Business

Wafra Inc, the New York-based global alternative asset manager with an office in Bermuda, has completed the acquisition of the Aquila Air Capital platform from Warburg Pincus, the global private equit…

The Ardonagh Group, the global insurance broker with operations in Bermuda, has announced an equity investment from funds managed by US-based private equity firm Stone Point Capital LLC that values it…

Seadrill Ltd, the Bermudian-based offshore drilling company, has added nearly $1 billion to its order backlog after agreeing two contracts with Petrobas, the state-owned Brazilian multinational.
The c…

The Bermuda Monetary Authority confirmed the registration of seven new insurers in November, taking the yearly total to 50.
The island’s financial services regulator has also registered ten intermedia…

Bermudian-based Maiden Holdings Ltd has agreed to sell its Swedish subsidiaries, Maiden General and Maiden Life.
Maiden said the buyers were “an expanding group of international insurance and reinsura…

AM Best has affirmed the credit ratings of Bermudian-based Transmonde Services Insurance Company Ltd, the Class 3 insurer licensed and regulated by the Bermuda Monetary Authority.
The agency affirmed …

Arch Insurance has appointed a senior casualty underwriter to bolster its operation in France.
Rachida Laazaouzi joins Arch Insurance (EU) dac, which provides specialist property and casualty insuranc…

Everest Re has appointed Craig Hanrahan to lead its North America insurance field operations.
Mr Hanrahan will oversee the firm’s four American retail regions, and will report to Bill Hazelton, execut…

A supermarket boss has questioned whether a government-backed grocery co-op would realistically be able to reduce prices on the shelves.
Last week, the public works minister Lieutenant-Colonel David B…

A local alternative energy company is urging Bermudians to invest in solar panels now before American tariffs force the price up.
Last month, the US announced a range of duty of between 21.31 per cen…

Bermuda ranks as the third-quickest jurisdiction in the world for entity management, a new report reveals.
Only Gibraltar and Luxembourg rank ahead of the island.
The ranking is included in an annual …

Ratings agency AM Best has revised the outlook to positive from stable and affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermud…

Two Bermudian-headquartered companies have entered into a $2.3 billion loss portfolio transfer reinsurance agreement, which one party said was the largest such agreement announced in the insurance and…

The Supreme Court of Bermuda has granted an order winding up Afiniti Ltd, the island-domiciled artificial intelligence firm.
A petition for the winding up of the company was presented to the court by …

Police have identified Khiry Furbert, a father and former Cup Match cricketer, as the victim of a fatal shooting that took place in the early-morning hours of Sunday.
Mr Furbert, 34, who leaves behind…

A cohesive strategy to attract investment is needed to complement systems designed to draw in climate funding, according to a KPMG official who attended COP29.
Charlotte Reboul, a manager for governme…

A British-based cybersecurity firm, helping small to medium-sized business protect their data, is set to expand its operations into Bermuda.

Cyber Tec Security, which also operates from Jersey, is…

Antares Global Management Ltd has made three senior appointments to create the leadership structure for its new Commercial division, which comprises Bermudian-based Antares Re and Syndicate 1274.
The …

Seven directors were elected at the annual meeting of Gold Reserve Ltd, which recently completed its continuance into Bermuda from Alberta, Canada.
Robert A. Cohen, Paul Rivett, James Michael Johnston…

A Bermudian marketing strategist, business coach, and designer has been recognised for her work in North Carolina.
Kennette J. Burgess, the owner and chief executive of Focus Marketing & Developme…

Retail sales volume in Bermuda fell by 5.4 per cent year-over-year in August, according to figures released today by the Ministry of Economy and Labour.
That figure was determined after adjusting for …

Inflation was measured at 2.3 per cent in the latest government figures released today which showed large rises in some key areas.
The Ministry of Economy and Labour released the Department of Statist…

A staff gift drive at the Bermuda Monetary Authority has collected more than 150 toys and $10,500 in gift card vouchers for children and families in need.
Gift cards included vouchers for Belco, Lind…

A new skin care clinic has opened in Hamilton employing the latest laser technology for the treatment of medical conditions and aesthetic concerns.
Bermuda Laser Clinic opened on November 1 on the sec…

Bermuda is to develop its first national entrepreneurship strategy.
The Bermuda Economic Development Corporation has invited qualified consultants or consultancy firms to submit proposals regarding th…

