Business http://www.royalgazette.com Business en-us Islands first trampoline park set to open FryDays will open Bermudas first trampoline park in Dockyard on Monday. Trampoline parks are growing in popularity around the world. The International Association of Trampoline Parks has estimated there were about 50 million North American visits to the parks in 2016. FryDays opened its doors two years ago in Bermudiana Arcade. .. http://www.royalgazette.com/local-business/article/20180719/islands-first-trampoline-park-set-to-open&source=RSS Fri, 20 Jul 2018 08:00:00 EST http://www.royalgazette.com/local-business/article/20180719/islands-first-trampoline-park-set-to-open&source=RSS Insurers venturing into crypto insurance NEW YORK Bloomberg In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You wont find many ads promoting it or details on company websites offering it. But according to industry insiders, theres a hot new business that more and more firms are looking to get into crypto insurance. Its. .. http://www.royalgazette.com/re-insurance/article/20180720/insurers-venturing-into-crypto-insurance&source=RSS Fri, 20 Jul 2018 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20180720/insurers-venturing-into-crypto-insurance&source=RSS Somerset businesses feeling Cup Match buzz Businesses in Somerset are gearing up for Cup Match, with the West End set to host the midsummer classic this year. With everyone feeling the festive spirit, some companies are preparing early for the rush on the August 2 and 3 public holiday. Donald Hassell, owner of the Somerset Country Squire restaurant and pub, said the eatery. .. http://www.royalgazette.com/local-business/article/20180719/somerset-businesses-feeling-cup-match-buzz&source=RSS Thu, 19 Jul 2018 08:00:00 EST http://www.royalgazette.com/local-business/article/20180719/somerset-businesses-feeling-cup-match-buzz&source=RSS Retail sales slide for second month Retail sales volume plunged 7. 8 per cent in April, a month when liquor stores takings fell by nearly one fifth. It was the second successive month to record a substantial fall in sales volume after the 5. 4 per cent drop in March. The volume of food sales dipped by 10. 2 per cent in April, compared to the same month in 2017, while. .. http://www.royalgazette.com/business/article/20180719/retail-sales-slide-for-second-month&source=RSS Thu, 19 Jul 2018 14:36:00 EST http://www.royalgazette.com/business/article/20180719/retail-sales-slide-for-second-month&source=RSS Sussex hires pair from Bermuda rivals Insurer Brit Ltd has strengthened the team at its Bermudian-based Sussex Capital operation with two managers who were formerly with rival island reinsurers XL Catlin and MS Amlin. Richard Slater joins Sussex as underwriting director and Adam Champion as senior vice-president, portfolio manager and operations. Brit launched Sussex. .. http://www.royalgazette.com/re-insurance/article/20180719/sussex-hires-pair-from-bermuda-rivals&source=RSS Thu, 19 Jul 2018 13:10:00 EST http://www.royalgazette.com/re-insurance/article/20180719/sussex-hires-pair-from-bermuda-rivals&source=RSS Butterfield slip 0.95 on NYSE A total of 500 shares of BFampM Ltd were traded on The Royal GazetteBSX Index but with no change to the closing price of 17. 75. On the New York Stock Exchange, shares of Butterfield Bank were down 45 cents, or 0. 95 per cent, at 46. 93. The Royal GazetteBSX Index was unchanged at 2,681. 42. The BSX Insurance Index was down 0. 8 of. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20180719/butterfield-slip-095-on-nyse&source=RSS Thu, 19 Jul 2018 17:47:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20180719/butterfield-slip-095-on-nyse&source=RSS CEO describes rise from humble beginnings His parents were a milkman and a snack shop waitress. They had missed out on educational opportunities, but they were determined their children would see the value of applying themselves to learning. Today, Marc Grandisson is chief executive officer of Bermudian-based Arch Capital Group. He shared the lessons that he has learnt from. .. http://www.royalgazette.com/re-insurance/article/20180719/ceo-describes-rise-from-humble-beginnings&source=RSS Thu, 19 Jul 2018 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20180719/ceo-describes-rise-from-humble-beginnings&source=RSS