Business

PartnerRe Ltd will voluntarily delist its 4.875% Series J Fixed Rate Non-Cumulative Preferred Shares from the New York Stock Exchange, and deregister the preferred shares under the US Securities Excha…

A lack of evening entertainment in Bermuda, is hurting tourism, according to one local event promoter.
Declan Harris, organiser of this month’s Collie Buddz show at Snorkel Park in Dockyard said: “Ber…

An application by the Bermuda Monetary Authority to withdraw its petition in the matter of White Rock Insurance (SAC) Ltd was adjourned by the Supreme Court of Bermuda to allow for argument opposing t…

Bermudian-based Allied World has made a two-year financial commitment of $700,000 to the St Baldrick’s Foundation in the United States.
The donation will support the ongoing work of the foundation, an…

Toronto-based Onex Partners has completed its acquisition of Accredited, the global P&C programme manager.
The deal comes after Teneo (Bermuda) Ltd was appointed joint provisional liquidators of B…

Five small and medium-sized businesses have benefited from the Bermuda Economic Development Corporation’s 9th cohort of the Enterprise Bermuda Accelerator, a six month programme helping owners grow th…

Bermuda Press Holdings Ltd, the owners of The Royal Gazette, are reporting an unaudited loss of $568,000 for the first half of the year, as compared to a $33,000 profit for the same period in 2023.
In…

Bermudian-based Relm Insurance, the specialty insurance carrier supporting emerging and innovative industries, has announced a partnership with SideChannel, the provider of cybersecurity services and …

Bermudian-based Phil Schmidt has been appointed chief strategy officer of Markel, the insurance operations within Markel Group Inc.
The company said Mr Schmidt, who joined Markel last October as a man…

A wholly owned subsidiary of Enstar Group Limited has signed an adverse development cover agreement with Insurance Australia Limited, on behalf of Insurance Australia Group.
Under the terms of the ag…

Financial services investment holding company, Somers Ltd, has reported a net profit of £28.3 million (or nearly $35.8 million) for the first half of the year to March 31, (compared to 2023: net loss …

More visitors renting cycles would substantially improve Bermuda tourism, if only locals would stop warning tourists against them, a livery cycle owner has insisted.
The number of visitors who opt for…

SiriusPoint Ltd, the Bermudian-based global specialty insurer and reinsurer, and Euclid Security Programs LLC, a boutique managing general underwriter specialising in security industry risks, have ann…

Bermudian-based Axis Capital Holdings Ltd has expanded its partnership with Elpha Secure, which began in 2021 when Axis became both an investor in and a capacity provider for the company.
“In extendin…

The RG/BSX Index ended today at 2,413.29, up 19.86 points (0.83 per cent), with 1,400 shares changing hands.
One thousand Butterfield Bank shares traded to finish at $33.50, up 20 cents (0.6 per cent)…

Brit Ltd has signalled its intention to expand the scope of Brit Reinsurance (Bermuda) Ltd with the appointment of former PartnerRe president and CEO Jacques Bonneau as a non-executive director of the…

A new cohort of future leaders begin a “summer business camp” Monday, designed to develop a new wave of entrepreneurs.
There have already been 56 graduates of the Summer Student Entrepreneur Programme…

The world’s fourth largest credit ratings agency has assigned to Bermuda Long-Term Foreign and Local Currency – Issuer Ratings of “A”.
At the same time, Toronto-headquartered Morningstar DBRS assigned…

Seadrill Ltd, the Bermudian-based offshore drilling company, has completed the sale of its interest in an offshore Qatar jack-up fleet in a cash deal worth $338 million.
Seadrill sold three jack-up ri…

Teneo (Bermuda) Ltd has been appointed joint provisional liquidators of Bermudian-based R&Q Insurance Holdings Ltd.
A hearing in the Supreme Court of Bermuda yesterday confirmed the appointment of…

Bermudian-based Oceanview Holdings Ltd has expanded its global reinsurance operations with the establishment of a new subsidiary in the Cayman Islands.
Oceanview Secure Reinsurance Ltd has been awarde…

A subsidiary of Bermudian-based Assured Guaranty Ltd has, for a second time, insured $800 million of senior Special Facilities Revenue Bonds issued by the New York Transportation Development Corporati…

When Roberta Munden and Jane Roberts announced they were opening clothing store Boho Couture in St George, some people were sceptical.
“We really loved the vibe in the historic town, but so many peopl…

Lockton Inc, the world’s largest independent and privately-held insurance brokerage, has reported global revenue of $3.55 billion for its fiscal year ended April 30, which compares with $3.09 billion …

