Business

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

An active catastrophe quarter and volatile market conditions drove a net operating loss of $205 million and a net loss of $319 million in the third quarter for Everest Re Group Ltd.
That compares with…

Bermudian Tyler Owen is to rejoin the Bermuda professional lines team at Axa XL as SVP, product line leader, the company announced.
Mr Owen, whose appointment is effective on Monday, will report to Ax…

After a three-year hiatus, Gary Harris will be back at Appleby Bermuda on Monday, as an insurance partner.
Mr Harris joins Appleby from Fortitude Re where he was head of legal and compliance in Bermud…

Arch Capital Group Ltd booked a $550 million net loss from catastrophes, but still managed to report net income available to common shareholders of $6.9 million in the third quarter.
That result compa…

Axis Capital Holdings Limited has reported a net loss attributable to common shareholders of $17 million and operating income of $3 million in the third quarter.
That compares with net income of $47 m…

The Washington Mall’s 50th anniversary on November 3 feels particularly poignant to the building’s longest-running tenants who have made it through Covid-19 – one of the worst retailing periods in Be…

The Bermuda Stock Exchange ended unchanged today at 2439.64.
Meanwhile, Butterfield fell 9 cents (0.26 per cent) to $34.60 at close of day trading on the New York Stock Exchange.

There are digital assets coming in the future that could make life easier for the ordinary citizen by lowering mortgage rates, and making it easier to start a business.
That was the message from David…

Vesttoo Ltd, a technology-driven global insurance risk transfer platform with a collateralised insurer in Bermuda, has concluded an $80 million Series C financing round.
It was co-led by Mouro Capital…

Cyber-risk modelling company DeNexus is on the hunt for someone local to run their new office in Bermuda.
DeNexus founder and chief executive officer, José Seara, told The Royal Gazette he has hired a…

Peter B Migliorato, a retired partner of Deloitte Consulting, has been elected to the board of directors of James River Group Holdings Ltd, the Bermudian-based insurance holding company.
Mr Migliorato…

Nabors Industries Ltd, the Bermudian-based energy driller, has reported its third quarter operating revenues jumped by 10 per cent and the company cut its quarterly loss to $14 million in the period. …

Carnival Holdings (Bermuda) Limited, a subsidiary of Carnival Corporation & plc, has closed its private offering of $2.03 billion of senior priority notes due 2028.
The company said it expects to …

The Bermuda Stock Exchange ended with the RG/BSX Index down 53.63 points (2.15 per cent) at 2439.63.
The Bank of N.T. Butterfield & Son Limited concluded with a $1 decrease in the price (-2.9 per …

Bermudian-based West Hamilton Holdings Limited, the BSX-listed property holding company, has a new major shareholder.
The change comes after a transaction between Somers Limited, a financial services …

Banyan Risk Ltd, a Bermudian-based managing general agent that specialises in writing directors and officers’ insurance, has teamed up with SPAC-focused financial advisory firm Zukin Certification Ser…

Enzuri Beauty, the Bermudian luxury skincare company, has been selected to join the US-based beauty company, thirteen lune.
The American organisation is an e-commerce operation that features and promo…

An environmental campaign group has named 21 companies as “champions” in the campaign to remove single-use plastics from their operations.

Beyond Plastic Bermuda has launched the programme design…

Graphic designer and digital creative, Karee Luna, is launching her first Undadewave event, What the NFT?, a panel discussion designed to educate Bermuda on non-fungible tokens.
Ms Luna was working on…

The Customs department has introduced a new feature to improve transparency around importing goods to the island using its automated processing system.
Going forward, the department said, it will emai…

When Gwendolyn Atcheson came up with the idea for a waste management business in Bermuda, women were virtually taboo in the industry.
So she and her husband, David Atcheson, named the business after h…

US life insurers cede more than a half a trillion dollars in annual premiums to Bermuda’s long-term reinsurers, and a new study claims it has become a source of industry concern.
In fact, Bermuda was …

An entrepreneur who left behind a desk job as a corporate lawyer to create booking software for the United States’ 109,000 barbershops is among the featured speakers at InspireCon 2022 next week in Be…

The signature event of Bermuda Tech Week kicks off on Wednesday with a keynote “fireside chat” between David Burt, the Premier and Minister of Finance, and Michael Casey, chief content officer of info…

The Police and Fire Retirement System for the City of Detroit late last week filed a class-action lawsuit against Argo Group International Holdings Inc, the Bermuda international underwriter of proper…

The Mid Ocean Club has again achieved gold level accreditation standard and has been nominated for three awards by Investors in People.
IIP is a global organisation that advises and conducts assessmen…

Bermuda Tech Week positions the island as a key player in the tech revolution, a leading member of the island’s entrepreneurial community has said.
Presented by the Bermuda Business Development Agency…

A company related to Bermuda energy mutual, Everen, has maintained its strong credit ratings with AM Best.
The agency has affirmed the financial strength rating of A- (Excellent) and the long-term iss…

This article originally written in fall 2017. It has been revised and updated with current information.

These days the truth is in short supply. What is truth?
Is it those mundane facts of conseq…

Dear Dave,
I need help. I am way behind on my basic utilities and my taxes. I have tried to start the Baby Steps, but everything is so overwhelming right now that it is easy to get discouraged. I am 3…

The RG/BSX Index moved up 58.71 points (2.35 per cent) to end the week at 2,493.27.
The only activity on the Bermuda Stock Exchange Friday involved West Hamilton Holdings Ltd. which concluded with a 5…

Axis Capital Holdings Limited expects to report a small operating income for the third quarter of 2022.
The Bermudian-based global specialty re/insurer said its results are impacted by a pre-tax net l…

The aircraft management company based in St George’s, Longtail Aviation, has acquired its first B757-200PCF aircraft, according to ch-aviation, the Swiss-based airline intelligence provider.
The publi…

24 Exchange, the multi-asset class trading platform, has joined the partner network of Talos, the provider of institutional digital asset trading technology.
Through the addition of 24 Exchange, Talos…

Palomar Holdings Inc, the parent company of island-based Palomar Specialty Reinsurance Company Bermuda Ltd, has announced estimated pre-tax catastrophe losses of $12.5 million, net of reinsurance, for…

Climate change will have widespread societal consequences, a leading reinsurance executive has said.
Kevin O’Donnell, president and chief executive officer of Bermudian-based global re/insurer Renaiss…

Bermuda is taking a “huge reputational risk” for what is likely to be little reward by encouraging crypto companies to come to the island, according to a tech expert.
Martin Walker, banking and financ…

The Bermuda Monetary Authority is seeking feedback from stakeholders on the proposed amendments to the Digital Asset Business Act 2018: Code of Practice and Digital Asset Business (Client Disclosure) …

Butterfield Bank’s share price slumped $1.22 (3.47 per cent) to $33.98 Thursday on the New York Stock Exchange.
The RG/BSX Index closed unchanged for the second day in a row at 2,492.47, with no tradi…