Business

Government is clearing the way for the expansion of the civil service with another director level appointment.
Jason Hayward, the Minister of Economy and Labour, has introduced a bill to Parliament th…

The focus of a Bermudian geneticist became a part of a discussion on AI systems that a tech journalist said has led to companies building gigantic wealth on the very personal data we often unwittingly…

Less is more.
That may be the mantra of the winning team in the 2025 KPMG Senior School Investment Challenge.
One of the Warwick Academy teams, Enterprise Explorers, topped the charts after placing th…

Claire van Overdijk KC, Appleby Bermuda’s dispute resolution partner, will be a presenter at two trust conferences at Hamilton Princess & Beach Club this month.
She will speak at the Transcontinen…

Sonia Baxendale has left the board of The Bank of N.T Butterfield & Son Limited after not standing for re-election Thursday at the Bank’s Annual Meeting, according to a bank filing with the Bermud…

The Bermuda Economic Development Corporation will hold a Lunch & Learn next Tuesday to help entrepreneurs better understand how to prepare for financing from both traditional banks and the BEDC.
…

Monument Re Ltd has transferred a €1.4 billion ($1.58 billion) reinsurance portfolio to RGA Americas Reinsurance Company, freeing up capital to strengthen its focus on life insurance consolidation acr…

Bacardi welcomed a group of hospitality students from Florida International University to its Bermuda headquarters last week, giving them a behind-the-scenes look at the global spirits industry from t…

The Economic Development Department will host the latest instalment in its 2025 fintech Webinar Series next Friday, spotlighting blockchain innovation and its real-world applications.
The virtual sess…

Even if US regulators warm to crypto, we will remain in Bermuda, the head of a Bermudian-based crypto firm told The Royal Gazette.
Philippe Bekhazi, chief executive of XBTO, spoke only hours after new…

Bermuda’s home-grown airline has partnered with Zero Hash, a fintech company with global reach and a Bermuda base, to become the first airline in the world to offer native stablecoin payments for tick…

On the same day Coinbase made global headlines with its $2.9 billion acquisition of crypto options exchange Deribit, two of the company’s top executives took the stage at the Bermuda Digital Finance …

Aspen Insurance, the Apollo Global Management-owned company, secured a valuation of $3.05 billion after its shares jumped 10.8 per cent on Thursday in their New York Stock Exchange debut, as the IPO m…

Hamilton Re has reported net income of $81 million in the first quarter of 2025, a drop of $76 million compared to the same period last year.
Commenting on the results, Pina Albo, chief executive off…

White Mountains Insurance has declared reduced net income of $33.9 million for the three months ending March 31, compared to $236.4 million for the first quarter last year.
But the company said the bo…

People packed Pier Six on Front Street for the opening of the Bermuda Digital Finance Forum, as organisers handed out money in the form of digital currency.
More than 200, from teenagers to nonagenar…

Bermuda’s size may limit scale, but its clear regulatory framework gives it a competitive edge in the fast-moving world of digital finance, according to industry leaders speaking yesterday at the ope…

Global Atlantic Financial Group celebrated the opening of its new Bermuda headquarters at Washington House in Hamilton yesterday, marking a major milestone in the company’s growth journey on the islan…

International General Insurance Holdings has reported net income of $27.3 million for the first quarter of the year, a drop of $10.6 million compared to Q1 2024.
IGI group president and chief executiv…

Citing the uncertainty in the economy, the Federal Reserve today opted to maintain the target range for the federal funds rate at 4.25 to 4.50 per cent.
As officials concede growing concern over the U…

As soon as technology company, Circle, bought Hashnote, one of the largest tokenised treasury and money market funds in the world, they moved it to Bermuda to take advantage of the island’s digital as…

Aon plc, the global professional services firm, has appointed Amanda Lyons as CEO of Aon Reinsurance Solutions in Bermuda, effective July 1 and subject to regulatory and immigration approvals.
Based i…

Global Atlantic Financial Group, the retirement and life insurer, has made a strategic expansion of its Bermuda office into a new, state-of-the-art facility at Washington House, located on Church Stre…

Developing a clearer pathway to permanent residency status is critical to the international business sector, a leading insurance executive has said.
Sylvia Oliveira, chief executive of Wilton Re, tol…

The Ministry of Finance has hit back at criticism from medicine providers, insisting every pharmacy was informed about a change to the Government’s insurance plan that lowered the approvals threshold….

