Royal Gazette

A Bermuda market veteran with an expertise in claims has cofounded Elysian, a new insurance company based in Nashville, Tennessee.
Grace Hanson held claims leadership roles at AIG and Allied World Ass…

Two insurance firms are to combine under a newly formed Bermuda company.
Bermudian-based holding company Maiden Holdings Ltd and US-based Kestrel Group LLC today announced that they have entered into …

A Bermudian-based company has been hit with civil penalties totalling $600,000 for failing to fully comply with financial regulations.
In a statement released today the Bermuda Monetary Authority said…

The Bermuda Captive Network is to present an education summit for the industry next month at the Bermuda Underwater Exploration Institute.
Registration for the afternoon event on January 21 is to open…

There was a strong reinsurer appetite for property catastrophe reinsurance at the January 1 renewals, according to global risk and reinsurance specialist, Guy Carpenter
The Marsh McLennan company said…

A respected, scholarly publication has claimed that a third of the Bermuda population lives in poverty on an island that is a hidden playground for conglomerates, governments and the ultra-wealthy.
Th…

The Government is seeking proposals for the construction of a new seawall in an area at risk for flooding.
Prominent businessman Ed Faries, vice-president, sales and service at Tops Ltd on Mill Creek …

Tether, the stablecoin company, has made a venture capital fund investment into a Bermudian-based technology fund.
Arcanum Capital ISA announced that Tether has made the investment into Arcanum Emergi…

A subsidiary of Bermudian-based Fidelis Insurance Holdings Ltd has successfully closed a new catastrophe bond through the issuance of notes by its Herbie Re Ltd programme.
Fidelis Insurance Bermuda Lt…

Bermudian-based Hiscox Group has appointed Frank Lamantia as chief technology officer in the United States.
Mr Lamantia, who takes on the new role on January 21, will report to Mary Boyd, chief execut…

Olivia Brindle has left Bermuda’s The Fidelis Partnership to join Canopius Group, the global insurer and reinsurer with operations in Bermuda, as head of Sustainability.
Ms Brindle will report to Lind…

I recently had dinner with a friend who shared her financial struggles with me. At first, it seemed surprising – she has a well-paying job, and her spouse is equally successful in their career. But a…

Dear Dave,
Do you have any advice for sticking with your goals and new year’s resolutions? I always have great things in mind to shoot for in December, but then they always seem to fall by the wayside…

The Bermuda Monetary Authority proposes to publicly disclose the assets and liabilities of the island’s long-term commercial insurers registered in Classes C, D and E.
The financial services regulator…

Business owner Claire Smith had a problem with rum cakes on the island – not enough rum.
On December 3 she launched her own line of the alcohol-soaked confections at her store, the Bermuda Triangle Sh…

Healthcare stocks have significantly lagged the broader market over the past year, leading some investors to question their future. Despite strong tailwinds from an ageing population in developed econ…

Enstar Group Ltd, the Bermudian-based insurer, has completed the previously announced transaction between Cavello Bay Reinsurance Ltd, its wholly owned subsidiary, and certain subsidiaries of island-h…

The common shares of Altamira Therapeutics Ltd, the Bermudian-headquartered biotechnology company, have been de-listed from Nasdaq for failure to comply with the exchange’s rule that listed securities…

Bermudian-based Axa XL has appointed Jon Tellekamp as chief underwriting officer, construction and energy.
In his new role, he will lead Axa XL’s combined construction and energy underwriting and risk…

Acrisure, the global fintech firm with offices on the island, has announced the appointment of Bermuda market veteran Martin Reith.
He will be based in London, working with senior leadership across se…

A Bermudian-based company has played a role in RiverStone International’s multi-faceted deal with Zurich.
RiverStone International has signed an agreement with the French branch of Zurich Insurance Eu…

Shareholders in Argus Group and BF&M Ltd have cleared the way for the amalgamation of the companies into a domestic insurance powerhouse.
Argus shareholders approved the amalgamation deal, first a…

Despite falling stock value, a Warwick Academy team remains in the lead for the second round of the KPMG Senior School Investment Challenge.
Warwick Academy’s The Moral Hazards team stock decreased by…

Shareholders in Argus Group and BF&M Ltd have cleared the way for the amalgamation of the companies into a domestic insurance powerhouse.
Argus shareholders approved the amalgamation deal, first a…

Hamilton Princess and Beach Club has been included on the 2024 Top 25 Historic Hotels Worldwide Holiday Traditions and Spectacular Display listing.
HHW, which represents more than 350 hotels in nearly…

After eight years of percolation, the Personal Information Protection Act 2016 comes into effect on January 1, carrying fines of up to $250,000 for violators.
The Privacy Commission says stay calm.
“I…

While cassava pie and turkey with all the trimmings make for an appetising Christmas dinner table, what’s under the tree can sometimes make a more lasting impression.
This festive season, say Bermuda’…

‘Twas the market before Christmas,
And let us not ignore,
The major events of 2024.

