Royal Gazette

A wholly-owned subsidiary of Enstar Group Ltd, the Bermudian-based insurer, has reached an agreement to provide a ground-up loss portfolio transfer with certain subsidiaries of QBE Insurance Group Ltd…

AM Best has removed from under review with developing implications and affirmed the financial strength ratings of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of the Accr…

After a more than six-month closure, a North Shore, Hamilton Parish service station is back in business after a major refurbishment after storm damage a year ago.
The Crawl Hill Esso Tiger Market shut…

Polaris Holding Company Ltd is back in the black, reporting a net profit of $741,000 for the 2024 fiscal year ending March 31.
That is a turnaround from the prior fiscal year when a $1.1 million goodw…

Aspiring Bermudian lawyer Malcolm Hendrickson has been awarded the Carey Olsen Investing in People scholarship for 2024.
The scholarship was established four years ago to provide exceptional Bermudian…

Interns at a Bermuda insurer have had an “invaluable hands-on experience” with the firm and a chance to get a “comprehensive understanding of the insurance industry” this summer.
Allied World Bermuda …

Palomar Holdings Inc, the parent company of Palomar Specialty Reinsurance Company Bermuda Ltd, has announced the pricing of its underwritten public offering of common stock.
The 1.2 million shares of …

The Construction Association of Bermuda has awarded $16,000 in scholarships to three Bermudians to help them continue their education in construction-related fields.
Jaire Lawrence-Salaam is studying …

Hiscox Re & ILS has reported a first-half 2024 profit before tax of $86.5 million, a 57 per cent improvement on the 2023 figure of $55.1 million.
The division includes the group’s reinsurance busi…

Island airline, BermudAir, has started a new promotion offering customers a complimentary companion ticket.
Under the promotion, customers who book and complete a round-trip flight between now and Sep…

Bermudian-based RiverStone International has announced an agreement with QBE to provide a loss portfolio transfer reinsurance for various QBE subsidiaries, including their Lloyd’s syndicates.
The comp…

On an ever-changing streetscape in North East Hamilton, The New Universal Barber Shop has stood the test of time.
First launched as Stines Barber Shop more than 60 years ago, the business at 40 Court …

Valaris Ltd, the Bermudian-based offshore drilling services company, has been awarded a multiyear contract valued at nearly $500 million with Equinor Energy do Brasil Ltd, a subsidiary of Equinor ASA,…

A few years ago, I wrote an article on people who choose to retire outside the country in which they live. This is not only happening in Bermuda – a significant percentage of the global population are…

Dear Dave,
I was talking to some friends the other day about wills and trusts. They seemed to have a variety of opinions, so can you straighten things out for me? I don’t have a will or a trust, and m…

Two students have been recognised for their academic consistency and commitment to higher education with awards.
Zyon Minors and Ayr Cannonier have both received the Polaris Holding Company Ltd Educat…

Lancashire Holdings Ltd has appointed insurance industry veteran Linda Ventresca as a non-executive director.
The company said Ms Ventresca worked at Axis Capital from 2003 to 2023, most recently serv…

Lloyd’s has announced that ratings agency AM Best has revised its financial strength rating to A+ (superior) from A (excellent) and the long term issuer credit rating to ‘AA-’ (superior) outlook stabl…

Students taking a financial and insurance services signature course are being encouraged to sign up for a free business camp.
The Youth Entrepreneurship Initiative, in co-ordination with the Bermuda E…

Anthony Izzo has been appointed chief global broking officer to lead a new global broker management team at Bermudian-based Everest Group Ltd.
Mr Izzo assumes the position in addition to his role as h…

Losses from Tropical Storm Debby, which has claimed at least seven lives, are unlikely to affect reinsurers, according to Moody’s.
Debby made landfall near Steinhatchee, Florida, on Monday morning as …

The Government is planning a revamp of a jobs website to “better serve the evolving needs of both job seekers and employers”.

