Business http://www.royalgazette.com Business en-us Revamped practice adds diabetes focus There is more than a new look at Premier Health and Wellness Centre, in Hamilton. Based at the premises formerly used by the late Niall Aiten, it is owned and operated by Stanley James. During the past year the practice has undergone a transformation with a number of improvements and expanded services. In addition, it is. .. http://www.royalgazette.com/local-business/article/20170223/revamped-practice-adds-diabetes-focus&source=RSS Thu, 23 Feb 2017 08:00:00 EST http://www.royalgazette.com/local-business/article/20170223/revamped-practice-adds-diabetes-focus&source=RSS Digicel to trim global workforce by 25 Bermudian jobs could face the axe as international telecoms firm Digicel announced plans to cut 25 per cent of its worldwide workforce over the next 18 months. But Digicel stayed tight-lipped on whether the island would be affected by the job losses. A spokeswoman at Digicels regional headquarters in Jamaica said We will announce. .. http://www.royalgazette.com/business/article/20170222/digicel-to-trim-global-workforce-by-25&source=RSS Thu, 23 Feb 2017 08:00:00 EST http://www.royalgazette.com/business/article/20170222/digicel-to-trim-global-workforce-by-25&source=RSS Butterfield prices secondary offering Butterfield today announced the pricing of its secondary offering of shares at 31. 75 per share. Several shareholders are selling off portions of their stakes in the bank amounting to a total of 9. 55 million shares. The majority of the offering is comprised of the entire 7. 6 million shares holding of the Carlyle Group, the New. .. http://www.royalgazette.com/business/article/20170223/butterfield-prices-secondary-offering&source=RSS Thu, 23 Feb 2017 10:11:00 EST http://www.royalgazette.com/business/article/20170223/butterfield-prices-secondary-offering&source=RSS BSX says own your share of Bermuda Owning your share of Bermuda may be easier than you think. A new campaign launched by the Bermuda Stock Exchange is encouraging the public to take advantage of investment opportunities at home. The key message is that by putting a few dollars into publicly listed Bermuda companies, residents can invest in the island and its future. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20170223/bsx-says-own-your-share-of-bermuda&source=RSS Thu, 23 Feb 2017 08:00:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20170223/bsx-says-own-your-share-of-bermuda&source=RSS BPHLs profit rises to 1.26m Bermuda Press Holdings Ltds full-year profit more than doubled to 1. 26 million as cost-cutting measures bore fruit. While revenue fell in the year ended September 30, 2016, the group was able to generate a 750,000 increase in consolidated net profit, primarily as a result of cost savings through consolidation in print division. .. http://www.royalgazette.com/business/article/20170223/bphls-profit-rises-to-126m&source=RSS Thu, 23 Feb 2017 08:00:00 EST http://www.royalgazette.com/business/article/20170223/bphls-profit-rises-to-126m&source=RSS Sampson joins BeesMont as deputy manager Corporate secretarial services firm BeesMont has appointed a new deputy manager. Rovonne Sampson joins the company from Harborview Corporate Services, where she was vice-president. She said Joining BeesMont has been a great honour. I have been warmly welcomed by the team and found this to be a great place to work and contribute my. .. http://www.royalgazette.com/local-business/article/20170223/sampson-joins-beesmont-as-deputy-manager&source=RSS Thu, 23 Feb 2017 08:00:00 EST http://www.royalgazette.com/local-business/article/20170223/sampson-joins-beesmont-as-deputy-manager&source=RSS Bermuda CROs having increasing influence Chief risk officers have become firmly established within Bermudas reinsurance companies, a survey reveals. EYs first survey of the islands insurance CROs found that 100 per cent of respondents had unfettered access to the Board, Risk and Audit Committees. The picture painted by the survey is one in which CROs are an increasing. .. http://www.royalgazette.com/re-insurance/article/20170223/bermuda-cros-having-increasing-influence&source=RSS Thu, 23 Feb 2017 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20170223/bermuda-cros-having-increasing-influence&source=RSS Bigger Bum Bum yacht sails into action Veteran charter boat operator Leon Raynor lost his