Bermuda News Updates

The Bermuda Economic Development Corporation [BEDC] has welcomed 13 local businesses into the 8th cohort of its Enterprise Bermuda Incubator program. A spokesperson said, “The Bermuda Economic Development Corporation [BEDC] has welcomed 13 local businesses into the 8th cohort of its Enterprise Bermuda Incubator program. The Incubator supports entrepreneurs who are launching a new venture …

Bermuda Elevator Systems Ltd. [BESL] today announced that it is transitioning to a new brand, Elevity, over the coming weeks. A spokesperson said, “Founded in 1979, the company has grown to become Bermuda’s leading independent elevator company, representing world-class manufacturers such as TK Elevators, Savaria, Smartrise, and Matot. The new brand Elevity honours our core …

Prismic Life Holding Company, LP announced an agreement with Prudential Financial, Inc. to reinsure a portion of Prudential’s recently originated Japanese whole life policies. A spokesperson said, “Under the terms of the agreement, Prismic will reinsure approximately $5 billion of reserves backing USD-denominated Japanese whole life insurance policies originated by Prudential’s Japanese affiliates. Prudential’s obligations …

October 5 saw 14,403 shares trade on the Bermuda Stock Exchange, valued at $406,807.65 BD. 14,403 shares were traded by Allshores Limited, closing up 7.4% at $29.00 per share. The BSX finished at 3,674.19, up 0.54% on the day. There was 1 advance, 0 declines, and 44 remained unchanged. The full report for the day …