Business

For Londoner Rebecca Bateman, setting up a business in Bermuda as a non-Bermudian had its hurdles.
Before launching Bermy Recipe Box, she had to set up a full-limited company and then apply for a work…

As the world of work continues to evolve, workplace forum The Huddle, has arranged an event to help people navigate career transitions.
The virtual discussion on Tuesday will particularly target peopl…

The shareholders of Bermudian-domiciled Hafnia Ltd, the tanker-owning company, have voted to approve a scheme of arrangement that proposes to re-domicile the company to Singapore.
The company is to pe…

Abacus Ltd, the Bermudian-based accounting firm, has appointed Dominic Mensah to the role of financial solutions consultant.
Mr Mensah, who holds an MBA in Finance, has held a number of accountancy ro…

A sidecar established in 1999 by co-sponsors RenaissanceRe and State Farm Mutual Automobile Insurance Company has had its ratings affirmed by AM Best.
The ratings agency affirmed the financial strengt…

While government introduced a framework of solutions for family offices some six months ago, it appears there will be slow progress in attracting the speciality business of wealthy clients.
A family o…

AM Best has affirmed the credit ratings of Bermudian-based RenaissanceRe Holdings Ltd and its main subsidiaries, many of which are also domiciled on the island.
The ratings agency has:
• affirmed the …

With deepening concern over the climate crisis, the director of a global investments consulting company is advising his wealthiest clients to invest in heating, ventilation and air conditioning firms….

Gallagher has appointed Bermudian Jasmine DeSilva as managing director of its new specialty business on the island.
The global insurance broker, risk management services and consulting firm, which has…

Ninety per cent of the globe’s ocean-going tonnage is reinsured in Bermuda, the Bermuda Captive Conference was told.
In a session on Bermuda mutual captives, Tawana Tannock, managing director, Skuld …

The demographic shift towards an ageing population in Bermuda raises important matters that should be considered, including any legal problems encountered in the wake of an ageing trend, and what step…

Bermuda Aviation Services Ltd and its subsidiaries have reported total comprehensive income of a little more than $1 million for the year ended March 31.
The company’s income of $1.005 million compare…

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

Gregory Garnier has been appointed as chief executive of HSBC Bank Bermuda Ltd.
Mr Garnier, whose appointment becomes effective September 23, will succeed Steve Banner who has served as CEO of the Ber…

San Francisco-based Coalition, which bills itself as the world’s first Active Insurance provider designed to prevent digital risk before it strikes, has announced the creation of its reinsurance inter…

Industry veteran Pranav Shroff has joined Bermudian-based Axis Capital Holdings Ltd as head of Life Sciences in North America.
The company said Mr Shroff will lead the development of a suite of specia…

Multistrat, the specialty reinsurance and capital advisory firm, has announced two senior promotions in its underwriting team as the company continues to build out its expertise, talent, capital, bro…

Regulatory changes in Bermuda and elsewhere may affect investments and financial returns for global reinsurers, delegates to the annual gathering of Rendez-Vous de Septembre have been told.
The global…

Cyber insurance is poised for exponential growth over the coming decade, but it remains a capital-intensive peril that requires structural innovation, according to CyberCube, the cyber-risk analytics …

PwC hosted over 400 reinsurance executives across three events at the annual Rendez-Vous de Septembre in Monte Carlo this week.
The PwC Executive Breakfast at the Hermitage Hotel featured keynote spea…

The Argus Group has released its third annual Sustainability Report, charting its progress in addressing challenges including climate change and social equity.
The company said the focus is on how Arg…

Companies caught within the scope of Bermuda’s new corporate income tax regime will likely be required to make at least two periodic payments next year before making their first formal tax filing in t…

Mosaic Insurance is continuing the buildout of its Environmental Liability division across the Americas, adding 13 leading US environmental risk specialists to the team.
The division, which the compan…

Bermuda must improve its marketing game if it is to remain the jurisdiction of choice for the world’s captive insurance industry, a panellist said today at the Bermuda Captive Conference at the Pier S…

Fitch Ratings has affirmed a stable outlook for retirement services company, Athene, but said their investment portfolio remains more exposed to potential market volatility than the broader life indu…

Six credit rating agencies have admitted to wrongdoing and agreed to pay penalties totalling more than $49 million to settle US Securities and Exchange Commission charges.
The SEC said the charges wer…

