Business

A Singapore-based hybrid cryptocurrency exchange said that it was the first decentralised exchange to secure regulatory approval, having obtained a Class M digital asset business licence from the Berm…

The owner of a Bermudian-based alternative risk management specialist business has agreed a $13.45 billion deal to buy a US insurance broker.
Arthur J Gallagher & Co, which owns Artex Risk Solutio…

Bermudian-domiciled artificial intelligence firm Afiniti Ltd has successfully completed a recapitalisation transaction.
The firm, which once promised to bring 1,000 jobs to the island, said the transa…

AM Best has affirmed the credit ratings of Orion Reinsurance (Bermuda) Ltd, a Class 3 captive insurance company that was set up on the island in 2004.
The ratings agency affirmed the financial strengt…

AM Best has affirmed the credit ratings of Bermudian-based Lancashire Holdings Ltd and its subsidiaries.
The ratings agency affirmed the financial strength rating of A (Excellent) and the long-term is…

The Government has emphasised its commitment to advancing renewable energy solutions.
Home affairs minister Walter Roban made the statement after attending the 2024 High-Level Caribbean Forum in Barba…

Court House Squash & Wellness has donated $4,500 to Dementia Bermuda in support of Bermudians living with dementia and their caregivers.
The money was raised at the organisation’s annual members’ …

Bermudian-based Signet Jewelers Ltd, the world’s largest retailer of diamond jewellery, has reported operating income of $9.2 million in the third quarter of fiscal year 2025.
Reporting results for th…

After fighting high import costs this year, many local small business are hoping for relief in 2025.
Retailer Reva Minors, of Loquat Roots, has seen mushrooming costs to import herbs and spices for h…

New sanctions published to the Bermuda Monetary Authority website for the first time have targeted Northern Ireland related terrorism.
The sanctions come under Domestic Counter-Terrorism Regulations, …

Bermuda Aviation Services Ltd and its subsidiaries have reported net income from continuing operations of $1 million for the six months ended September 30, doubling the $500,000 in net income recorded…

AM Best has affirmed the credit ratings of Germany-based Hannover Re and its main subsidiaries, including island-headquartered Hannover Re (Bermuda) Ltd and Hannover Life Reassurance Company of Americ…

Lancashire Holdings Ltd has made a raft of senior leadership changes, including James Flude’s appointment as chief executive of Lancashire Insurance US and Huw Jones’s appointment to the new role of c…

Bermuda’s legal fraternity has been recognised in the Chambers and Partners Fintech 2025 Guide.
A leading directory for the legal industry, Chambers ranks law firms and their lawyers across 200 jurisd…

AM Best has affirmed the credit ratings of Harrington Re Ltd and Harrington Reinsurance Holdings Ltd, both of which are domiciled in Bermuda.
The ratings agency affirmed the financial strength rating …

I don’t really like to talk or even think about anything related to death. But after many years and accumulating numerous — albeit small — assets that are scattered across different countries, that dr…

Mike Karmilowicz has notified Everest Group Ltd of his decision to resign from his role as chairman, Everest Global Insurance, the company has revealed in a filing with the US Securities and Exchange …

A major Hamilton retailer has pronounced Black Friday sales a fantastic success, and is now seeing a steady increase in spending in the lead up to Christmas.
Deanne Hart, marketing and communications…

A new telecommunications firm has set up shop, promising Bermudians hassle-free service.
Founder Lee Greene said B-Mobile will operate by leasing access to OneComm’s 5G and 4G LTE networks instead of …

A delegation from Bermuda has returned from the United Arab Emirates after discussions aimed at strengthening relations between the two countries.
The Bermuda Business Development Agency’s managing di…

Aspen Insurance Group chief executive and executive chairman Mark Cloutier has been elected chairman of the Association of Bermuda Insurers and Reinsurers for 2025-2026.
He succeeds Hamilton Insurance…

A subsidiary of Argus Group Holdings Ltd has completed its acquisition of 3,394,403 shares in BF&M Ltd from Lawrie (Bermuda) Ltd, a wholly-owned subsidiary of Camellia Plc.
Argus announced on Wedn…

The RG/BSX Index closed today unchanged at 2,527.36.
Some 3,394,403 shares in BF&M Ltd changed hands on the Bermuda Stock Exchange. The stock closed unchanged at $18.05.
Overseas, Butterfield Bank…

Bermudian-based Axa XL has appointed two new client relationships leaders in the United States.
Russell Caminske joins as the east zone CRL in New York, and Ryan Larson as the west zone CRL in San Fra…

Insured losses from natural catastrophes will break the $100 billion mark for the fifth consecutive year, a major reinsurer said.
According to Swiss Re Institute’s estimates, with temperatures 1.54C a…

Solvency coverage of large global reinsurers improved on the back of strong earnings generation and positive rates environment in 2023 and the third quarter of this year, Fitch Ratings said.
The agenc…

The Bermuda Foundation for Insurance Studies has appointed Shellé Thompson as chairwoman of its board of trustees.
Ms Thompson, who has served on the board of trustees since 2017, succeeds outgoing ch…

There is steep demand for the ability to authenticate a person’s identity through the use of a trusted repository of their digital information.
In response to that growing demand, the Bermuda Monetary…

Domestic insurer BF&M Ltd today acquired more than seven million shares in Argus Group Holdings Ltd as it moved closer to completing the amalgamation of the two companies.
In a statement filed wit…

The RG/BSX Index closed today unchanged at 2,527.36.
Some 7,096,925 shares in Argus Group Holdings Ltd changed hands on the Bermuda Stock Exchange. The stock closed unchanged at $4.70.
Also on the BSX…

Liberty Mutual Bermuda has partnered with Mailboxes Unlimited to deliver much needed school supplies to two local primary schools.
A spokesman for the insurance firm said Mailboxes Unlimited had waive…

CEOs are doubling down on talent and technology as confidence in the global economy declines, according to a KPMG survey of more than 1,300 of the world’s corporate leaders.
Pessimism aside, they are …

One of Bermuda’s most enduring mysteries has been celebrated with the creation of an almost exact replica of the Tucker Cross by jewellers Astwood Dickinson.
The gold and emerald-encrusted Tucker Cros…

One of Bermuda’s most successful international fashion models says social media is slamming the careers of industry veterans such as himself.
“Social media has driven down the value of true artists, w…

Leading the 20th annual KPMG Senior School Investment Challenge is a Warwick Academy team that is up more than 30 per cent in its first month of virtual stock investing.
The Moral Hazards team used 1…

Mentorship by industry leaders and subject-matter experts from two of the world’s major insurance and reinsurance markets awaits successful applicants for cohort 14 of the Lloyd’s Lab’s award-winning …

Bermudian-based Aspen Insurance Holdings Ltd is to call all 11 million of its outstanding 5.95 per cent fixed-to-floating rate perpetual non-cumulative preference shares for redemption on January 1.
A…

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…