Royal Gazette

A Supreme Court ruling that allowed the sale of US Holdings Ltd’s main asset before liquidation is being hailed by legal experts as a turning point in how Bermuda’s courts oversee high-stakes decision…

The RG/BSX Index remained unchanged today, standing at 2806.86, with no turnover on the domestic board of the Bermuda Stock Exchange.
Meanwhile, the Bank of Butterfield fell 15 cents (0.32 per cent) t…

As the island’s largest resort undergoes an historic $550 million transformation, the Fairmont Southampton is calling on Bermudians to join its future team with a meet and greet at the Bermuda Industr…

White Mountains Insurance Group will acquire a 51 per cent controlling interest in Distinguished programmes, a US property and casualty insurance programme manager.
The transaction, expected to close …

Valaris Ltd, the offshore drilling firm, has signed two major contracts worth a combined $760 million with Anadarko Petroleum Corp, a subsidiary of Occidental, for operations in the Gulf of Mexico.
Va…

Heather Venture Holdings Ltd has reported a net profit of £517,968 (about $707,000) for the fiscal year ended March 31, 2025, marking a strong financial debut for the Bermudian-listed investment compa…

There were hundreds of smiles from children on Front Street Wednesday, as they danced, laughed and played their way through One Communications’ Kids Zone at Harbour Nights.
The popular event featured …

Kate Subak has been appointed chief executive officer of HSBC Insurance (Bermuda) and HSBC Life (Bermuda).
She will manage the operations of all HSBC’s insurance entities in Bermuda, spearheading the …

As a writer, I have tried for years to distil the lessons learnt from the world and the larger community into something digestible and useful for our local experience.
Politics and history can be view…

An old carwash on the outskirts of Hamilton has been transformed into a location for motorcycle sales and service.
New business partners Kenny Pemberton and Kenneth DeSilva, opened Custom Mechanics ne…

Fitch Ratings has affirmed Wilton Re’s long-term issuer default rating at ‘BBB’.
The credit ratings agency also affirmed the financial strength ratings of its United States and Bermuda operating compa…

A Cayman Islands coroner’s court will consider the circumstances surrounding the death of 47-year-old Judiann Myles, the deputy director of the Cayman Islands Monetary Authority.
Ms Myles’s body was f…

Ezra Klein and Derek Thompson’s new book, Abundance: How We Build a Better Future is a rare thing: a serious book on public policy that has also launched a movement. In the US, senior Democratic polit…

Dear Dave,
Our daughter is a student, and she has $10,000 in student loan debt. She works part-time, and has a couple of scholarships, but she has borrowed a little along the way to bridge gaps. Her u…

Bermudian-based employees of Axa XL joined more than 3,900 colleagues worldwide to celebrate the 20th anniversary of the company’s Global Day of Giving, part of Axa’s annual Week for Good.
As part of …

Caribbean activists and researchers in the reparations movement say two days of talks with European Union and United Kingdom political representatives on the issue of slavery reparations were successf…

Neville Grant will be the new chief executive of the Bermuda Bankers Association, succeeding Geoff Scott who will be stepping down on July 31.
Mr Grant has more than a 30-year business career, which i…

The catastrophe bond market reported a record issuance of more than $16.8 billion in the first half of 2025 – a period that comprised the two largest transactions in the history of the market, each ex…

A new player has entered Bermuda’s life and annuity reinsurance sector. Chariot Reinsurance Ltd launched operations this week with a $10 billion deal to reinsure liabilities from MetLife, one of its c…

S&P Global Ratings has reaffirmed the AA financial strength rating for Assured Guaranty’s insurance subsidiaries and kept the A issuer credit rating for its parent company, Assured Guaranty Ltd, w…

Mikaela Ian Pearman, creator of lifestyle platform Luxury Rebellion, will be holding her first storytelling workshop next week.
Magnetic Content Live will be a 60-minute live class for new and emergin…

Appleby Bermuda has welcomed six legal interns to its revamped summer internship programme.
Two interns have also joined Appleby Global Services, the law firm’s corporate and fiduciary service provide…

Mosaic Insurance has welcomed four new university interns across its international offices in Bermuda, London, New York and Chicago as part of its growing summer internship programme.
The 2025 cohort …

Monica Sullivan has been named the managing partner of Nicolaides Fink Thorpe Michaelides Sullivan, an international law firm with many insurers in Bermuda.
Under her leadership, the firm plans to exp…