Telecom newcomer, Paradise Mobile, has launched two roaming plans for its new mobile phone provider, designed for frequent travellers.
The company said: “Unlike competitors, Paradise Mobile eliminates…

Bala Nadarajah has been posthumously awarded the Fred Reiss Lifetime Achievement Award for 2024, honouring his remarkable career and contribution to Bermuda’s international insurance and reinsurance i…

Andreas von Reitzenstein has been appointed senior vice-president, Underwriting; in the Bermuda office of Chicago-headquartered Elementum, the alternative investment manager specialising in collateral…

Makari Mathias and Zyjaé Trott-Philip have been selected apprentices as part of the ASCEND School Leaver programme of Aspen Insurance Holdings Limited.
They will be supporting the reinsurance and insu…

ILS Bermuda continues to add to an impressive list of climate scientists for next month’s annual Convergence conference at the Hamilton Princess Hotel & Beach Club.
Kerry Emanuel, the meteorologis…

People often come into the new Flower Bar on Reid Street asking if the place is a flower shop or a bar.
There are flowers in a fridge on one side, and a long white bar top running down the other, with…

Bermudian-based Golden Ocean Group Ltd, the world’s largest listed owner of large size dry bulk vessels, has reported second quarter net income of $62.5 million.
That compares with net income of $65.4…

The world’s leading global brokers – Aon and Marsh McLennan – have urged the insurance and reinsurance industries to build upon their capital, expertise and historical roles to help Ukraine’s resilien…

Acrisure Re, which has operations in Bermuda, has bolstered the leadership of its international reinsurance division with the appointment of industry veterans David Sowery and Nigel Dane.
Acrisure Re …

Captive insurance company owners will gain insight into the impact of the Bermuda Corporate Income Tax at this week’s Bermuda Captive Conference which begins tomorrow at Pier 6 in Hamilton.
Innovative…

As the elderly population continues to rise, family members are frequently stepping in to help manage relatives’ finances, especially when the elderly person faces cognitive or health issues.
Althoug…

Dear Dave,
Do you think it’s a good idea for a small business, one that’s very young but growing, to seek out investors?
– Trey

Dear Trey,
My advice to someone in this position is to grow their busin…

Aon, the global broking group, has expanded its reinsurance platform in Bermuda with the appointment of five new team members.
Jemma Henry and Lawrence Cheng have been appointed as managing directors,…

Brit Ltd, which has operations in Bermuda, has reported profit before tax from continuing operations of $362.4 million in the first half of the year.
That compares with profit before tax of $300 milli…

BermudAir has launched an Unlimited Flight Pass, offering frequent travellers unlimited travel on all BermudAir routes for three months.
Available exclusively through BermudAir’s official website, the…

After 14 years running her own dental practice in Bermuda, dentist Kianna Simmons is leaving.
The Bermudian moved her family to Tennessee three years ago, and has been attempting to sell Kerin Oral Ca…

Divorce is a challenging experience, laden with emotional and financial concerns. Many individuals worry about the costs — both emotional and financial — associated with the divorce process. However, …

Fitch Ratings has revised its global reinsurance sector outlook from “improving” to “neutral”, believing the pricing cycle has most likely passed its peak.
In a webinar on the global reinsurance outlo…

Lloyd’s has reported its best first-half underwriting result in 17 years as it posted an overall profit before tax of £4.9 billion, or approximately $6.45 billion, in the first half of the year.
That …

Moody’s Corporation has acquired Praedicat, the California-based provider of casualty insurance analytics.
The company said the acquisition adds comprehensive casualty and liability modelling to Moody…

Bermudian-based Enstar Group Ltd has announced the expiration of the 35-day “go-shop” period as provided for in the definitive merger agreement that will see Sixth Street, the global investment firm, …

Some 400 delegates are expected to attend the 20th anniversary event of the Bermuda Captive Conference next week at the Pier Six complex in Hamilton.
The 2024 conference, organised by the Bermuda Capt…

The Bermudian-run Ubersoca Cruise, a Caribbean music festival at sea, has been named the Best Cruise Event of the Year at the Caribbean Music Awards in New York.
The cruise exploring destinations such…

A top realtor has claimed that the Government is putting Bermudians in legal jeopardy by failing to resolve an international driving dilemma.
Over the past decade, Bermudians have reported difficulty …