Business

Axa XL Reinsurance has appointed Greg Schiffer as chief executive North America, Reinsurance.
Renaud Guidée, chief executive, Axa XL Reinsurance, said: “Our clients across North America rate highly th…

Dear Dave,
I just finished paying off all my consumer debt in Baby Step 2. It took a long time, but I finally did it. Now, it’s time to grow my $1,000 beginner emergency fund to a full-funded emergenc…

Chrysda Smith and Kaleb Phillips have joined the 12-month pupillage programme in the Bermuda office of Walkers.
They will spend six months with the firm’s corporate, finance, funds & insurance tea…

Moody’s RMS Event Response has updated its combined private market insured losses for Hurricanes Helene and Milton to between $30 billion and $50 billion, down from $35 billion to $55 billion.
The cre…

Artificial intelligence will be the focus of a tech conference hosted jointly by the Information Systems Audit and Control Association and Institute of Internal Audit Bermuda Chapter at the Royal Hami…

Criminals are fraudulently claiming to be operating a local company, Stillman Crypto Brazil, and claiming to be involved in sophisticated trading technology, the Bermuda Monetary Authority has warned….

Moody’s RMS Event Response has updated its combined private market insured losses for Hurricanes Helene and Milton, to between $30 billion and $50 billion, down from $35 billion to $55 billion.
The cr…

Digicel has once again been shortlisted at the World Communications Awards – this time in the social contribution category for the Digicel Jamaica Foundation’s work to assist the blind community.
WCA …

DeNexus, the Boston-based cyber risk management company with operations in Bermuda, has raised $17.5 million in a Series A funding round.
The company said the capital raise positions DeNexus to accele…

Apex Group Ltd, the Bermudian-headquartered global financial services provider, has expanded its presence in the Latin American market with the acquisition of Finix Group, the Chilean-based financial …

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Bermudian-based RVI Guaranty Co Ltd and its subsidiary, Delaware-bas…

Artificial intelligence will be the focus of a tech conference hosted jointly by the Information Systems Audit and Control Association and Institute of Internal Audit Bermuda Chapter at the Royal Hami…

Criminals are fraudulently claiming to be operating a local company, Stillman Crypto Brazil, and claiming to be involved in sophisticated trading technology, the Bermuda Monetary Authority has warned….

“Nasty” is how Colin Rego describes setting up a new grocery store in Bermuda.
“It was not the kindest of journeys,” said Mr Rego, founder of the Sargasso delivery app.
He and Carl Vincent, of the onl…

After a 2024 awareness campaign for the 2025 onset of the new privacy regime, officials are encouraging public feedback to the new, updated Financial Services and Personal Information Protection Act G…

Bermudian-based Everen Specialty Ltd has announced that Jerry Rivers, senior vice-president and chief operating officer, will retire on March 31, 2025.
John Talarico, Everen Specialty’s chairman, said…

Arch Capital Group Ltd held a private memorial event to honour and celebrate the life of former chief executive Dinos Iordanou on Monday in New York.
Highly regarded throughout the industry, Mr Iordan…

Bermuda market veteran Kevin Madigan has been appointed as head of Capital Management at Argo Group.
He will be based in New York.
Mr Madigan joins Argo from FTI Consulting, where he served as a senio…

The Bermuda Monetary Authority confirmed the registration of seven new insurers in September, taking the yearly total to 41.
The island’s financial services regulator has also registered ten intermedi…

Peak tourism season is not over in Bermuda, with cruise ships still arriving, but restaurateur Maz Shabdeen already feels the coming chill.
“We have already seen a drop in tourism,” he said. “It is ge…

Norwegian Cruise Line’s Norwegian
Prima will make its last visit to Dockyard next month.
In a letter to passengers scheduled to visit Bermuda on December 21, NCL wrote: “We recognise the importance…

David Perez, a veteran of the Bermuda market, has been appointed as president, Excess Casualty, to lead the launch and build out of a new offering by Houston-based Tokio Marine HCC.
Mr Perez will repo…

The local chapter of an international organisation that connects women in the shipping sector has celebrated the global group’s 50th anniversary and recommitted to the bold vision of Wista Internation…

Nabors Industries Ltd, the Bermudian-domiciled energy technology company, is to acquire Houston-based Parker Wellbore, which provides drilling services across global energy markets.
The companies said…

Karen Clark & Company estimates that the privately insured loss from Hurricane Milton will be close to $36 billion in the US from wind, storm surge and inland flooding.
The loss estimate is based …

