Royal Gazette

The RG/BSX Index was down 0.26 (0.01 per cent) to 2,983.71 today as 300 Devonshire Industries traded on the Bermuda Stock Exchange, closing at $6.50, down 50 cents (7.1 per cent).
The Index ended the …

Bermudian-based Gold Reserve Ltd, via its American subsidiary Dalinar Energy, yesterday submitted an enhanced proposal in the court-supervised sale of PDV Holding Inc, the parent company of Venezuelan…

AM Best, the credit ratings agency, has placed the ratings of Bermudian-based Aspen Insurance Holdings Ltd and its subsidiaries under review with positive implications, following news of a $3.5 billio…

Inpex Insurance Ltd, a Bermudian-based captive owned by Japan’s largest oil and gas producer, has had its credit ratings affirmed at “A” (Excellent) by AM Best.
The international ratings agency confi…

Bermuda’s banks saw non-performing loans edge higher in the first quarter of 2025, even as profits more than doubled, according to the Bermuda Monetary Authority’s Quarterly Banking Digest.
The ratio…

Retail sales volume has increased 3.6 per cent when compared to April 2024. The Retail Sales Index number was calculated by adjusting for the retail sales volume of inflation, measured at 0.8 per cent…

Consumers paid 1.8 per cent more in April 2025 than they did a year ago for the basket of goods and services included in the Consumer Price Index, the Department of Statistics reported today.
The annu…

Emergency crews attended an East End beauty spot yesterday after a man was hurt as a result of a lightning strike.
Luca Legrenzi, who witnessed the incident, said the man was standing on a firepit nea…

Rocketing credit card fraud in the shipping industry is causing some major US retailers to bypass freight forwarding firms, leaving Bermudians unable to order directly from a host of popular brands.
R…

S&P Global Ratings has raised its long-term issuer credit rating for Ascot Group, the global speciality insurance and reinsurance company, to BBB+ from BBB on its strengthened capital position.
S…

Japanese life insurers are increasingly setting up reinsurance structures in Bermuda as they seek different and better ways to deploy their capital amid shifting global rules, according to a new repor…

The Bermuda Monetary Authority’s midyear financials show a sharp rise in cash holdings, with cash assets climbing to $136.7 million, compared with $71.1 million at the end of 2024, and deferred income…

Gold Reserve Ltd, the Bermudian-based company vying for control of Venezuelan-owned Citgo through its American subsidiary, has cleared a major regulatory hurdle, but is now challenging a rival bid in …

Jessica Laird has become chief executive officer of Nephila Capital, one of the largest catastrophe insurance-linked securities managers in the world, according to reinsurance website Artemis.bm.
Cofo…

The Department of Workforce Development is inviting recent college and university graduates who are unemployed to take part in a virtual career information session next week.
The 30-minute session wil…

The National Anti-Money-Laundering Committee is consulting the financial services industry as it prepares to update its laws surrounding the proceeds of financial crime.
Bermuda comes under the micros…

One of the largest property and casualty insurers in Japan has agreed to buy Bermudian-based speciality insurer Aspen.
Sompo, headquartered in Tokyo, will pay $3.5 billion for the company headed by Ma…

The Bermuda Post Office has joined dozens of international carriers in suspending shipments of packages to the United States, following the removal of the duty-free exemption for parcels valued under…

After five years in business, Camily Lovell’s advice for retail newcomers is to expect challenges.
When she launched online business Strange Bird in 2020, offering aromatherapy candles, she thought t…

The Bermuda Taxi Owners and Operators Association has launched the BTOA Connect customer app, which is available for download on IOS and Android.
The new platform provides residents and visitors with …

AM Best has assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a” (Excellent) to Somerset Life Reinsurance (Somerset Life Re) (Bermuda). The outlook assigne…

The 2025 Wyoming Blockchain Symposium in Cheyenne, which was attended by a Bermuda delegation, seemed to unite the US Government, regulators and industry leaders to advance American digital asset poli…

Chariot Re has appointed Reena Pally as its chief investment officer, effective September 1.
The Bermuda-based life and annuity reinsurer, which launched this year with co-sponsorship from MetLife an…

Bermuda’s construction industry has recorded its strongest quarter since 2019 with both government and private suppliers reporting strong demand across the island.
According to the Department of Stati…