flagship Sally Bum Bum in the double whammy hit by hurricanes Fay and Gonzalo in 2014. But now hes launched a bigger replacement a 55-foot yacht called the Big Bum Bum with a capacity of 48 passengers. Mr Raynor said People are already excited about what Ive just done and. .. http://www.royalgazette.com/local-business/article/20170222/bigger-bum-bum-yacht-sails-into-action&source=RSS Wed, 22 Feb 2017 08:00:00 EST http://www.royalgazette.com/local-business/article/20170222/bigger-bum-bum-yacht-sails-into-action&source=RSS XL Group CFO Porrino to retire XL Groups chief financial officer, Peter Porrino, is to retire at the end of April, although he will continue to work part-time as an adviser to group CEO Mike McGavick. He will be succeeded by Stephen Robb, group controller. Mr McGavick said Personally, and on behalf of the leadership team, and our board of directors, Id like. .. http://www.royalgazette.com/re-insurance/article/20170222/xl-group-cfo-porrino-to-retire&source=RSS Wed, 22 Feb 2017 17:40:00 EST http://www.royalgazette.com/re-insurance/article/20170222/xl-group-cfo-porrino-to-retire&source=RSS Carlyle on verge of Butterfield exit Butterfield Bank's biggest shareholder, The Carlyle Group, is a step closer to exiting its position with the bank. A public secondary offering of common shares in the bank, including an additional offering to the underwriters, includes all 7. 6 million of the stock owned by Carlyle. It had always been expected Carlyle would. .. http://www.royalgazette.com/business/article/20170222/carlyle-on-verge-of-butterfield-exit&source=RSS Wed, 22 Feb 2017 00:01:00 EST http://www.royalgazette.com/business/article/20170222/carlyle-on-verge-of-butterfield-exit&source=RSS Butterfield shares fall 1.6 The Bank of Butterfield dropped 60 cents to 32 on The Royal GazetteBSX Index today. The 1. 8 per cent fall came after 276 shares traded. On the New York Stock Exchange, the bank dropped 52 cents, or 1. 58 per cent, to 32. 51. Insurance firm Argus was unchanged at 4. 55 after 52,000 shares moved. Fellow insurance firm. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20170222/butterfield-shares-fall-16&source=RSS Wed, 22 Feb 2017 18:18:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20170222/butterfield-shares-fall-16&source=RSS Craftsman to open gallery at Dockyard Island craftsman Jon Faulkner is to go back to his roots with a new venture in Dockyard. Mr Faulkner, who has worked in pottery for around 30 years, is opening the Jon Faulkner Gallery in the Bermuda Clayworks building. He said Bermuda Clayworks will remain to manufacture house signs its responsible for that, and Jon Faulkner. .. http://www.royalgazette.com/local-business/article/20170222/craftsman-to-open-gallery-at-dockyard&source=RSS Wed, 22 Feb 2017 08:00:00 EST http://www.royalgazette.com/local-business/article/20170222/craftsman-to-open-gallery-at-dockyard&source=RSS RenRe increases dividend for 22nd year RenaissanceRe has increased its dividend for the 22nd consecutive year. The Bermudian reinsurer announced that its board had decided to raise the quarterly payout to 32 cents per share from 31 cents. The next dividend will be paid on March 31 to shareholders of record as of March 15. RenRes board also approved an increase in. .. http://www.royalgazette.com/re-insurance/article/20170222/renre-increases-dividend-for-22nd-year&source=RSS Wed, 22 Feb 2017 17:34:00 EST http://www.royalgazette.com/re-insurance/article/20170222/renre-increases-dividend-for-22nd-year&source=RSS PartnerRe reports 191m loss for quarter Reinsurance firm PartnerRe has reported a net loss of 191 million for the last quarter of 2016. The figure compares to a 162 million net income for the same period last year. Operating earnings for the period totalled 125 million, compared to 184 million for the fourth quarter of 2015. Net income for the full year was 387. .. http://www.royalgazette.com/re-insurance/article/20170222/partnerre-reports-191m-loss-for-quarter&source=RSS Wed, 22 Feb 2017 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20170222/partnerre-reports-191m-loss-for-quarter&source=RSS Salary negotiations topic for WiRe seminar Women in Reinsurance is hosting a salary negotiation seminar next week to help industry professionals learn strategies and techniques to assist them in negotiating their compensation packages. The lunchtime presentation will be led