Business

Shaun Morris, general counsel and group chief legal officer of the Bank of NT Butterfield & Son Limited, has retired.
After serving in the role for 12 years, the bank said Mr Morris has been succe…

Dear Dave,
Our son will be graduating from high school in May, and then heading off to college in August. He will also be working during the summer to save up money for school. When classes begin, do …

The credit ratings of Bermudian-based James River Group Holdings Ltd and its subsidiaries remain unchanged following news that the company has filed a complaint in the Supreme Court, New York County, …

Stonepeak, the New York-headquartered alternative investment firm, has completed the $7.4 billion acquisition of Bermudian-based Textainer Group Holdings Ltd, one of the world’s largest lessors of int…

The International Bar Association Legal Policy and Research Unit has launched the IBA Climate Registry with the goal of helping local bar associations highlight their response to the climate crisis, a…

Actuaries are calling for more realistic climate risk assessments, including the ‘risk of ruin’: the point past which global society can no longer adapt to climate change.
The latest report from the I…

International General Insurance Holdings Ltd’s strong fourth quarter of fiscal 2023 allowed the company to finish the year with record results across a number of metrics.
Net income for the year to De…

The interests of Bermuda and Lloyd’s are very much aligned despite often being characterised as a rivalry in the world’s insurance and reinsurance marketplace, attendees at the Bermuda Risk Summit wer…

The Bermuda Monetary Authority and Lloyd’s are to collaborate to foster innovation and education access between the world’s two major hubs for insurance and reinsurance.
Making the announcement today…

As Bermuda prepares for the full application of the Personal Information Protection Act 2016 on January 1, 2025, organisations that use personal information in Bermuda must keep in mind that Pipa prot…

Compre, the Bermuda-domiciled international legacy group has appointed Zameer Mitha to the newly created role of group commercial director within the group’s business development function.
Mr Mitha, w…

Leaders of the Cayman Island hospitality industry are protesting proposals that would phase out their option to supplement low employee wages with gratuities to meet the minimum wage standard, the Cay…

A single major catastrophe event in 2024 could lead to a return to very hard insurance market conditions, a new Aon report warns.
The Q4 2023 Global Insurance Market Insights Report said increased cap…

Bermudian-based James River Group Holdings Ltd has commenced litigation against Fleming Intermediate Holdings seeking to enforce the stock purchase agreement between the two parties in relation to JRG…

Ardonagh Specialty has appointed Patrick Rastiello as chief executive officer of Equinox Underwriting North America, part of the Ardonagh Group.
The company said he will be responsible for building Ar…

IQUW, the property specialty insurer and reinsurer with operations in Bermuda, has announced a combined operating ratio of 80.9 per cent as it revealed financial results for the 2023 fiscal year.
The …

Dear Dave,
I’m trying to work my way out of debt, but it seems like something always happens to stall things or knock me backwards. I make $55,000 a year, I’m single and I have $15,000 in debt, along …

Carey Olsen Bermuda has marked this year’s International Women’s Day with a panel discussion focusing on the professional and personal experiences of four women leading the way in Bermuda.
The panel w…

Paysafe Ltd, the Bermudian-incorporated specialised payments platform, has reported best-ever revenue for 2023 as the company’s financial results improved year-on-year.
The company had full-year reven…

Bermudian-based Avance Gas Holding Ltd has completed the sale of Venus Glory, the 2008-built very large gas carrier, for cash consideration of $66 million less ordinary broker commission of one per ce…

There is a growing urgency for Bermuda business leaders to keep pace with rapid technology advances and shifting customer expectations, a new PwC survey revealed.

PwC’s Digital Readiness Survey 20…

Aon has appointed Roman Romeo as chief executive officer of its Reinsurance Solutions Bermuda unit, effective April 1.
Tony Fox, CEO and chairman of Reinsurance Solutions Bermuda, will remain as chair…

Law firm MJM Limited has promoted De Waal Nigrini to associate on the Corporate and Finance team.
Mr Nigrini was admitted as an attorney of the High Court of South Africa in 2017 and as a solicitor of…

Advisory firm Teneo has selected Andrew Shailer as the new managing director and Nathan Bickley-May as the director of their financial advisory business in Bermuda, pending immigration approval.
“Mr S…

A new syndicate established by Bermudian-based Axis Capital Holdings Ltd to support the energy transition has received full approval from Lloyd’s and will begin underwriting from April 1, the company …

