Royal Gazette

The Bermuda Business Development Agency has released its End of Year Report for 2024, which highlighted a landmark shift to an Investment Promotion Agency model. This transition aims to enhance Bermud…

SiriusPoint Ltd, a global speciality insurer and reinsurer has announced a new strategic alliance with one of the largest independent insurance brokerages in the United States.
The firm has partnered …

Bermuda: Re+ILS is once again celebrating the achievements of women in the workplace with its Women in Hamilton feature. The annual section shines a spotlight on women making a difference in Berm…

Christian Dunleavy has been appointed a director of Aspen Insurance Holdings Ltd, and Michael Lagler appointed a non-executive director.
Mr Dunleavy is group president and chief executive officer of A…

When Brian Duperreault started as an actuary at AIG, he thought the firm’s name sounded so phoney it had to be a CIA front.
Today, AIG can be found in more than 80 countries, including Bermuda, and em…

The Bermuda College Foundation has received a $62,250 donation from presales of the new biography, Faith & Purpose: The Life & Vision of Insurance Industry Icon Brian Duperreault.

Association…

This month, the Privacy Commissioner of Bermuda released his Financial Services Guidance Notes: Final Report.
After seeking, and receiving, input from the financial services sector last year, and issu…

Mangrove Property Insurance Company, the Florida-based start-up led by Bermuda market veteran Stephen Weinstein, has been approved by the Florida Office of Insurance Regulation to assume policies from…

The Federal Reserve kept its benchmark interest rate unchanged at 4.25 per cent – 4.50 per cent today, as expected, but its economic projections have drawn scrutiny amid US President Donald Trump’s ev…

The MoonGate Group has again distributed its “We Care Packages” to vulnerable persons in the community. Due to increased demand, the campaign’s day of giving has grown from 100 distributed packages to…

Paradise Mobile is kit sponsor and 5G data provider for Bermuda Rugby, outfitting the national team in sleek, vibrant pink jerseys that are as bold as their style of play, the company said.
The partne…

The parent company to the Bermuda Stock Exchange is buying the International Stock Exchange.
Miami International Holdings, Inc and The International Stock Exchange Group Limited have reached agreement…

As Aegon’s new holding company prepares to tackle recruitment, housing and the cost of living on the island are a definite concern.
It started with one employee in September 2023, and is now up to six…

Ricardo Lara, the California Insurance Commissioner, has continued to fight criticism over his visit last week to the Bermuda Risk Summit.
He returned to Sacramento to a storm of controversy, having m…

PartnerRe has reported net income of $1.44 billion for 2024, compared to $2.3 billion for the previous year.
In their latest financial statements for the full year, the firm also revealed positive op…

The RG/BSX Index rose 97.92 points (3.99 per cent) to 2,552.84 today, based on the $1.75 (4.9 per cent) rise of Butterfield Bank to $37.75 after the trading of 580 shares.
There was no other activity …

LOM Financial Limited has posted a strong financial performance for 2024, with full-year profits rising to $4.76 million, or $0.97 per share, compared to $4 million, or $0.80 per share, in 2023.
Reve…

The Government will learn what business leaders really think of the first budget under a corporate income tax regime at the Bermuda Chamber of Commerce’s annual Budget Breakfast on May 5 at the Hamilt…

The insurance-linked securities market posted another year of strong returns in 2024, with total capacity reaching an estimated $107 billion by year-end, according to a new report from AM Best: ILS Ma…

Elementum Advisors has appointed Jeff Davis and Paul Barker as chief investment officers, marking a leadership transition within the firm’s catastrophe bond and collateralised reinsurance investment d…

When Sylvia Oliveira first came to Bermuda to work as a young life actuary, the regulatory requirement for a life insurance company was to hold $250,000, and that was it.
“Obviously, companies held mo…

Ricardo Lara, the California Insurance Commissioner, is in hot water in Sacramento for attending the Bermuda Risk Summit last week, instead of the first hearings of the year for lawmakers in the state…

A new artificial intelligence-driven parametric insurer has launched in Bermuda and Texas, aiming to transform how natural catastrophe risks are underwritten and managed.
Mythen, founded by insurance…

The RG/BSX Index fell 58 cents (0.02 per cent) to `2,454.92 today, based on the 10 cent (7.1 per cent) decline of Bermuda Aviation Services Ltd to $1.30 after the trading of 197,300 shares.
Other trad…