As the government prepares a new tax authority to collect what could be some $750 million annually from the new corporate income tax starting next year, a new survey highlights how one group of intern…

AM Best has affirmed the credit ratings of island-domiciled Brit Reinsurance (Bermuda) Ltd.
The agency affirmed the company’s financial strength rating of A (Excellent) and the long-term issuer credit…

Ratings agency AM Best has assigned as excellent the ratings it has awarded to Bermudian-registered companies.
It gave a financial strength rating of A (Excellent) and a long-term issuer credit ratin…

The Ministry of Health needs an environmental toxicologist to better ensure the safety of locally manufactured products. Kim Wilson, the Minister of Health, revealed this in response to concerns that …

Shareholders of Argus Group are to vote on the company’s proposed amalgamation with BF&M Ltd, and shareholders of the latter company are to vote on issues arising from the merger agreement, at spe…

David Furtado, of Auto Solutions, has been named the top Suzuki service adviser in the Caribbean for the third quarter of the year.
The award covers 26 Caribbean territories for the period, and commen…

Bermuda is the top jurisdiction for technology leadership in Latin America and the Caribbean according to the Smart Centres Index.
Developed by London-based think-tank Z/Yen, SCI evaluates the capabil…

Six appointments have been made to the board of directors of the Association of Bermuda International Companies, it announced today.
Christian Dunleavy, chairman of Abic, said: “On behalf of Abic’s bo…

A new Bermudian-based reinsurance company, born from a collaboration between MetLife Inc and General Atlantic, is set to launch in the first half of 2025.
The two businesses announced the formation o…

Bermudian-based Paradise Mobile has appointed two telecom industry heavyweights as strategic advisers.

John Legere was CEO of T-Mobile US from 2012 to 2020, and Lawrence Guffey is the managing par…

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Denver-headquartered Oceanview Life and Annuity Company and its Bermudi…

Relm Insurance, the specialty insurance carrier supporting emerging and innovative industries, has launched its own managing general agent in the US, licensed in all 50 states, including locations in …

The RG/BSX Index closed unchanged today at 2,571.67.
Only Watlington Waterworks saw activity with 235 shares changing hands, the price remaining at $31 by the end of the day.
The turnover was $7,145.
…

A Bermuda captive of one of Japan’s largest general trading companies has had its excellent financial strength rating affirmed by credit ratings agency AM Best.
The rating agency affirmed the Financia…

Fortitude Reinsurance Company Ltd has announced that Moody’s Ratings has assigned A3 Insurance Financial Strength Ratings to Fortitude Re’s three main operating companies: Fortitude Reinsurance Co Lt…

The Bermuda Economic Development Corporation has launched its “Eat, Shop, Play” draw, encouraging shopping in Bermuda’s Economic Empowerment Zones.
The BEDC said the initiative invites the public to e…

Japan’s largest life insurer will make its Bermudian equity affiliate, Resolution Life Group Holdings Ltd, its wholly owned subsidiary – acquiring the remaining shares from the firm’s investment limit…

New registrations for motor cars and trucks coming on to the road have shot up 7 per cent this year, with 124 more units during the first ten months, than during the same period in 2023.
But auto gara…

Christmas traffic is not as heavy as it usually is at the Bermuda Bookstore, but those customers who do come in are serious about their buying.
“They have done their research online,” co-owner Hannah…

The RG/BSX Index closed at 2,517.67 on Tuesday, up 81.85 points (3.29 per cent), with four stocks seeing activity.
The total turnover was $651,372.95.
Bermuda Aviation Services saw 43,100 shares move …

The Bermuda holding company, The RoyaLand Company Ltd, will use artificial intelligence-powered non-player characters, as a significant advancement of their development of a new, web-based game.
The c…

Oak Reinsurance has appointed James Irvine as chief underwriting officer, Property.
Based in London, Mr Irvine will join in spring 2025, and report directly to Cathal Carr, chief executive and active …

The joint liquidators of Bittrex Global (Bermuda) Ltd (in liquidation) have announced their intention to declare a first and final dividend to unsecured creditors of the company and to distribute the …

Bermudian-based Meanwhile, the world’s first Bitcoin life insurance company, has formed a strategic partnership with Swiss-headquartered Block Green, the Bitcoin investment platform.
Meanwhile will su…

The board of directors of Butterfield Bank has approved a $100 million ordinary share repurchase programme that authorises the bank to purchase up to 2.7 million of its ordinary shares through the end…