Business

Darag Group, the legacy acquirer with a focus on the European market, has agreed to sell, subject to regulatory approvals, its North American and Bermuda business entities to the RiverStone Group.
The…

A planned soft launch turned into a “run on the restaurant” as word got around the island that KFC had reopened, according to the franchise.
The Queen Street business closed at the beginning of the ye…

A subsidiary of Bermudian-based Arch Capital Group Ltd has completed a major deal.
Arch Insurance North America has closed the acquisition of the US MidCorp and Entertainment insurance businesses from…

Pine Walk Capital Ltd, the specialist managing general agent platform and wholly owned subsidiary of The Fidelis Partnership, has launched Novagen, a new renewables MGA in collaboration with Novagen C…

Everest Group Ltd has named industry veteran Bill Hazelton as executive vice-president of Everest Insurance and president of North America Insurance.
Mr Hazelton most recently served as head of US Ret…

Bermudian-registered International General Insurance Holdings Ltd has reported a dip in second quarter net income year-over-year.
IGI said net income for the quarter ended June 30 was $32.8 million, w…

James River Group Holdings Ltd has reported net income of $5 million in the second quarter of the year.
Net income from continuing operations available to common shareholders was $11.9 million.
Th…

The Bermudian-based Everen Group, a group of leading energy insurance companies, has appointed Robert Foskey as its new president and chief executive.
“I am honoured and excited to take on the role of…

SiriusPoint Ltd, the Bermudian-headquartered global specialty insurer and reinsurer, has reported net income available to common shareholders of $109.9 million in the second quarter of the year.
Core …

The credit ratings of StarStone Insurance Bermuda Ltd and its subsidiary, StarStone Insurance SE of Lichtenstein, are unchanged following the announcement that their parent company, Enstar Group Ltd, …

Record net investment income helped propel Bermudian-based Everest Group Ltd to deliver second quarter net income of $724 million.
The company reported $4.7 billion in gross written premium with year-…

Palomar Holdings Inc, the parent company of Palomar Specialty Reinsurance Company Bermuda Ltd, has reported second quarter net income of $25.7 million, a 46 per cent jump compared with the prior year …

Bermudian-based Axa XL has appointed Todd Wilhelm as the head of Specialty, Asia, and Guillaume Parard as the head of P & C, Asia.
In his new role, Mr Wilhelm will lead the Specialty team, which e…

BMS Group, the independent specialist insurance and reinsurance broker with an operation in Bermuda, has agreed to acquire David Roberts & Partners, the British-based independent insurance broker….

Total assets in Bermuda’s banking sector were up 1.3 per cent to $24.1 billion in the first quarter of the year, a report by the Bermuda Monetary Authority reveals.
However, the BMA’s quarterly bankin…

Paradise Mobile, the Bermudian-based telecommunications company, is the title sponsor of SailGP’s first pre-season training camp.
Beginning on August 25, Rockwool Denmark, Germany, United States and B…

Fifty-eight employees of Aircare Ltd have become certified in CPR/first aid, the company reported.
The training, held by Worksafe BDA, is offered to staff every two years to meet re-certification requ…

Retail sales volume in Bermuda increased by 4.7 per cent year-over-year in January, according to figures released today by the Ministry of Economy and Labour.
That figure was determined after adjustin…

Twenty-two-year-old Kwe Simmons and Tea-Tephi Pringle, her senior by one year, have something in common — both are passionate about realising their dreams.
They are interning at entrepreneurial accele…

Veteran industry executive Joe Boren has been named chairman of a new advisory board established by Mosaic Insurance to help guide the company’s strategic growth, particularly across North America.
Th…

Bermudian-based Talcott Financial Group, an international life insurance group, has announced a ground-breaking flow reinsurance transaction between its subsidiary, Talcott Life Re Ltd, and The Dai-ic…

For me there is no greater joy then finishing work and getting to see that cute little face, with a wet little nose and a tail that can’t stop wagging.
I just love my doggy; she is the cutest, funnies…

Dear Dave,
How do you feel about someone buying a vacation home, then renting it out when they’re not there?

