Royal Gazette

Ascot Group, the Bermudian-based re/insurer, is to back the US primary surplus lines cyber programme of San Francisco-headquartered Coalition, through Ascot Specialty Insurance Company.
Coalition said…

MoNique Stevens is more than an entrepreneur – she is a revenue generator for the island’s entrepreneurial community.
Ms Stevens is behind Bermuda Brand Box, which sells gift boxes containing a variet…

Women in Reinsurance, the professional organisation for women working in the reinsurance sector, is to hold the first event of its 2022 education series on Thursday – a panel focused on strategies for…

The RG/BSX Index closed at 2,492.03, up 26.82 (1.09 per cent), as Bank of N.T. Butterfield Ltd. closed 50 cents (1.4 per cent) higher at $35.50 on the Bermuda Stock Exchange. No other issues traded.
T…

The total assets of Bermuda’s banks shrunk 1.5 per cent or some $400,000 down to $26.8 billion in quarter four of 2021, when compared to the prior quarter.
And combined, the banks reported lower earni…

ILS Bermuda Ltd, which promotes economic development through the growth of insurance-linked securities and alternative risk transfer on the island, has appointed Jo Stanton as chairwoman of the ILS Be…

Mosaic Insurance, the Bermudian-based specialty insurer, has added Lloyd’s carrier Apollo to its consortia of industry partners, boosting the amount of syndicated capacity it can deploy for high-deman…

RenaissanceRe Holdings Ltd has announced the creation of Fontana Holdings L.P. and its subsidiaries, an innovative joint venture dedicated to writing casualty and specialty risks.
Fontana launched wit…

An approved political candidate for the parish of St George’s has backed small business leaders who have expressed concerns for the future prospects of small and medium sized companies – especially fo…

Ascot has promoted Justin Keith to chief underwriting officer, casualty/specialty in Bermuda. The promotion is subject to Bermuda immigration approval.
Mr Keith will oversee Ascot’s management liabili…

Small and medium-sized businesses are being overwhelmed by taxes and red tape which are putting their survival at risk, a leading entrepreneur said yesterday.
Jonathan Smith, CEO of The Origin Compan…

First adopted more than 35 years ago, the Bermuda Form has stood the test of time as an efficient means of resolving insurance disputes.
The latest endorsement arrived in the form of a recent panel di…

The RG/BSX Index closed unchanged at 2,465.21, with no trading on the Domestic board of the Bermuda Stock Exchange for the day.
The Bank of N.T. Butterfield & Son Limited fell 49 cents (1.37 per c…

The long term issuer credit ratings of Bermudian-headquartered Randall & Quilter Investment Holdings Ltd have been placed under review with developing implications by AM Best.
R&Q has a long-t…

AM Best said that credit ratings of Fortitude Reinsurance Company Ltd. and its affiliate, Fortitude International Reinsurance Ltd., remain unchanged following their March 31 announcements.
Fortitude h…

Hannah Ross of The Argus Group has been appointed to the board of directors at the Bermuda International Long Term Insurers and Reinsurers.
Ms Ross is chief strategy and capital officer at Argus, wher…

Bermudian commercial lawyer Duncan Card has joined the Bermuda office of international law firm Appleby as a partner.
Mr Card joins the firm from Bennett Jones, an internationally-recognised Canadian …

Mt Logan Re Ltd, the third party capital unit of Everest Re Group Ltd, has made two senior appointments.
Greg McBride has been named to the newly created position of global head of marketing and busin…

A serial entrepreneur with a 30-year track record, Marico Thomas, believes Bermuda is not open for business – at least not for people running smaller companies.
An investment group he leads is in the …

The Bermuda Reinsurance market won a measure of gratitude from one of the architects of a matrix for the financing of terrorism risks.
It came from outgoing CEO of Pool Re Julian Enoizi, a key figure …

Richard Winchell is to retire from the Association of Bermuda International Companies.
He was the first executive director of Abic and has served since the beginning in 2006.
Mr Winchell will formall…

Court House Squash & Wellness has launched an exclusive membership perks programme that offers discounts at a variety of businesses on the island.
The fitness facility, which has more than 1,000 m…

A new investment group, FoodHub, led by entrepreneur Marico Thomas, brings together a collection of restaurants and retail operations where customers can place and receive delivery orders, and, receiv…

Possibly 50 new jobs will come online when a new drive through restaurant opens at 95 Middle Road, Devonshire, the site of a former mini mart.
There is no confirmation yet who is behind the venture or…

A devastating war, with reported inhumane acts of rape, pillaging, capture, and killing of innocent civilians, rages on while supply shortages, escalating costs, vacillating capital markets and job ma…

April is Financial Literacy Month.

