Business

Liberty Mutual Insurance has appointed Marc Orloff as president of Global Risk Solutions North America, effective January 1.
Reporting to GRS president Neeti Bhalla Johnson, Mr Orloff will be accounta…

Avance Gas Holding Ltd is “as liquid as the seven seas” after selling the remainder of its fleet, its chief executive said as he revealed the company’s intention to wind up operations.
The Bermudian-b…

Axa XL has provided $30 million in credit insurance in support of a pioneering sustainable issuance for nature and climate in the Bahamas.
The Government of Bahamas, the Nature Conservancy, the Inter-…

Ascot Group has appointed Mark Benz as executive vice-president, head of Ascot US Alternative Risk Solutions.
In this newly-created role, the company said, Mr Benz will build and lead a portfolio focu…

Kebobs on the Curve, the island’s Middle Eastern restaurant, has reopened with new chefs and an expanded menu.
Owners Chris and Elaine Lima, and a silent partner, opened the takeaway restaurant in May…

Bermudian-based Golden Ocean Group Ltd, the world’s largest listed owner of large-size dry bulk vessels, has reported net income of $56.3 million for the third quarter of 2024.
That compares with net …

Asia Pacific Wire & Cable Corporation Ltd, the holding company incorporated in Bermuda, has reported net income of $900,000 for the first nine months of the year, a drop of $200,000 compared with …

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based Hagerty Reinsurance Ltd.
The outlook of these credit …

Rakesh Thakrar has been appointed interim group chief financial officer of European savings and retirement services group, Bermudian-based Athora Holding Ltd.
Mr Thakrar will also join the Athora Gro…

The original 1988 US-Bermuda Tax Treaty has found a new home in the Bermuda Archives.
Discovered earlier this year by Solicitor-General, Shakira Dill-Francois, the Treaty had remained hidden in a col…

Shops in Hamilton will stay open late this month in a Chamber of Commerce initiative aimed at supporting local retailers.
The Chamber’s retail division is launching the Hamilton Mingle & Jingle ev…

Marco Capital Holdings Ltd, the European P&C insurance run-off group, has completed its acquisition of Inceptum Insurance Company Ltd, the British non-life insurance company in run-off, from Bermu…

AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to Bermudian-based Fed Re Ltd, the Class E insurer registered with the Bermu…

New Bermudian-based reinsurer Mereo is close to finalising a $650 million fundraise with six investors, according to industry reports.
Mereo has secured Bermuda Monetary Authority approval as it looks…

A third pillar for the Bermuda economy could be the result of plans to land Google’s new subsea cable here, as it paves the way for the island to become a transatlantic digital hub.
This vision for Be…

The Association of Bermuda Insurers and Reinsurers will sponsor a free foundational course for the fifth consecutive year, providing Bermudian students and the public with free access to education abo…

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…

My husband and I have begun to do our research to determine where we would like to retire. Bermuda is definitely high on the list, but there are several factors that are not ideal for retirees, one be…

Bermuda’s international business sector accounted for almost a third of the island’s gross domestic product last year, the economy minister said yesterday.
Outlining the 2023 GDP report, Jason Hayward…

A member of Italy’s House of Savoy is the founder and chief executive of a Bermudian-based holding company that is behind a new fantasy-based, royalty-themed video game that is expected to hit the mar…

A new $30,000 scholarship aimed at developing Bermudian talent specifically for the captive insurance industry has been launched.
KPMG in Bermuda and the Bermuda Captive Network have combined to offer…

Bermuda’s international business sector accounted for almost a third of the island’s gross domestic product last year, the economy minister said today.
Outlining the 2023 GDP report, Jason Hayward sai…

Industry veteran Chris Shanahan is to succeed Marc Archambault, who is retiring, as chief executive, Life and Health, at PartnerRe.
Mr Shanahan’s appointment is effective January 1.
Philippe Meyenhofe…

The Bermuda Monetary Authority has launched a consultation paper seeking feedback on the regulation of digital identity service providers.
An identity provider is an organisation — government or priva…

Bermudian law firm, Marshall Diel & Myers, has expanded its family team with the appointment of barrister Patrick Goodings.
Mr Goodings, who has 13 years’ experience at the Bar, most recently at T…

