Royal Gazette

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…

AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to Bermudian-based Research Insurance Company Limited.
The outlook assigned …

Walkers Bermuda and The TLC Group, will be hosting a free webinar on data privacy next month.
The one-hour webinar, A Refresh: The Personal Information Protection Act 2016 will be held on November 8….

SiriusPoint Ltd, the global specialty re/insurer based in Bermuda, was among the participants in a $2.4 million seed extension funding round by LuckyTruck, the tech-enabled retail insurance agent focu…

Everest Re Group Ltd is estimating total pre-tax net catastrophe losses of $730 million for the third quarter.
Some $600 million is attributed to Hurricane Ian, which made landfall on the west coast o…

Strategic Risk Solutions, the world’s largest independent insurance company manager, has announced that Paul Gatutha has joined SRS Bermuda as a director in its Hamilton office.
The company said Mr Ga…

Bermudian-based RenaissanceRe Holdings Ltd has estimated that losses from certain 2022 catastrophe events will have a net negative impact of approximately $650 million on the company’s third quarter r…

Compre, the Bermudian-headquartered international legacy group, has agreed to acquire the Irish subsidiary of Covéa, Medical Insurance Company DAC, which provided general liability insurance covering …

Unsecured creditors of one of the island’s longest-established retail organisations were left completely out of pocket when the operation went under, one of the company’s joint provisional liquidators…

When Anayah Curtis launched her candy business, Sweeties, at age 15, she became the youngest vendor on the Sargasso delivery app.
A year later, Miss Curtis’s online shop is still going strong, sellin…

Butterfield Bank fell 40 cents (1.12 per cent) to $35.20 at the close, on the New York Stock Exchange Wednesday.
Meanwhile, the RG/BSX Index closed unchanged at 2,492.47 in the absence of trading.

Appleby partner Jerome Wilson will discuss the future of finance at the upcoming Bermuda Tech Week, focusing on banking institutions leaning into the digital asset market.
Mr Wilson, head of Appleby’s…

Arch Capital Group Ltd has estimated pre-tax net catastrophe losses of $530 million to $560 million across the property casualty insurance and reinsurance segments in the 2022 third quarter.
The Bermu…

Chubb has named Bill Hazelton as executive vice-president, head of North America Industry Practices.
In this newly created role, Mr Hazelton will lead the company’s efforts to enhance delivery of comp…

Industry veteran David Florian has been appointed chief executive officer at Aspida Life Re Ltd, the Bermudian-based life and annuity reinsurance company.
The company said Mr Florian is a seasoned rei…

Canopius Group, the global specialty re/insurer, has appointed Coleman V Johnson as chief underwriting officer, US and Bermuda.
Mr Johnson joins Canopius USA’s growing leadership team as the company c…

When Derek Myers opened his new salad restaurant, WildGreens Bermuda, this month, business was quiet.
“For the first two days, customers that came in were mainly people who knew us and knew that we ha…

The RG/BSX Index closed down 9.13 points (0.36 per cent) to 2,492.47 as one issue traded on the Bermuda Stock Exchange.
BFM Ltd fell $1 (4.5 per cent) to $21 on trading of 800 shares.
On the New York …

The joint provisional liquidators of a Bermudian-based tourism group have provided an update on the organisation’s business operations.
Bermudian-based Alex Whittaker, of R&H Services Limited in H…

Carnival Holdings (Bermuda) Limited, a subsidiary of Carnival Corporation & plc, has commenced a private offering of $1.25 billion of senior priority notes due 2028.
The notes will be fully and un…

Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, has appointed Oliver Brew in a new role as Cyber Practice Leader in London.
Keith Harris…

Capital unable to get significant returns from ILS investment could bolt for greener pastures, a Fitch Ratings assessment has determined.
The report says the fallout from Hurricane Ian could test the …

Apex Group Ltd, the Bermudian-based global financial services provider, has supported the launch of the not-for-profit Apex Foundation with a “considerable cornerstone donation” from company founder a…

Retirement might be a long way off for you, or it may be knocking on your door. Either way, your current self and your future self are inseparable; you cannot divorce or sack yourself; you are togethe…

