Royal Gazette

Insured losses reached $145 billion in 2024, the sixth-costliest year on record according to new research from Aon, the global professional services firm, while over economic losses reached $368 billi…

The global reinsurance industry delivered a second consecutive year of solid results in 2024, according to AM Best’s latest market segment report, released ahead of the annual Rendez-Vous de Septembre…

Shark fishing regulations introduced three years ago that ban recreational fishing for most species in Bermudian waters are killing a long-held tradition: shark oil barometers.
Years ago, hurricane wa…

Fidelis Insurance Group posted net income of $19.7 million for the second quarter of 2025, or 18 cents per diluted share, the company announced last week.
Operating net income for the quarter was $13….

American International Group, which has deep ties to Bermuda’s insurance sector, has named Scott Hallworth as its new chief digital officer, effective September 1.
He will oversee the global insurer’s…

Several Bermudian-based reinsurance groups have climbed the global rankings in the latest AM Best World’s 50 Largest Reinsurers report, released yesterday.
The report, which reflects year-end 2024 re…

Digicel Bermuda hosted 16 students as part of the SkillCraft Bermuda programme, offering them an immersive experience in telecommunications.
SkillCraft is a career-exploration initiative designed to …

Walkers, the international law firm hosted eight students in its Bermuda office this summer, providing practical experience and insight into the legal field.
The summer interns were: Saria Robinson, O…

More Bermudians are being drawn to industries that the island can build on, the Construction Association of Bermuda has noted.
The observation came as the association was recognising the concentration…

In the midst of a heated bidding war, Citgo Petroleum, the US refining arm owned by Venezuela, reported second-quarter net earnings of $100 million, rebounding from a $25 million loss in the same peri…

The RG/BSX Index finished at 2978.63, up 4.29 (0.14 per cent) for the day and down 0.36 (0.01 per cent) for the week.
Just one issue traded, 100 shares of Allshores today, which closed at $16.95, up 4…

KBRA has affirmed the A insurance financial strength ratings for Somerset Reinsurance and Somerset Reinsurance Company.
The credit ratings agency also affirms the BBB+ issuer rating for Somerset Holdi…

The owner of the Bermuda Stock Exchange, Miami International Holdings Inc, saw a dramatic rise in share price after its initial public offering in New York, which valued the regulated financial market…

A senior executive of cryptocurrency firm Coinbase – which has offices in Hamilton – has called the signing of the American Genius Act, a monumental achievement.
Officially known as the Guiding and E…

Moody’s Ratings has affirmed the Baa3 senior unsecured notes and Prime-3 commercial paper ratings of Bacardi Ltd and its Dutch subsidiary Bacardi-Martini BV, with a stable outlook, the agency announc…

The Bermuda Monetary Authority has issued a warning after learning that fraudsters used a fake e-mail domain, @bma-bm.com, to trick a regulated company into sending money to an unauthorised account ov…

Bermuda has joined the Office of Financial Sanctions Implementation at HM Treasury in their targeting of the relative of the late Iraq dictator, Saddam Hussein.
It is part of the Iraq (Sanctions) (EU …

Two technicians at Bermuda Motors have been recognised for completing specialised regional training through Toyota Tsusho America Inc.
Patrick Abuluyan, an A1 technician motor vehicle mechanic, comple…

At JB’s Coastal Creations, entrepreneurs Jerry-Dee Richardson and Brittany Haley have crafted keepsakes for a range of events, including a first encounter with a stingray and golf tags for a champions…

Bermuda may be one of the original captive domiciles, but a couple of American states — particularly Vermont — are growing in popularity, according to Scot Sterenberg, managing director at Marsh LLC.
…

Paradise Mobile has promoted Ashantae Goater to senior brand ambassador.
The company said the move was in recognition of her exceptional contributions and leadership throughout her two years with them…

Diamond DeShields and Zachary Bishop are the recipients of the 2025 EY Gil Tucker Bermuda Scholarships.
The awards are valued at up to $30,000 per year for a maximum of five years until the recipient …

The next installment of the Economic Development Department’s Fintech Webinar Series 2025 will explore the Influence of the Digital Asset Business Regulatory Framework in a virtual session featuring T…

Axis Capital Holdings Ltd has launched Axis Capacity Solutions, a new business unit dedicated to developing and supporting structured, multiline portfolio capacity deals on both a facilitated and dele…

Michael Grob has been named head of international distribution at Meanwhile, the world’s first bitcoin-denominated life insurance company.
Mr Grob brings more than two decades of experience in life in…

