Business

The professional organisation for women working in Bermuda’s reinsurance sector is seeking nominations for its inaugural lifetime achievement award.
Marking its 15th anniversary, Women in Reinsurance …

Bermudian-headquartered Ardmore Shipping Corporation, which owns and operates product and chemical tankers, has appointed James Fok to the company’s board as a class III director.
The company said he …

Apex Group Ltd, the Bermudian-based global financial services provider, has plans to hire more than 500 additional staff in Johannesburg as its footprint in South Africa continues to grow.
The news co…

Pina Albo, CEO of Hamilton Insurance Group, Ltd., is the new chair of the Association of Bermuda Insurers and Reinsurers, following the organisation’s biennial election of officers at a recent board m…

Bermudians resuming their pre-pandemic lifestyle of travel may find more of their plans stranded on the runway as airlines begin raising the bar for travel perks, like lounge access and elite status.
…

A Bermuda lawyer is identifying shifting reinsurance market trends that can also alter the future of cat bonds and the issuance of insurance-linked securities in the year ahead.
Interviewed by ILS spe…

Catastrophe bond and issuance of insurance linked securities fell by more than $1.5 billion in Q4 2022 when compared to the same period in 2021, according to a new report from Artemis.
Issuance fell t…

Two senior executives formerly with Bermudian-based Aspen Insurance are leading the newest syndicate at Lloyd’s.
Josh Ladeau is the chief executive of Trium Cyber, syndicate 1322, the new risk carrier…

Well, folks, it’s somehow January already. And you know what that means: training your brain to write 2023 instead of 2022 on everything. It also means the season of resolutions is officially upon us….

Bermudian-based R&Q Insurance Holdings Ltd, the non-life global specialty insurance company, and Texas-headquartered investment firm Obra Capital Inc have acquired, through a newly formed joint ve…

Palomar Holdings Inc, which has a subsidiary company in Bermuda, has announced the successful completion of certain reinsurance programmes covering California earthquake risk.
The company renewed its …

Claire van Overdijk, counsel in the Bermuda office of international law firm Carey Olsen, has been appointed King’s Counsel following her successful application in the 2022 KC competition.
The firm sa…

Bermudian-based RenaissanceRe Holdings Ltd has kicked off the new year by promoting five members of its underwriting leadership team.
Justin O’Keefe is now the chief underwriting officer, North Americ…

A company majority owned by rap artist Jay-Z has applied to the US District Court Southern District of New York for the right to subpoena six New York insurers for documents to purportedly use in a mu…

Everest Re Group Ltd, the Bermudian-based global re/insurer, has appointed Srini Maddineni as group chief information officer, effective January 16.
Mr Maddineni will succeed Terry Walker, and report …

The majority of investors surveyed in an EY survey believe alternative asset fund managers are delivering value in volatile financial markets through positive short-term performance and promising long…

Insight into the overall health of Bermudian businesses is to be revealed in a presentation by the Bermuda Chamber of Commerce.
The results of the Business Barometer Survey commissioned by the Chamber…

Darag Group, the international legacy acquirer, has appointed Laura Pearson as head of M&A (UK), effective February 1.
Ms Pearson joins Darag from her role as a senior manager in PwC’s deals advis…

Paul Eaton has been appointed as the new chief executive officer of Artex International.
He succeeds Nick Heys, who has transitioned to become the chairman of the organisation.
Mr Eaton, who is based …

A former general manager of Elbow Beach Hotel has been appointed as managing director, platform head at US-based LW Hospitality Advisors.
Edward Shapard, who is based in Aspen, was GM of Elbow from 20…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has appointed Paul O’Neill as president of Commercial Lines, Insurance, Asia Pac…

Rugged Rentals will offer nearly a third of its fleet to long-term rentals, including monthly contracts for its new Gem fleet, as of February 1.
The company is offering the pilot programme to determin…

As befits the owner of a business called Zen Crystals Bda, Kim Lawrence was pretty chill after being voted Female Entrepreneur of the Year for the second time in three years.
“I have to be very relaxe…

Three federal agencies in the US have suddenly issued a wide-ranging warning on the dangers posed to banks by cryptoasset risks.
The Board of Governors of the Federal Reserve System, the Federal Depos…

The RG/BSX Index closed unchanged at 2,317.69 on the Bermuda Stock Exchange Wednesday.
The day saw 1,002 shares of BF&M Ltd change hands having a value of $21,042 or $21 per share.
Overseas, the B…