Real estate agency Keller Williams Bermuda has saved a stately old Bermuda home from the wrecking ball.
The firm began turning Charleswood, the Bermuda Red Cross headquarters at 11 Berry Hill Road i…

Artificial intelligence is revolutionising the way that humans solve problems and create.
Tools such as ChatGPT are used to generate just about anything and as powerful as these AI tools are, AI comes…

Bermudian-based Everest Group Ltd has expanded its European operations with the launch of an insurance business in Italy.
The news comes following the receipt of regulatory approval to operate in the …

Two members of staff at mental wellness centre, Solstice, have completed training in working with children, young people and adults who have experienced hard times.
Managing director and social worke…

Bermuda’s entrepreneurial community has celebrated the achievements of micro, small, and medium-sized businesses, along with innovators within the island’s economic empowerment zones, at the eighth an…

The remaining bottles of Gosling’s Papa Seal Single Barrel Rum from this year’s allocation will be available in the company’s stores beginning on Saturday morning.
A company spokesman said the limited…

Seven months after opening in Bermuda, telecommunications company Paradise Mobile is already expanding overseas.
Company founder and chief executive officer Sam Tabbara told The Royal Gazette it plan…

Climate change is leading to evolving natural catastrophe risks that are forcing insurers to re-evaluate their relationships with each other and the world at large, according to S&P Global Market …

After a four-year closure, a subtle rebranding and “extensive” renovations, one of Bermuda’s oldest restaurants returns for fine diners, just in time for the festive season.
But if you are looking to …

The Association of Bermuda Insurers and Reinsurers and EY are to return as headline sponsors of the Bermuda Risk Summit for a fourth consecutive year.
The annual event, presented by the Bermuda Busine…

A joint initiative between local business associations aims to engage career shifters and highlight the value of international business in Bermuda.
The International Business is Everybody’s Business c…

Domestic insurer BF&M Ltd has reported net income of $24.2 million for the nine months ended September 30, a jump of $10 million from the net income for the comparative period in 2023.
Abigail Cli…

Hamilton Re, the Bermudian-based insurance and reinsurance underwriting platform of Hamilton Insurance Group Ltd, has expanded into Credit, Bond and Political Risk Reinsurance.
That initiative will be…

Argus Group Holdings Limited had net income for the six months ended September 30 of $5.9 million, up from $5 million at the end of the same period last year.
This IFRS net income was impacted by exce…

The Liberty Mutual charity committee has partnered with the Coalition for the Protection of Children to support their breakfast programme for public schools.
The firm said: “In a true demonstration of…

BermudAir is offering Black Friday sale pricing, with massive discounts and holiday packages for travellers purchasing from November 26 through December 3, for travel periods ending June 30.
BermudAir…

Bermuda must be ready for heightened competition from rival jurisdictions as the island’s first tax on corporate profits takes effect, said Christian Dunleavy, chairman of the Association of Bermuda I…

A former Florida insurance Commissioner has explained in an online publication how Bermuda’s long-term insurance industry is helping to close the world’s pension protection gap.
David Altmaier states …

Deloitte’s annual celebration of commitment to community investment in Bermuda, Impact Day, was held this month.
The staff set aside their work for a day to contribute towards the community-based init…

Bermudian Pamela Trott Harris is returning home after more than 25 years working as a clinical psychologist in Europe.
Ms Harris, who has a master’s degree in psychology, is joining Benedict Associate…

Small businesses in Bermuda are set to get an extra pair of helping hands after a new partnership was agreed to address critical business challenges.
The Bermuda Economic Development Corporation has j…

A business pitch competition highlighting the “incredible talent of emerging entrepreneurs” has announced its winners.
Global Atlantic Financial Group partnered with the Bermuda Economic Development C…

Vegan food truck entrepreneur Jamel Minors has found a new home for his business at the east end of Victoria Street in Hamilton.
Mr Minors owns and operates Alkaline Triangle, which since 2022 has ope…

Cargo volumes are up year-on-year but still lag behind pre-pandemic levels, the parent company of Stevedoring Services Ltd, the docks operator, has reported.
The news came as Polaris Holding Company L…

When I was growing up, I can’t count the number of times I was asked which university I was going to attend; then, in my adult years the question became which university I had attended. Strangely, th…