The Bermuda Monetary Authority confirmed the registration of four insurers in September, taking this year’s number of new registrants to 56.
The BMA approved two class E insurers, AeBe ISA Ltd and Aga…

The RG/BSX Index rose 67.04 (2.75 per cent) to 2,501.60 as two issues traded on the Bermuda Stock Exchange.
West Hamilton Holdings Ltd was unchanged at $7.00 after 1,500 shares changed hands.
Bank of …

Entrepreneur Joe Vieira has bought QRS, the waste and refuse removal business, from Island Waste Management Ltd.
A new company, QRS Ltd, has been formed.
Mr Vieira has owned and operated Joe Vieira Tr…

Apex Group Ltd, the Bermudian-based global financial services provider, has supported the launch of the not-for-profit Apex Foundation with a “considerable cornerstone donation” from company founder a…

The Supreme Court of Bermuda has granted winding-up orders in respect of island-based Genting Hong Kong Limited and its indirect, non-wholly owned subsidiary Dream Cruises Holding Limited.
The orders …

Everest Insurance, the insurance division of Bermudian-based Everest Re Group Ltd, has expanded its European presence with the opening of branch offices in Paris and Düsseldorf.
Both are branches of E…

The Loren Hotel at Pink Beach in Tucker’s Town is preparing for an unusually busy autumn of occupancy, with management bullish on Bermuda’s future tourism success.
Tarryn Clark, the upbeat general man…

The reinsurance industry must develop more respect for its capital, a leading insurance executive told attendees at Convergence 2022, presented by ILS Bermuda.
Albert Benchimol, president and CEO of A…

Industry veteran Shawn Austin is to join Bermudian-based Everest Re Group Ltd as Senior Vice President, Head of Accident and Health for North America, effective October 24.
He will be based in New Yor…

The Regulatory Authority of Bermuda, the island’s electronic sector watchdog, has invited feedback from the public and other interested parties concerning proposed retail tariff policies for two initi…

This is the second part of the series about the anatomy of a mortgage contract. In part one, we coved the basics – the various kinds of mortgages, legal ownership, and some of the process.
Readers, pl…

Dear Dave,
I am getting older, and health issues over the last year have made me begin thinking about selling my small business. I have spoken with a couple of potential buyers recently, and one of th…

There was no activity on the Bermuda Stock Exchange on Friday, but the RG/BSX Index finished 51.40 points (2.11 per cent) higher for the week at 2,434.56.
The three issues trading – involving 2,060 sh…

Seven Bermuda College students awarded 2022 Athene Scholarships for this fall, were recently acknowledged at a reception held by Athene Holding Ltd. and subsidiary Athene Life Re Ltd.
The Athene Schol…

The fundamental question that risk modellers ask has changed dramatically over the years, a speaker told attendees yesterday at Convergence 2022, presented by ILS Bermuda.
Jay Guin, executive vice-pre…

The RG/BSX Index remained unchanged at 2,434.56 in the absence of trading Thursday on the Bermuda Stock Exchange.
In New York, The Bank of N.T. Butterfield & Son Limited rose sharply by $1.45 (4.3…

Coalition, the San Francisco-headquartered provider of cyber insurance and security, has announced the formation of Ferian Re, an independent Bermudian-based Class 3B reinsurer that will provide capac…

SiriusPoint Ltd, the global specialty re/insurer based in Bermuda, has appointed Steve Yendall as chief financial officer, effective October 31.
Mr Yendall, who has 25 years of re/insurance industry e…

The RG/BSX Index moved 1.76 points (0.07 per cent) higher to 2,434.56 at the close, as West Hamilton Holdings Ltd. climbed $1.10 (18.6 per cent) to $7.00 on a volume of 1,500.
Meanwhile, The Bank of N…

Asset managers globally are expected to increase their ESG-related assets under management to $33.9 trillion by 2026, up 84 per cent from $18.4 trillion in 2021, a new report by professional services …

A Bermudian-regulated global life insurance group has formed a strategic partnership with the world’s largest alternative asset manager.
Resolution Life and Blackstone said the partnership will suppor…

An annual technology summit is growing in its importance to Bermuda’s ambitions in the technology sector and strengthening her place as a centre for blockchain and fintech, a leading technology and in…