by Sylvia Jones, director of Elevate Executive Selection, an executive search and recruitment. .. http://www.royalgazette.com/re-insurance/article/20170222/salary-negotiations-topic-for-wire-seminar&source=RSS Wed, 22 Feb 2017 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20170222/salary-negotiations-topic-for-wire-seminar&source=RSS Ironshore increases terrorism coverage Bermudas Ironshore has boosted its insurance capacity for terrorism and sabotage coverage to 400 million. The increase is 25 million up on the previous 375 million available to clients. Quentin Prebble, director of Pembroke Managing Agency Limited, said In todays increasingly uncertain world, acts of terrorism have impacted. .. http://www.royalgazette.com/re-insurance/article/20170222/ironshore-increases-terrorism-coverage&source=RSS Wed, 22 Feb 2017 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20170222/ironshore-increases-terrorism-coverage&source=RSS Nonnas to charge for bags in tree-planting effort A Hamilton restaurant has started charging for bags and donating the cash to a tree-planting scheme in a bid to boost the environment. Nonnas Kitchen wants to encourage people to reuse bags in a drive thought to be the first of its kind in Bermuda. Customers who get disposable bags now have pay between five cents to 20 cents each. .. http://www.royalgazette.com/local-business/article/20170221/nonnas-to-charge-for-bags-in-tree-planting-effort&source=RSS Tue, 21 Feb 2017 08:00:00 EST http://www.royalgazette.com/local-business/article/20170221/nonnas-to-charge-for-bags-in-tree-planting-effort&source=RSS Weak pound drives Somers to 10.7m loss The weakness of the UK pound was the major factor driving the owner of Bermuda Commercial Bank to a 10. 7 million loss in the fourth quarter of last year. Somers Ltd, a Bermuda Stock Exchange-listed financial services holding company, said more than half of its gross assets were denominated in currencies other than the dollar chiefly. .. http://www.royalgazette.com/international-business/article/20170221/weak-pound-drives-somers-to-107m-loss&source=RSS Tue, 21 Feb 2017 11:13:00 EST http://www.royalgazette.com/international-business/article/20170221/weak-pound-drives-somers-to-107m-loss&source=RSS Captive sector not resting on laurels Bermuda leads the way as the worlds top jurisdiction for captives, with more than 780 on the island. But it is not resting on its laurels. It did that before, but learnt a lesson. Today, vigilance and awareness are uppermost in the mind of Grainne Richmond, who is almost halfway through her two years as president of the Bermuda. .. http://www.royalgazette.com/re-insurance/article/20170221/captive-sector-not-resting-on-laurels&source=RSS Tue, 21 Feb 2017 08:00:00 EST http://www.royalgazette.com/re-insurance/article/20170221/captive-sector-not-resting-on-laurels&source=RSS BSX unchanged The Royal GazetteBSX Index closed unchanged at 1983. 08. A total of 50,000 shares in insurance firm Argus changed hands, with its price remaining unchanged at 4. 55. And utilities firm Ascendant was also unchanged at 7. 15 after 2,000 shares sold. On the New York Stock Exchange, the Bank of Butterfield dropped 8 cents, or 0. 24. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20170221/bsx-unchanged&source=RSS Tue, 21 Feb 2017 20:09:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20170221/bsx-unchanged&source=RSS Faulkner to open new Dockyard gallery A new gallery is set to open in Dockyard. It is hoped that the Jon Faulkner Gallery will be open in time for the Americas Cup and the summer season. Jon Faulkner founded Bermuda Clayworks in Dockyard 20 years and left the operation ten years ago. Now he is refurbishing the site ready for the opening of his new gallery. I. .. http://www.royalgazette.com/local-business/article/20170221/faulkner-to-open-new-dockyard-gallery&source=RSS Tue, 21 Feb 2017 09:35:00 EST http://www.royalgazette.com/local-business/article/20170221/faulkner-to-open-new-dockyard-gallery&source=RSS Return of the Bermuda sneaker Sneaker giants adidas is to bring back a retro design with a Bermuda touch. The adidas Bermuda sneaker, first seen in the 1970s, has been reborn as part of the companys Originals range of classics. According to sneaker websites, the design will first be seen in a brown and light brown suede finish thats more like