Muuvment, the social impact company based in Bermuda, has launched Muuvment IQ, an expert-trained, generative artificial intelligence sustainability product.
The company said that it leveraged a rich,…

Flex LNG Ltd, the liquefied natural gas shipping company based in Bermuda, has announced that the aggregate $430 million of new financings announced in its second quarter report have been completed ac…

For years Madison Lusher helped her father, Stephen Lusher, run Designer & Vintage Market at 3 Queen Street in Hamilton.
Now, the two have sold off much of their antique stock and moved further up…

Liberty Corporate Capital Ltd, represented by Jane Warren, has been elected as a corporate external member of the Council of Lloyd’s.
The term of office, which is to begin on February 1, 2025, will be…

Arch Capital Group Ltd, a publicly listed Bermuda exempted company with approximately $23.4 billion in capital, has appointed Nicolas Papadopoulo as its new chief executive.
Mr Papadopoulo has held hi…

Price Forbes Re, an independent specialist risk strategy and reinsurance broker based in Bermuda, London and the US, has appointed Colin Kelley to the newly created role of chief commercial officer.
I…

Virginia Drosos is to retire as chief executive and as a member of the board of directors of Bermudian-based Signet Jewelers Ltd, the world’s largest retailer of diamond jewellery, effective November …

A real estate fraud was averted last week when a Bermuda realtor confirmed to a potential victim that she was about to be scammed.
Suspicious activity by the supposed owner of a rental property, and a…

Estimates from the Cayman Islands Labour Force Survey Spring 2024 indicate the unemployment rate (the proportion of unemployed persons to the total labour force) at 2.8 per cent.
The report from the E…

The Bermuda banking sector’s net profit after tax amounted to $130.8 million in the second quarter of the year, a 3 per cent or $4 million decline compared with the previous quarter, a report by the B…

Dear Dave,
I’m getting married next month, and my fiancé and I are both following your plan.
I’m on Baby Step 3. I make $65,000 a year and have $14,000 in my emergency fund. My fiancé made $90,000 a y…

Steve Weinstein, the chairman of the board of trustees at the Bermuda Institute of Ocean Sciences, has been appointed to the advisory council of ClimateTech Connect, the first-of-its-kind global confe…

Bermudian-based Axis Capital Holdings Ltd has announced leadership appointments for its Ireland-based legal entities, Axis Re SE and Axis Specialty Europe SE.
Both companies are regulated by the Centr…

A new pop-up store offering home organisation solutions has today opened in Hamilton.
The brainchild of Tony Thompson, the CEO of Gibbons Company, the new shop, called Contained, has opened in the old…

More than 100 people attended an open house to hear about an apprenticeship programme at Belco.
The event provided an information sharing session where anyone interested in the programme could learn m…

The Bermuda Stock Exchange was among 63 exchanges worldwide that participated in a ceremonial “Ring the Bell for Financial Literacy” event today as part of the World Federation of Exchanges’ support f…

Sometimes when the cruise ships are in, we don’t even know they are here, Dockyard business owners say.
Heidi Cowen, administrator of the Dockyard Arts Centre, believes Bermuda needs to re-evaluate it…

A Convergence 2024 audience has heard of plans by the State of Louisiana to affect a “reinsurance and an insurance renaissance in Louisiana”.
Tim Temple, the state insurance commissioner elected a yea…

AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb” (Good) of Bermudian-based Golden Tree Reinsurance Ltd.
The outlook of these credit rati…

Bermudian-based Axis Capital Holdings Ltd has appointed Sam Flitman as London head of Ceded Re, effective the first quarter of 2025.
Mr Flitman will report to Anne Kelly, Global head of Ceded Re at Ax…

The insured losses from Hurricane Milton could be $30 billion to $50 billion, Fitch Ratings has estimated, which would be the largest storm loss claims since Category 4 Hurricane Ian’s 2022 losses of …

Krystal Rodrigues and Lisamarie Masters have joined the partnership at Botelho Wood Architects.
Ms Rodrigues began at Botelho Wood as a student in 2004 when the firm was first established and returned…

Rakaya Simmons-Landy has been appointed the newest qualified litigation associate of Trott & Duncan Limited.
A statement from the firm said: “Ms Simmons-Landy, who demonstrated remarkable talent a…

The MarketPlace is rolling out electronic price tags for products on the shelf, beginning with the Harrington Hundreds store.
The grocery retailer said the tags represent “a significant step forward i…

Hurricane Milton will change the strategic future of the property catastrophe market, according to one ILS expert.
Chris McKeown, chief executive of reinsurance ILS and innovation at Vantage Risk, sa…