An RFP has been issued asking experienced web developers and design fi…

White Mountains Insurance Group Ltd, the financial services holding company domiciled in Bermuda, has reported a comprehensive loss attributable to common shareholders of $55 million in the second qua…

Bermudian-headquartered Hamilton Insurance Group Ltd reported an all-time low combined ratio as it announced second quarter net income of $131.1 million.
Gross premiums written were $603.3 million, an…

Twenty students have been awarded a total of $180,000 in Belco’s annual scholarship awards.
“On behalf of our entire team at Belco, congratulations to all the students who were successful in receiving…

Bermudian-based Lancashire Holdings Ltd delivered its best-ever half-year performance in the first six months of 2024, the company has reported.
It said profit after tax for the half-year was $200.8 m…

AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to Bermudian-based Martello Re Ltd.
The outlook assigned to these credit rat…

Twenty-five Bermudian students have received scholarships worth $750,000 to support their further education.
They were presented at a recent Association of Bermuda International Companies education aw…

Everest Insurance, the insurance division of Bermudian-based Everest Group Ltd, has appointed Stephen Buonpane to lead the company’s US Wholesale and Programs business.
He will report to Bill Hazelton…

Darag Group, the legacy acquirer with a focus on the European market, has agreed to sell, subject to regulatory approvals, its North American and Bermuda business entities to the RiverStone Group.
The…

A planned soft launch turned into a “run on the restaurant” as word got around the island that KFC had reopened, according to the franchise.
The Queen Street business closed at the beginning of the ye…

A subsidiary of Bermudian-based Arch Capital Group Ltd has completed a major deal.
Arch Insurance North America has closed the acquisition of the US MidCorp and Entertainment insurance businesses from…

Pine Walk Capital Ltd, the specialist managing general agent platform and wholly owned subsidiary of The Fidelis Partnership, has launched Novagen, a new renewables MGA in collaboration with Novagen C…

Everest Group Ltd has named industry veteran Bill Hazelton as executive vice-president of Everest Insurance and president of North America Insurance.
Mr Hazelton most recently served as head of US Ret…

Bermudian-registered International General Insurance Holdings Ltd has reported a dip in second quarter net income year-over-year.
IGI said net income for the quarter ended June 30 was $32.8 million, w…

James River Group Holdings Ltd has reported net income of $5 million in the second quarter of the year.
Net income from continuing operations available to common shareholders was $11.9 million.
Th…

The Bermudian-based Everen Group, a group of leading energy insurance companies, has appointed Robert Foskey as its new president and chief executive.
“I am honoured and excited to take on the role of…

SiriusPoint Ltd, the Bermudian-headquartered global specialty insurer and reinsurer, has reported net income available to common shareholders of $109.9 million in the second quarter of the year.
Core …

The credit ratings of StarStone Insurance Bermuda Ltd and its subsidiary, StarStone Insurance SE of Lichtenstein, are unchanged following the announcement that their parent company, Enstar Group Ltd, …

Record net investment income helped propel Bermudian-based Everest Group Ltd to deliver second quarter net income of $724 million.
The company reported $4.7 billion in gross written premium with year-…

Palomar Holdings Inc, the parent company of Palomar Specialty Reinsurance Company Bermuda Ltd, has reported second quarter net income of $25.7 million, a 46 per cent jump compared with the prior year …

Bermudian-based Axa XL has appointed Todd Wilhelm as the head of Specialty, Asia, and Guillaume Parard as the head of P & C, Asia.
In his new role, Mr Wilhelm will lead the Specialty team, which e…

BMS Group, the independent specialist insurance and reinsurance broker with an operation in Bermuda, has agreed to acquire David Roberts & Partners, the British-based independent insurance broker….

Total assets in Bermuda’s banking sector were up 1.3 per cent to $24.1 billion in the first quarter of the year, a report by the Bermuda Monetary Authority reveals.
However, the BMA’s quarterly bankin…

Paradise Mobile, the Bermudian-based telecommunications company, is the title sponsor of SailGP’s first pre-season training camp.
Beginning on August 25, Rockwool Denmark, Germany, United States and B…

Fifty-eight employees of Aircare Ltd have become certified in CPR/first aid, the company reported.
The training, held by Worksafe BDA, is offered to staff every two years to meet re-certification requ…

Retail sales volume in Bermuda increased by 4.7 per cent year-over-year in January, according to figures released today by the Ministry of Economy and Labour.
That figure was determined after adjustin…

Twenty-two-year-old Kwe Simmons and Tea-Tephi Pringle, her senior by one year, have something in common — both are passionate about realising their dreams.
They are interning at entrepreneurial accele…

Veteran industry executive Joe Boren has been named chairman of a new advisory board established by Mosaic Insurance to help guide the company’s strategic growth, particularly across North America.
Th…

Bermudian-based Talcott Financial Group, an international life insurance group, has announced a ground-breaking flow reinsurance transaction between its subsidiary, Talcott Life Re Ltd, and The Dai-ic…