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AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based NEWGT Reinsurance Company Ltd. The outlook of these credit ratings is stable. NEWGT is a wholly owned s...

The Royal Gazette/Bermuda Stock Exchange Index edged down 2.68 points as Butterfield Bank’s shares slipped. Butterfield closed down five cents to close at $33.95 on volume of 400 shares worth $13,580 in the only trading on the day. The index closed...

The Washington Mall’s 50th anniversary on November 3 feels particularly poignant to the building’s longest-running tenants who have made it through Covid-19 – one of the worst retailing periods in Bermuda’s history. “It is nice to know we have survi...

There are digital assets coming in the future that could make life easier for the ordinary citizen by lowering mortgage rates and making it easier to start a business. That was the message from David Burt, the Premier and Minister of Finance, at the ...

Crystal Cruises, which was left high and dry after its parent company sought court protection in Bermuda, is to sail again under new ownership. The operator of three ocean cruise ships and five river ships closed its offices on February 11, a week af...

Cyber-risk modelling company DeNexus is on the hunt for someone local to run their new office in Bermuda. DeNexus founder and chief executive officer José Seara told The Royal Gazette he had hired a recruiter and was interviewing candidates. “It is a...

Nabors Industries Ltd, the Bermudian-based energy driller, has reported that its third-quarter operating revenues jumped by 10 per cent and the company cut its quarterly loss to $14 million in the period. Nabors said operating revenues were $694 mil...

Vesttoo Ltd, a technology-driven global insurance risk transfer platform with a collateralised insurer in Bermuda, has concluded an $80 million Series C financing round. It was co-led by Mouro Capital and a private equity fund, valuing the company at...

Carnival Holdings (Bermuda) Limited, a subsidiary of Carnival Corporation & plc, has closed its private offering of $2.03 billion of senior priority notes due in 2028. The company said it expected to initially use the net proceeds of the offering to ...

Banyan Risk Ltd, a Bermudian-based managing general agent that specialises in writing directors and officers’ insurance, has teamed up with SPAC-focused financial advisory firm Zukin Certification Services to offer help to companies going public. Zuk...