Royal Gazette

The European Union is actively revamping captive insurance industry regulations and policies to better lure more business away from Bermuda and other offshore jurisdictions, according to a new report …

The Bermuda office of Walkers, the international financial services firm, has announced the promotions of six staff.
Those promoted and their new positions are: John McSweeney, senior counsel, Insolve…

Bermudian-based Monument Re Ltd has announced that its subsidiary Monument Assurance Belgium NV has completed the acquisition of a branch 21 closed book classical group life insurance portfolio from C…

A local car dealership is lukewarm about changes to the rules to allow the sale of larger electric and hybrid vehicles, saying the extra length and width is not enough.
On Friday, the House of Assembl…

David Burt, the Premier and Minister of Finance, believes the proposed merger between two of Bermuda’s largest domestic insurance companies is a direct reaction to the decision to pursue Universal Hea…

Argus Group chief executive Alison Hill will be a free agent if her employer’s proposed merger with BF&M is completed.
If the deal closes, Abigail Clifford, the group president and chief executive…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty insurance and reinsurance, has appointed Christoph Müller as country manager, Insurance for Sw…

Bermudian-based Axa XL has appointed Kathleen Ziegler as chief operating officer for its Americas’ insurance business.
She will report to Lucy Pilko, Axa XL’s CEO, Americas, who said: “Kathleen has an…

PwC Bermuda has promoted Kristen Robinson to director, Financial Advisory, primarily to focus on enhancing consulting capabilities to support clients in achieving their strategic objectives.
Ms Robins…

The amalgamation of BF&M and Argus will lead to job losses but the offices and business lines affected and their extent are not yet known, the future chief executive of the combined company has sa…

Have you ever noticed when viewing or sharing a media file on platforms such as YouTube or Instagram that the html address includes a random string of letters and numbers?
For example, a recent YouTub…

The Fidelis Partnership together with Fidelis Insurance Holdings Ltd has confirmed that Syndicate 3123 has formally begun underwriting business at Lloyd’s.
The Fidelis Partnership Syndicate was launch…

Fortitude Reinsurance Company Ltd has announced a $250,000 donation to the student literacy charity, Bermuda Education Network.
Amanda Stewart, head of Employee Experience, Fortitude Re and BEN board…

Surging ransomware claims in 2020 and 2021 led to a major market correction that last year stabilised conditions, as improved cyber hygiene among insureds, helped to prevent or mitigate the impact of …

Conyers has begun its 2024 Bermuda Summer Law Student Programme, with eight law students or recent graduates interning at the firm over two, six-week terms.
It allows aspiring legal professionals to g…

PartnerRe Ltd will voluntarily delist its 4.875% Series J Fixed Rate Non-Cumulative Preferred Shares from the New York Stock Exchange, and deregister the preferred shares under the US Securities Excha…

A lack of evening entertainment in Bermuda, is hurting tourism, according to one local event promoter.
Declan Harris, organiser of this month’s Collie Buddz show at Snorkel Park in Dockyard said: “Ber…

An application by the Bermuda Monetary Authority to withdraw its petition in the matter of White Rock Insurance (SAC) Ltd was adjourned by the Supreme Court of Bermuda to allow for argument opposing t…

Bermudian-based Allied World has made a two-year financial commitment of $700,000 to the St Baldrick’s Foundation in the United States.
The donation will support the ongoing work of the foundation, an…

Toronto-based Onex Partners has completed its acquisition of Accredited, the global P&C programme manager.
The deal comes after Teneo (Bermuda) Ltd was appointed joint provisional liquidators of B…

Five small and medium-sized businesses have benefited from the Bermuda Economic Development Corporation’s 9th cohort of the Enterprise Bermuda Accelerator, a six month programme helping owners grow th…

Bermuda Press Holdings Ltd, the owners of The Royal Gazette, are reporting an unaudited loss of $568,000 for the first half of the year, as compared to a $33,000 profit for the same period in 2023.
In…

Bermudian-based Relm Insurance, the specialty insurance carrier supporting emerging and innovative industries, has announced a partnership with SideChannel, the provider of cybersecurity services and …

Bermudian-based Phil Schmidt has been appointed chief strategy officer of Markel, the insurance operations within Markel Group Inc.
The company said Mr Schmidt, who joined Markel last October as a man…

A wholly owned subsidiary of Enstar Group Limited has signed an adverse development cover agreement with Insurance Australia Limited, on behalf of Insurance Australia Group.
Under the terms of the ag…

Financial services investment holding company, Somers Ltd, has reported a net profit of £28.3 million (or nearly $35.8 million) for the first half of the year to March 31, (compared to 2023: net loss …