Transamerica Life (Bermuda) Ltd has launched Opus One Indexed Universal Life to professional investors in Hong Kong and reinforced its drive to serve high-net-worth clients.
The company specialises in…

Market researchers have put Bermuda at the centre of “a secular change in domestic life insurer strategies around capital management and product growth”.
Alirt Insurance Research raises concern that t…

Global specialty insurer and reinsurer, SiriusPoint Ltd has engaged in a new strategic partnership with Arden Insurance Services LLC, a US commercial property managing general underwriter.
SiriusPoint…

The Apex Group and Penrose Partners have facilitated the formation and first formal meeting of the Bermuda Stablecoin Association.
The founding partners included leading global digital asset firms ope…

The American International Group has announced the recipients of a total of $35,000 in scholarships.
The funds are for youngsters who excel academically, and demonstrate exceptional leadership skills …

Appleby’s Bermuda office has concluded its second annual summer internship mock trial.
Interns Kyla Lowe, Owen Neal and Seon Tatem served as the plaintiffs while Ashley Attride-Stirling, Thomas Evans…

Boutique accountancy firm, Abacus has hired Nikka Galang as a financial solutions consultant.
In this role, Ms Galang will be responsible for delivering full-cycle accounting services to Abacus’ clien…

Lancashire Holdings has announced a number of senior management shifts at Lancashire Holdings and Lancashire Insurance.
Retiring Lancashire Syndicates chief executive officer John Spence will be succe…

Strategic Risk Solutions has promoted Andrew Hupman as its new head of office for SRS Bermuda, reports Artemis.bm.
Mr Hupman, who has been with the Bermuda office since 2008 will continue to service h…

MSN is highlighting the Condé Nast Traveller’s take on the 16 best bars in Bermuda, a part of the travel publication’s Bermuda Travel Guide.

The online news service list is alongside the ten best…

Bermudian-based reinsurer Carrick Group has entered into a loss portfolio transfer with several firms, ahead of a proposed part VII transfer.
Carrick said it intends to assume the covered business of …

Aleisha Hollis, has been made a senior associate in Appleby Bermuda’s corporate department.
Ms Hollis specialises in corporate and commercial law, with a strong emphasis on insurance and reinsurance…

Assured Guaranty Ltd has reported net income of $103 million for the second quarter of 2025, equal to $2.08 per share.
The Bermudian-based bond insurer said shareholders’ equity per share reached a re…

Algonquin Power and Utilities Corp, parent company of Bermuda’s electricity provider, Belco, reported a sharp drop in net income for the second quarter of 2025.
The Ontario-based utility said net earn…

I’m sure I can speak for most people when I say that sometimes you can plan your vacation down to the last detail, but the universe has other ideas for you: it wants to test your patience and challeng…

Dear Dave,
Our son used to own and run his own small business, until it went bankrupt a few months ago. We let him move in with us, because he has not been able to find another job and had nowhere els…

The Jonathan Betts legal scholarship has been awarded to Kennedy Wilks.
Law firm Walkers said the $30,000 scholarship was given to the Queen Mary university student entering his third year. The schola…

Aspen Insurance Holdings Limited has reported half year net income available to ordinary shareholders of $55 million, down from the same period last year when the company made $153.5 million.
Second q…

The Bermuda Economic Development Corporation’s 7th cohort of the Enterprise Bermuda Incubator programme includes 10 new businesses in a six-month journey focused on growth and business development.
Th…

Three high school students gained rare insight into the inner workings of the Bermuda Chamber of Commerce during an internship this summer.
Tyree Fox from The Berkeley Institute, Sherne McQueen from C…

Appleby Bermuda’s annual provision for scholarships and bursaries will total $90,000 this year as successful candidates get assistance in educational funding.
The law firm has been providing scholarsh…

The Bermuda Business Development Agency is folding its Climate Summit into the Risk Summit platform, uniting two of its most high-impact event brands under one expanded global forum.

The fifth ann…

An HSBC Bermuda client feels left high and dry, after the bank ran out of cheques.
“I am just peeved that HSBC hasn’t informed their clients,” said the customer, who did not wish to be named. “They ar…

Hamilton Insurance Group has posted strong second-quarter results, reporting $187.4 million in net income and a 30.2 per cent annualised return on average equity.
The Bermudian-based insurer saw earni…

Lancashire Holdings Ltd reported a strong profit after tax of $109.2 million for the first half of 2025, crediting disciplined underwriting, a diversified portfolio and a resilient business model amid…