Business

The insurance-linked securities market posted another year of strong returns in 2024, with total capacity reaching an estimated $107 billion by year-end, according to a new report from AM Best: ILS Ma…

Elementum Advisors has appointed Jeff Davis and Paul Barker as chief investment officers, marking a leadership transition within the firm’s catastrophe bond and collateralised reinsurance investment d…

When Sylvia Oliveira first came to Bermuda to work as a young life actuary, the regulatory requirement for a life insurance company was to hold $250,000, and that was it.
“Obviously, companies held mo…

Ricardo Lara, the California Insurance Commissioner, is in hot water in Sacramento for attending the Bermuda Risk Summit last week, instead of the first hearings of the year for lawmakers in the state…

A new artificial intelligence-driven parametric insurer has launched in Bermuda and Texas, aiming to transform how natural catastrophe risks are underwritten and managed.
Mythen, founded by insurance…

The RG/BSX Index fell 58 cents (0.02 per cent) to `2,454.92 today, based on the 10 cent (7.1 per cent) decline of Bermuda Aviation Services Ltd to $1.30 after the trading of 197,300 shares.
Other trad…

Devonshire Cougars 2 Paget Lions 0

Police were called as tempers flared during an often violent FA Cup semi-final at Bernard Park yesterday.
Devonshire Cougars forward Kamali Davis was involved i…

Insurance icon Brian Duperreault has dismissed concerns about possible fallout from the introduction of corporate income tax in Bermuda, predicting things will be fine.
“I do not think the tax is goin…

A warning has emerged from a just-concluded insurance conference about future Bermudian employment opportunities in the industry and today’s education system.
A top executive told Bermuda Risk Summit …

Tucker’s Farm Corporation has acquired one of the largest family-owned locksmith businesses in the US, marking the Bermudian-based investment vehicle’s expansion into the security sector through its n…

Hamilton Global Specialty has appointed Sinead Cormican as active underwriter of Syndicate 4000 as of April 1, subject to regulatory approval.
Ms Cormican, who has served as deputy active underwriter …

Auto Solutions team member Somers Smith has been named Sales Associate of the Year 2024 for Suzuki Caribbean, beating out 116 sales associates across 22 islands in the Caribbean.
Mr Smith, who began a…

A global financial technology firm and a stablecoin market leader will bring its newly acquired Hashnote Tokenised Money Market Fund, under its existing Digital Assets Business Act licence in Bermuda….

Gallagher Re has launched their Cyber-Risk Adjusted Rating Index, a measure of the change in reinsurance prices adjusted for expected changes to the underlying level of risk.
The company said that un…

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Acord Solutions Group has launched the Adept Bermuda Regional Hub, offering one million free digital messaging transactions to new Bermuda-based clients in 2025. The initiative aims to accelerate the …

Bermuda represents about 35 per cent of the global reinsurance capacity, a local reinsurance executive revealed at the Bermuda Risk Summit.
“That is an amazing amount for such a small island,” said J…

Bermuda’s insurance industry is better positioned than most to navigate the geopolitical and regulatory minefields facing the world today, but industry leaders at the Bermuda Risk Summit emphasised th…

Moody’s Ratings said that an analysis of pricing information from several leading reinsurance brokers and top European reinsurers on reinsurance placements renewed January 1, 2025 revealed a dip in pr…

The Association of Bermuda Insurers & Reinsurers, The Institutes Knowledge Group and The Bermuda College are jointly expanding opportunities for college students in Bermuda to learn critical leade…

The worrying report from the Economic Committee of the Bermuda Chamber of Commerce raises far more questions than answers, and shares concerns about the state of the economy and its future.
Entitled “…

Industry executives discussed the continuing explosion in Bermuda’s long-term reinsurance sector during a Bermuda Risk Summit panel session at the Hamilton Princess & Beach Club.
Anam Kahn, a seni…

Giacomo Mariani will be running Everest’s insurance business in Italy, following its Milan office opening last November 2024.
With extensive Italian market expertise, Mr Mariani’s deep insurance indus…

The last two years were the hottest on record and the election of American President Donald Trump threatens to destabilise the situation further, according to the Bermuda Risk Summit keynote speaker J…

The RG/BSX Index closed down 9.52 (0.39 per cent), pulled down by BF&M trading of 16,822 shares on the Bermuda Stock Exchange, finishing at a dollar lower (5.9 per cent) at $16 at the close.
Mean…

