Business

International General Insurance Holdings has reported net income of $105.1 million for the first nine months of the year, a dip of $10.2 million compared to the same period last year.
Net premiums we…

Gibbons Company cut the ribbon on Palm Lane, its new home furnishings store at 17 Reid Street, today and hopes to open to the public later in the week, offering premium bedding, furniture, towels …

The RG/BSX Index fell 6.83 points or 0.23 per cent to end the day at 2,972.68 on the Bermuda Stock Exchange.
Watlington Waterworks saw 1,234 shares move with the price dipping $4 or 13.3 per cent to $…

Butterfield has reopened its Somerset Banking Centre at 45 Mangrove Bay Road following a multi-million-dollar investment in its full renovation.
The bank said in a statement that the changes enhance t…

Vantage Group Holdings has enacted a series of strategic leadership promotions across its reinsurance division and partnership capital platform.
The firm said the changes reflected its significant be…

Conduit Holdings, the parent company of Bermudian-based reinsurer, Conduit Re, has appointed Stephen Postlewhite as chief underwriting officer, effective January 26.
Mr Postlewhite brings nearly 30 ye…

Gold Reserve Ltd has asked an American appeals court to halt the court-supervised sale of shares in Citgo Petroleum’s American parent company, alleging that the process has been tainted by undisclosed…

To avoid new import taxes in the United States, Gibbons Company is sourcing fewer items from North America, its chief executive has revealed.
The head of Gibbons Company said import taxes enacted in t…

A fifth of insurance payouts after Hurricane Melissa could originate from Bermuda’s reinsurance market, according to experts at a recent event that highlighted how local claims professionals play a c…

Butterfield Bank will keep an eye on the development of cryptocurrency as more American companies explore its value.
Analysts at the bank’s third-quarter earnings call sought its position on crypto fr…

Teekay Tankers Ltd, one of Bermuda’s leading shipping companies, reported third-quarter net income of $92.1 million, or $2.66 per share, up sharply from $62.6 million in the previous quarter, as the f…

Web Connectivity Limited, a Zywave company, has launched an enhanced platform for treaty risk placement in Bermuda.
A spokesman for the firm said this marked a major milestone in the digital transform…

Bermuda’s banking sector maintains a solid capital position, with total assets of $24.5 billion, representing a slight increase of 0.4 per cent, according to the Bermuda Monetary Authority’s second qu…

Docosoft, an insurance and reinsurance claims technology provider, has partnered with the Bermuda Foundation for Insurance Studies to launch the inaugural Future Claims Bermuda event, held today at t…

The Caribbean Catastrophe Risk Insurance Facility SPC has announced a record payout of $70.8 million to the Government of Jamaica following the devastation caused by Hurricane Melissa — the largest si…

BermudAir is to put on a relief flight to Jamaica with aid for those affected by Hurricane Melissa.
The Bermuda-Jamaica Hurricane Melissa Relief Airlift is being organised between the airline and the…

First on my list for research is the city of Dubai, located in the United Arab Emirates. I am sure this comes as a surprise, given the conservatism of Arab nations. However, anyone who knows me well …

Dear Dave,
I’m trying to wrap my head around your commission method of giving money to kids. We have an 11-year-old and a 16-year-old. Should they have individual lists of tasks, or should there be on…

The Royal Gazette/BSX Index climbed 111.93 points, or 3.9 per cent on Friday, driven by a rise in the share price of Butterfield Bank.
Butterfield gained $2 on the trading of 1,416 shares to close on …

Bermuda’s inflation rate edged down in June, as consumers paid 1.7 per cent more for goods and services than they did a year earlier, according to the latest Consumer Price Index released by the Depar…

Retail sales in Bermuda increased modestly in June, with higher spending on motor vehicles, fuel and building materials offsetting weaker sales of apparel and liquor.
According to the Ministry of Econ…

Hurricane Melissa, one of the strongest storms to hit Jamaica, has caused the island an estimated $22 billion in damages and economic loss, according to American forecaster AccuWeather.
The event appe…

Opera Group Ltd, a privately-held group of private client, corporate and fund administration businesses based in Guernsey, has announced plans to acquire Bermudian-based Meritus Trust Co Ltd, pending …

The Fidelis Partnership will launch a new Lloyd’s syndicate, backed by funds managed by Blackstone, following in-principle approval from the Lloyd’s market.
Syndicate 2126, which will target $300 mill…