Insurtech revolution is on its way Technology is changing the retail insurance landscape and its only a matter of time before it impacts the big-ticket business written in Bermuda. That is the view of Thomas Dawson, a partner at US law firm Drinker Biddle, who will speak on a panel at a seminar in Hamilton today. As new ideas emerge for delivering insurance. .. http://www.royalgazette.com/re-insurance/article/20180719/insurtech-revolution-is-on-its-way&source=RSS Thu, 19 Jul 2018 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20180719/insurtech-revolution-is-on-its-way&source=RSS US storms cause 3bn of insured losses Almost 5,000 reports of severe weather in the US, including tornadoes, hail and damaging winds, caused insured losses of 3 billion last month. With damaging severe weather also hitting western and central Europe, Brazil, Indisa, China and Canada, and an earthquake in Japan, last month was the most active in terms of catastrophic events. .. http://www.royalgazette.com/re-insurance/article/20180719/us-storms-cause-3bn-of-insured-losses&source=RSS Thu, 19 Jul 2018 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20180719/us-storms-cause-3bn-of-insured-losses&source=RSS Paediatrician changes role after 37 years Veteran paediatrician Peter Perinchief has been in the front line of childrens medicine in Bermuda for 37 years and now hes taking a step back into a consultants role. Dr Perinchief, owner and physician at Edgewood Pediatric Services, on Richmond Road, finds his work fulfilling and has enjoyed seeing the huge medical and. .. http://www.royalgazette.com/local-business/article/20180718/paediatrician-changes-role-after-37-years&source=RSS Wed, 18 Jul 2018 08:00:00 EST http://www.royalgazette.com/local-business/article/20180718/paediatrician-changes-role-after-37-years&source=RSS Butterfield shares up 1.1 Butterfield Bank shares rebounded by 50 cents, or 1. 1 per cent, to 46. 50 after 344 traded on The Royal GazetteBSX Index. On the New York Stock Exchange the banks shares were up 22 cents, or 0. 47 per cent, at 47. 38. The Royal GazetteBSX Index was up 22. 49 points, or 0. 85 per cent, at 2,681. 42. The BSX Insurance Index was. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20180718/butterfield-shares-up-11&source=RSS Wed, 18 Jul 2018 18:08:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20180718/butterfield-shares-up-11&source=RSS Ol! Butterfield Vallis adds Spanish beer Butterfield amp Vallis has entered the beer and wine sector for the first time, bringing Spanish lager Estrella Damm to the island. As the company celebrates its 100th anniversary, it has added a new line to its wholesale inventory after receiving a license to distribute beer and wine. The first brand it is distributing is. .. http://www.royalgazette.com/local-business/article/20180718/ol-butterfield-and-vallis-adds-spanish-beer&source=RSS Wed, 18 Jul 2018 08:00:00 EST http://www.royalgazette.com/local-business/article/20180718/ol-butterfield-and-vallis-adds-spanish-beer&source=RSS AIG completes acquisition of Validus American International Group Inc has completed its acquisition of Bermudian-based Validus Holdings Ltd. The deal was first announced in January and has now close following receipt of regulatory approvals and approval of Validus shareholders. Brian Duperreault, president and chief executive officer of AIG, said We are very pleased. .. http://www.royalgazette.com/re-insurance/article/20180718/aig-completes-acquisition-of-validus&source=RSS Wed, 18 Jul 2018 10:42:00 EST http://www.royalgazette.com/re-insurance/article/20180718/aig-completes-acquisition-of-validus&source=RSS Flood cat bond hailed as significant first A new catastrophe bond that will transfer some US flood risks from the public sector to the private market is being hailed as another significant first for the Bermuda market. The bond will be issued through FloodSmart Re, a Bermudian special purpose insurer, and will seek to provide 275 million of reinsurance protection. A. .. http://www.royalgazette.com/re-insurance/article/20180718/flood-cat-bond-hailed-as-significant-first&source=RSS Wed, 18 Jul 2018 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20180718/flood-cat-bond-hailed-as-significant-first&source=RSS