KPMG in Bermuda has appointed three senior professionals to bolster its tax and advisory services.
The firm announced that Irina Razumovskaya has joined as an associate director in tax, while Niall Ki…

The Fidelis Partnership has appointed industry veteran Peter Welton as its new head of speciality.
Mr Welton brings over 20 years of experience in the specialty insurance market, most recently serving…

Everest Reinsurance has appointed Jonathan Mesagaes as head of renewable energy. He will report to John Hyland, head of underwriting and marine, and work across the firm’s global specialities division…

Offshore drilling company, the Bermuda headquartered Valaris Ltd has agreed to sell its jack-up rig Valaris 247 to BW Energy for approximately $108 million in cash.
The sale is expected to close in th…

Cyber reinsurance specialist Envelop Risk has expanded its Bermuda operations with the appointment of Jacquelynn Morley, a seasoned underwriter with nearly two decades of industry experience.
Ms Morle…

Lancashire Holdings’ Q1 statements estimate aggregate net ultimate losses related to the California wildfires, in the range of $145 million to $165 million.
Alex Maloney, group chief executive officer…

A man was found dead in Warwick on Monday morning, police announced.
A spokesman said officers responding to a report of an unresponsive male at about 8.20am found the man’s body on Tribe Road No 6.
A…

Arthur Wightman, PwC Bermuda territory leader, warned on Monday that Bermuda must act now to ensure long-term fiscal and social stability, starting with tax reform and healthcare.
Speaking at the Cham…

Bermuda Government officials are leading a local delegation to the 2025 Risk and Insurance Management Society’s annual conference, Riskworld 2025, in Chicago, from May 4 to 7, 2025.
Rims is celebratin…

A bureaucratic snag was among reasons why island-based airline BermudAir has operated without a licence since its inception, The Royal Gazette can reveal.
Even after that roadblock was cleared last ye…

Government officials have forecast that the Bermuda economy will expand 3.5 per cent to 4 per cent in 2025, driven by international business, tourism, renewed investment in public infrastructure and t…

The Ministry of Finance estimated that Bermuda’s gross domestic product grew from 4.5 per cent to 5 per cent in 2024, driven by expansion in the international business sector and a continued recovery …

Businessman Marico Thomas has been re-elected president of the Bermuda Chamber of Commerce.
He returns to work this morning heading the table at one of the chamber’s significant annual events, the Bud…

BF&M Ltd has kept its strong ‘A’ (Excellent) financial strength rating from the independent rating agency AM Best. The news comes after BF&M’s recent merger with Argus.
The ‘A’ rating means A…

The Markel Group has reported net income of $129 million during Q1, compared to $1.05 billion for the same quarter in 2024.
Operating revenues remained stable at $2.1 billion, compared to the same thr…

Bermudian-based Brookfield Renewable Partners LP has reported a net loss of $108 million for the three months ended March 31, 2025, compared to a $70 million loss in the comparative period last year.
…

The RG/BSX Index rose 4.67 points (0.18 per cent) Friday to close at 2,652.34. This was based on the trading of 300 shares of BF&M. The company rose 49 cents (3.9 per cent) to close at $16.50.
The…

Belco employees, industry professionals and students gathered on Friday to mark the company’s annual Occupational Health, Safety and Environment Day under the theme “Lead Safely, Live Safely”.
The day…

Vision Bermuda has appointed Erica Ingemann as its new executive director, bringing fresh leadership to the organisation as it continues its mission to support people with vision loss.
Ms Ingemann, a …

Bermuda insurers and reinsurers estimate they will incur gross claim losses of almost $10 billion in payments to policyholders and cedants in the United States to cover the damaging effects of the Jan…

Hamilton Insurance Group member companies have maintained excellent credit ratings in a recent assessment.
AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer …

Most digital identity service providers in Bermuda will need to comply with a new industry framework, regardless of the specific services or activities they perform.
The BMA confirmed this in a letter…

The Economic Development Department and Privacy Commission, are hosting a webinar to introduce the 2025 iteration of the privacy innovation and knowledge-sharing sandbox.

Building Bold Ideas, Safe…

The RG/BSX Index remained idle at 2,647.67 with no trades on the domestic companies board of the Bermuda Stock Exchange.
Meanwhile, the Bank of N.T. Butterfield & Son was 44 cents (1.10 per cent) …

The Everest Group has reported first quarter profit of $210 million, down from $733 million in the same period last year.
The firm’s president and chief executive officer, Jim Williamson, attributed t…