Royal Gazette

A year-old Bermudian consultancy specialising in helping businesses relocate to the island has already taken on close to a dozen international firms.
The company’s latest client is VIPR, a provider of…

Hannover Re is setting up a Bermudian-based insurance-linked securities platform, Hannover Re Capital Partners, as it looks to expand its ability to manage and deploy third-party capital, according to…

Ryan Specialty has announced the creation of Ryan Alternative Capital Re Ltd, a new collateralised reinsurance vehicle designed to provide additional capacity to Ryan Specialty Underwriting Managers’ …

A fintech company building what it calls the world’s first blockchain designed for Web3 payments has received key approvals to expand its global operations, including a Class F digital asset licence f…

American International Group is stepping up its use of artificial intelligence in underwriting and claims while keeping a heavy reliance on reinsurance, which its chief executive says will help protec…

IQUW Re Bermuda has announced the launch of mortgage, credit and cyber reinsurance lines, signalling the next stage of growth for the Bermudian-based reinsurer.
The move expands the company’s predomin…

CatX and Cactus are merging, creating the largest insurance software company operating from Bermuda.
The combined company will be Cactus Risk Studio, offering brokers, insurers, risk managers and inv…

Transparency International United Kingdom has proposed a way for the British Overseas Territories to “commit to ending corporate secrecy”.
The pressure group has published “comprehensive guidelines fo…

Gold Reserve Ltd has moved to set the record straight in the high-stakes Citgo sale, arguing that claims about a rival offer from Amber Energy have been “grossly misleading”.
In a new court filing the…

Belco crews worked for about 17 hours carrying out repairs and restoring power to customers after a crash on Harbour Road left a utility pole snapped apart.
Shelly Leman, a managing director at the c…

If you are like me, you have been diligently putting away money for decades, dreaming of the day you can sit back, relax and let that flight take you wherever you want to go — the day when you can fin…

Dear Dave,
I started my own small business a couple of years ago. Thanks to your advice, and a lot of hard work, we’re starting to see growth. I’m just curious, if you could go back and restart your b…

Axis Capital is sticking with its reinsurance business even as some rivals head for the exit.
At an investor conference this week, Vincent Tizzio, chief executive of the Bermudian-founded company, sai…

The RG/BSX Index closed at 2,757.42 unchanged for the day with no activity on the Bermuda Stock Exchange.
The Index was down 226.29 (8.20 per cent) for the week after share volume of 3,913, with a tur…

Gold Reserve Ltd, listed on the Bermuda Stock Exchange, has highlighted a new filing by the United States Government in a closely-watched New York court battle over the validity of the 2020 Petróleos…

As competition in the business for mobile phone service heats up, Paradise Mobile has taken an aggressive line: it is offering to pay users to switch.
The company took to the lawn of City Hall this m…

Price Forbes Re has appointed industry veteran Tim Barber as chief executive of its London reinsurance business.
Mr Barber, who will report directly to Chris Bonard, president of Price Forbes Re, will…

MultiStrat, the Bermudian-based specialist underwriter and reinsurance investment platform, has announced two senior appointments and a new capital raise as it pushes ahead with its growth strategy.
T…

Bermuda’s first Visa cashback programme is being offered by Clarien Bank in partnership with Visa, rewarding customers for United States purchases.
It provides access to exclusive rebates on hotels, c…

An alarming news story grabbed the attention of delegates at a risk conference.
Caribbean leaders were braced for international fallout after a Venezuelan cartel boat was bombed off the coast, prompti…

Credit card firm American Express has withdrawn cardholders’ ability to pay their credit card bill through regional banks including Butterfield.
A Butterfield spokesman told The Royal Gazette they had…

The reinsurance industry can anticipate more rate softening next year, a Guy Carpenter executive has reported, while price decreases accelerate and terms and conditions broaden.
“How fast it happens w…

Investment experts will be at the centre of a discussion on retirement financing.

Can You Afford to Retire in Bermuda? is a pension breakfast seminar on September 15 at 8am in the Trudeau Ballroom…

The finance ministry has released a consultation paper seeking feedback on proposed tax credit legislation following the Tax Reform Commission Report.

The public has until September 25 to respond. …

The director for Caribbean countries at the World Bank has called for a regional tax on cruise tourism that would be paid by every passenger, noting that the Caribbean has more cruise tourism but earn…

With an estimated 10,000 cruise visitors and crew coming ashore at peak times, Dockyard cannot cope, the Bermuda Taxi Operators Association has said.
Responding to a recent story in The Royal Gazette …

Catastrophe bond issuance surpassed $21 billion during the most active 12-month period in the history of the insurance-linked securities market, global professional services firm Aon plc has reported….

