Business

Bermudian-based re/insurer SiriusPoint Ltd has reported its first positive quarter in nearly two years with net income available to the company’s common shareholders of $139 million in the first quart…

Positive investment results have propelled Bermudian-based insurer Enstar Group Ltd to net earnings of $424 million in the first quarter of the year, the company has reported.
That compares to a net l…

Market forces pressured the Hiscox Re & ILS division of the international specialist insurer, Hiscox Ltd., according to a trading statement for the first three months of the year to 31 March.
Favo…

After losing the majority of its aircraft registry revenue as a result of the war in Ukraine, the Bermuda Civil Aviation Authority continues endeavours this week to claw back as much of that income as…

The Federal Reserve continued to push the envelope on interest rates, as it seeks to put a lid on persistent inflation. And already there has been local reaction.
Wednesday the Fed raised the key fede…

The Bermuda Monetary Authority has dismissed the claim that it could face a conflict of interest over its investment policy.
The suggestion is that recent changes now allow the BMA to invest in compan…

Bermuda-based speciality insurer and reinsurer, SiriusPoint Ltd, has appointed Bronek Masojada to their board of directors.
The insurance industry veteran spent 28 years at Hiscox Group, a global spec…

The Federal Reserve continued to push the envelope on interest rates, as it seeks to put a lid on persistent inflation. And already there has been local reaction.
Wednesday the Fed raised the key fede…

AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of three members of FGH P…

James River Group Holdings Ltd, which is based in Bermuda, has reported first quarter net income available to common shareholders of $7 million.
That compares to net income available to common shareho…

Brookfield Infrastructure Partners LP has reported net income of $23 million for the three-month period ended March 31, compared to net income of $70 million in the prior year quarter.
BIP said curren…

The RG/BSX Index closed up 26.82 points on Wednesday at 2136.73 with 10,100 stocks changing hands at a value of $57,850.
Of those stocks, 10,000 Argus Group Holdings shares traded at $5.50, the price …

Bermudian-based RenaissanceRe Holdings Ltd has rebounded spectacularly year-over-year, reporting first quarter net income available to common shareholders of $564.1 million.
That compares with a net l…

The popular Marina Nights return on Friday at Hamilton Princess & Beach Club with a Cinco De Mayo opening party.
The event will run from 5pm until 10pm outdoors, featuring a reimagined drink menu,…

Inver Re, the Bermudian-based global reinsurance broking arm of The Ardonagh Group, has made two key hires according to reports.
The organisation has appointed Gareth Davies as chairman of parametrics…

Agam Capital, an analytics driven company that partners with insurance companies to provide strategic solutions, has created a reinsurance platform in Bermuda.
Agam has leveraged the Incorporated Segr…

For decades Bermuda stood out for its iconic booths at strategic locations in the exhibit hall at the annual Rims RiskWorld conference.
Occupying substantial, and prime, real estate on the exhibit flo…

Fortitude Reinsurance Company Ltd., has signed a $28 billion reinsurance agreement with The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation and its affiliates.
Li…

Bermudian-headquartered Kiniksa Pharmaceuticals Ltd, a biopharmaceutical company with a portfolio of assets designed to modulate immunological pathways across a spectrum of diseases, has reported a ne…

Somers Limited, the Bermudian-based investment holding company, has reported a net loss of $210.3 million for the 2022 fiscal year.
That compares with net income of $197.8 million in 2021.
Chairman Pe…

Profits before tax more than tripled year-over-year in the first quarter of 2023, HSBC Holdings plc reported on Tuesday.
The parent company of the global banking giant said profit before tax rose by $…

John Darin has been appointed chief executive officer at Catalina General, the Bermudian-domiciled reinsurance company.
Mr Darin was previously chief financial officer at CatGen.
He joined the Catalin…

The RG/BSX Index remained at 2,109.91 at the close, as one issue traded on the Bermuda Stock Exchange.
Trading of 1,000 shares of BF&M Ltd. had the stock close unchanged at $21.95.
The Bank of N.T…

Ocean Wilsons Holdings Ltd has reported a profit after tax of $11.5 million for fiscal year 2022.
Releasing its annual report to the market, the company said that compares with a profit after tax of $…

Shortly after Coinbase announced a Bermuda presence, America’s largest crypto exchange has now announced the launch of its International Exchange.
The institution said today: “In executing on the next…

