Business

Military-level expertise will usher in a new era of cybersecurity services for local and international companies in Bermuda through a partnership that includes a Bermudian start-up and a Portuguese in…

The Bermuda Monetary Authority is considering embedded supervision as a way to better regulate the digital asset space.
According to BMA chief digital officer Moad Fahmi, local regulators are consider…

Occam Underwriting, which has been majority owned since 2021 by Hudson Structured Capital Management, carrying out its re/insurance business as HSCM Bermuda, is to come under new control.
Brown & …

The RG/BSX Index closed on Thursday at 2,118.01, up 20.56 points (0.98 per cent).
Ten thousand shares in Argus Group Holdings Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $6, d…

The Association of Bermuda Insurers and Reinsurers will celebrate three decades of leadership and partnership at a lunch on Tuesday.
John Huff, Abir president and chief executive officer said: “The Ab…

Apex Group, the Bermudian-based global financial services provider, has appointed Stephen Geddes as regional head, Britain, responsible for overseeing the delivery of the organisation’s single-source …

Bermuda will continue to play a significant role in the growth and evolution of the legacy market due to the depth of talent and its regulator, PWC insurance partner Matt Britten predicted.
“The Berm…

Lloyd’s, the London-headquartered re/insurance marketplace, has reported a profit before tax of £3.9 billion for the first half of 2023.
That compares with a £1.8 billion loss in the first half of 202…

Brookfield Infrastructure’s $13.3 billion take-private acquisition of Bermudian-based Triton International, the world’s largest lessor of intermodal freight containers, is a step closer to completion….

Jeb Bush wasted no time expressing his gratitude to Bermuda and its reinsurance market during the 62nd General Assembly & Annual Meeting of the World Federation of Exchanges at the Hamilton Prince…

Forensic accountants get it. They know they can be unpopular.
They know that hiring them ahead of time costs money and will eat away at profit margins. And they know that after the fact, after a frau…

The RG/BSX Index closed on Wednesday at 2,097.45, down 1.19 points (0.06 per cent).
Some 1,500 shares in Argus Group Holdings Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $6.15…

Bermudian-based Axis Capital Holdings Limited has appointed Kelly Beaudoin as head of its partnership office, a cross-functional team that guides the organisation’s change management programmes.
In th…

The number of jobs in Bermuda increased in 2022 year-over-year, but is not back to pre-pandemic levels, Department of Statistics figures have revealed.
The Job Market Employment Briefs report said the…

The Bermuda Monetary Authority confirmed the registration of two insurers in August, taking the yearly total to 39.
The BMA confirmed Gearbulk Captive Ltd in Class 2 and Prismic Life Reinsurance Ltd i…

Larissa Dziubenko and Ligaya Sanchez-Wilson have joined Appleby Bermuda’s corporate and dispute resolution departments, two of the largest practices on the island.
Ms Dziubenko, an associate in the co…

Tony Hay will retire as president and chief underwriting officer of Arch Insurance (Bermuda) at the end of the year, after over two decades with the organisation and over five years at the helm.
Mr Ha…

This summer Jessica Lightbourne left her job at the Bermuda Hospitals Board to focus on her own business.
The change was brought about by a near-death experience.
She was walking with a friend when s…

Bermudian-based Somers Group Holdings Ltd has appointed industry veteran John Patin IV as chief investment officer.
The company said Mr Patin is responsible for overseeing Somers’ overall investment s…

Inver Re, the Bermudian-based global reinsurance broking arm of the Ardonagh Group, has launched an integrated global index practice, following the appointment of Tom Johansmeyer earlier this year.
Mr…

The RG/BSX Index finished down 49.58 points (2.31 per cent) on Tuesday to close at 2,098.64.
Two stocks were traded on the Bermuda Stock Exchange, with 700 Bank of NT Butterfield shares changing hands…

Bermudian-based Legal & General Reinsurance has taken on an intern, and supported an education award for a deserving student.
Jahlika Berkeley, a recent graduate with a BSc in accounting and finan…

Embattled Bermuda-linked insurtech, Vesttoo, has won a court ruling in their bid to claw back $200 million from company founders and others alleged to be involved in a massive fraud that has crippled …

Harbourfront restaurant has reopened its newly renovated and refurbished lounge. Originally the Sushi Lounge, the new Coral Lounge now offers a full à la carte menu.
The space has been redone in pink …

Independent airline, BermudAir, has partnered with Discover the World, the global sales and marketing organisation, to grow awareness and sales with the USA travel trade.
Discover the World said it wi…