Bepro to host Mirrors information session The Bermuda Chamber of Commerces Emerging Professionals Division is partnering with the Mirrors Programme to host an information session next week. The information session will feature Mirrors newly released enrolment video, which provides a fantastic look into the programme and its impact, for youth and volunteers. In making the. .. http://www.royalgazette.com/business/article/20180718/bepro-to-host-mirrors-information-session&source=RSS Wed, 18 Jul 2018 15:09:00 EST http://www.royalgazette.com/business/article/20180718/bepro-to-host-mirrors-information-session&source=RSS More US insurers writing cyber coverage The US cyber insurance market grew last year with 170 insurers writing the line of business, up from 140 in 2016. Premiums also rose by 37 per cent to 1. 84 billion. The loss ratio decreased from 47. 6 per cent to 32. 4 per cent, primarily due to a reduction in frequency and claim severity, with the average claim size across all companies. .. http://www.royalgazette.com/re-insurance/article/20180718/more-us-insurers-writing-cyber-coverage&source=RSS Wed, 18 Jul 2018 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20180718/more-us-insurers-writing-cyber-coverage&source=RSS XL Catlin supports coding education in UK Driverless cars will be a focus in English classrooms from October as part of an education initiative supported by Bermuda-based XL Catlin. Code Smart is an innovative computing and robotics education initiative seeks to encourage students to take up coding and design transport solutions. It is based on the work of UK autonomous. .. http://www.royalgazette.com/re-insurance/article/20180718/xl-catlin-supports-coding-education-in-uk&source=RSS Wed, 18 Jul 2018 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20180718/xl-catlin-supports-coding-education-in-uk&source=RSS Millennial-led mindshare heads for Bermuda Some of the worlds smartest and most talented millennial entrepreneurs are coming to Bermuda for the first Meeting of the Minds event to be held outside the US. Organisers hope the overseas attendees will be joined by an equal number of Bermudian-based entrepreneurs, chief executive officers and corporate sector leaders. Promoted. .. http://www.royalgazette.com/business/article/20180717/millennial-led-mindshare-heads-for-bermuda&source=RSS Tue, 17 Jul 2018 08:00:00 EST http://www.royalgazette.com/business/article/20180717/millennial-led-mindshare-heads-for-bermuda&source=RSS Butterfield Bank shares slip 1.1 Shares of Butterfield Bank were down 50 cents, or 1. 1 per cent, at 46 after 133 traded on The Royal GazetteBSX Index. On the New York Stock Exchange, the banks shares were up 43 cents, or 0. 92 per cent, at 47. 16. The Royal GazetteBSX Index was down 22. 49 points, or 0. 84 per cent, at 2,658. 94. The BSX Insurance Index was. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20180717/butterfield-bank-shares-slip-11&source=RSS Tue, 17 Jul 2018 17:38:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20180717/butterfield-bank-shares-slip-11&source=RSS IBMs Watson handler to speak on AI A technology specialist involved in one of the worlds leading artificial intelligence efforts is coming to Bermuda to speak about the AI revolution. Rob High is chief technology officer at IBM Watson. He has been announced as a keynote speaker for the GR Innovation amp Insurtech event in November. IBM Watson is a supercomputer. .. http://www.royalgazette.com/business/article/20180717/ibms-watson-handler-to-speak-on-ai&source=RSS Tue, 17 Jul 2018 08:00:00 EST http://www.royalgazette.com/business/article/20180717/ibms-watson-handler-to-speak-on-ai&source=RSS Cynthias Rest Home owner looks to expand The owner of a Pembroke rest home has been in talks with government officials about opening another one. Andre Thomas, owner of Cynthias Rest Home in Orchard Grove, said the island needed more capacity to provide for its ageing population. I currently am full and have a waiting list thats my reason to expand, Mr Thomas. .. http://www.royalgazette.com/local-business/article/20180716/cynthias-rest-home-owner-looks-to-expand&source=RSS Mon, 16 Jul 2018 08:00:00 EST http://www.royalgazette.com/local-business/article/20180716/cynthias-rest-home-owner-looks-to-expand&source=RSS BAS reports 4.3m loss Bermuda Aviation Services Limited made a net loss of 4. 