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Butterfield Bank is planning to raise about $250 million by offering 10.6 million shares in connection with its proposed initial public offering on the New York Stock Exchange. In a registration document filing with the US Securities and Exchange Com...

A new taxi dispatch service has started operations and aims to have all taxis in its network able to take credit and debit card payments and have GPS access. The company is in the process of ramping up its services, which will give customers the abil...

Two new members have joined the think-tank set up to advise Government on financial stability. Dame Amelia Fawcett and Gil Tucker have both been added to the Financial Policy Council. Bob Richards, the Finance Minister, who is also chairman of the co...

Shares of Butterfield Bank today rose more than 10 per cent after the bank announced a target price of $22 to $25 per share for its initial public offering on the New York Stock Exchange. Butterfield, in its first day trading since a ten-for-one reve...

Here’s a number everyone interested in retirement should know: 15 per cent. That’s the amount of income financial experts agree everyone should be saving to ensure they stay on track to retire with dignity. And it’s not just the experts. Most people ...

Life insurance-based weath management firm Lombard International has appointed a new senior managing director to lead the firm’s Bermuda expansion. Phil Trussell joined Lombard International from insurance company Argus, where he was vice-president a...

Former Olympian Patrick Singleton has taken the helm at the island’s biggest TV broadcaster. Mr Singleton has been appointed chief executive officer of the Bermuda Broadcasting Company, stepping up from the post of chief operating officer. Mr Singlet...

The Queen Group of companies has moved into its new home in Hamilton six weeks after its previous base was destroyed by fire. The group, which operates Bermuda Executive Services Ltd, Atlantic Caregiving Ltd, Island Shippers, Atlantic Media and Atlan...

Bermudian-based Maiden Holdings and its subsidiaries were yesterday upgraded by ratings agency AM Best. The financial strength rating went up from A- to A. The firm’s issuer credit ratings from a- to a for Maiden Reinsurance Ltd and its reinsured aff...

Insurers will be bracing for loss claims associated with the explosion of a rocket and its satellite payload on a launch pad at Cape Canaveral in Florida yesterday. A SpaceX rocket was being prepared for a test firing when it blew up. No one was inju...