Bermudian-based Gold Reserve Ltd has stepped up its battle in the high-profile sale of Citgo Petroleum’s parent company, telling a United States court that its $7.9 billion bid should be approved inst…

AM Best has placed Sompo Japan Insurance Inc and its subsidiaries under review with “positive implications” after the group announced plans to buy Aspen Insurance Holdings Ltd for $3.5 billion.
The ra…

Reinsurer Acrisure has launched AcrisureIQ Pro, a portfolio and reinsurance optimisation tool.
AcrisureIQ is the firm’s proprietary analytics platform that transforms complex data into clear, actionab…

A storm is brewing over the pricing for the proposed merger involving a Bermudian-based investment holding company and one of the oldest investment companies in the British market.
A bloc of investors…

Bermuda College is launching a new virtual programme to fill an academic void.
Compliance Academy goes into operation this month in partnership with the Association of Bermuda Compliance Officers.
It …

The Bermuda Monetary Authority has unveiled plans to crack down on “greenwashing” by investment funds, proposing new rules that would require clearer sustainability disclosures and ban misleading fund…

Butterfield Bank has awarded Bermudian Jeriel Fernandes the $30,000 Sir Harry D Butterfield Undergraduate Scholarship.
Ms Fernandes, a business major at the University of Liverpool in England, is keen…

Ahmani Peets will become the first person with autism to exhibit and speak at the International Baking Industry Expo.
The three-day event at the Las Vegas Convention Centre, from September 14 to 17, …

Bermudian-based White Mountains Insurance Group has announced that Liam Caffrey will become chief executive on January 1, 2026.
Mr Caffrey, who is president and chief financial officer, will succeed M…

The RG/BSX Index ended the day down 6.48 points (0.22 per cent) to close at 2,977.23, based on the trading of 1,300 shares of Bermuda Press Holdings Ltd. The company fell $4 (57.1 per cent) to close a…

In addition to new United States import duties, Bermuda’s online shoppers now have extra courier fees to pay.
Buyers of goods imported into the US valued at $800 and under, escaped paying duty until A…

BF&M has awarded its 2025 Postgraduate John Wight Scholarship to Bermudian medical student, Veronica Swan DeGraff.
The $20,000 award will go towards Ms Swan DeGraff’s doctor of medicine studies at…

Craig Bridgewater is stepping down from his role as Butterfield Bank’s group chief financial officer, the firm announced today.
Mr Bridgewater, who has been in the role since 2022, will be pursuing ot…

Envelop Risk, the cyber reinsurance specialist, has made three senior appointments across its Bermuda and London platforms.
In Bermuda, Michael Murdoch-Smith has joined as senior vice-president and un…

Concilium Ltd, a Bermudian-incorporated investment holding company listed on the Bermuda Stock Exchange, has reported stronger revenues for 2024, while maintaining a healthy profit position.
The compa…

Axis Capital Holdings Ltd has had its credit ratings affirmed by AM Best, with the outlooks kept at stable.
The rating agency confirmed the Financial Strength Rating of A (Excellent) and the Long-Term…

Member companies of the Association of Bermuda Insurers and Reinsurers wrote ten per cent more business in 2024 and had an 8.5 per cent increase in total equity.
Abir’s global underwriting report, re…

Even as Bermudian online shopping has surged in the last six years, the closure of the tariff loophole on cheap imports into the United States may lessen the appeal of internet spending.
The loophole …

Bermuda has sanctioned Andrei Marchenko, a top lieutenant of Russia’s radiological, chemical and biological defence troops, according to a notice by the Financial Sanctions Implementation Unit at HM T…

Gold Reserve Ltd, which is listed on the Bermuda Stock Exchange, says it will fight a United States court decision that recommended a rival bidder over its $7.9 billion offer for the parent of Citgo P…

When I was growing up, I remember mum and dad as very clearly being diligent savers, always scrimping and saving to make sure they never carried debt other than their mortgage.
I also remember — just…

Dear Dave,
I’m 29, and I’m about to buy my first home. My plan is to buy a duplex, and rent out the other side to help pay down the mortgage quickly.
A good friend, who is like a brother to me, wants …

Seven young Bermudians got wise words for the future from their summer mentors — along with three cash prizes — at the Bermuda Economic Development Corporation’s Summer Student Entrepreneur Programme …