Business

Apex Group Ltd, the Bermudian-based global financial services provider, has closed the fire-sale acquisition of the business outsourcing division of Jersey-headquartered MJ Hudson Plc, following recei…

The shareholders of Bunge Limited, the American agribusiness and food company have voted in support of its re-domestication from Bermuda to Switzerland.
The vote, during an extraordinary general meeti…

The corporate income tax rate will be set at 15 per cent, according to the second public consultation on the introduction of the tax for large companies.
“Taking into account all feedback received dur…

David Burt, the Premier, met with Mathias Cormann, secretary-general of the Organisation for Economic Co-operation and Development, yesterday in Paris.
Their meeting took place at OECD headquarters, C…

AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to Bermudian-based Hagerty Reinsurance Limited.
The outlook assigned to thes…

The catastrophe bond market could post a record year, a Bermuda lawyer has speculated.
The website of the international law firm, Appleby, has published an article quoting the Bermuda managing partner…

Bermudian-domiciled Monument Re Limited has appointed Carlo Elsinghorst as group CEO.
He succeeds Manfred Maske, who stepped down from the post.
Mr Elsinghorst joined Monument in 2020 as CEO Ireland a…

American Overseas Group Limited, the insurance holding company incorporated in Bermuda, has reported consolidated net income available to common shareholders of $900,000 for the three months ended Jun…

Women in Reinsurance, the professional organisation for women in Bermuda’s reinsurance sector, will host property and casualty education forum Navigating the New Risk Landscape on Monday.
It is one o…

The RG/BSX Index closed on Thursday unchanged at 2,050.90 after a day of no trading on the Bermuda Stock Exchange.
Overseas, Butterfield Bank closed up 21 cents (0.80 per cent) at $26.51 on the New Yo…

David Burt, the Premier and Minister of Finance, appears increasingly optimistic that a controversial landmark reform to the international tax system, will bring financial benefits to the island.
He h…

Sleep and wellness store Sleeper’s Paradise celebrated its first anniversary in Hamilton this week, and owners Chris and Laura Mayne said that opening a city location has proven to be opportune.
“Some…

Recent celebrity divorces, such as those involving pop star Britney Spears and actor Kevin Costner, have highlighted the use of prenuptial agreements in divorce proceedings.
Many people hear about nup…

A Google representative will be speaking at the Bermuda Tech Summit next Tuesday, on the topic of the tech giant’s new subsea cable landing in Bermuda.
David Robles, Google’s global subsea constructi…

Bermudian-based Ascot Group has appointed Christian Toft-Nielsen as senior vice president, predictive modelling and AI strategy.
In this newly created role, Ascot said, he will be responsible for deve…

Bermudian-based Sompo International, the global provider of commercial and consumer property and casualty re/insurance, has appointed Marilyn Faugas as country manager, Insurance, France.
She will rep…

A subsidiary of Canopius Group, the global specialty (re)insurer with an operation in Bermuda, has entered into a strategic partnership with Boost Insurance, the insurance infrastructure platform.
Can…

A unique body board, designed and patented by Sandys resident Murray Scott, was a hit at the Surf Expo in Orlando, Florida last month, where he sold 2,500 to attendees from California, Florida, Hawaii…

Members of the Bermuda insurance industry will figure in a World Bank unit’s multibillion dollar credit insurance policy that will bolster emerging markets while addressing poverty and climate change….

The RG/BSX Index closed on Tuesday unchanged at 2,050.90.
Some 2,900 shares in BF&M Ltd changed hands on the Bermuda Stock Exchange. The stock closed unchanged at $20.50.
Three hundred shares in B…

Convex Group Limited, the Bermudian-based international specialty re/insurer, has made a “cornerstone investment” in Skyrisks Limited, the London-based managing general agent said.
The news came as Sk…

The shareholders of Aegon NV, the Dutch international financial services holding company, have approved its cross-border conversion into a Bermuda limited company at an extraordinary general meeting.
…

Four entrepreneurs have each been awarded a $25,000 grant after their success at the Wave of Opportunity Pitch Competition presented by the Bermuda Economic Development Corporation and the Global Atla…

Adverse reserve development, primarily from older transactions in Lloyd’s, was the driver as R&Q Insurance Holdings Ltd, the Bermudian-headquartered global non-life specialty insurer, reported a p…

Butterfield Bank will be carrying out work on technology systems this weekend curtailing service in some areas.
Butterfield has advised customers by email that the work will take place from 6pm on Fri…

