Business

The shipping industry’s increasing reliance on digitisation and the internet has made it more vulnerable to cyberattack, according to cybersecurity website Dark Reading.
Another cybersecurity website,…

One of Bermuda’s best loved restaurants will close temporarily at the end of the month.
Ascots restaurant at the Royal Palms Hotel will change ownership and management on April 1 and be taken over by …

Global reinsurance firm Ariel Re has promoted nine employees across its Bermuda and London offices as part of its continued commitment to career development and internal growth.
The promotions span de…

The RG/BSX Index fell .29 points (0.01 per cent) to 2,548.51 today, based on the 5 cent (3.8 per cent) fall of Bermuda Aviation Services Ltd to $1.25 after the trading of 23,000 shares.
There was no o…

Cheryl-Ann Lister will hold the first chair of the new Corporate Income Tax Agency, a ministry-level public authority established to administer and enforce the laws enacted in 2023.
Ms Lister is a for…

Bermuda is set to become a living lab for the digital finance world with the launch of its inaugural Digital Finance Forum, an ambitious plan aimed at transforming the island into a global hub for blo…

Average monthly power bills from Belco are expected to increase by $14 as a result of an intended rate rise from April 1, residents have been advised.
The Government said that the Ministry of Home Aff…

Bermuda reinsurers have agreed to expedite payments that can help Californians get back on their feet from some of their worst wildfires.
California regulators have assured their lawmakers that during…

Drinks giant Bacardi said this year’s Third Annual Bacardi Black-Owned Vendor Market generated nearly $30,000 for small business owners.
Held on the lawn at the Bacardi global headquarters on Pitts Ba…

The shake-up at Golden Ocean Group Limited continues with significant board changes after maritime group CMB.TECH NV three weeks ago announced the acquisition of a controlling stake in the Bermuda-bas…

Bermuda-based reinsurer Fortitude Re has announced a $4 billion reinsurance agreement with Japan’s Taiyo Life Insurance Company, which will expand its footprint in the Japanese market.
The deal, which…

Bermudian-based liquefied natural gas specialist Golar LNG has signed finance lease agreements with a group of Chinese leasing companies to refinance $1.2 billion in existing debt tied to its floating…

Global speciality insurer and reinsurer IQUW has received an A- (Excellent) financial strength rating from AM Best, marking a major step in the firm’s expansion of its Bermudian-based reinsurance plat…

The RG/BSX Index fell 4.05 points (0.16 per cent) to 2,548.79 today, based on the $2.50 (33.3 per cent) decline of Bermuda Press (Holdings) Ltd to $5 after the trading of 1,300 shares.
There was no ot…

The Bermuda Business Development Agency has released its End of Year Report for 2024, which highlighted a landmark shift to an Investment Promotion Agency model. This transition aims to enhance Bermud…

SiriusPoint Ltd, a global speciality insurer and reinsurer has announced a new strategic alliance with one of the largest independent insurance brokerages in the United States.
The firm has partnered …

Bermuda: Re+ILS is once again celebrating the achievements of women in the workplace with its Women in Hamilton feature. The annual section shines a spotlight on women making a difference in Berm…

Christian Dunleavy has been appointed a director of Aspen Insurance Holdings Ltd, and Michael Lagler appointed a non-executive director.
Mr Dunleavy is group president and chief executive officer of A…

When Brian Duperreault started as an actuary at AIG, he thought the firm’s name sounded so phoney it had to be a CIA front.
Today, AIG can be found in more than 80 countries, including Bermuda, and em…

The Bermuda College Foundation has received a $62,250 donation from presales of the new biography, Faith & Purpose: The Life & Vision of Insurance Industry Icon Brian Duperreault.

Association…

This month, the Privacy Commissioner of Bermuda released his Financial Services Guidance Notes: Final Report.
After seeking, and receiving, input from the financial services sector last year, and issu…

Mangrove Property Insurance Company, the Florida-based start-up led by Bermuda market veteran Stephen Weinstein, has been approved by the Florida Office of Insurance Regulation to assume policies from…

The Federal Reserve kept its benchmark interest rate unchanged at 4.25 per cent – 4.50 per cent today, as expected, but its economic projections have drawn scrutiny amid US President Donald Trump’s ev…

The MoonGate Group has again distributed its “We Care Packages” to vulnerable persons in the community. Due to increased demand, the campaign’s day of giving has grown from 100 distributed packages to…

Paradise Mobile is kit sponsor and 5G data provider for Bermuda Rugby, outfitting the national team in sleek, vibrant pink jerseys that are as bold as their style of play, the company said.
The partne…