The economy was stirring and continued to grow,
And unemployment thankfully remained quite low.
The Fed cut rates f…

I don’t know how you grew up, but when I was young, we did not get a lot of Christmas presents. Perhaps this was because my parents did not have oodles of money; perhaps it was because they had four c…

Dear Dave,
I have a question about money and marriage. My wife and I have been married for two years, and we both have good jobs. Together, we bring home around $190,000 combined. We also have $100,00…

The RG/BSX Index closed today up 0.55 points (0.02 per cent) at 2,514.56.
One hundred shares in Bermuda Aviation Services Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $1.75, up…

AM Best has upgraded the financial strength rating to A+ (Superior) from A (Excellent) and the long-term issuer credit rating to “aa-” (Superior) from “a” (Excellent) of Bermudian-based Legal & Ge…

The Lloyd’s Market Association has appointed Joe Brace as operations director, effective in the spring of 2025.
He will report to Sheila Cameron, chief executive of the LMA.
All 55 Lloyd’s managing ag…

The shareholders of Catco Reinsurance Opportunities Fund Ltd approved the voluntary winding up of the company at a special general meeting held on Wednesday.
In a filing with the Bermuda Stock Exchang…

The president of the Bermuda Chamber of Commerce is urging local shoppers to remember stores in the East and West while making holiday purchases.
“It is extremely important for Bermudians to shop loc…

The Government must prioritise a budget that drives growth for local businesses, the president of the Chamber of Commerce said.
Marico Thomas was commenting after the Premier delivered a pre-Budget re…

Staff from reinsurance firm RenaissanceRe volunteered to help plant more than 50 native and endemic species at the largest micro forest site to date on the Bermuda College campus.
A post on the Bermu…

A Bermudian-based fully regulated digital marketplace for insurance risk has adopted new modelling to enhance its analytics capabilities.

CatX Limited has teamed up with Extreme Event Solutions gr…

A free foundational insurance course will launch next month with a round table discussion on the impact of international business in Bermuda.
The Association of Bermuda Insurers and Reinsurers recentl…

Employees of BermudAir have completed specialised autism awareness and sensitivity training, the airline has announced.
BermudAir has been certified by Autism Double-Checked, a Connecticut-headquarter…

The Bermuda International Long-Term Insurers and Reinsurers organisation has joined the 2025 Bermuda Risk Summit as a platinum sponsor.
The group joins title sponsors, the Association of Bermuda Insur…

Darag Group, the legacy acquirer with a focus on the European market, has completed the sale of its North American and Bermuda business entities to the RiverStone Group.
Completion of the deal, first …

A near $100 million Warwick hotel project is coming to completion, without incurring a mountain of debt.
Azura Hotel developer John Bush told The Royal Gazette the opening of their Surf Restaurant on …

Two Bermudians have taken a step up the underwriting ladder, thanks to a Markel training programme.
Andrew Haye and Jordan Outerbridge have been promoted to associate underwriters at the insurer, afte…

Wafra Inc, the New York-based global alternative asset manager with an office in Bermuda, has completed the acquisition of the Aquila Air Capital platform from Warburg Pincus, the global private equit…

The Ardonagh Group, the global insurance broker with operations in Bermuda, has announced an equity investment from funds managed by US-based private equity firm Stone Point Capital LLC that values it…

Seadrill Ltd, the Bermudian-based offshore drilling company, has added nearly $1 billion to its order backlog after agreeing two contracts with Petrobas, the state-owned Brazilian multinational.
The c…

The Bermuda Monetary Authority confirmed the registration of seven new insurers in November, taking the yearly total to 50.
The island’s financial services regulator has also registered ten intermedia…

Bermudian-based Maiden Holdings Ltd has agreed to sell its Swedish subsidiaries, Maiden General and Maiden Life.
Maiden said the buyers were “an expanding group of international insurance and reinsura…

AM Best has affirmed the credit ratings of Bermudian-based Transmonde Services Insurance Company Ltd, the Class 3 insurer licensed and regulated by the Bermuda Monetary Authority.
The agency affirmed …