Devonshire Cougars 2 Paget Lions 0

Police were called as tempers flared during an often violent FA Cup semi-final at Bernard Park yesterday.
Devonshire Cougars forward Kamali Davis was involved i…

Insurance icon Brian Duperreault has dismissed concerns about possible fallout from the introduction of corporate income tax in Bermuda, predicting things will be fine.
“I do not think the tax is goin…

A warning has emerged from a just-concluded insurance conference about future Bermudian employment opportunities in the industry and today’s education system.
A top executive told Bermuda Risk Summit …

Tucker’s Farm Corporation has acquired one of the largest family-owned locksmith businesses in the US, marking the Bermudian-based investment vehicle’s expansion into the security sector through its n…

Hamilton Global Specialty has appointed Sinead Cormican as active underwriter of Syndicate 4000 as of April 1, subject to regulatory approval.
Ms Cormican, who has served as deputy active underwriter …

Auto Solutions team member Somers Smith has been named Sales Associate of the Year 2024 for Suzuki Caribbean, beating out 116 sales associates across 22 islands in the Caribbean.
Mr Smith, who began a…

A global financial technology firm and a stablecoin market leader will bring its newly acquired Hashnote Tokenised Money Market Fund, under its existing Digital Assets Business Act licence in Bermuda….

Gallagher Re has launched their Cyber-Risk Adjusted Rating Index, a measure of the change in reinsurance prices adjusted for expected changes to the underlying level of risk.
The company said that un…

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Acord Solutions Group has launched the Adept Bermuda Regional Hub, offering one million free digital messaging transactions to new Bermuda-based clients in 2025. The initiative aims to accelerate the …

Bermuda represents about 35 per cent of the global reinsurance capacity, a local reinsurance executive revealed at the Bermuda Risk Summit.
“That is an amazing amount for such a small island,” said J…

Bermuda’s insurance industry is better positioned than most to navigate the geopolitical and regulatory minefields facing the world today, but industry leaders at the Bermuda Risk Summit emphasised th…

Moody’s Ratings said that an analysis of pricing information from several leading reinsurance brokers and top European reinsurers on reinsurance placements renewed January 1, 2025 revealed a dip in pr…

The Association of Bermuda Insurers & Reinsurers, The Institutes Knowledge Group and The Bermuda College are jointly expanding opportunities for college students in Bermuda to learn critical leade…

The worrying report from the Economic Committee of the Bermuda Chamber of Commerce raises far more questions than answers, and shares concerns about the state of the economy and its future.
Entitled “…

Industry executives discussed the continuing explosion in Bermuda’s long-term reinsurance sector during a Bermuda Risk Summit panel session at the Hamilton Princess & Beach Club.
Anam Kahn, a seni…

Giacomo Mariani will be running Everest’s insurance business in Italy, following its Milan office opening last November 2024.
With extensive Italian market expertise, Mr Mariani’s deep insurance indus…

The last two years were the hottest on record and the election of American President Donald Trump threatens to destabilise the situation further, according to the Bermuda Risk Summit keynote speaker J…

The RG/BSX Index closed down 9.52 (0.39 per cent), pulled down by BF&M trading of 16,822 shares on the Bermuda Stock Exchange, finishing at a dollar lower (5.9 per cent) at $16 at the close.
Mean…

A Bank of England retiree with extensive financial services and regulatory expertise has been appointed the new vice-chair of Bermuda’s Financial Policy Council.
Jill May is a seasoned financial servi…

Thomas “TJ” Krzmarzick, is Vantage Group Holdings’ new head of US excess casualty while Thomas Burtle, has been appointed chief underwriting officer, casualty.
A spokesman said these promotions unders…

The Bermuda Stock Exchange has launched a fully integrated trading, clearing and settlement platform, marking a major technological advance.
The system, developed in partnership with its parent compa…

While Bermuda has a strong regulatory framework, it will not continue to be as effective without the right people, Craig Swan, the chief executive of the Bermuda Monetary Authority, told industry lead…

AM Best has affirmed the financial strength rating of ‘A’ (Excellent) for Bermuda-based Coralisle Group Ltd’s life/health and property/casualty subsidiaries in Bermuda, The Bahamas and the Caribbean.
…

While Bermuda has a strong regulatory framework, it won’t continue to be as effective without the right people, Craig Swan, CEO of the Bermuda Monetary Authority, told industry leaders at the Bermuda …

Out of 100,000 Coldwell Banker agents in 40 countries, Bermuda’s own Brian Madeiros has placed in the top 2 per cent of all sales associates and representatives.
Mr Madeiros became president and chief…