Business

Net income attributable to Aon shareholders decreased 25 per cent to $343 million compared with $456 million in the prior year in the latest third-quarter figures released by the company.
Adjusted ne…

Bermudian-based Arch Capital Group Ltd has been named the fastest-growing firm among the world’s largest property and casualty insurers, according to S&P Global Market Intelligence.
Its gross prem…

Convex Group Ltd, the Bermudian-based international specialty insurer and reinsurer, has selected EXL, the New York-headquartered data analytics and digital operations and solutions company, for a mul…

Apex Group, the Bermudian-based global financial solutions company, has become an official partner of the United States SailGP team.
The team’s other partners include Tommy Hilfiger, T-Mobile and Red …

The topic of inheritance is a tricky one. Some people feel they are owed it, whereas others feel like they earned it. But the key question I’m interested in here is: what are some of the inherent risk…

Dear Dave,
My husband and I began your plan a few months ago.
We love the process of living on a budget, and how it has helped us gain control of our finances.
Our kids are 14 and 13 now. Do you think…

Island-based airline, BermudAir, has launched a new holiday package aimed at golfers.
According to the company the new golf packages “further enhance the already diverse selection of vacation experien…

The deadline for providing comment as part of the consultation process for the island’s Integrated Resource Plan has been extended until October 31.
The original deadline date was September 30.
The IR…

Pharmacist cousins Donna Pearman and Aleathea Rabain started People’s Pharmacy believing that the community was not being well served by existing shops.
Exactly 40 years later, the Victoria Street lo…

Lloyd’s has announced a pioneering disaster resilience vehicle with the United Nations Capital Development Fund to deliver disaster-risk financing to small-island developing states in the Pacific.
The…

The Cayman Islands and Senegal have been invited to the table for discussions of the Financial Action Task Force, the global money-laundering and terrorist-financing watchdog.
The two countries have b…

This weekend’s Bermuda Gombey Festival is to be celebrated with a line of Gombey art themed products by entrepreneur Demeka Tacklyn, also known as Tiny T.
She will unveil the full line during the annu…

The use of artificial intelligence to transform businesses was a key topic of discussion as nearly 100 entrepreneurs, community leaders, and sponsors attended the Re-Ignite 2024 Conference at Hamilton…

Eight finalists are to compete for five spots that could win them up to $25,000 at the 2024 Wave of Opportunity pitch competition presented by Global Atlantic Financial Group, the insurance company, i…

Stevedoring Services Bermuda Ltd has been given special recognition for its outstanding performance as a port operator at the 54th annual meeting, conference and exhibition of the Caribbean Shipping A…

Michael Woodroffe, president and cofounder of Bermuda captive reinsurance broker Kirkway International, has been voted the individual Reinsurance Broker of the Year by readers of Captive International…

A Spanish engineering and consulting firm has determined that onshore solar is the most economically attractive source of electricity generation for Bermuda.
But there was a caveat.
Onshore solar powe…

Butterfield Bank continues to scan the market for possible acquisitions — but only in jurisdictions where the Bermudian-based bank feels comfortable doing business.
Speaking on an earnings call with a…

Teneo, the global CEO advisory firm with operations in Bermuda, has appointed Brian Glasgow, David Collins and David Holukoff to key senior positions, expanding its financial advisory presence into th…

Nabors Industries Ltd, the Bermudian-domiciled energy technology company, has reported a third quarter net loss attributable to Nabors shareholders of $56 million.
That compares with a net loss of $32…

The MarketPlace grocery store chain plans to significantly expand a leadership programme that has already benefited more than 80 Bermudian employees.
Launched in 2021, the Pathways to Leadership Progr…

Butterfield Bank has reported net income for the third quarter of 2024 of $52.7 million, or $1.16 per diluted common share.
That compares with net income of $50.6 million, or $1.09 per diluted common …

Butterfield Bank has reported net income for the third quarter of 2024 of $52.7 million, or $1.16 per diluted common share.
That compares with net income of $50.6 million, or $1.09 per diluted common …

Resolution Re, the Bermudian-based life insurer and reinsurer, has appointed Tanika Williams to the post of vice-president, head of Human Resources.
Ms Williams joins from Artex Risk Solutions, where …

Bermuda market veteran Andrew Vaucrosson has joined the Bermuda Stock Exchange as its head of Policy and Risk.
Mr Vaucrosson, who took up the post this month, has vast experience in the corporate sect…

Burrows Lightbourn, the beverage distributor and retailer that has been in business for nearly 35 years, has announced the roll out of a rebrand that will take place over the coming months.
The compan…

A primary asset of a Bermuda investment holding company is selling its majority stake in the largest integrated port and maritime logistics operator in Brazil.
Ocean Wilsons subsidiary, OW Overseas (I…

Bermudian-based Axa XL has unveiled new cyber coverage to help businesses manage risks arising from developing their own generative artificial intelligence models.
Michael Colao, Axa XL’s global chief…

The Lloyd’s Market Association has appointed John Levett to the position of head of Regulatory Affairs.
He will report to Arabella Ramage, legal director of the LMA.
Mr Levett joined the LMA last Octo…

A spate of senior hires by the broking community in Bermuda reflects the development of the island’s insurance and reinsurance market, top executives have said.
A variety of brokers have been ramping …

The Regulatory Authority of Bermuda is within days of closing consultation on consumer protection rules — including whether people should get refunds for unplanned electricity outages.
As part of the …

Trott & Duncan Ltd has appointed Kemilah Swan as an associate in the firm’s Property and Estates Department.
The firm said Ms Swan has a wealth of experience and expertise, particularly in high-va…

Arch Insurance North America, which is part of Bermudian-based Arch Capital Group Ltd, has received PropertyCasualty360’s Insurance Luminaries Award for Technology Innovation.
The company said this re…

A subsidiary of Axa XL has announced an insurance agreement for 88 marine protected areas.

Axa Climate, an Axa Group entity, has renewed the parametric insurance coverage for 88 MPAs in the Philip…

AM Best has affirmed the credit ratings of Bermudian-based International General Insurance Holdings Ltd and its subsidiaries.
The credit ratings agency affirmed the financial strength rating of A (Exc…

Bermudian-based Axis Capital is to expand its use of Mea Platform’s generative artificial intelligence to deliver operational efficiencies while enhancing the speed and service that it provides to its…

The City of Hamilton’s residential real estate market is thriving with Coldwell Banker Bermuda Realty making several multimillion dollar sales in the past year.
That was revealed in a real estate mark…

Four companies with operations in Bermuda have contributed seed funding to back a non-profit organisation launched to empower at-risk communities to build climate resilience through effective insuranc…

Self-advocacy is a key skill entrepreneurs must learn if their business is going to thrive, according to the founder of a management consultancy firm.
Business owners must also demonstrate core leader…

Vantage Risk has been promoted to full membership in the Berne Union, the not-for-profit association that has represented the global export credit and investment insurance industry since 1934.
The com…

A partnership that plays a critical role in the development of a talent pipeline within the island’s insurance-linked securities industry is to continue in 2025.
Since 2017, ILS Bermuda has partnered …

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…