The volume of goods sold in Bermuda increased by 0.6 per cent in February compared to the same period last year, according to the latest retail sales index report from the Department of Statistics.
Th…

Year-over-year inflation rose just under 2 per cent in the year to February, the Government reported today.
Consumers paid 1.9 per cent more in February than they did a year ago for the basket of good…

Captive insurance is experiencing growing appeal among non-traditional sources and should see a growth spurt, says a report from one of the industry’s longtime leaders.
Marsh’s 2025 Captive Benchmarki…

The recent judgment delivered by the Supreme Court of Bermuda in the matter of Harold J. Darrell highlights the possible implications for secured creditors who fail to accurately disclose their securi…

Joint provisional liquidators have hit back at repeated complaints in connection with the decision by the Bermuda Monetary Authority to petition for the provisional winding up of Custodian Life.
JPLs …

Bermuda is now live with 5G+.
The roll-out from Paradise Mobile sets the island on par with North America’s most advanced networks, the company said, offering faster speeds, lower latency and broader…

Bermudian-based Cedar Trace Group is teaming up with Sage Advisory Services, a US-headquartered investment management firm, to launch a series of innovative investment products blending insurance-link…

Bermudian-based Enstar Group Ltd has officially closed its acquisition by affiliates of Sixth Street, the global investment firm. Shareholders received $338 in cash per ordinary share, valuing the com…

Digital asset management firm, XBTO, is the lead investor in a $3 million revenue-share note issuance by local airline BermudAir.
The transaction was executed entirely on-chain through Swiss-regulated…

The next instalment of the Fintech Webinar Series 2025 by the Economic Development Department on Friday will spotlight blockchain innovation through a live session featuring Adrian Lodge, founder and …

As the summer heats up, local air-conditioning businesses are braced for impact from new overseas laws changing the type of refrigerant gas used in the units.
The regulations call for R-32, a more env…

Britain appears on the verge of following Bermuda’s lead in establishing a classified, risk-based regulatory regime for a captive insurance industry.
Chancellor of the Exchequer Rachel Reeves has been…

Susan Richardson has become the first chief operating officer at Bermuda-based Perren Capital Management.
Since the third-party capital reinsurance manager was launched by Darren Redhead in 2024, it h…

Global reinsurer MS Reinsurance has made a series of leadership changes to its underwriting operations in Switzerland, Bermuda, and the United States.
Structural adjustments have also been made within…

Carrick Group has hired their first full-time employee in Bermuda – Armin De Weerdt, assistant vice-president, finance.
Devin O’Malley, Carrick chief financial officer said: “We are strongly committed…

Seven local law students have received a total of $60,000 in educational funds from Conyers this year.
Tiara Simons was awarded the 2025 Conyers Legal Scholarship, which provides $30,000 for each year…

Bermuda continues to maintain its role as a driving force in offshore reinsurance, accounting for more than 40 per cent of total ceded reserves for US life/annuity writers in 2024, according to a new …

A Bermuda holiday specialist has seen a big uptick in travel to the island as some Americans seek a quick escape from political tension.
“Many Americans are very unsettled and don’t want to get involv…

The Bermuda Press (Holdings) Ltd has reported a half year loss of $238,000, compared to a loss of $568,000 for the same period last year.
The parent company to The Royal Gazette expressed optimism for…

Bermuda Stock Exchange listed Hawley Group Limited has declared net income of $3.15 million for the fiscal year to December 31, more than double than that of the 2023 year of $1,499,000.
Incorporated …

Reinsurers can expect largely neutral language from a recent London court ruling in favour of aircraft lessors, according to a new report from Fitch Ratings.
The ruling allowed for recoveries under th…

US pharmaceutical companies will be forced to answer questions this week from lawmakers, who have been grilling them on their history of using Bermuda for tax purposes.
Questions will also arise on ho…

Late last week, US lawmakers took the axe to the controversial Section 899 of the ruling Republican government’s sweeping tax bill.
The widely dubbed “revenge tax“ would have levied up to a 20 per cen…

Ariel Re, the Bermudian‑based reinsurer, has issued its fifth Titania Re Ltd Series 2025‑1 catastrophe bond, this time with wildfire coverage for US and District of Columbia risks included for the fi…

The UK Government has announced it will overhaul its anti-money laundering regulations for professional and business services firms by the end of 2025, aiming to make the rules clearer and more propor…

A government official with the British Virgin Islands concedes it could take two years to escape the anti-money laundering grey list of jurisdictions “under increased monitoring”, after being placed t…