read more of this article
Ariel Re Promotes Thirteen Staff Members
Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has announced it has promoted thirteen staff in its Bermuda and London offices. A spokesperson said, “Last year, Ariel Re first announced its drive to become an ‘academy firm’, which will support and develop talent in the reinsurance industry. “The... Read more of this article