Africa Specialty Risks, the pan-African focused insurance and reinsurance group with an operation in Bermuda, has formed a landmark parametric reinsurance partnership with a leading European reinsurer…

Redevelopment plans for Water Street in St George have caused business owner Astoria Smith to move, but she is upbeat about the change.
The owner of Lacquered Lounge, which offers beauty services such…

New owners have taken over Bermuda’s reggae station, Irie 98, and moved it to Front Street.
Russell “Rusty G” Griffith, Michael Terceira and Teddy Terceira, have made some changes since taking ownersh…

The board of directors of Bermudian-domiciled Aegon Ltd is to nominate Lard Friese for re-election as executive director and CEO for a further four years at the annual general meeting of shareholders …

Businesses are being urged to take part in a new survey aimed at providing insights into the current economic climate.
The Chamber of Commerce is collaborating with Narrative Research for its annual B…

Marston Becker is to succeed Henry Smith as non-executive chairman of the board of directors of Axis Capital Holdings Ltd, the Bermudian-based global specialty underwriter.
The company said Mr Smith, …

AM Best has removed from under review with developing implications and affirmed the financial strength rating of A (Excellent) and the long-term issuer credit ratings of “a” (Excellent) of Bermudian-b…

Fidelis Insurance Holdings Ltd has reported net income of $2.1 billion for its first year as a public company.
The organisation completed an initial public offering on the New York Stock Exchange on J…

Dear Dave,
I’m getting married this summer and about to become a stepmother. To be honest, I’m a little worried about the family dynamic. My fiancé’s daughter from an earlier marriage seems a bit irre…

Peter Mullen and David Gibbons have been named among the 25 most influential captive figures in the industry over the past quarter century by Captive Review.

The publication compiled the list to m…

Bermudian-based bond insurer Assured Guaranty Ltd has become the latest organisation to capitalise on a tax benefit linked to the island’s new corporate income tax legislation.
Assured Guaranty report…

Businesses are being encouraged to partner with the Department of Workforce Development to provide summer employment opportunities for students.
Jason Hayward, the Minister of Labour said the Governme…

Golden Ocean Group Ltd, the world’s largest listed owner of large size dry-bulk vessels, has declared unaudited net income of $57.5 million and earnings per share of 29 cents for the fourth quarter of…

Bermudian-based Axis Capital Holdings Ltd, the global specialty underwriter, has made two leadership appointments, hiring Stephen Lord as global chief information officer and Robert Barriero as global…

Bermudian-based Signet Jewelers, the world’s largest retailer of diamond jewellery, has appointed Sandra Cochran to its board of directors.
The board also appointed Ms Cochran as a member of the human…

Markel Group Inc, the international insurer and reinsurer with operations in Bermuda, has appointed Mike Heaton as executive vice-president and chief operating officer.
In this expanded role, the comp…

A partnership between Mastercard and Butterfield Bank during the 2023 Butterfield Bermuda Championships helped to boost charitable donations by $150,000, according to the global payment firm.
During …

Heidi Louise Smith’s greeting card business, CedarBerry Designs, arose from a difficult time in her life.
The school counsellor and grief specialist was battling against mental-health issues.
“It wasn…

Borr Drilling Ltd, the Bermudian-based oilfield services company, has reported net income of $28.4 million in the 2023 fourth quarter, which is an increase of $28.1 million compared with the third qua…

The UK National Crime Agency and the US Federal Bureau of Investigation are assisting the Royal Cayman Islands Police Service in the inquiry into a cyberattack on the Cayman Government.
Deloitte is pe…

After graduating from the culinary arts programme at the Bermuda College, Meagan Boyles struggled to find a job that suited her.
She worked at a range of local cafés and restaurants, but did not like …

Bermudian-headquartered Ardmore Shipping Corporation, which owns and operates product and chemical tankers, has reported net income of $113.4 million for 2023, which compares with net income of $135.1…

Bermuda’s business community has issued a joint statement of support for the new government budget.
Signed by major trade associations, the communique was released through the Bermuda Business Develop…

Bermudian-based Fidelis Insurance Holdings Ltd and its subsidiaries have received an outlook upgrade from AM Best.
The ratings agency has revised the outlooks to stable from negative and affirmed the …

Shareholders of Bermudian-based Textainer Group Holdings Ltd have voted to approve the proposed $7.4 billion acquisition of the company by Stonepeak, a New York-headquartered alternative investment fi…