– Randall

Dear Randall,
As long as you’re debt-free and buying with cash, I’m cool wit…

Arch Capital Group Ltd has reported that second quarter net income available to common shareholders nearly doubled year-on-year, increasing to $1.26 billion from $661 million in the prior year quarter…

Axis Capital Holdings Ltd has reported second quarter net income of $204 million, up from $143 million in the prior year quarter.
Operating income was $250 million, compared with $191 million in the s…

Ocorian, the specialist global provider of fund administration, capital markets, corporate, trust and regulatory and compliance services, has appointed Tania Mohacs as managing director, Bermuda.
Ms M…

Bermudian-based reinsurance firm PartnerRe has delivered positive operating results of $366 million in the first half of 2024, it has announced.
Chief executive Philippe Meyenhofer said: “Despite an a…

Boutique airline BermudAir is a “highly motivated” company that is trying to do something for the island, according to its newly appointed president.
Nico Buchholz, who is also the deputy chief execut…

Ramiah Brangman is the recipient of the Robert Clements Scholarship, awarded by the Chubb Charitable Foundation-Bermuda.
Three other students — Najee Pitt-Clarke, Tylasha DeSilva and Keiran Smith — al…

The Bermuda Foundation for Insurance Studies has awarded $320,000 in scholarship funding to 17 students focused on careers in the island’s insurance sector.
“When I look around the room, I see another…

LOM Financial Group, the international financial services company headquartered in Bermuda, has reported that profits in the first half of 2024 were flat year-on-year at $2,142,272.
That compares with…

The economy and labour minister, Jason Hayward, has congratulated students who have been awarded the Department of Workforce Development’s 2024 scholarships.
“It is an honour and pleasure to recognise…

A Sandys pharmacist thinks it is time to consider overhauling Bermuda’s pharmacy legislation.
Pharmacy manager Krzysztof “Kris” Puciaty, said this was particularly true pertaining to new service addit…

Executives have been warned that the Bank of England could step in to limit the flow of assets overseas to places like Bermuda unless controls are increased to protect pension savers, according to a r…

Clarien Bank has installed solar panels to power one of its ATM’s making it Bermuda’s first to be directly powered by a renewable energy source, the company said.
The installation, at its Somerset Bri…

Securis Investment Partners, the UK-based insurance-linked securities manager with an office in Bermuda, is to merge with Zurich-headquartered Twelve Capital, the independent investment manager specia…

Enstar Group Ltd has entered into a definitive merger agreement under which Sixth Street, the San Francisco-headquartered global investment firm, will acquire the Bermudian-based insurer for $5.1 bill…

Bermudian Christian Dunleavy has been appointed group president of Aspen Insurance Holdings Ltd and chief executive officer of Aspen Bermuda Ltd.
Under the new leadership structure, and reporting to e…

Bermuda-headquartered SiriusPoint Ltd, a global specialty insurer and reinsurer, and Hellenic Hull Management, a marine hull and machinery underwriter in Greece and Cyprus, have today announced a stra…

Determined to stem the rising tide of lifestyle-related diseases in Bermuda, fitness instructor Dave Wolffe has opened a spinning studio in Warwick.
Clients of all fitness levels can book classes at S…

A development insurance company capitalised in part by the Bermuda Government has made payouts to four Caribbean islands impacted by Hurricane Beryl, a Category 5 storm that swept across the region ea…

The financial performance of an island-based reinsurance company has been boosted by the results of a firm it acquired last year.
Last week RenaissanceRe Holdings Ltd reported second-quarter net incom…

AM Best has affirmed the financial strength rating of A+ (Superior) and the long-term issuer credit ratings of “aa” (Superior) of Germany-based Munich Reinsurance Co and its subsidiaries, which includ…

KRyS Global, the international fraud investigation and dispute resolution firm, has appointed Joseph Sitholé to lead its Bermuda office.
He joins the firm from Calgary, Alberta, where he was a senior …

Barring any health issues, if you could buy a pill that made you live for a further 15 to 20 years, thus extending your life span to 110 to 115 years, would you buy it?
Ten years ago I would have said…

Dear Dave,
I’ve made a lot of stupid money mistakes in the past. Even though I finally paid off six figures in debt a few years ago and am in control of my finances for the first time in my life, I’m …

Chubb, the global insurer and reinsurer with operations in Bermuda, has reported second quarter net income of $2.23 billion, up 24.3 per cent year-over-year.
Core operating income was $2.2 billion, up…

Businesses in North East Hamilton are gearing up to join the Cup Match party.
The Court Street Market Association will stage its third annual Cup Match Extravaganza on Sunday from 1pm until 6pm.
Vehic…

RenaissanceRe Holdings Ltd has reported second-quarter net income available to common shareholders of $495 million, a jump of 159 per cent year-over-year.
Operating income in the quarter was $650.8 mi…

Applied Research Associates Inc has released its latest and most comprehensive version of HurLoss Hurricane Catastrophe Model software, including a greatly expanded full North Atlantic basin event set…