A Bank of England retiree with extensive financial services and regulatory expertise has been appointed the new vice-chair of Bermuda’s Financial Policy Council.
Jill May is a seasoned financial servi…

Thomas “TJ” Krzmarzick, is Vantage Group Holdings’ new head of US excess casualty while Thomas Burtle, has been appointed chief underwriting officer, casualty.
A spokesman said these promotions unders…

The Bermuda Stock Exchange has launched a fully integrated trading, clearing and settlement platform, marking a major technological advance.
The system, developed in partnership with its parent compa…

While Bermuda has a strong regulatory framework, it will not continue to be as effective without the right people, Craig Swan, the chief executive of the Bermuda Monetary Authority, told industry lead…

AM Best has affirmed the financial strength rating of ‘A’ (Excellent) for Bermuda-based Coralisle Group Ltd’s life/health and property/casualty subsidiaries in Bermuda, The Bahamas and the Caribbean.
…

While Bermuda has a strong regulatory framework, it won’t continue to be as effective without the right people, Craig Swan, CEO of the Bermuda Monetary Authority, told industry leaders at the Bermuda …

Out of 100,000 Coldwell Banker agents in 40 countries, Bermuda’s own Brian Madeiros has placed in the top 2 per cent of all sales associates and representatives.
Mr Madeiros became president and chief…

Bermuda has one of the fastest growing economies in the Latin American and Caribbean regions, Jason Hayward, Minister of Economy and Labour told the Bermuda Risk Summit 2025.
During the event, Mr Hay…

Wilton Re Bermuda chief executive officer and chair, Sylvia Oliveira, has been awarded woman of the year status by the organisation Women in Reinsurance Bermuda.
Ms Oliveira received the accolade earl…

The restaurant group, MEF has reopened Achilles, their St George’s Parish restaurant at Achilles Bay, adjacent to Fort St Catherine.
With a menu based on Mediterranean and Asian flavours, the tavern r…

California wildfires destroyed expensive fine art housed in museums and multimillion dollar mansions, causing a leading insurer to focus on broader losses beyond property values during an insurance fo…

With the international business sector now representing 29 per cent of the island’s economic activity, the Government is looking to grow it even further through diversification.
“We began with captive…

AM Best has assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a+” (Excellent) to Bermudian reinsurer, Cavello Bay Reinsurance, a subsidiary of Bermudian-ba…

Insurer and reinsurer, Allied World Bermuda, has promoted 16 employees in recognition of their talent and hard work.
Colm Singleton, head of the Bermuda office stated: “I would like to congratulate o…

Paradise Mobile has the fastest 5G network in Bermuda for the second time in a row, winning the Ookla Speedtest Award for the third and fourth quarters of 2024, just six months after its first win.
Th…

Albert Moura, operating principal of Keller Williams Bermuda, has received the Luminary Award, the most prestigious award given out by Keller Williams Worldwide, regions outside of the US and Canada. …

A request for proposals to provide free wi-fi in North East Hamilton is nearing its deadline, with vendors asked to submit by 5pm this Wednesday March 12. The Bermuda Economic Development Corporation…

Bermudians Katie Trimingham and Chloe Lusher are expanding their event planning business to take advantage of a burgeoning destination wedding trend.
“This year and the next are predicted to have the…

The board of Bermudian-based Lancashire Holdings Ltd has approved a raft of committee appointments.
Nathalie Rachou has been appointed as a member of both the audit committee and the investment commit…

Bermudian-based Everest Group Ltd has appointed industry veteran John Howard as an independent, non-executive member of its board of directors.
Jim Williamson, Everest president and chief executive, s…

The Bermuda Business Development Agency will launch the Future Leader Forum next week as part of the Bermuda Risk Summit, aiming to connect students and career changers with opportunities in the islan…

The RG/BSX Index fell 223.83 points (8.32 per cent) to 2,465.60 today, based on the $4.00 (10 per cent) decline of Butterfield Bank to $36 after the trading of 438 shares.
The only other trade was 65 …

Bermudian-based Axa XL has partnered with Darkweb IQ, the cybercrime prevention firm, to help its global cyber insurance clients to strengthen their cybersecurity practices.
Axa XL said New York-headq…

A wholly-owned subsidiary of Bermudian-domiciled Gold Reserve Ltd, the exploration stage mining company, has filed a request for arbitration against the government of Venezuela.
GR Mining (Barbados) I…

The Bermuda Monetary Authority will celebrate International Women’s Day on Saturday by hosting a luncheon for its 158 female employees at BMA House.
The event will highlight the contributions of women…