Hudson Structured Capital Management Ltd, doing its reinsurance business as HSCM Bermuda, has added to its support of Kin, the Chicago-based insurtech start-up.
Kin has closed a $33 million Series D e…

Bermuda is failing, and a large minority absolutely accepts that. The downward trajectory we are on is a story of defeatism, self-interest and complacency. We are propped up by a campaign of smoke and…

A jurisdictional battle between Bermuda and the United States may be brewing after a ruling from a Delaware court in what could be the biggest insurance bankruptcy in Bermuda.
On Monday, Judge Mary F…

The Bermuda Stock Exchange is looking at ways for traders to get their money faster.
Some are already pushing for immediate settlements.
Greg Wojciechowski, president and chief executive of the BSX, h…

AM Best has revised down its outlook for the US homeowner insurance segment from stable to negative in part as a result of “elevated reinsurance costs“.
The ratings agency also cited above-average cat…

The RG/BSX Index closed on Monday at 2,148.22, up 0.72 points (0.03 per cent).
Some 59,900 shares in Argus Group Holdings Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $6.03, up…

SiriusPoint has formed a strategic partnership with Stockholm-based Nordic Marine Insurance.
The Bermudian-based global specialty re/insurer said the partnership with the company’s Stockholm-based und…

Teneo, the global CEO advisory firm, has appointed Mark Allitt as a senior managing director with the firm’s financial advisory business.
Mr Allitt was a partner at KPMG in Bermuda, head of its adviso…

New European leadership at Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has included a new team at the UK commercial P&C …

Everest Insurance, the insurance division of Bermudian-based Everest Group Ltd, has established a dedicated US wholesale and programmes division.
“This dedicated offering reflects Everest’s decades of…

Vesttoo Bermuda’s joint provisional liquidators have slammed the bankrupt insurtech, saying that the parent company is absurdly claiming victim status and inexplicably keeping some of its leadership i…

A new captive domicile is about to emerge on isolated islands in the northwestern Pacific Ocean.
A Bill has been introduced in the Commonwealth of the Northern Mariana Islands to establish captive ins…

The local insurance industry is generally supportive of the Bermuda Monetary Authority’s plans to enhance the regulatory and supervisory regime for commercial insurers and insurance groups.
This, from…

If you asked anyone, your friends, your family, the person on the street about what they feared or worried about the most, the most common answers would probably fall into just a few categories:
• Fea…

The RG/BSX Index fell 14.06 points (0.65 per cent) for the week to close at 2,147.51 on share volume of 35,423 valued at $185,446.50. Declines led advances two to zero.
LOM Financial Limited fell a ni…

Christopher Harris has resigned as a director of BF&M as of Friday, September 15, the board has announced.
Mr Harris joined the board in May 2018 after his stint as CEO of Montpelier Re for seven …

Cayman Islands Tourism officials have been ordered to hand over documents linked to a controversial sponsorship strategy, following a 20-month freedom of information battle with the Cayman Compass, th…

In support of Climate Week NYC, Axa XL is hosting a live webinar focused on water, a valuable resource greatly impacted by climate change, but often overlooked in organisations’ risk management plans….

The global specialty insurer and reinsurer, Bermudian-headquartered SiriusPoint has appointed Stephen Smyth as head of marine in London, and active underwriter for Syndicate 1945, subject to Lloyd’s a…

Captives are performing far better than “commercial line insurers”, according to an AM Best report, and the ratings company expects the trend to continue.
Over the past five years, captive insurers ha…

Mutual property and casualty insurance companies in the US recorded $31 billion in underwriting losses in 2022 despite a solid rise in premiums, according to a recent AM Best report.
Higher claims and…

Fitch Ratings has affirmed the long-term issuer default ratings of Resolution Life Group Holdings and RLGH Finance Bermuda at ‘BBB’.
In addition, Fitch has affirmed the insurer financial strength rat…

Anthony Dagostino has become Axa XL’s first global chief cyber underwriting officer, commercial lines.
In the new role, Mr Dagostino will report to Libby Benet, Axa XL’s chief underwriting officer in …

Powertranz, sister company to First Atlantic Commerce, has jointly launched with Miura Systems, a unique, semi-integrated payment solution in the Caribbean and Central America.
First Atlantic is a le…

On the verge of hosting the World Federation of Exchanges 62nd Annual Meeting, the Bermuda Stock Exchange has announced they will brave the tropical storm winds of Hurricane Lee and remain open for bu…