Chubb Bermuda has welcomed three summer interns to its Chubb Select Internship Programme, which is in its 12th year.
This internship is provided to Bermuda university students pursuing a career in the…

Hannah Tildesley has joined the insolvency and dispute resolution practice at law firm Walkers Bermuda as partner.
The firm said her experience spans banking and funds litigation, appraisal actions, d…

Michael Hanson is to become a group managing partner at Carey Olsen, the international law firm, effective July 1.
Mr Hanson, who is to continue as Bermuda managing partner, will be joined as a group …

Former Fortitude Re CEO James Bracken has been named chief financial officer at Zurich North America, effective July 1.
Mr Bracken will succeed Peter Hirs, who returns to Zurich Insurance Group in Swi…

Hamilton Global Specialty, an underwriting platform of Bermudian-headquartered Hamilton Insurance Group Ltd written by Syndicate 4000 at Lloyd’s and Hamilton Insurance DAC, has appointed Niamh O’Brien…

Bermudian-headquartered Artex Risk Solutions has acquired London-based Implement Compliance Solutions & Resources Ltd.
Terms of the transaction were not disclosed.
ICSR provides consulting and sup…

When Deon Brangman decided to relocate his barbershop, Made to Fade, from Palmetto Road to the City, it took him six months to find somewhere to rent.
He wanted more space so that he could add new ser…

A new PwC survey has revealed what could be a growing exodus of workers in search of new jobs, and warns employers to invest in technology and training if they want to keep their best workers.
First i…

Hudson Structured Capital Management Ltd, which does its insurance and reinsurance business as HSCM Bermuda, has appointed Katherine Park as the head of Capital Formation and Investor Relations.
The c…

Lower winter storm losses and a recovery in personal auto results drove the US property casualty market to a strong statutory underwriting profit, year-over-year for the first quarter of 2024.
Fitch R…

Todd Link has been appointed as the new chief financial officer of Vantage Group Holdings Ltd.
Mr Link will oversee all aspects of Vantage’s financial operations, including accounting, financial plan…

Ascot Group Ltd, the Bermudian-based global specialty insurance company, has announced that Michael Sevi has joined the firm as general counsel, reporting to group chief executive officer and presiden…

HashKey Global, the digital asset trading platform, has received regulatory approval to officially launch futures trading.
The platform is operated by HashKey Bermuda Ltd under a Type F license grante…

The Bermuda Economic Development Corporation is to hold open houses on Thursday at its incubator hubs in North East Hamilton and St George.
The events are being held to acknowledge the essential role …

A popular island restaurant has officially reopened after a seven-week $1 million renovation.
The interior of the Barracuda Grill was stripped bare and rebuilt with a new bar, opening up more space at…

Several fundamental problems in Bermuda’s healthcare sector can be tackled by fintech solutions that can revolutionise healthcare payments and data exchange — and solutions first employed here will be…

Argus Group Holdings Ltd has reported net income for the year ended March 31 of $7.3 million, which compares with $15.6 million in the previous year as restated for IFRS 17.
The company said this IFRS…

Michelle Falcucci has been promoted to partner in the Bermuda office of international law firm Carey Olsen.
Ms Falcucci, who works in the firm’s corporate department, is among six lawyers promoted to …

Chaucer Group, the international specialty insurer and reinsurer with an operation in Bermuda, has appointed Hayley Spink as its group chief operating officer.
Chaucer Insurance Company Designated Act…

Blueprint Two, the project to digitalise Lloyd’s, is behind schedule, prompting the organisation to push its launch back from its planned October target date.
Lloyd’s and Velonetic, which represents t…

Bermudian-based R&Q Insurance Holdings Ltd has filed for provisional liquidation.
The company said it filed, in the Supreme Court of Bermuda on Friday, an application to appoint joint provisional …

A multidiscipline services provider in the fields of civil, structural, mechanical and electrical engineering is highlighting one of their own, congratulating an electrical engineer-in-training, for a…

Restaurateur Marico Thomas, well known for fast food, has launched his most upscale restaurant on the edge of Hamilton Harbour.
The owner of Food Hub has just opened Eight & Vine at 8 Front Street…

Short-term and holiday rental provider Coldwell Banker Bermuda Vacation Rentals has acquired local competitor BermudaRentals.com.
It brings its number of listings up to about 60, and the company belie…

The Supreme Court of Bermuda has sanctioned a scheme of arrangement that will see BW LPG Ltd, the liquefied petroleum gas shipper, move its place of incorporation to Singapore.
The company has been re…

Palomar Holdings Inc, the parent company of Palomar Specialty Reinsurance Company Bermuda Ltd, has announced two appointments to its executive leadership team.
Tim Carter has been appointed chief peop…