Business | Bermuda News Updates

Argo installs seven directors after withdrawal of rival candidates

December 19, 2022

Shareholders of Argo Group International Holdings Ltd have voted to elect the seven director nominees put forward by the company for election at the annual general meeting of the Bermudian-based speci…

Somers reports second half net loss of $147.7 million

December 18, 2022

The Bermuda Stock Exchange listed financial services investment holding company, Somers Ltd., has reported a net loss over the second half of the year and substantial declines in shareholders’ equity …

RiverStone and Axis Capital in LPT reinsurance deal

December 18, 2022

RiverStone International has entered into loss portfolio transfer reinsurance agreements with affiliates of Axis Capital Holdings Limited, which cover several of its professional lines and liability …

Conduit Re grows underwriting in year two

December 18, 2022

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based Conduit Reinsurance Limited.
The outlook of these cre…

Specialty market leader has superior ratings affirmed

December 17, 2022

AM Best has affirmed the financial strength rating of A++ (Superior) and the long-term issuer credit ratings of “aa+” (Superior) of Bermudian-based HCC Reinsurance Company Limited, together with the p…

Argo AGM installs seven directors to the board

December 17, 2022

Shareholders of Argo Group International Holdings Ltd have voted to elect the seven director nominees put forward by the company for election at the annual general meeting of the Bermudian-based speci…

Best rating for Everen’s new Bermuda energy reinsurer

December 17, 2022

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based Ocil Specialty Ltd.
The outlook of these credit ratin…

New ratings assigned for Bermuda reinsurers

December 17, 2022

AM Best has assigned ratings to two reinsurers domiciled in Bermuda.
The ratings agency assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a+” (Excellent) t…

Appleby continues longstanding support for charity

December 17, 2022

Appleby’s Bermuda office has delivered holiday gift donations to local charity Star – Supportive Therapy for Aids Persons and their Relatives.
This marks Appleby’s 24th year supporting Star families d…

Understanding food supply chain and drivers of soaring prices

December 17, 2022

According to the World Bank, Bermuda still has one of, if not, the highest GDP per capita world-wide at $110,869.50.
Hah! If they only knew just how extraordinarily expensive it is to live on an isol…

Generosity is not just for Christmas

December 17, 2022

No matter what your holiday plans look like, one thing most people can agree on is that giving is a huge part of the Christmas season. And it’s fun to think about our own wish lists, of course. But so…

Floating solar panels could be destined for Castle Harbour

December 16, 2022

A private company could establish a new, ten-megawatt solar farm in Castle Harbour, consisting of floating photovoltaic panels, it has emerged.
A new report, dated December 16, 2022, outlines how inve…

Athora completes third capital raise

December 15, 2022

Bermudian-based Athora Holding Ltd has completed its third capital raise, securing a total of approximately €2.75 billion of additional permanent equity capital commitments from new and existing share…

Ark Insurance has excellent credit ratings

December 15, 2022

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Bermudian-based Group Ark Insurance Limited.
Gail is a wholly-owned sub…

Charles Mathias promoted at Fidelis Insurance

December 15, 2022

Bermudian-based Fidelis Insurance Holdings Limited has promoted Charles Mathias to the post of deputy chairman.
The promotion was one of three announced by the privately-owned holding company, which, …

Bank stock falls 3.34% on NYSE

December 15, 2022

The RG/BSX Index remained unchanged at 2,424.96 with no trading on the Bermuda Stock Exchange Thursday.
Meanwhile, the Bank of N.T. Butterfield & Son Limited finished down $1.10 (3.34 per cent) to…

Qatar and Antares Re in rating downgrade

December 15, 2022

AM Best has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and the long-term issuer credit ratings to “a-” (Excellent) from “a” (Excellent) of Qatar Insurance Company QS…

Bacardi recognised among top female-friendly companies

December 15, 2022

Bacardi, the drinks giant based in Bermuda, has been recognised by Forbes as one of the world’s top female-friendly companies.
The prominent list and results are based on an independent survey of appr…