More visitors renting cycles would substantially improve Bermuda tourism, if only locals would stop warning tourists against them, a livery cycle owner has insisted.
The number of visitors who opt for…

SiriusPoint Ltd, the Bermudian-based global specialty insurer and reinsurer, and Euclid Security Programs LLC, a boutique managing general underwriter specialising in security industry risks, have ann…

Bermudian-based Axis Capital Holdings Ltd has expanded its partnership with Elpha Secure, which began in 2021 when Axis became both an investor in and a capacity provider for the company.
“In extendin…

The RG/BSX Index ended today at 2,413.29, up 19.86 points (0.83 per cent), with 1,400 shares changing hands.
One thousand Butterfield Bank shares traded to finish at $33.50, up 20 cents (0.6 per cent)…

Brit Ltd has signalled its intention to expand the scope of Brit Reinsurance (Bermuda) Ltd with the appointment of former PartnerRe president and CEO Jacques Bonneau as a non-executive director of the…

A new cohort of future leaders begin a “summer business camp” Monday, designed to develop a new wave of entrepreneurs.
There have already been 56 graduates of the Summer Student Entrepreneur Programme…

The world’s fourth largest credit ratings agency has assigned to Bermuda Long-Term Foreign and Local Currency – Issuer Ratings of “A”.
At the same time, Toronto-headquartered Morningstar DBRS assigned…

Seadrill Ltd, the Bermudian-based offshore drilling company, has completed the sale of its interest in an offshore Qatar jack-up fleet in a cash deal worth $338 million.
Seadrill sold three jack-up ri…

Teneo (Bermuda) Ltd has been appointed joint provisional liquidators of Bermudian-based R&Q Insurance Holdings Ltd.
A hearing in the Supreme Court of Bermuda yesterday confirmed the appointment of…

Bermudian-based Oceanview Holdings Ltd has expanded its global reinsurance operations with the establishment of a new subsidiary in the Cayman Islands.
Oceanview Secure Reinsurance Ltd has been awarde…

A subsidiary of Bermudian-based Assured Guaranty Ltd has, for a second time, insured $800 million of senior Special Facilities Revenue Bonds issued by the New York Transportation Development Corporati…

When Roberta Munden and Jane Roberts announced they were opening clothing store Boho Couture in St George, some people were sceptical.
“We really loved the vibe in the historic town, but so many peopl…

Lockton Inc, the world’s largest independent and privately-held insurance brokerage, has reported global revenue of $3.55 billion for its fiscal year ended April 30, which compares with $3.09 billion …

Chubb Bermuda has welcomed three summer interns to its Chubb Select Internship Programme, which is in its 12th year.
This internship is provided to Bermuda university students pursuing a career in the…

Hannah Tildesley has joined the insolvency and dispute resolution practice at law firm Walkers Bermuda as partner.
The firm said her experience spans banking and funds litigation, appraisal actions, d…

Michael Hanson is to become a group managing partner at Carey Olsen, the international law firm, effective July 1.
Mr Hanson, who is to continue as Bermuda managing partner, will be joined as a group …

Former Fortitude Re CEO James Bracken has been named chief financial officer at Zurich North America, effective July 1.
Mr Bracken will succeed Peter Hirs, who returns to Zurich Insurance Group in Swi…

Hamilton Global Specialty, an underwriting platform of Bermudian-headquartered Hamilton Insurance Group Ltd written by Syndicate 4000 at Lloyd’s and Hamilton Insurance DAC, has appointed Niamh O’Brien…

Bermudian-headquartered Artex Risk Solutions has acquired London-based Implement Compliance Solutions & Resources Ltd.
Terms of the transaction were not disclosed.
ICSR provides consulting and sup…

When Deon Brangman decided to relocate his barbershop, Made to Fade, from Palmetto Road to the City, it took him six months to find somewhere to rent.
He wanted more space so that he could add new ser…

A new PwC survey has revealed what could be a growing exodus of workers in search of new jobs, and warns employers to invest in technology and training if they want to keep their best workers.
First i…

Hudson Structured Capital Management Ltd, which does its insurance and reinsurance business as HSCM Bermuda, has appointed Katherine Park as the head of Capital Formation and Investor Relations.
The c…

Lower winter storm losses and a recovery in personal auto results drove the US property casualty market to a strong statutory underwriting profit, year-over-year for the first quarter of 2024.
Fitch R…

Todd Link has been appointed as the new chief financial officer of Vantage Group Holdings Ltd.
Mr Link will oversee all aspects of Vantage’s financial operations, including accounting, financial plan…