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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 ...

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 & McLennan, last year saw 40 per cent of its total workforce take part in vo...

A ship management company with offices in Bermuda is involved in the building of a potentially ground-breaking gas supply vessel. The ship will be used to deliver liquefied natural gas for refuelling of ships, such as ferries, containers and cruise s...

Bermudian-based Frontline Ltd has acknowledged the decision by DHT Holdings to reject an offer to combine the crude oil tanker businesses. Frontline, which is more than twice the size of DHT in terms of market capitalisation and fleet size, had propo...

A bid by Bermudian-based Frontline Ltd to acquire an independent crude oil tanker company less than half its size, is part of consolidation pressure across the sector. And while the non-binding proposal has been rejected by the directors of DHT Holdi...

A Swiss company has signed a deal to buy a controlling share in Bermuda-based hi-tech firm QuoVadis. And WISeKey, a leading cybersecurity and internet of things company, said it expects the acquisition to add more than $20 million in revenues to its ...

Business leaders and the legal world warned that the island faces a period of “unprecedented uncertainty” as Donald Trump takes over as US president tomorrow amid campaign pledges of tax cuts and protectionism. One senior reinsurance figure said: “Th...

Bermuda’s shipping register is set to get a boost after China agreed to give island-flagged ships “most favoured” status. Captain Pat Nawaratne, head of the Bermuda Shipping and Maritime Authority, set up last year, said the move would give the islan...

Legal firm Sedgwick Chudleigh has appointed a new partner. Nick Miles, who joined the firm in 2010, joins Mark Chudleigh and Alex Potts as a partner. Mr Chudleigh said: “It is with great pleasure that we ring in 2017 by growing our partner team. “Nic...

The UK Crown Dependency of Jersey is facing a massive deficit dubbed “the black hole”. The small self-governing territory off the coast of France faces a budget shortfall of more than $178 million a year by 2019 as a result of a downturn in business....