Arch Insurance Canada Ltd, a wholly-owned subsidiary of Bermudian-based Arch Capital Group Ltd, has promoted Jean-Pierre Galipeault to president and chief regional executive.
Mr Galipeault joined Arch…

Rims, the risk management society, has announced that Jennifer Santiago will lead the organisation as president for the 2023 term.
Ms Santiago is the director, risk management & safety at Wakefern…

Chubb, the world’s largest publicly traded property and casualty insurance company, has launched a new global climate business unit.
The company said the unit will draw on the company’s extensive tech…

Bermudian-based Fidelis Insurance Holdings Limited has completed the transaction creating a new managing general underwriter separate from FIHL and the existing insurance companies (the Fidelis Insura…

Tourism-dependent retailers are salivating over a record number of cruise calls expected to hit Bermuda ports in 2023, starting today.
After years of slowdowns, lockdowns and shutdowns impacting their…

Entrepreneur Alyson Thompson has closed Cedarberry Foods, the business venture that produced plant-based butter and nog.
Ms Thompson paid tribute to her customers in a Facebook post on the Cedarberry …

AXA XL Insurance has promoted Cheri Hanes, formerly subcontractor default insurance construction risk engineering manager, to vice-president, head of innovation and sustainability for its North Americ…

The RG/BSX Index closed unchanged at 2,317.69 on Tuesday with no trading on the Bermuda Stock Exchange.
Overseas, the Bank of N.T. Butterfield & Son Limited was up 37 cents (1.24 per cent) to clos…

Bermudian George F Hutchings is stepping down as chief operating officer of Everen Limited on April 1, the company has announced.
Mr Hutchings, who will retire at the end of 2023, will remain at Evere…

Insurance industry veteran Don Bailey has joined American International Group as global head of distribution and field operations.
He reports to Peter Zaffino, chairman and chief executive officer.
Fo…

Jon Burull has been named president and chief executive officer of Watlington Waterworks Limited.
Mr Burull, formerly the chief operating officer of Bermuda Waterworks Limited, succeeds Allan Rance, w…

The Bermuda Economic Development Corporation has launched a programme to help the island’s food entrepreneurs to operate their businesses in fully-licensed, commercial kitchens.
The BEDC said the goa…

Due to an almost unprecedented barrage of restrictive Federal Reserve monetary policies, stock and bond prices plummeted throughout 2022. The past year’s Fed policy initiatives included seven large in…

The January 1 renewals have proven to be one of the most challenging reinsurance markets the sector has experienced as reinsurers and cedents worked to establish a new market equilibrium, a leading gl…

If you’re going to adopt only one resolution for 2023, this should be it: taking care of yourself for better career, family and finance management by improving your knowledge base with lifelong learn…

So, you’ve made a resolution to take control of your money this year – that’s amazing. A huge part of building new habits in any area of your life is just deciding you’re going to do it, so you’ve alr…

The redomiciliation of a major tanker company from Bermuda to Cyprus is effective.
The company, which is engaged primarily in the ownership and operation of oil tankers and product tankers, was former…

Darag Group, the international legacy acquirer, has concluded a reinsurance agreement with a large US carrier.
The transaction, written into Darag Bermuda, had a value at the reference date of approxi…

A long-time member of the board of directors of Everest Re Group Ltd, the Bermudian-based global re/insurer, has died.
The company said John Arthur Weber passed on December 25.
“It has been an honour …

American Overseas Group Limited, the Bermudian-based holding company, has reported a consolidated net loss available to common shareholders of $0.4 million for the three months ended September 30.
Thi…

The next step of a pilot programme using digital tokens to benefit vendors and residents has been delayed, the Ministry of Finance confirmed.
The Digital Stimulus programme, announced in September 202…

Insured losses from Winter Storm Elliott are estimated to be $5.4 billion across 42 US states, a leading catastrophe risk modelling organisation has said.
Karen Clark & Company said its winter sto…

A Bermudian-based company is helping to fund the $1 billion-plus acquisition of one of Australia’s oldest mines.
Osisko Bermuda Limited, a subsidiary of Montreal-headquartered Osisko Gold Royalties Lt…

The RG/BSX Index closed unchanged at 2,424.96 with no trading on the Bermuda Stock Exchange.
Overseas, The Bank of N.T. Butterfield & Son Limited was up 65 cents (2.20 per cent) to close at $30.20…

Your internet bill is going up.
Monthly charges for its FibreWire internet plans will increase on February 1, One Communications has announced.
The telecommunications company said the monthly price in…