Business

Evertas Inc, the Florida-based crypto insurance company with an operation in Bermuda, has named Nick Selby as its new head of European Underwriting.
Evertas Insurance Ltd is a Class 3A insurer license…

AM Best has withdrawn the financial strength rating of C- (Weak) and the long-term issuer credit rating of “ccc-” (Weak) of Bermudian-based 777 Re Ltd.
The ratings agency said: “At the time of the wit…

The board of directors of Bermudian-domiciled International General Insurance Holdings Ltd has increased the company’s existing share repurchase authorisation to 7½ million shares of its issued and ou…

As Bermuda joined London in a fresh notice of economic sanctions against Myanmar, the country’s military junta embarked on a crackdown on gold and foreign exchange traders and agents selling foreign r…

Industry veterans Yulanda Francis and Shehan Ranasinghe have joined The Nascent Group, the technology-driven insurance and reinsurance service provider based in Bermuda.
Ms Francis will serve as execu…

Exactly 94 years ago, scientists William Beebe and Otis Barton were lowered into the sea in a 4ft by 4ft iron sphere called a bathysphere.
They were the first people to see the deep ocean and live to…

Mums, I know it can feel like when your children get a break during summer vacation, your responsibilities shift into high gear.
As a mum of three little ones myself, I absolutely love summer, but I’…

When applying for life insurance, the underwriting process is a critical step to determine the policyholder’s risk and premium. At CG Insurance, we pride ourselves on a customer-centric approach that …

Axa XL has appointed Noel Pearman to the new role of chief underwriting officer, Bermuda.
The company said the appointment is part of its recently-announced insurance underwriting operations reorganis…

A former CEO of SiriusPoint International Insurance has been appointed to the board of Apollo Syndicate Management Ltd as a new independent non-executive director.
The organisation said Monica Cramér …

KompiTech Alliance Ltd has listed almost 385 million in common shares, after being newly admitted to the Bermuda Stock Exchange.
The listing comes after the IT management firm partnered with mergers a…

Justin Keith has succeeded Ian Thompson as the president and chief executive of Ascot Bermuda Ltd, overseeing all aspects of Ascot’s Bermuda operations, subject to board and immigration approval.
Mr T…

Darag Group, the international legacy specialist with an office in Bermuda, has signed a service contract with leading Italian insurer, UnipolSai Assicurazioni SpA.
Darag Deutschland AG will be managi…

New York-headquartered Ambac Financial Group Inc, the insurance holding company with a subsidiary in Bermuda, has signed a definitive agreement to acquire a 60 per cent controlling stake in London-bas…

A boutique hotel and golf course resort in Bermuda has been put on the market for $21 million.
The Newstead Belmont Hills Golf Resort & Spa was bought in 2014 by US businessman Larry Doyle, who al…

The Government’s Economic Development Department is partnering with global education platform CFTE to enhance its fintech training programme, registration for which ends today.
CFTE focuses on the fut…

Arch Insurance International, part of Bermudian-based Arch Capital Group Ltd, has appointed Ketan Motwani as UK chief operating officer, subject to regulatory approval.
Mr Motwani will be responsible …

Arch US MI Holdings Inc, a wholly-owned subsidiary of Bermudian-based Arch Capital Group Ltd, has acquired RMIC Companies Inc and its subsidiaries that together comprise the run-off mortgage insurance…

The old Blackbeard’s restaurant in St George’s has reopened after a major renovation.
Next to Fort St Catherine and overlooking Achilles Bay, the new restaurant, called Achilles, was officially opened…

AM Best has revised the outlook to positive from stable for the long-term issuer credit rating and affirmed the financial strength rating of A (Excellent) and the long-term ICR of “a” (Excellent) of B…

Almost 65 per cent of employed beauticians are non-Bermudian, according to the Department of Statistics.
When Kidist Emery started Salon Pink, she really wanted to hire Bermudians.
“On an island that…

Mazars, the international partnership operating in Bermuda and more than 100 countries and territories, together with Forvis, the US professional services firm, has officially launched their new globa…

Bermudian-based Itasca MGA Ltd, the aviation-focused managing general agent, has supported Virgin Atlantic in respect of an insurance-backed financing solution for delivery of its final A350-1000 airc…

“So weep ye ancients who deplore that Old Bermuda is no more”

Dear Sir,
Bermuda is now the home of the wealthy and the poor. The Bermuda of the Eighties and Nineties is no more. There was in the …

Bermudian-based Hamilton Insurance Group Ltd has announced that Bradley Cooper has been appointed to its board of directors as a shareholder director by Hopkins Holdings LLC, replacing Antonio Ursano,…