off-white. .. http://www.royalgazette.com/business/article/20170221/return-of-bermuda-sneaker&source=RSS Tue, 21 Feb 2017 08:00:00 EST http://www.royalgazette.com/business/article/20170221/return-of-bermuda-sneaker&source=RSS Make your choices even better Choices. Each day we are faced with choices that will have an impact on our lives and our businesses. Many times our choices seem automatic the way we get to work, our morning coffee, and many other tasks. These choices have become habits and we tend to do many of them without even a conscious thought. However, when we assess these. .. http://www.royalgazette.com/booster-shot/article/20170221/make-your-choices-even-better&source=RSS Tue, 21 Feb 2017 08:00:00 EST http://www.royalgazette.com/booster-shot/article/20170221/make-your-choices-even-better&source=RSS Insurers lose ground Insurers BFampM and Argus Group fell on The Royal GazetteBSX Index. It was a drop of 20 cents, or 4. 2 per cent, to 4. 55 for Argus after 130,000 shares traded. While, BFampM lost 25 cents, or 1. 2 per cent, to close at 20. 50 after 36,176 shares were exchanged. Polaris Holdings improved by 70 cents, or 17. 3 per cent, to 4. 75. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20170221/insurers-lose-ground&source=RSS Tue, 21 Feb 2017 08:00:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20170221/insurers-lose-ground&source=RSS BAS appoints new finance controller Bermuda Aviation Services has appointed Jennifer Beech as assistant group financial controller. Ms Beech, who formerly worked in the enterprise division audit practice at professional services firm KPMG, will look after day-to-day finance operations for the firm and its subsidiaries, as well as head special projects. Ian Cook, group. .. http://www.royalgazette.com/business/article/20170220/bas-appoints-new-finance-controller&source=RSS Mon, 20 Feb 2017 09:59:00 EST http://www.royalgazette.com/business/article/20170220/bas-appoints-new-finance-controller&source=RSS Fantasea prepares for a busy summer The new owners of the only watersports centre in Dockyard are bracing themselves for a bumper summer. Simon Weare, general manager one of three partners who took over the decades-old Fantasea just over a year ago, said the new management had invested in extra equipment and enlarged and improved its charter boat fleet in the run up to the. .. http://www.royalgazette.com/local-business/article/20170220/fantasea-prepares-for-busy-summer&source=RSS Mon, 20 Feb 2017 08:00:00 EST http://www.royalgazette.com/local-business/article/20170220/fantasea-prepares-for-busy-summer&source=RSS Rapid growth in use of cloud computing A Bermudian company has seen remarkable growth in the number of businesses opting to use cloud-based software solutions to better manage their operations. Since it was formed five years ago, The Certus Group has been providing consulting services and software to businesses on the island and around the world. A division of Certus,. .. http://www.royalgazette.com/business/article/20170220/rapid-growth-in-use-of-cloud-computing&source=RSS Mon, 20 Feb 2017 08:00:00 EST http://www.royalgazette.com/business/article/20170220/rapid-growth-in-use-of-cloud-computing&source=RSS Bank stocks rise Shares valued at more than 1 million were traded on The Royal GazetteBSX Index last week. Bank stocks fared best, with HSBC Holdings improving by 20 cents, or 2. 38 per cent, to 8. 60 after 7,357 traded. Butterfield Bank shares also rose, going up 60 cents, or 1. 9 per cent, to 32. 70 after 27,054 were exchanged. On the New York. .. http://www.royalgazette.com/bermuda-stock-exchange/article/20170220/bank-stocks-rise&source=RSS Mon, 20 Feb 2017 08:00:00 EST http://www.royalgazette.com/bermuda-stock-exchange/article/20170220/bank-stocks-rise&source=RSS Bermuda in MMCs top five for community work The island office of global giant Marsh and Guy Carpenter is in the top five around the world for community volunteers. The company, part of professional services firm Marsh amp McLennan, last year saw 40 per cent of its total workforce take part in voluntary work, with 1,788 hours donated to charity. Christine Salerno, head of. .. http://www.royalgazette.com/international-business/article/20170220/bermuda-in-mmcs-top-five-for-community-work&source=RSS Mon, 20 Feb 2017 16:00:00 EST http://www.royalgazette.com/international-business/article/20170220/bermuda-in-mmcs-top-five-for-community-work&source=RSS