Business

The Bermuda Stock Exchange was among 63 exchanges worldwide that participated in a ceremonial “Ring the Bell for Financial Literacy” event today as part of the World Federation of Exchanges’ support f…

Sometimes when the cruise ships are in, we don’t even know they are here, Dockyard business owners say.
Heidi Cowen, administrator of the Dockyard Arts Centre, believes Bermuda needs to re-evaluate it…

A Convergence 2024 audience has heard of plans by the State of Louisiana to affect a “reinsurance and an insurance renaissance in Louisiana”.
Tim Temple, the state insurance commissioner elected a yea…

AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb” (Good) of Bermudian-based Golden Tree Reinsurance Ltd.
The outlook of these credit rati…

Bermudian-based Axis Capital Holdings Ltd has appointed Sam Flitman as London head of Ceded Re, effective the first quarter of 2025.
Mr Flitman will report to Anne Kelly, Global head of Ceded Re at Ax…

The insured losses from Hurricane Milton could be $30 billion to $50 billion, Fitch Ratings has estimated, which would be the largest storm loss claims since Category 4 Hurricane Ian’s 2022 losses of …

Krystal Rodrigues and Lisamarie Masters have joined the partnership at Botelho Wood Architects.
Ms Rodrigues began at Botelho Wood as a student in 2004 when the firm was first established and returned…

Rakaya Simmons-Landy has been appointed the newest qualified litigation associate of Trott & Duncan Limited.
A statement from the firm said: “Ms Simmons-Landy, who demonstrated remarkable talent a…

The MarketPlace is rolling out electronic price tags for products on the shelf, beginning with the Harrington Hundreds store.
The grocery retailer said the tags represent “a significant step forward i…

Hurricane Milton will change the strategic future of the property catastrophe market, according to one ILS expert.
Chris McKeown, chief executive of reinsurance ILS and innovation at Vantage Risk, sa…

The monster Hurricane Milton may become the storm of a century, but at the least a new Best’s Commentary says it poses a significant threat to an already stressed Florida property insurance market.
He…

Since 2021, the Bermuda Monetary Authority has seen more than 60 new cat bonds registered through a new three-day registration process.
“It has been well received,” said Taijaun Talbot, assistant dire…

Bacardi Rum and Miami Heat basketball star Jimmy Butler have announced a second collaboration with the player’s premium coffee brand, Bigface.
Following the success of their first-ever spirits partner…

Argo Group chief executive Jessica Buss has been appointed to the board of directors of Earnix, the software-as-a-service solution company.
Earnix said Ms Buss is a highly respected leader in the prop…

Arch Insurance International has promoted Peter Brooks to the position of global head of Fine Art & Specie.
Mr Brooks will be responsible for managing Arch’s London Market Fine Art & Specie in…

Physics-based models are emerging as an alternative way of assessing natural hazard risk rather than by historical records, a keynote speaker told the audience yesterday at Convergence 2024, the annua…

Severe convective storms present the most opportunities for the insurance linked securities market today in terms of the best risk-adjusted returns, a catastrophe modelling pioneer told an audience at…

Gold Reserve Ltd, which recently completed its continuance into Bermuda from Alberta, Canada, has appointed Paul Rivett as chief executive officer.
The company said Mr Rivett will continue to serve as…

Florida braced for a second monster hurricane, even as it continued clearing debris from Hurricane Helene.
But a more than a million people were ordered to evacuate as hurricane hunters remained uncer…

Three Bermudian pupils have joined the legal trainee programme in the Bermuda office of Appleby.
Skye Burrows, Mya Gibbons and Akira McDonald will participate in the two-year programme, which provides…

Arch Insurance North America has appointed Tyler Bair as president of Ventus Risk Management, its wholly-owned managing general underwriter.
Mr Bair is responsible for driving growth, managing day-to-…

The Bermuda Monetary Authority will seek to improve administration of the 2018 Digital Asset Business Act by proposing changes to strengthen the legislative and regulatory framework.
The BMA has rolle…

Successful women working in the fields of business, sport and entertainment have talked about the struggles they faced achieving their career ambitions — and what it takes to overcome everyday hurdles…

Ignite’s free, award-winning Entrepreneurial Accelerator Programme is open for applications for its ninth cohort with a deadline of October 20 and an open house tomorrow.
Since launching in May 2019, …

More than three-quarters of organisations expect their cyber budget to increase over the coming years — citing unpreparedness over increasing vulnerabilities.
That is according to PwC’s 2025 Global Di…