3 million for the year ended March 31. That compares to a profit of 0. 8 million the year before. In a statement, the company said it had completed a comprehensive strategic and functional review of all aspects of its operations and the financial results for the year reflect. .. http://www.royalgazette.com/local-business/article/20180716/bas-reports-43m-loss&source=RSS Mon, 16 Jul 2018 16:56:00 EST http://www.royalgazette.com/local-business/article/20180716/bas-reports-43m-loss&source=RSS BEDC now managing StreetWise MBA programme The StreetWise MBA programme that helps established entrepreneurs strength and scale their businesses is now being managed on the island by the Bermuda Economic Development Corporation. The programme had been run through Bermuda Colleges Pace programme since 2015. However a two-year licensing agreement has been signed between the BEDC. .. http://www.royalgazette.com/local-business/article/20180716/bedc-now-managing-streetwise-mba-programme&source=RSS Mon, 16 Jul 2018 13:49:00 EST http://www.royalgazette.com/local-business/article/20180716/bedc-now-managing-streetwise-mba-programme&source=RSS Trunomis Perseid scoops Europas Award Bermudian tech firm Trunomi took home the Europas Award for Hottest Blockchain Identity Project. The company, founded by chief executive officer Stuart Lacey, has been lauded for its innovative work on Perseid, a consent ID blockchain technology project. The project is named Perseid after the annual meteor shower which includes. .. http://www.royalgazette.com/international-business/article/20180716/trunomis-perseid-scoops-europas-award&source=RSS Mon, 16 Jul 2018 20:22:00 EST http://www.royalgazette.com/international-business/article/20180716/trunomis-perseid-scoops-europas-award&source=RSS Argus Group improves 2.6 Shares of Argus Group Holdings were up 10 cents, or 2. 6 per cent, at 4 after 27,000 bonds traded on The Royal GazetteBSX Index. There was also trading in 2,000 shares of Ascendant Group, and 400 shares of BFampM Ltd, but with no change to the closing price of either stock. On the New York Stock Exchange, shares of Butterfield. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20180716/argus-group-improves-26&source=RSS Mon, 16 Jul 2018 17:43:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20180716/argus-group-improves-26&source=RSS Babywear store expands offerings A store specialising in clothing for babies and toddlers has expanded with the launch of a maternity line. Urban Little One opened a year ago on Front Street and has already proved popular with shoppers, a point verified by the Best of Bermuda Award 2018 in the childrenbaby wear category from ltigtThe Bermudianltigt magazine. http://www.royalgazette.com/local-business/article/20180716/babywear-store-expands-offerings&source=RSS Mon, 16 Jul 2018 08:00:00 EST http://www.royalgazette.com/local-business/article/20180716/babywear-store-expands-offerings&source=RSS Joynes awarded Gil Tucker Scholarship EY Bermuda Ltd announced today that Christina Joynes has been selected as the recipient of this years Gil Tucker Bermuda Scholarship. Ms Joynes is currently interning for the summer at EY in the advisory and assurance team. She is pursuing a bachelor of business and administration in accounting at Howard University and is a member of the. .. http://www.royalgazette.com/business/article/20180716/joynes-awarded-gil-tucker-scholarship&source=RSS Mon, 16 Jul 2018 13:07:00 EST http://www.royalgazette.com/business/article/20180716/joynes-awarded-gil-tucker-scholarship&source=RSS Edgewood hires two paediatricians Edgewood Pediatrics has hired two paediatricians, Stephen Kenny and Kristen Woodward, who will start work there in August. Dr Kenny completed his speciality training in paediatrics at Duke University Hospital, North Carolina last year. His comprehensive background comprises inpatient and outpatient paediatrics, including neonatal and. .. http://www.royalgazette.com/local-business/article/20180716/edgewood-hires-two-paediatricians&source=RSS Mon, 16 Jul 2018 08:00:00 EST http://www.royalgazette.com/local-business/article/20180716/edgewood-hires-two-paediatricians&source=RSS