Financial literacy is the possession of skills that allows people to make smart decisions with their money. Although understanding stats and facts about money i…

The RG/BSX Index ended at 2,465.21, unchanged for the day with no movement on the domestic board of the Bermuda Stock Exchange.
For the week, the Index fell 100.53 (4.07 per cent), dragged down by The…

Sam Riihiluoma has been appointed to the position of counsel in the Bermuda office of international law firm Appleby.
Mr Riihiluoma works in the dispute resolution department of the firm.
Appleby also…

White Mountains Insurance Group Ltd has announced that HG Global Ltd has closed a $150 million, 10-year term loan credit facility with Hudson Structured Capital Management Ltd, conducting its re/insur…

Kevin O’Donnell, the president and CEO of Bermudian-based reinsurer RenaissanceRe, has accepted the role of chair of Climate Wise.
Acting in partnership with the University of Cambridge Institute for …

Top insurance executive Stephen Catlin points to the war in Ukraine as the biggest uncertainty facing international insurance.
He fears the potential for World War Three, should Nato get drawn into t…

Two lawyers working in the Bermuda office of international law firm Conyers have been promoted, one to partner/director and the other to counsel.
Robert Alexander becomes a director in the corporate t…

The RG/BSX Index fell 100.77 (3.93 per cent) to close at 2,465.21, as there were three losers out of the four issues trading on the Bermuda Stock Exchange.
Somers Limited closed at $19, up 99 cents (5…

Bermudian-based AK Jensen Group, the provider of turnkey trading and infrastructure solutions for fund managers, has closed the acquisition of FMG Malta Ltd, a full scope alternative investment fund m…

AM Best has assigned a financial strength rating of A+ (Superior) and a long-term issuer credit rating of “aa-” (Superior) to Bermudian-based Wilton Re Overseas Limited.
The outlook assigned to these …

Bermudian-based Kettle is among 11 start-ups selected for the eighth cohort of the Lloyd’s Lab insurtech accelerator programme.
The 10-week initiative brings together insurtechs, insurers, and brokers…

Chubb Bermuda will serve as lead sponsor of Bermuda’s delegation to the Risk & Insurance Management Society’s annual conference and the San Francisco Bay Area from April 11-14, the Bermuda Busines…

Bermudian-based Axis Capital Holdings Limited has appointed Fintan Mullarkey as CEO of Axis Specialty Europe SE, subject to regulatory approval.
ASE is Axis Capital’s specialty insurance legal entity …

Fortitude Re has announced the signing and closing of a $4 billion reinsurance transaction between its subsidiary, Bermudian-based Fortitude Reinsurance Company Ltd, and Taiyo Life Insurance Company, …

The Lloyd’s market has appointed Schroders Solutions as the investment partner of its new investment platform.
Lloyd’s said the open-architecture firm manages £150 billion of global assets for insuran…

Tomika Smith just loves to see other people in love.
“I just get a kick out of it,“ Ms Smith said.
But over the years she heard a lot of friends complaining that their partners just were not romantic…

Staff at Enstar insurance have donated $50,000 to Ukrainian relief, the majority of the contributions coming from Bermuda.
Enstar matched staff generosity with a $50,000 donation to the Red Cross’s Uk…

Credit Suisse Group has indicated that an appeal is coming after the Supreme Court decision that went against their Bermuda subsidiary, Credit Suisse Life (Bermuda).
But they are facing other client…

The RG/BSX Index adjusted modestly higher, up by 0.24 (0.01 per cent) closing at 2,565.98, after one issue traded.
Argus Group Holdings Ltd. closed a penny higher (0.2 per cent) at $6.11 on a volume o…

Bermudian-based Nabors Industries Ltd has added to its clean energy portfolio with an $8 million investment in GA Drilling, a.s., the geothermal technology company with headquarters in Bratislava, Slo…

Centaur Group, the Irish-headquartered global fund administration and fiduciary services provider with an office in Bermuda, is to become part of Waystone Group, an institutional provider of services …

Occam Underwriting, the London-based specialist lines focused managing general agency, has completed the acquisition of Beech Underwriting Agencies Limited having received the required approval from t…

Global Cloud Xchange, the Bermudian-based submarine cable network owner/operator, has expanded its partnership with digital infrastructure company Equinix.
GCX said the deal provides its customers wit…

Bermudian-based Oil Casualty Insurance Ltd has reported a net loss of $37 million for the year November 30, 2021.
Ocil is a Class 3B licensed insurer that provides various forms of coverage for a broa…