Business

SiriusPoint Ltd, the global specialty re/insurer headquartered in Bermuda, has announced its investment in Samos Insurance, a US and Canadian MGA platform which offers a first-of-its-kind accidental d…

An award-winning documentary film made by a Bermudian-based production company is to screen on the island for the first time.
It is the uncovered story of forced slavery in textile manufacturing at th…

Venture capitalists, G2D Investments Ltd, has announced a first quarter 19 per cent decrease in global funding to start-ups, down to $143.9 billion compared to the record breaking 4Q21.
The first quar…

The RG/BSX Index closed again unchanged at 2,218.00, after a day with no trading on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited closed up 15 cents at $31.58 on the New Y…

Bermudian-domiciled Monument Re Group, the reinsurer and asset consolidator, has reached agreement with Zurich International Life Limited to acquire the closed book portfolio of ZILL’s Singapore long …

Bermudian-based Nordic American Tankers Limited, the oil tanker company, expects better days ahead after reporting a net loss of $27 million for the first quarter of the year.
That compares with a net…

Bermuda market veteran Barry Zurbuchen has been appointed as a non-executive director to the board of island-based Peak Capital Ltd, the wholly-owned subsidiary of the Hong Kong-based global reinsurer…

The chief executive officer of Borr Drilling Limited, the oilfield services company based in Bermuda, remains optimistic despite a $51.3 million net loss reported by the company for the first quarter …

Axis Insurance, the specialty insurance business segment of Bermudian-based Axis Capital Holdings Limited, is combining its corporate accident and supplemental health benefits business under a new nam…

Climate change has made a significant impact on the catastrophe modelling industry, a leader in the sector told a sold-out audience at the inaugural Bermuda Climate Summit.
Industry veteran Karen Clar…

Poised for growth, a managing general agent backed by the Japanese multinational conglomerate holding company SoftBank Group Corporation, is pioneering a new insurtech strategy.
Envelop Risk has launc…

The RG / BSX Index Index closed unchanged at 2,218.00, after a day with no trading on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited closed up 61 cents at $31.43 on the New…

AM Best has affirmed the financial strength ratings of A (Excellent) and the long-term issuer credit ratings of “a+” (Excellent) of Bermudian-based BNY Trade Insurance Ltd and The Hamilton Insurance C…

Höegh LNG Partners LP, the Bermudian-based floating liquefied natural gas service provider, has entered into a definitive merger agreement with Höegh LNG Holdings Ltd, the island-registered company, i…

Ten directors have been re-elected by shareholders’ vote at the Annual General Meeting of The Bank of N.T. Butterfield & Son Limited.
Re-elected at the meeting, which was held virtually, were Mich…

Gross written premiums were up by 92 per cent for the first three months of the year in the programme management business of Randall & Quilter Investment Holdings Ltd, the Bermudian-based non-life…

Bermudian-based Charles Craigs has been promoted to group head of reinsurance at Canopius Group, the global specialty re/insurer with an operation on the island.
The move comes as the Jersey-domiciled…

Bermuda Microsystems Group is celebrating 30 years of business this month with a brand update that the company says reflects where it is as a business today and where it’s heading in the future.
The c…

Bermuda reinsurers may opt for declining participation in the Florida property market ahead of the projected above average Atlantic storm season forecast by climatologists.
Even after the Florida legi…

There is a big opportunity for the insurance industry in the arena of “speeding up transition” to a low carbon economy, said Richard Dudley, global head of climate strategy at Aon.
Mr Dudley was speak…

A third of reinsurance buyers will buy more, or significantly, more reinsurance protection during his midyear renewal season, according to an industry survey.
While 22.5 per cent said they will buy le…

The Bermudian online payment solutions provider, First Atlantic Commerce, has announced an alliance with the FinTech Association of Trinidad & Tobago, a not-for-profit organisation that provides o…

Three new members have been appointed to the executive management committee at Valaris Limited, the Bermudian-based offshore drilling company.
Chris Weber will join Valaris as senior vice-president an…

The insurance division of Bermudian-based Everest Re Group Ltd has expanded into Latin America after receiving regulatory approval to operate in Chile.
Everest Insurance will do so under the name Ever…

The refusal by shareholders to sanction the sale of Bermudian-based Randall & Quilter Investment Holdings Ltd has had a negative impact on the ratings assigned to the company and three of its subs…

It struck in ferociously with 150mph winds in the late afternoon. The turmoil was relentless for 12 hours straight through the night.
On the shore line, solid stone homes collapsing under the assault …

Summer’s just around the corner, which means you might be thinking about one of my favourite things: vacation! In fact, I always joke that vacation planning is basically one of my spiritual gifts. But…

Apex Group Ltd, the global financial services provider established in Bermuda in 2003, has acknowledged its massive expansion since the close of recently announced acquisitions.
The business has grown…

One Communications has expanded their unlimited data carry-on roaming destinations to include Canada, the United Kingdom, and 15 island nations in the Caribbean.
This is in addition to unlimited data …

Massachusetts Mutual Life Insurance Company has joined Bermudian-domiciled financial services holding company White Mountains Insurance Group Ltd as an equity investor in Kudu Investment Management LL…

AM Best has affirmed the financial strength ratings of A (Excellent) and the long-term issuer credit ratings of “a” (Excellent) of Aspen Bermuda Limited (ABL) and three related companies — Aspen Insu…

The Bermuda Climate Summit 2022 really “hit it out of the ballpark”, John Huff, Association of Insurers and Reinsurers president and chief executive officer, said at the close of the two-day event.
Th…

London-based Hamilton Global Opportunities plc has completed a second investment in Miami International Holdings Inc, the parent company of the Bermuda Stock Exchange, for $2.15 million through a seco…

PartnerRe Ltd has had its ratings affirmed on the eve of its $9 billion sale to French mutual insurer Covéa.
AM Best affirmed the financial strength rating of A+ (Superior) and the long-term issuer c…

The Bank of N.T. Butterfield & Son Limited finished up 88 cents or 2.98 per cent today to close at $30.40 on the New York Stock Exchange.
Meanwhile the Bermuda Stock Exchange was unchanged for the…

Seadrill Limited, the offshore drilling company based in Bermuda which came out of Chapter 11 bankruptcy and provisional liquidation in February, has reported an operating profit of $42 million for th…

Net profits more than tripled to $24.3 million in the first quarter of the year for Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas.
That, …

Conyers has announced the recipients of their Legal Education Awards for 2022, providing $70,000 in funding to five local law students.
Sierra Brangman was presented with the Conyers Legal Scholarshi…

Axis Capital Holdings Limited has announced a $250,000 endowment to international business school INSEAD to create a research fund on behalf of the company’s former chairman of the board.
The Michael …

A Madison Avenue agency, which specialises in travel and lifestyle public relations, has taken over as image maker for the Hamilton Princess Hotel.
Laura Davidson Public Relations was last year listed…

Convex Group Limited, the Bermudian-based international specialty re/insurer, has announced a partnership with Bermudian Olympic Games gold medallist triathlete Dame Flora Duffy.
For the next three ye…

Industry veteran David Harris has joined Bermudian-based Everest Re Group Ltd as senior vice president, chief reserving actuary, succeeding Ellen Edmonds.
He will report to Everest Group chief operati…

Bermudian-based life reinsurer and retirement services company Athene Holding Ltd and its subsidiaries have received credit ratings upgrades from Fitch Ratings.
Fitch upgraded the Insurer Financial S…

The head of the US National Wildlife Federation has encouraged insurance professionals to invest in ways to not just predict climate risk, but actually reduce it.
Speaking at the inaugural Climate Cha…