When sisters Amanda Temple and Sacha Blackburne set up the Indigo Song popup dress shop two months ago the intention was to stay only a month or two.
However, things have been going well enough that t…

The British Airways service to London is a blockbuster of a money-spinner for the airline.
According to data from OAG, an airline flight information-service provider, the Bermuda-London route generat…

Shares of Belco’s parent company dropped as much as 5 per cent on Monday and are trading near a decade low just months after the company said it would be unloading renewable assets in an effort to fix…

The RG/BSX Index closed on Monday at 2,050.90, up 3.58 points (0.17 per cent).
Ten thousand shares in Argus Group Holdings Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $6.20, u…

Bank of NT Butterfield reported in an X message and on its website that some customers were having problems with the settlement of transactions made using debit cards.
“We are pleased to report the i…

Athene Holding Ltd. and Athene Life Re Ltd. have awarded five Bermuda College students the 2023 Athene Scholarship.
The scholarship covers books and tuition fees, and is available to Bermudians atten…

Bermudian-based Aspen Insurance Holdings Limited has appointed Bobby Bianconi as global head of cyber.
The company said Mr Bianconi has been with Aspen since 2016 and has more than 10 years of dedicat…

A Bermuda reinsurer has been credited with restricting losses and producing solid operating profits for its sidecar, by demonstrating superior underwriting expertise.
Rating agency AM Best was referri…

The Bermuda Monetary Authority’s Second Annual Community Day featured staff support of Keep Bermuda Beautiful in a clean up of Shelly Bay Beach, Somerset Long Bay, Ferry Reach, St George’s, John Smith…

The Bermuda Monetary Authority has launched a week-long online public education campaign aimed at helping investors protect themselves by making informed choices.
The campaign focuses on financial li…

Lawyers for the Vesttoo case in the United States Bankruptcy Court in the District of Delaware are back for the next hearing today.
The Zoom hearing requires them to register at least two hours in adv…

An agency hired by the Government to provide credit ratings has admitted Securities and Exchange Commission violations and has been fined millions of dollars in penalties.
The offences are related to …

Insurance provides a safety net to the world but there are some risks that the industry cannot finance on its own.
Albert Benchimol, former president and chief executive at Axis Capital, made this poi…

Global insurers are adapting to this year’s challenging macro environment by adopting a strategic asset allocation that favours flexibility, a new report has revealed.
BlackRock’s 12th annual Global I…

The critical role that Bermuda’s reinsurance industry plays in the lives of ordinary Floridians has been highlighted by a visiting regulator.
Mike Yaworsky, Commissioner of the Florida Office of Insur…

Christopher Harris has been appointed chief executive officer of Monarch Point Re, the newly-created collateralised reinsurer launched Friday by Bermudian-based Axis Capital Holdings Limited and Stone…

This is part two of a four-part retrospective series by Martha Harris Myron, author of the Moneywise column for 25 years

We Bermudians tend to suffer from the extremes of a bipolar social syndrom…

Dear Dave,
About a year ago, my husband and I offered an empty house we own to a young man at our church, who had lost his home and everything he owned in a fire. He has taken good care of the place, …

The RG/BSX Index closed on Friday at 2,047.32, down 1.19 points (0.06 per cent).
Some 17,000 shares in Argus Group Holdings changed hands. The stock closed at $6.05, down a nickel (0.8 per cent).
For …

The Government took a victory lap Friday celebrating its success in attracting an undersea cable being built by Google.
In a statement, Walter Roban, Deputy Premier and Minister of Home Affairs, laid …

Non-US retail traders are now able to check their eligibility for perpetual futures on Coinbase Advanced, after Coinbase International Exchange received regulatory approval from the Bermuda Monetary A…

An American provider of software as a service-based investment management, accounting, reporting and analytics solutions to the Bermudian and US insurance markets has added another client with an isla…

The already messy bankruptcy of Vesttoo has been further complicated by the cyberattack in Bermuda, which could result in a delay in the liquidation of the company.
A hearing on the winding-up of Vest…

Patricia J Walsh is the new executive vice-president and general counsel at American International Group, effective December 1.
She will report to Peter Zaffino, AIG chairman and chief executive offic…

BMS Group, the independent specialist (re)insurance broker with an operation in Bermuda, has appointed former PartnerRe boss Emmanuel Clarke as chairman.
The news comes as BMS announced the formal com…