Not terrible is how chief executive officer of the Bermuda Land Management Corporation describes the transport situation in Dockyard this tourism season.
After long lines at the cruise ship pier ange…

Bermuda’s reinsurers are still central to the global insurance-linked securities market but they are under pressure as record amounts of capital push prices down, a new AM Best report said.
The rating…

Kestrel Group Ltd has reported a dramatic turnaround in earnings, posting a net profit of $69.9 million for the second quarter of 2025, compared with a loss of $547,000 in the same period last year, a…

The British Government’s National Security Strategic Investment Fund is backing a trade financing company that has secured a licence to issue a stablecoin from the Bermuda Monetary Authority.
The move…

AM Best has revised its outlook on the American health insurance segment to negative from stable due to increased utilisation, higher medical costs across the industry and other significant segment ch…

The RG/BSX Index remained at 2,922.67 on the Bermuda Stock Exchange in the absence of any trading yesterday.
Butterfield Bank fell 53 cents (1.16 per cent) on the New York Stock Exchange to end the da…

Everest Group Ltd has appointed Laura Hay as an independent, non-executive member of its board of directors.
The Bermudian-based global insurer and reinsurer, which provides property, casualty and spe…

David Burt, the Premier, has returned after leading a delegation to the 2025 Wyoming Blockchain Symposium in Jackson Hole, where he spotlighted Bermuda’s progressive digital finance framework on the i…

Dealing with relatives can be challenging and stressful at the best of times, and one thing that is common across the board is that no family is perfect. However, when someone in the family is primari…

Dear Dave,
Your plan has really changed our financial lives, and our relationship, for the better over the last three or four years. My wife and I went from living paycheque to paycheque, and having a…

PwC Bermuda, in partnership with the Financial Times, has announced the roster of industry leaders appearing at its 18th annual Insurance Summit, set for November 12 at the Hamilton Princess Hotel &am…

Allied World Bermuda has wrapped up its 2025 summer internship programme, providing three Bermudian university students with hands-on experience in the island’s insurance and reinsurance industry.
The…

Aegon, the Bermudian-domiciled insurance giant, has reported a strong first-half profit while launching a review on whether to shift its headquarters from Europe to the United States.
The company said…

Asian reinsurers are stepping up their presence in global markets, and Bermuda is playing a part in their strategy.
According to a new report by AM Best, reinsurers across Asia are expanding beyond th…

The Regulatory Authority of Bermuda has appointed Jessica Mello and Dennis Pimentel to its board of commissioners.
The RA, which regulates electricity, electronic communications, submarine cables and …

A major hurricane hitting one of the big cities in the United States could easily cost more than $100 billion in insured losses, according to a new report from Karen Clark and Co.
KCC said America has…

Helen Souza is now a consultant for the Bermuda Captive Network, supporting its membership drive and business development.
BCN said Ms Souza brought extensive experience in strategic communications, s…

Price hikes due to new import tariffs in the US will not hit hurricane supplies until next year, one retailer told The Royal Gazette.

Terry Ebbin, vice-president, retail operations at Masters Home Ce…

Ornamental Concrete Products Ltd will remain at its longstanding Devonshire location for at least another year, the company announced this week.
The business, formerly known as Bermuda Ornamental Conc…

Matthew Kirk is set to become the next chief financial officer at Axis Holdings starting next March, succeeding Peter Vogt.
The change in leadership was planned, according to the company in a press re…

Apex Group Ltd has named two senior leaders to its executive team as part of its ongoing global expansion.
Effective October 1, Kimberly DeTrask will join the company as chief financial officer. She c…

Five students from The Berkeley Institute have spent the summer getting hands-on exposure to Bermuda’s growing fintech sector through internships at Chubb and Paradise Mobile, supported by the Economi…

Bermudian-based reinsurers delivered the strongest capital growth of any region in 2024, according to a new AM Best report released before the Rendez-Vous de Septembre in Monte Carlo.
The report, Mom…

Two Bermudian-based firms are collaborating to improve world health outcomes through producing, analysing and tokenising carbon offset credits.
Apierion, a global fintech healthcare company, and Trian…

Chartered Professional Accountants of Bermuda will hold its second back-to-school drive on Saturday.
This community-focused initiative will distribute 500 backpacks filled with essential school suppli…