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Working together, the Regulatory Authority and Belco have achieved a midyear reduction in the retail tariff that is applied to electricity bills. Across the board, the tariff decrease averages out at about 1.6 per cent. It will take effect from June ...

Retail sales volume in Bermuda increased by 4.5 per cent in February as local businesses continued to benefit from a bump in on-island spending by residents. This compares to the previous year’s local retail sales, which reported a volume increase of...

Tom Albright is stepping down from his role as chief executive officer of Bermudian-based cryptocurrency exchange Bittrex Global (Bermuda) Ltd and Bittrex Global GmbH of Liechtenstein effective today, the boards of directors of the two companies have...

Bermudian-based reinsurer Ariel Re has made two appointments to its senior management team on the island. Mike Pedraja joins Ariel Re as group chief financial officer, and Tim Shreeve has been appointed as head of platform development. The appointmen...

Despite some recent choppiness, stock market averages continue to hover near their all-time highs – but that masks a subtle shift occurring beneath the surface. Lately, cyclical stocks, or those most dependent on economic strength for profits, have b...

There were no trades on The Royal Gazette/BSX Index, which was unchanged at 2,638.1. On the New York Stock Exchange, shares of Butterfield Bank were down nine cents, or 0.23 per cent, at $39.22. The BSX Insurance Index was down 18.95 points, or 1.05 ...

Ratings agency AM Best has affirmed the financial strength rating of A+ (Superior) of the operating subsidiaries of Bermudian-based re/insurer PartnerRe Ltd. The agency also affirmed the long-term issuer credit rating of “aa-” of the operating subsid...

Just like the Olde Towne itself, an iconic women’s clothing and accessories store in St George has been given a makeover. Frangipani, long a favourite of discerning shoppers, has re-opened after a refurbishment that included plastering and cementing ...

A joint venture involving Bermudian-based offshore drilling outfit Seadrill Ltd has secured a contract for a project in Angola. The company said the contract has been secured by Sonadrill Holding Ltd, the 50:50 joint venture with an affiliate of Sona...

Mosaic Insurance, the Bermudian-based global specialty insurer, has appointed Finn McGuirk to lead its political risk business. The company said the experienced Lloyd’s of London specialty underwriter will serve as SVP, head of political risk, respon...