US private market insured losses for Hurricane Helene are rising, with Moody’s RMS Event Response now estimating insured losses for Hurricane Helene to be between $8 billion and $14 billion.
The fresh…

The Bermuda Monetary Authority’s employee-led Annual Community Day on Thursday involved volunteering in support of charitable causes.
This year, the BMA collaborated with five charities chosen by staf…

For decades Jon Beard and Nicole Chichon gave college counselling to students at Saltus Grammar School. Now retired, the two have formed their own business, University & College Advisory Network. …

The new corporate income tax is not expected to affect Bermuda’s standing as a major reinsurance hub, according to an article in S&P Global.
The 15 per cent tax will apply to multinational enterpr…

New legislation in force as of January will bring an “unchartered territory” for most Bermuda organisations, according to a global offshore law firm.
Businesses will be required to make disclosures to…

Shareholders have given the go-ahead for a company to redomicile to Bermuda from Alberta, Canada.

Gold Reserve Inc, an exploration stage mining company, said the process was completed on September…

Bermudian-based Relm Insurance is offering the insurance industry’s first bitcoin denominated insurance product.
The pioneering product offers business interruption coverage specifically tailored for …

Picture the scene: finally, after 20-plus years, the kids are well and truly off your hands and no longer asking for money. Hopefully you are about to retire – or else you are on the home stretch and…

Dear Dave,
My wife and I are debt-free, and we live on a budget. My mother-in-law, on the other hand, uses credit cards for practically every purchase. Several times she has gone too far and run up ba…

The Bermuda Stock Exchange has chosen Vermiculus Financial Technology to deliver microservice-based clearing, settlement and depository system to the Exchange.
The new BSX CSD systems are based on Ver…

Appleby has retained its Planet Mark Business Certification for a further year, reducing carbon emissions by 37.2 per cent, the law firm has said.
In a statement it was said to underline the group’s c…

Kraken, the cryptocurrency exchange, has been licensed by the Bermuda Monetary Authority to offer crypto derivatives trading from the island.
The exchange, which describes itself as one of the longest…

After losing her mother last November, Jessica Burns went on a surfing wellness retreat in Costa Rica to help herself work through her grief.
“It was really special,” she said. “It was the first tim…

Record-breaking hurricanes, dangerous wildfires and extreme heat events have dominated recent news cycles.
Bermuda Institute of Ocean Sciences chair Stephen Weinstein believes it all serves as a remi…

The latest Digicel Transformation Report notes a significant surge in the perceived importance of digital technologies within the public sector in Bermuda and the Caribbean.
Adoption rates of digital …

The RG/BSX Index remained unchanged at 2,470.76 today with no trading on the Bermuda Stock Exchange.
Butterfield Bank closed down two cents (0.06 per cent) at $35.81 on the New York Stock Exchange.

A Fidelis Partnership wholly-owned subsidiary and specialist MGA platform has launched a new specialty reinsurance MGA.
Pine Walk Capital Limited said Silverflame Re will complement The Fidelis Partne…

Coralisle Group Ltd struck gold twice at the 2024 Advertising Research Foundation David Ogilvy Awards, held last week in New York City.
CG’S two gold-level trophies were in the categories of Financial…

The Bermuda Monetary Authority on Monday launches a weeklong campaign that is part of a global initiative to empower investors and provide them with access to valuable resources and learning opportuni…

The Bermuda Tourism Authority commented on the Condé Nast Traveler annual Readers’ Choice Awards, with Bermuda taking the No 1 spot as Best Island in the Caribbean and Atlantic for the second consecut…

Oceanview Reinsurance Ltd, a subsidiary of Oceanview Holdings Ltd, has made Michael C. Ward vice-president and chief financial officer.
This appointment follows Oceanview’s recent expansion of its glo…

The Phoenix Stores and singer-turned-beauty and fashion mogul Rihanna are bringing to Bermuda her game-changing beauty brands, Fenty Beauty, Fenty Skin and Fenty Eau De Parfum, as she launches across …

Mosaic Insurance has appointed underwriter Francesca Harland as its new global head of professional liability.
The move was part of an underwriting and operational team restructuring designed to drive…

Insured loss caused by record-breaking wind, storm surge and flooding from Hurricane Helene will be close to $6.4 billion, according to catastrophe modelling firm Karen Clark & Co.
On September 26…

The RG/BSX Index closed up 13.42 points (0.55 per cent) on Wednesday, to end the day at 2470.76 on the Bermuda Stock Exchange.
Only Butterfield Bank saw activity with 3,724 shares trading hands to fin…