Business

Shareholders of Bermudian-based R&Q Insurance Holdings Ltd have voted against resolutions brought by activist investors seeking to remove William Spiegel as a director and to appoint Ken Randall.
…

Grainne Richmond has joined the Bermuda office of Aon as executive vice-president, head of captives.
She joins from Strategic Risk Solutions, where she served as a vice-president.
Ms Richmond was prev…

Apex Group Ltd, the Bermudian-based global financial services provider, has expanded its presence in the Nordics region with the launch of new services delivered from its office in Sweden.
The company…

Evertas, the American crypto asset insurer with an island-based subsidiary licensed by the Bermuda Monetary Authority, has added Australia and Hong Kong to the growing list of countries where it has t…

Bermudian-headquartered Altamira Therapeutics Ltd has reached its extended enrolment target of 160 confirmed subjects in its Covamid clinical investigation to evaluate the safety, tolerability, and ef…

Bermudian accountants and their global partners at one of the ‘Big Four’ accountancy firms will soon vote over a proposal for a strategic break-up.
The move by EY may mean new directions for the audit…

Captives are playing an increasing role due to the evolving nature of the reinsurance market, a panellist told attendees at the 18th Bermuda Captive Conference.
Nicolas Plianthos, senior vice-presiden…

Bermuda has an important presence at the 64th edition of Rendez-Vous de Septembre in Monte Carlo this week, the first opportunity for the world’s major insurers and reinsurers to gather en masse in a …

The RG/BSX Index remained unchanged at 2,392.77 in the absence of any activity on the domestic board of the Bermuda Stock Exchange, for the second consecutive day.
The Bank of N.T. Butterfield & S…

A trio of international business organisations has released a survey to gauge the validity of their annual ‘international business is everybody’s business’ campaign.
The awareness campaign has been r…

The government has confirmed a continuing working brief, keeping track of developments on international tax considerations that could force the island’s largest multinationals to pay a global minimum …

Entrepreneurship 101, the education course hosted by the Bermuda Economic Development Corporation, returns to in-person delivery and organisers have slashed the cost to just $180 to ensure cash-strapp…

Klaus Sapelza has been appointed chief underwriting officer and Mario Spescha has been named chief operations officer at Bermudian-based Lumen Re.
Both were formerly part of the ILS team at LGT Capita…

Envelop Risk, the global specialty cyber underwriting firm, has launched Bermudian-based Envelop Capital Markets, a practice led by veteran underwriter and ILS specialist David Ross.
The company said …

Asta, the third-party managing agent at Lloyd’s, and Bermudian-based Catalina Group, a global provider of retrospective reinsurance and capital solutions, have announced that Lloyd’s have granted “in …

Apex Group Ltd, the Bermudian-based global financial services provider, has continued its growth in New Zealand with the acquisition of Implemented Investment Holdings Limited, the parent company of I…

Captives are playing an increasing role due to the evolving nature of the reinsurance market, a panellist told attendees at the 18th Bermuda Captive Conference.
Nicolas Plianthos, senior vice-presiden…

The Bank of NT Butterfield and Son Ltd, will shut down the bank accounts of the Bermuda Financial Network on Thursday, in effect putting the 26 year old company out of business.
It will mean the end o…

The new Salt Yoga studio is about to kick off its first round of beginners vinyasa yoga classes.
“Back to school and the new year are always popular times of the year for beginner yoga series to run,”…

The RG/BSX Index remained unchanged at 2,392.77 in the absence of any activity on the domestic board of the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited was up 56 cents (1.68…

HSCM Bermuda has promoted Rachel Bardon to deputy chief investment officer, and Gokul Sudarsana to chief actuary.
Ms Bardon joined HSCM in 2016 as the firm was being formed. Since joining she has been…

Growth in global insurance, and the subsequent naturally occurring expiry or capital exit are reasons for an increase in the global non-life run-off market.
Estimated liabilities rose 11 per cent to $…

The Bermuda Monetary Authority has confirmed the registration of nine insurers in August, taking this year’s number of new registrants to 52.
The BMA approved two restricted special purpose insurers –…

Leila Stansfield is to lead Bacardi’s global travel retail business, effective January 2023, when she will become the first female lead for the division.
She will succeed current managing director, Vi…

Rene Lamer has been appointed as head of reinsurance, Bermuda at IQUW, the property and specialty re/insurer.
Mr Lamer joined the IQUW Bermuda team last November.
The company said IQUW is able to writ…

MS Amlin AG, the Switzerland-domiciled global reinsurer with an underwriting office in Bermuda, has announced its rebrand to MS Reinsurance, An MS Amlin AG Company.
The name change, which will occur t…

BMS Re, the specialty reinsurance broker, has appointed Chris McDowell as CEO of BMS Re Bermuda.
The appointment is effective November 26, following completion of his notice period and any requisite …

The reinvention of Bermudian-based Argo Group International Holdings Ltd appears a long way from being complete.
The company published an investor presentation, providing an update regarding its ongoi…

Bermuda’s reinsurance executives and their global colleagues are in Monte Carlo this week for the sector’s largest annual meeting, Rendez-Vous de Septembre, commonly referred to as the Reinsurance Ren…

Bermuda’s largest reinsurers could get a tax break from government, it has emerged.
Rating agency analysts have been told a corporate tax break may be a way of mitigating the effects of a proposed int…

Some clients at the new Inksmith Tattoo Studio carefully plan out every aspect of their tattoo. Often their chosen body art has a deep meaning, the commemoration of the birth of a child, or a marriage…

After substantial investment over the last 12 months, unanticipated delays and additional work may also require further funding before a new restaurant can open on Middle Road, Devonshire.
Staff recru…

Earnings at Watlington Waterworks Limited for the first six months of the year were up 15 per cent compared to the same period a year ago as gross revenues increased by 14.5 per cent.
The results were…

Money market mutual funds’ interest rates of return will continue to climb – based upon aggressive interest rate increases by the United States Federal Reserve and concomitantly by other global centra…

Dear Dave,
My wife and I just bought a new home, and we only need one or two more things to furnish the living room. Over the weekend, we found a couch and love seat set we both like for $3,000. The o…

The RG/BSX Index fell 8.34 points (0.35 per cent) to close at 2,392.77 for the day as 53,350 shares of Argus Group Holdings Ltd. changed hands, leaving the price down 35 cents (5.5 per cent) at $6 a s…

Cyril Whitter has been honoured as the recipient of the 2022 Fred Reiss Lifetime Achievement Award for his outstanding commitment and contribution to Bermuda’s captive insurance industry.
The announce…

Everest Reinsurance, the reinsurance division of Bermudian-based Everest Re Group Ltd, has announced that Catherine Rudow will join the company as global head of cyber reinsurance.
She will report to …

Rising interest rates have negatively impacted the half-year results of Lloyd’s, which has reported an overall loss of £1.8 billion (HY 2021: £1.4 billion profit) driven by a net investment loss of £3…

Integral ILS Ltd, the Bermudian-based independent insurance-linked securities fund manager, has appointed Gowtham Uthayakumar as client relations associate within its professional team.
Mr Uthayakumar…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based Maxseguros EPM Ltd.
The ratings recognise the importa…

Industry veteran Nick Pritchard has been appointed managing director, property retro, Bermuda at Aon.
Mr Pritchard joins from Vantage Risk where he was SVP, head of property catastrophe.
He previously…