Business

Resolution Re, the Bermudian reinsurance platform of Resolution Life, the long-term legacy life insurance solutions provider, has entered into a reinsurance agreement with The Dai-Ichi Life Insurance …

The credit ratings of BF&M Limited and its insurance subsidiaries remain unchanged following the company’s announcement of a strategic review, AM Best has reported.
The ratings agency’s report inc…

Four Bermuda Foundation for Insurance Studies scholars flew to London on the weekend for an intensive two-week internship.
They visit 18 (re)insurance companies and other related organisations during…

American Overseas Group Limited, the Bermudian-based holding company, has reported consolidated net income available to common shareholders of $700,000, or $15.06 per diluted share, for the three mont…

Envelop Risk continues to grow its Bermuda platform with the hiring of David Ross, the accomplished underwriter with ILS experience in both deal analytics and capital management.
The MGA and cyber te…

Relm Insurance has explained that a Canadian regulator’s claim of inappropriate advertising in Ontario is based on a misunderstanding and not any company wrongdoing.
The company issued a statement thi…

The government has threatened Bermuda’s banks to rein in escalating bank fees and globally-abnormal bank charges, or face government-imposed limits.
And a near 10 year old Progressive Labour Party pro…

Bermuda International Long Term Insurers and Reinsurers has increased the size of its board of directors from 10 to 15 with the appointment of an additional five members.
Biltir, which represents 68 l…

Relm Insurance has explained that a Canadian regulator’s claim of inappropriate advertising in Ontario is based on a misunderstanding and not any company wrongdoing.
Last week, the Financial Services …

This is the first in a series of excerpts from a financial primer written by the author for modern women and their future financial security, to be published in late winter 2022.
The last few weeks of…

Dear Dave,
My father-in-law passed away earlier this year. Since then, my wife and I have faced a dilemma because of the inheritance. Her dad had several life insurance policies, and he left one to he…

The RG/BSX Index finished unchanged at 2,242.35 for the day after only one issue traded on the Bermuda Stock Exchange.
A total of 2,338 shares of Argus Group Holdings Ltd. ($14,746.26) changed hands b…

After just three months in operation, Fit to Fly BDA has given more than $5,000 to three tourism related charities, as part of its commitment to philanthropy.
“From the beginning, we knew that we wan…

AES Solar has launched Solar Roof Maintenance, a new business providing total roof care for solar panel owners in Bermuda.
Stephanie Lynam, company office manager, said AES started Solar Roof Maintena…

Marlene Cechini is the new chief financial officer at Everen Group, succeeding Ricky Lines who will assume the newly created position of chief investment officer.
Ms Cechini has been with the company …

Skuld, the Norwegian-based marine insurance provider with an office in Bermuda, is opening a Japanese branch, Skuld Japan, in Tokyo.
Jinsung Son has been appointed head of Skuld Japan. Prior to joinin…

Mosaic Insurance has been named “Cyber Newcomer of the Year” by insurtech and data services provider Advisen, a Zywave company.
The specialty insurer was honoured as an industry top performer at the n…

The Institute of Directors Bermuda hold a special “Meet and Greet” on Tuesday afternoon for those interested in learning more about their Certificate in Company Direction programme and the 2022 CICD C…

Wanda Mwaura has been appointed an independent non executive director of Gulf Keystone Petroleum Ltd.
With more than 25 years experience in the financial services sector Mrs Mwaura has extensive expe…

The government has threatened Bermuda’s banks to rein in escalating bank fees and globally-abnormal bank charges, or face government-imposed limits.
And a near 10 year old Progressive Labour Party pro…

Market reaction to news that BF&M may be sold has sent the share price soaring, up $4.95 (27.4 per cent) on the Bermuda Stock Exchange, closing Thursday at $23 after trading of 11,173 shares.
The …

The Financial Services Regulatory Authority of Ontario is warning consumers to refrain from using Relm Insurance Limited in Bermuda to obtain insurance.
The authority is warning that the company is n…

Compre, the international specialist legacy group, has redomiciled to Bermuda under the supervision of the Bermuda Monetary Authority.
The move to Bermuda is the culmination of Compre’s diversificatio…

Paul Brand is the new chief executive officer of the Convex Group.
Mr Brand founded the business in 2019 with Stephen Catlin, and has been deputy CEO since then.
Stephen Catlin, executive chairman, …

Applications for Ignite Bermuda’s business accelerator programme open Monday, and successful applicants for the sixth cohort will begin with Ignite in October.
They could include entrepreneurs and com…

Eva Frazzoni has joined the Association of Bermuda Insurers and Reinsurers as a summer intern.
One of 57 paid interns at Bermuda’s insurers and reinsurers, Ms Frazzoni will work with Abir’s policy and…

BMS, the independent insurance and reinsurance broker has made seven industry hires to its rapidly growing casualty division.
They will support BMS’ network of international clients as well as fuellin…

Sunny Side Solar is donating 46 solar panels to what may be the island’s largest charity feeding programme – the initiative at Christ Church Warwick.
Sunny Side Solar said the gift will substantially …

Bermuda’s premier publishing house, Bermuda Press Holdings Ltd., has reported half-year profits to the end of March of $190,000, down from $399,000 for the comparable period in 2021.
The owner of this…

The RG/BSX Index closed down 0.24 of a point (0.01 per cent) to 2,196.92, with two issues trading and one declining.
The decliner was Argus Group Holdings Ltd., falling a penny (0.2 per cent) to $6.30…

BF&M Limited may be up for sale.
The domestic insurer – one of the largest on the island – has initiated a review of strategic alternatives “to maximise shareholder value” and which may include th…

Six Bermudian students will be learning about the global reinsurance industry this summer as part of an Ariel Re internship programme.
The interns will learn about a variety of roles within the sector…

BMS, a Bermuda-based independent specialist insurance and reinsurance broker, has appointed Ian Gormley as the new United Kingdom chief executive officer.
Mr Gormley will report to Nick Cook, chief ex…

Encore Capital Management has chosen Apex Group, a Bermudian-based global financial services provider, to give fund administration, investor reporting and tax services.
Encore is a vertically integrat…

A half century old Bermuda mutual insurance group, established to support the global oil industry, is rebranding.
After transitioning many years ago to support not just oil, but wider energy projects,…

Due to inflation food prices are going up almost everywhere in Bermuda, except the English Market in Hamilton.
Next week grocery store owner Fabio Iannone plans to bring the price down on all his frui…

The RG/BSX Index closed down 0.48 (0.02 per cent) at 2,197.16 for the day, after 3,000 shares of Argus Group Holdings Ltd. ($18,930.00) changed hands and the issue finished for the day down two cents …

Bermuda still has hundreds of Russian aircraft on its registry, long after Russian authorities claimed they had re-registered them to the Russian registry.
Aircraft cannot legally be registered in mor…