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Butterfield Bank has completed the acquisition of the Deutsche Bank Global Trust Solutions. In a statement the bank said that former GTS employees and accounts had successfully transitioned to Butterfield and all trust and fiduciary services for for...

The chairman of Aspen Re is to retire from the company at the end of April. Brian Boornazian will also retire from his role as chief executive of Aspen Re, Americas. Chris O’Kane, group CEO, thanked Mr Boornazian for his 14 years of service with Aspe...

Bermuda has fallen seven places in the world’s top financial centres rankings and been leapfrogged by Cayman Islands, according to a report published by the City of London. The 23rd Global Financial Centres Index which is compiled by the Z/Yen Group ...

Oil Casualty Insurance Ltd made a narrow profit last year in what its chief executive officer described as “a challenging market environment”. Ocil, which has evolved from an energy-focused mutual underwriting the risks of its shareholder companies i...

A popular restaurant and bar is closing down after 10 years in business. Victoria Grill Restaurant and Rumbar Lounge, located on Victoria Street, will be closed for business effective this Saturday. The restaurant and bar are part of the Island Resta...

Technology is front and centre in the minds of chief risk officers in Bermuda, a survey has found. The second annual survey of island-based insurance CROs by professional-services firm EY found that the risk functions within companies are playing an ...

Retail sales volume rose for the first time in five months in January. The Department of Statistics reported today that retail sales in Bermuda climbed 3 per cent year over year to $87.1 million in January. After adjusting for inflation the increase ...

One hundred shares of Butterfield Bank traded on The Royal Gazette/BSX Index. The shares closed at $39.05, compared to $45 on Tuesday. The Royal Gazette/BSX Index fell 267.6 points, or 10.56 per cent, to 2,266.61. On the New York Stock Exchange, shar...

A blockchain initiative for the insurance industry, that includes XL Catlin as one of its founding shareholders, has incorporated in Switzerland. The Blockchain Insurance Industry Initiative, known as B3i, was set up as a collaboration between 15 glo...

Spring Garden Restaurant and Bar has closed after 20 years. The popular spot on Washington Lane yesterday held its final closing out sale of items, including tables, storage racks and other fittings. The Bajan restaurant and bar, named after an area ...