EY Bermuda, the accounting and professional services firm, will be a headline sponsor for next year’s Bermuda Risk Summit, for the fifth year in a row.
The event, hosted by the Bermuda Business Develo…

AM Best has revised its outlook on Bermudian-based Everest Group Ltd and its subsidiaries to negative from stable, citing continued uncertainty following nearly $2 billion in reserve charges over the …

The parent of Bermudian-based reinsurance company IQUW, is being acquired by Starr, a global investment and insurance organisation.
The companies have announced a definitive agreement for the purchase…

HSBC Holdings plc reported a third-quarter profit after tax of $5.5 billion, down from $6.7 billion a year earlier, as the bank absorbed $1.4 billion in legal provisions tied to historical matters in…

American International Group has announced plans to acquire a 35 per cent equity interest in Bermudian-based Convex Group, marking a major strategic investment in the island’s reinsurance market.
The…

When monster Hurricane Melissa hit Jamaica it not only threatened lives, property and infrastructure, but also one of the world’s favourite recreational habits — luxury coffee drinking.
Jamaican Bermu…

Markel Insurance’s net income was $1.6 billion for the first nine months of the year compared to $2.3 billion during the same period last year, according to the firm’s latest financial figures.
Meanw…

RenaissanceRe’s net income fell to $907.7 million in the third quarter of this year compared to $1.17 billion during the same period last year, according to the Bermudian-based reinsurer’s latest fina…

Hamilton’s port operator, Stevedoring Services, has won third place in the 2025 Ludlow Street Container Port of the Year awards.
The recognition was announced at the 55th Caribbean Shipping Associatio…

Bermudian-based insurer and reinsurer, Axis Capital Holdings Ltd, reported a sharp rise in third-quarter profit, helped by stronger underwriting results and continued growth in its insurance business….

Saudi Arabian leaders want to collaborate with Bermuda’s world-renowned insurance industry, David Burt, the Premier and Finance Minister, has revealed after discussions at a recent international confe…

Jamaica will be recovering from the effects of the destructive category 5 Hurricane Melissa for some time, with substantial expected damage.
Potential exists for major economic fallout in the country …

Rating agency S&P Global Ratings has upgraded International General Insurance Holdings Ltd’s financial strength rating to A from A-.
The rating applies to IGI’s three subsidiaries: International G…

Member companies of the Association of Bermuda Insurers and Reinsurers employed a record number of Bermudians in 2024, and made a record annual contribution of more than $1.2 billion to Bermuda’s econ…

Butterfield Bank beat analysts’ expectations for the third quarter of 2025, posting stronger profits and improved margins on the back of lower deposit costs and higher fee income.
The offshore bankin…

David Burt, Premier and Minister of Finance, said Bermuda’s leadership in digital finance was recognised by global peers as he co-chaired the Crypto Conclave at the ninth Future Investment Initiative …

A ballooning combined ratio for the insurance segment and net unfavourable reserve development dragged down Everest Group’s quarterly profit to $255 million compared to third quarter 2024 net income o…

Arch Capital Group Ltd reported a sharp rise in third-quarter net income, helped by lower catastrophe losses and strong underwriting performance across its global portfolio.
The Bermudian-based insure…

David Burt, the Premier and Minister of Finance, will play a key role in two discussions of great importance to Bermuda, during an international conference in Saudi Arabia this week that has attracted…

Bermuda’s reputation as a top-tier reinsurance jurisdiction has been pulled into an offshore regulatory spat, despite not being the primary focus, following a high-profile American media report critic…

Ninety-five per cent of enterprises that have invested in generative artificial intelligence have yet to make any profit from it, according to a new study from the Massachusetts Institute of Technolog…

The head of one of the largest artificial intelligence start-ups in the world has warned against the development of AI superintelligence — machines that outstrip human brain capability.
In the letter …

American International Group has entered into definitive agreements to acquire the renewal rights for a majority of Everest Group’s retail insurance portfolios worldwide, representing in aggregate app…

CCS Group Ltd, a Bermudian-based technology firm, and Cyber Tec Security, a British-based cybersecurity firm, have formed a new partnership to help organisations strengthen their cybersecurity resilie…

International General Insurance Holdings Ltd has appointed Malcolm Barnes, a London market veteran, as head of speciality treaty, in a move aimed at expanding the company’s reinsurance capabilities.
B…

David Burt, the Premier and Minister of Finance, will play a key role in two discussions of great importance to Bermuda, during an international conference in Saudi Arabia this week that has attracted…