Hashtag: #BermudaBusiness
Arbitrade Statements: Building, Donations, More
During their recent press conference call, Arbitrade — which previously announced its home domicile will be Bermuda — reportedly said they will be “donating $1 million to the Government’s new state-of-the-art co-working space,” made statements about other donations, and said they “recreated a gold standard for the cryptocurrency... Read more of this article
Hamilton Insurance Appoints Daniel Fisher
Hamilton Insurance Group, the Bermuda-based holding company for insurance and reinsurance operations in Bermuda and at Lloyd’s, today announced the appointment of Daniel Fisher as Group Head of HR. Based in London and reporting to Hamilton CEO Pina Albo, Mr. Fisher will be responsible for overseeing the development of the Company’s human resources... Read more of this article
Employee Severance Claims Settled For $650K
Employee severance claims against BAS were originally approximately $900,000, but were settled by the Government, acting on behalf of BAS, for approximately $650,000. This is according to a recent ruling from the Court of Appeal which related to the ending of the contract between BAS and the Government for services at the airport. The ruling said,... Read more of this article
Bermuda Stock Exchange Report: July 2 2018
July 2 saw 308 shares trade on the Bermuda Stock Exchange, valued at $14,168.00 BD. 308 shares were traded by Bank of N.T. Butterfield Ltd, closing even at $46.00 per share. The BSX finished at 2,651.71, even on the day. There were 0 advances, 0 declines, and 59 remained unchanged. The full report for the day is available here [PDF]. Related Stories Bermuda... Read more of this article
OBA: New Bank Class Plans Raise “Red Flags”
[Updated] “The Premier’s decision to create a new class of bank in Bermuda raise a series of red flags that should make Mr and Mrs Bermuda extremely concerned,” Opposition Leader Jeanne Atherden said today [July 2], adding that “if not done extremely carefully and transparently it could pose significant reputational damage to Bermuda.” Bill... Read more of this article
Ovis Plans To Establish Presence In Bermuda
Ovis Communications — a cryptocurrency company based in Turkey — is “establishing a presence in Bermuda to further develop its long term growth plans,” the company said. “Last week they submitted an application to the Bermuda Monetary Authority to incorporate an exempted company. Ovis principals Serbulent Arslan and Zubeyir... Read more of this article
BII Event: Anne Chalmers, Cathy Duffy To Speak
Two female industry veterans will be the speakers at an event to promote the professional development of women in the re/insurance sector. The Bermuda Insurance Institute [BII] is organizing a 12-month series of events to discuss solutions to problems that are preventing more women rising to the top of the industry ranks. In the second of the series,... Read more of this article
Tax Relief Programme For New Businesses
[Updated] Minister of Economic Development & Tourism Jamahl Simmons is holding a press conference this afternoon [July 2] on a new tax relief programme to assist entrepreneurs. We will have additional coverage later on and in the meantime the live video of Minister Simmons press conference is below. Speaking today, Minister Simmons said, “Any... Read more of this article
Ministry: Vacation Rental Act Commences
The Ministry of Economic Development and Tourism today [July 2] announced the commencement of the Vacation Rental Act 2018, which requires vacation rental owner to register their property and pay a 4.5% vacation rental fee. The Ministry is advising homeowners and proprietors of vacation rental units to review the Fact Sheet here on the Government... Read more of this article
Sompo’s Weather Risk Transfer Solutions
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has developed a new suite of innovative weather-driven risk management products tailored for the real estate and hospitality sectors. “The products, which are customized for each client’s risk exposures, provide coverage... Read more of this article
Premier Meets With Bitlumens, BitMex, Ovis
Premier and Minister of Finance David Burt continues to meet with fintech companies, with the Premier recently tweeting about meetings with BitMex, Bitlumens and Turkey based Ovis Communications. The Premier tweeted, “Welcomed a delegation from Turkey based Ovis Communications to the Cabinet Office. Ovis runs one of Europe’s largest digital... Read more of this article
Rosewood Bermuda Offers Cup Match Package
Rosewood Bermuda is offering a special package celebrating Cup Match weekend, with the exclusive package including accommodations at the newly renovated Rosewood Bermuda, transfers to the cricket matches, and daily breakfast. The hotel only has suites available at this time so the rate is $2,560++ per night. A spokesperson said, “Rosewood Bermuda... Read more of this article