After completing a hotel management initiative, Bermudians Jaquan Burrows and Tah-Mi Williams are one step closer to their dream of becoming hotel general managers.
The two men are graduates of the H…

Bermudian-based Everest Re Group Ltd has reported first quarter net income of $365 million, equal to $9.31 per diluted share.
That compares to first quarter 2022 net income of $298 million, equal to $…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based Aspida Life Re Ltd and Aspida Life Insurance Company …

The RG/BSX Index closed on Monday at 2,109.91, down 1.19 points (0.06 per cent) on the day.
A total of 9,600 shares changed hands for a turnover of $176, 175.
Some 7,500 shares of BF&M Ltd were tr…

American Overseas Group Limited, the Bermudian-based holding company, has reported a consolidated net loss available to common shareholders of $1.5 million, or $31.42 per diluted share, for fiscal yea…

Bermudian-based Norwegian Cruise Line Holdings Ltd has reported a GAAP net loss of $159.3 million for the first quarter of 2023.
That compares to a net loss of $982.7 million in the prior year period….

Digicel Business is keeping HOME, the charity for homeless people in Bermuda, connected, providing them with high-speed, reliable Digicel Business internet, the company has said.
A Digicel statement s…

An insurance group based in Bermuda has seeded a new foundation with $1 million for the promotion of economic development, education and environmental sustainability initiatives throughout the island….

Nonna’s has opened a new take-out restaurant in the heart of Hamilton.
Little Kitchen by Nonna’s offers breakfast and lunch six days a week from its location on the second floor of Bermudiana Arcade o…

Starr Insurance Companies has announced that it now directly underwrites its property – technical risks through its own insurance companies, concluding a 17-year relationship with Chubb.
The company s…

Bermudian-based global specialty re/insurer Lancashire Holdings Limited has appointed industry veteran Bryan Joseph as a non-executive director.
He will also be a member of both the audit and underwri…

RenaissanceRe executive Justin O’Keefe has been elected chairman of the board of directors at the Reinsurance Association of America.
The RAA is the leading trade association of property and casualty …

Appleby Bermuda partner Tammy Richardson-Augustus has appeared as a panellist at a symposium focused on law, identity, and economic development in the Northern Atlantic and larger Caribbean regions.
T…

Bermudian-incorporated Asia Pacific Wire & Cable Corporation Limited, the manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific regio…

Insurer Arthur J Gallagher had core brokerage and risk management segments combined to post 12 per cent reported revenue growth in the first quarter, according to newly released financial statements.
…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Accelerant Holdings’ rated subsidiaries, including Bermudian-based A…

Westgate Correctional Facility has a spectacular ocean view, but digital asset companies aren’t setting up shop so their executives can see the inside of it, David Burt has told a major fintech confer…

Dear Readers: The Introduction to the Bermuda Island Financial Literacy Perspectives YouTube channel is real and live.
If you click on the YouTube link below, you will see a video that presents an ov…

Dear Dave,
I plan to buy another investment property with cash in the next year or two. Currently, I have $83,000 sitting in a high-yield savings account at 4 per cent interest. My goal is to save ano…

The RG/BSX Index fell 88.27 points (4.18 per cent) for the week to 2,111.10 on a share volume of 16,800 and turnover of $264,395.
The decline for the week was led by Bank of N.T. Butterfield Ltd. whic…

Aon plc, the global professional services firm with a presence in Bermuda, has reported that net income attributable to Aon shareholders increased three per cent to $1.05 billion, or $5.07 per share o…

Jason Hayward, the Minister of Economy and Labour, is to lead the Bermuda delegation at the four-day Risk and Insurance Management Society annual conference in Atlanta, which begins on Sunday.
He will…

To raise tourism air arrivals, Bermuda needs to get the Fairmont Southampton back up and running, a veteran hotelier has said.
Bermuda’s largest hotel has been closed since the pandemic began in 2020….

The parent company of the Bermuda Stock Exchange has entered into a purchase agreement to acquire all of the issued and outstanding membership interests of LedgerX LLC from Ledger Holdings Inc.
Miami …

PartnerRe Ltd operating subsidiaries have received a financial strength rating of A+ (Superior) from ratings agency AM Best, and the long-term issuer credit ratings of “aa-” (Superior).
And AM Best h…