The parent company to the Bermuda Stock Exchange is buying the International Stock Exchange.
Miami International Holdings, Inc and The International Stock Exchange Group Limited have reached agreement…

As Aegon’s new holding company prepares to tackle recruitment, housing and the cost of living on the island are a definite concern.
It started with one employee in September 2023, and is now up to six…

Ricardo Lara, the California Insurance Commissioner, has continued to fight criticism over his visit last week to the Bermuda Risk Summit.
He returned to Sacramento to a storm of controversy, having m…

PartnerRe has reported net income of $1.44 billion for 2024, compared to $2.3 billion for the previous year.
In their latest financial statements for the full year, the firm also revealed positive op…

The RG/BSX Index rose 97.92 points (3.99 per cent) to 2,552.84 today, based on the $1.75 (4.9 per cent) rise of Butterfield Bank to $37.75 after the trading of 580 shares.
There was no other activity …

LOM Financial Limited has posted a strong financial performance for 2024, with full-year profits rising to $4.76 million, or $0.97 per share, compared to $4 million, or $0.80 per share, in 2023.
Reve…

The Government will learn what business leaders really think of the first budget under a corporate income tax regime at the Bermuda Chamber of Commerce’s annual Budget Breakfast on May 5 at the Hamilt…

The insurance-linked securities market posted another year of strong returns in 2024, with total capacity reaching an estimated $107 billion by year-end, according to a new report from AM Best: ILS Ma…

Elementum Advisors has appointed Jeff Davis and Paul Barker as chief investment officers, marking a leadership transition within the firm’s catastrophe bond and collateralised reinsurance investment d…

When Sylvia Oliveira first came to Bermuda to work as a young life actuary, the regulatory requirement for a life insurance company was to hold $250,000, and that was it.
“Obviously, companies held mo…

Ricardo Lara, the California Insurance Commissioner, is in hot water in Sacramento for attending the Bermuda Risk Summit last week, instead of the first hearings of the year for lawmakers in the state…

A new artificial intelligence-driven parametric insurer has launched in Bermuda and Texas, aiming to transform how natural catastrophe risks are underwritten and managed.
Mythen, founded by insurance…

The RG/BSX Index fell 58 cents (0.02 per cent) to `2,454.92 today, based on the 10 cent (7.1 per cent) decline of Bermuda Aviation Services Ltd to $1.30 after the trading of 197,300 shares.
Other trad…

Devonshire Cougars 2 Paget Lions 0

Police were called as tempers flared during an often violent FA Cup semi-final at Bernard Park yesterday.
Devonshire Cougars forward Kamali Davis was involved i…

Insurance icon Brian Duperreault has dismissed concerns about possible fallout from the introduction of corporate income tax in Bermuda, predicting things will be fine.
“I do not think the tax is goin…

A warning has emerged from a just-concluded insurance conference about future Bermudian employment opportunities in the industry and today’s education system.
A top executive told Bermuda Risk Summit …

Tucker’s Farm Corporation has acquired one of the largest family-owned locksmith businesses in the US, marking the Bermudian-based investment vehicle’s expansion into the security sector through its n…

Hamilton Global Specialty has appointed Sinead Cormican as active underwriter of Syndicate 4000 as of April 1, subject to regulatory approval.
Ms Cormican, who has served as deputy active underwriter …

Auto Solutions team member Somers Smith has been named Sales Associate of the Year 2024 for Suzuki Caribbean, beating out 116 sales associates across 22 islands in the Caribbean.
Mr Smith, who began a…

A global financial technology firm and a stablecoin market leader will bring its newly acquired Hashnote Tokenised Money Market Fund, under its existing Digital Assets Business Act licence in Bermuda….

Gallagher Re has launched their Cyber-Risk Adjusted Rating Index, a measure of the change in reinsurance prices adjusted for expected changes to the underlying level of risk.
The company said that un…

Dear Dave,
I started listening to your show, and following the Baby Steps, three months ago. I’m already seeing great results with my money. I have a question about work-from-home jobs.
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Acord Solutions Group has launched the Adept Bermuda Regional Hub, offering one million free digital messaging transactions to new Bermuda-based clients in 2025. The initiative aims to accelerate the …

Bermuda represents about 35 per cent of the global reinsurance capacity, a local reinsurance executive revealed at the Bermuda Risk Summit.
“That is an amazing amount for such a small island,” said J…

Bermuda’s insurance industry is better positioned than most to navigate the geopolitical and regulatory minefields facing the world today, but industry leaders at the Bermuda Risk Summit emphasised th…