Business

Bermudian Donavan Burgess, the head of Underwriting at Relm Insurance, has been recognised with a 2024 Emerging Leader Award by the Professional Liability Underwriting Society.
The award honours the e…

Bermudian-based Assured Guaranty Ltd has reported net income of $171 million in the third quarter of the year, which compares with $157 million in the prior year quarter.
The company recorded gross wr…

Bermudian-based James River Group Holdings Ltd is to redomicile to the United States next year, the company has announced.
The news came as James River reported a third quarter net loss from continuin…

Bermudian-based Somerset Reinsurance Ltd has appointed Riley LaTour as chief risk officer, responsible for the firm’s risk management strategies and operations.
Mr LaTour was most recently head of Ris…

Anthony Shapella is to be promoted to the role of group chief underwriting officer and will join the executive leadership team at Bermudian-headquartered SiriusPoint Ltd, the company announced.
Mr Sha…

Bermudian-based Fidelis Insurance Holdings Ltd has announced a strategic partnership with Euclid Mortgage Insurance Services LLC, an Illinois-based managing general agency specialising in underwriting…

Rob Bredahl, vice chair of Howden Re, called for reform around the abuse of the legal system that is hiking up insurance claim costs.
Speaking at the PwC Insurance Summit today, Mr Bredahl said that d…

Sales for boat and marine supplies increased by 22 per cent in July, according to the latest Retail Sales Index figures released by the Ministry of Economy and Labour.
It was one of the few bright spo…

Bermudian-based Arch Capital Group Ltd is to return $1.9 billion to its common shareholders in the form of a special cash dividend of $5 per outstanding common share.
The dividend is payable on Decemb…

Bermuda market veteran Benson Latham has been appointed executive vice-president, Head of Crop, at Palomar Holdings Inc, where he will be responsible for leading Palomar’s rapidly growing Crop franchi…

The Florida Commission on Hurricane Loss Projection Methodology has certified the KCC US Flood Reference Model Version 2.0 – the first flood model found acceptable by the commission under the latest s…

After the September 2023 hack, the Government needed to pay 3,500 people manually, but had no cheques in the office, according to the retired National Disaster Coordinator.
“Then the signatures at the…

AM Best has issued a negative outlook for the credit ratings of Bermudian-based Everen Specialty Ltd and its island-based affiliate, Ocil Specialty Ltd.
The news came as the ratings agency affirmed th…

Bermudian-based Lancashire Holdings Ltd has appointed two new non-executive directors, and has announced that two others who have served in that capacity have decided to step down from the company’s b…

I don’t know about you, but I am becoming increasingly annoyed with the constant changes in frequent flyer programmes, and I have really started to wonder whether they offer any true perks.
I can’t …

The RG/BSX Index closed today unchanged at 2,526.08 after no trading on the Bermuda Stock Exchange.
For the week, the Index was up 28.01 points (1.1 per cent) on share volume of 66,219 and total turno…

Bermudian-based RenaissanceRe Holdings Ltd has appointed Loretta Mester to serve as an independent director of the company.
The company added that Brian Gray, who has served as a member of the board s…

Lancashire Holdings Ltd’s net losses related to recent weather events could reach $140 million, the company said as it issued a trading statement for the nine months ended September 30.
The Bermudian-…

Bermudian-based Conduit Re grew gross premiums written by 25.2 per cent year-over-year in the first nine months of 2024, the company’s parent has reported in a trading statement.
Conduit Holdings Ltd …

Bermudian-headquartered insurer Kettle has appointed Isaac Espinoza as chief executive.
The company said he will join cofounder and chief technology officer, Son Le, in leading the business.
Kettle is…

White Mountains Insurance Group Ltd, the financial services holding company domiciled in Bermuda, has reported that comprehensive income attributable to common shareholders was $180 million and $361 m…

Island law firms are celebrating recognition in Legal 500, a leading legal directory providing in-depth analysis and research commentary on legal services worldwide.
Conyers was recommended as a top-t…

A veteran realtor called government policy involving payroll taxes for many employers “unfair, inconsistent and discriminatory”.
Ahead of today’s Throne Speech, Brian Madeiros, president and chief exe…

Blown tyres, cracked auto-body parts, brake issues — water trucker Norris Burgess has experienced it all in the past four years.
“Damage from potholes and speed bumps, and rerouting, has cost my busin…

Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has delivered the first ship to BW LPG Ltd as part of the former company’s sale of its 12-…