BW LPG Ltd, the Bermudian-incorporated liquefied petroleum gas shipper that seeks to re-domicile to Singapore, has reported a first quarter net profit after tax of $150 million, yielding an annualised…

Ratings agency Standard and Poor’s has affirmed the AA financial strength rating, financial enhancement rating, and issuer credit ratings on Assured Guaranty and its operating insurance subsidiaries.
…

With the hurricane forecast predicted to be above the 30-year-average, insurers are braced for what could be one of the busiest hurricane seasons on record.
According to a new Fitch Ratings report on …

Bermudian-based Fidelis Insurance Group has promoted Nicole Kapu-Leyland to the post of deputy general counsel.
Janice Weidenborner, group chief legal officer, said: “Nicole’s promotion is not only a …

New mobile phone service firm Paradise Mobile is temporarily taking over the Hamilton Princess & Beach Club’s popular happy hour.
Guests at this Friday’s Marina Nights will have the chance to win …

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Bermudian-based Athora Life Re Ltd and Athora Ireland plc.
Both enti…

Golar LNG Ltd, the Bermudian-based owner of tankers that haul liquefied natural gas, has reported first quarter net income of $55.2 million.
That compares with a net loss of $101.8 million in the prio…

Bermuda is on full display this week in Austin, Texas for Consensus 2024, the largest crypto conference event in the world.
The Bermuda Business Development Agency is among the sponsors for an event k…

Evertas Inc, the Florida-based crypto insurance company with an operation in Bermuda, has named Emma Rose Bienvenu as its new chief operating officer.
Evertas Insurance Ltd is a Class 3A insurer licen…

Four directors have been returned at the annual general meeting of Bermudian-based White Mountains Insurance Group Ltd.
Reid T Campbell was elected as a Class I director to a term ending in 2025.
Mar…

Former Axis Capital president and CEO Albert Benchimol has joined the board of Crestfield Risk, the Dallas-based retail broking start-up.
Mr Benchimol retired from Axis at the end of 2023 after 11 yea…

Bermuda market veteran John Berger has joined New Jersey-based Coaction Specialty Insurance Group, a privately-held specialty insurance company, as chairman of the board.
Mr Berger is the former CEO o…

Axa XL has appointed Robert Riha as chief client and distribution officer, APAC & Europe, effective July 1.
Mr Riha will lead Axa XL’s client and broker engagement as well as marketing activities …

Canopius Group, the global insurer and reinsurer with operations in Bermuda, has appointed Andy Haste as its new group chairman with effect from July 1.
Mr Haste’s former roles include group chief exe…

The Fidelis Partnership, the Bermudian-based managing general underwriter, is to open an office in Abu Dhabi.
The organisation said Fidelis MEASA (Middle East, Africa, Southern Asia) will give it acce…

Political newcomer Robert King was declared as the new MP for Smith’s North last night.
In a tight three-way race, the One Bermuda Alliance candidate garnered 209 votes.
Independent candidate Sir John…

The past 100 days have been a whirlwind of discovery, challenges, and triumphs as we have embarked on a mission to support Bermuda organisations in integrating generative AI tools and systems.
This pe…

Arch Insurance International, part of Bermudian-based Arch Capital Group Ltd, has promoted Laura Brahams to head of Third-Party Claims.
She will be responsible for overseeing the third-party claims fu…

Bermudian-based Fidelis Insurance Holdings Ltd, the global specialty insurer, has announced the launch of an underwritten secondary public offering of nine million common shares by certain of its shar…

MS Reinsurance, the global organisation with an office in Bermuda, has reported a 2023 net profit of $366 million, a result bolstered by a one-time tax impact of $93 million related to the island’s in…

A Bermudian-domiciled insurer continues to be ranked atop the International Group of Protection & Indemnity Clubs for gross premiums written.
Three Bermuda companies are among the dozen, including…

Lockton, the independent insurance broker, has appointed Jessica Cullen to lead its US Casualty practice in London.
Ms Cullen, who is relocating from New York, will be responsible for leading the prac…

Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has reported a record-breaking first-quarter net profit of $146.5 million, of which $84.9 …

The widening gap in earnings within the Bermuda workforce increases the potential for civil unrest, a Bermudian economist has warned.
Speaking at the Royal Hamilton Amateur Dinghy Club yesterday, Crai…

Bermudian-based Fortitude Re has appointed Carla Albertze as senior vice-president, head of Internal Audit.
She will be responsible for leading Fortitude Re’s internal audit team to ensure the strengt…