Generally, there are three categories of information technology buyers: non-technology enterprises, non-IT technology companies and IT technology companies. Each category of IT buyer is very different…

A subsidiary of Bermudian-based Assured Guaranty Ltd has insured $920 million of senior Special Facilities Revenue Bonds issued by the New York Transportation Development Corporation in connection wit…

Bermudian-headquartered Hamilton Insurance Group Ltd has reported net income of $78.3 million for the third quarter, according to results published today.
Pina Albo, CEO of Hamilton, said: “Just over …

The shareholders of Bermudian-based insurer, Enstar Group Ltd, have given the necessary approval for the company’s proposed $5.1 billion acquisition by Sixth Street, the San Francisco-headquartered gl…

The US Central Bank this afternoon announced it had cut interest rates for the second time in row.
The cut puts the Federal Reserve’s lending rate in the range of 4.5 per cent to 4.75 per cent.
A stat…

The owners of Belco, Algonquin Power & Utilities Corporation, have announced third quarter net earnings of $64.9 million.
“We continue to hit key milestones on our journey towards a simpler and mo…

RenaissanceRe has reported third-quarter net income available to common shareholders of $1.17 billion, a jump from $194 million in the prior-year quarter.
Operating income was $540.3 million, up from …

The Bermuda Chamber of Commerce is hoping to see a review of the sugar tax in the Throne Speech on Friday, which officials say could be causing more problems than it solves.
Marico Thomas, Chamber pr…

Martin Klein, executive vice-president and chief financial officer of Bermudian-based Athene Holding Ltd, the retirement services company, is to retire.
Athene said it will initiate a search for a new…

HSBC has shelved its MySavings Youth Account programme.
The announcement comes as crosstown rival Butterfield is on the verge of upgrading their longtime youth savers programme.
In a letter sent to cu…

Health officials are exploring an outright ban on trans fatty acids in restaurants and new restrictions on the importing of trans-fat products into the island.
The issue is being looked at after 2023 …

Caribbean businesses will come under increasing pressure to eliminate trans fats, through country-level initiatives.
In 2022, Caricom Ministers of Trade and Health committed to enacting legislation by…

Property, casualty and specialty insurer and reinsurer, Everest Group, had more than half a billion dollars in net income for the third quarter, and total shareholder return of 19.4 per cent annualise…

Axis Capital’s latest financial statements report net income available to common shareholders of $173 million in Q3, down from $204 million in the previous quarter.
Operating income was $230 million i…

Bermudian-based Arch Capital Group Ltd has reported third quarter net income available to Arch common shareholders of $978 million, or $2.56 per share, representing a 19 per cent annualised net income…

Tucker’s Farm Corporation, the Bermudian-based investment holding vehicle, has closed a Series A funding round for its medical aesthetics holding company with a leading growth equity investor that has…

When the Bermuda Economic Development Corporation created the By Bermuda programme in February they expected a rush of interest.
The programme offers small and micro businesses a website to showcase t…

Bermudian-based Everest Reinsurance has promoted Shirine Dajjani to the role of International Reinsurance operating officer.
In this new position, she will oversee alignment of the company’s internati…

Bermudian associates Celine Collis and Matthew MacLeod have joined the corporate practice at law firm Conyers.
Ms Collis joins Conyers from Reed Smith LLP in London, bringing expertise in corporate an…

Before its closure, breakfast was very popular at the Pitts Bay Road restaurant, Bouchêe. The French bistro’s red velvet waffles and eggs Benedict were favourites.
The restaurant closed last year whe…

Chubb’s latest earnings report reveals that in the first nine months, net income and core operating income were a record $6.7 billion and $6.75 billion, up 16.9 per cent and 13.8 per cent, respectivel…

Nominations for the eighth annual Business Awards presented by the Bermuda Economic Development Corporation are set to close on Friday.
The BEDC is accepting nominations in ten categories: Entrepreneu…

The retirement of Enstar Group Limited president Orla Gregory at the end the year, and the expanding role of Enstar in the insurance industry has led to changes to the company’s executive leadership t…

Bermuda’s captive insurance industry has been rocked by the passing of Leslie Robinson, a former insurance regulator and industry executive, who has passed away at 57.
The Bermuda Captive Network sai…

Two veteran executives with strong Bermuda connections have been appointed to the group board of Accredited Insurance Holdings, the global programme manager, as non-executive directors.
The company sa…