Royal Gazette

CatX, the digital insurance and reinsurance marketplace backed by Silicon Valley investors Y Combinator, has launched an artificial intelligence-powered parametric platform on its Bermudian-based regu…

The credit ratings of Bermudian-based Everest Group Ltd and its subsidiaries remain unchanged following the company’s earnings release this week that reported $1.7 billion of net reserve strengthening…

Leaders of four Bermudian-based insurance and reinsurance powerhouses are to discuss how to navigate global risk on the opening panel of the Bermuda Risk Summit next month at the Hamilton Princess and…

Individual consumers and businesses in Bermuda should expect rising prices if US president Donald Trump applies high tariffs on goods arriving at American ports from Canada, Mexico and China, the lead…

With high import costs, rising inflation and the popularity of overseas online shopping, the retail climate in Bermuda can be challenging.
For example, the latest Retail Sales Index figures show that…

The Supreme Court of Bermuda has sanctioned a scheme of arrangement in relation to R&Q Re (Bermuda) Ltd.
A PwC spokesman called the scheme of arrangement innovative and the first of its kind in B…

Axcelus Financial has appointed Kimberly Gibson and Henry Komansky to executive roles in the organisation.
Ms Gibson becomes senior market development manager and consultant for the company’s Bermuda …

Bermudian-based Axis Capital Holdings Ltd has repurchased more than two million of its shares for an aggregate price of nearly $200 million.
In a filing with the US Securities and Exchange Commission,…

The Government is seeking concessionaires to provide goods and services at 11 public parks over the summer season.
The Department of Parks put out a request for proposals for business activity from A…

Markel is to move its access point for public directors and officers and large financial institutions coverage to the company’s Bermuda professional liability platform.
The moves come as the insurance…

While the Personal Information Protection Act provides organisations with a robust framework to segregate and protect personal information, the real challenge lies in turning those requirements into m…

Artificial intelligence is not a futuristic concept. It’s a strategic capability poised to deliver significant return on investment.
Attracting particular attention are two subfields – generative AI a…

Bermudian-based Everest Group Ltd has reported annual net income of $1.4 billion and net operating income of $1.3 billion for the 2024 fiscal year.
Announcing its full-year and fourth-quarter results,…

Hiscox, the Bermudian-headquartered global specialist insurer, has launched a new financial institutions offering.
The company said it significantly enhances the range of cover available to businesses…

Aspida Holdings, the life insurance and annuity company with a subsidiary in Bermuda, has formed a strategic partnership with two entities to support the growth of their respective businesses.
Durham,…

Mangrove Property Insurance Company, the Florida-based start-up led by Bermuda market veteran Stephen Weinstein, has been assigned a financial stability rating of A, Exceptional by Demotech Inc, the f…

Retail sales volume in Bermuda dipped by 0.9 per cent year-over-year in September, according to Retail Sales Index figures released today by the Ministry of Economy and Labour.
That figure was determi…

Inflation eased slightly to 1.8 per cent in September according to the latest Consumer Price Index figures released by the Ministry of Economy and Labour.
However, there were large rises in some key a…

A retired Bermuda Monetary Authority executive is making waves in the tech world by developing software, named Ac28R, which writes software for you.
Gary Thomas, former BMA director of actuary, has pr…

American insurers will continue to seek reinsurance solutions from offshore — and predominantly from Bermuda reinsurers — delegates to an annual insurance gathering have been told.
Concerns were also …

Three veterans of the Bermuda insurance and reinsurance market who have come together to form Radix Insurance Linked Strategies have had an eventful first week of business.
Hanni Ali, formerly of Hami…

A new insurance company has launched in Bermuda providing digital wallet insurance for certain cryptocurrencies.
Blockchain Deposit Insurance Corporation is the international entity of Palm Beach, Flo…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of the rated operating subsidiaries of Bermudian-based James River Grou…

Bermudian-based Brookfield Infrastructure Partners LP has reported net income attributable to the partnership of $391 million for the 2024 fiscal year.
That compares with $432 million in the prior yea…

Recommendations from friends, family, neighbours or even colleagues at work have become a significant influence on many aspects of our lives, including investments. Friends often share their insights …

Dear Dave,
I want to start handling my money better and speed up the process of getting out of debt. Should I lower the amount I’m contributing to my retirement savings so I can pay off my car and hou…

A new consultation relating to the legislation for the Corporate Income Tax is under way for the next three weeks, a government spokeswoman said late today.
David Burt, Premier and Minister of Finance…

A former immigration minister who proved a lightning rod for controversy during the One Bermuda Alliance administration has been announced as an OBA candidate in the General Election.
Michael Fahy is …

At only 21 years old, Bermudian Kairo Morton has a dream job in California, working in artificial intelligence.
The Massachusetts Institute of Technology graduate’s tech background began here at home …

Changes in the C-suite of Lloyd’s are to continue with the appointment of Alexandra Cliff as its chief financial officer.
Ms Cliff, who will start in her new role on May 1, will succeed Burkhard Keese…

Ryan Taylor has joined Appleby’s dispute resolution practice as an associate.
The firm said Mr Taylor has broad experience with commercial disputes and regulatory matters.
Prior to joining Appleby, th…

Arch Insurance International has promoted Michael O’Neill to the post of onshore power and renewables underwriting manager as part of the company’s expansion of its open market renewable energy proper…

The Government aims to introduce cooperative legislation this year, after seven years of planning and research.
The aim is to create a system of cooperatives on the island, with the assistance of the …

The third-party capital vehicle launched last year by Bermudian-based Ariel Re has successfully completed its first fund raise.
The company said Ariel Re Capital Partners platform was launched to give…

The Bermuda Business Development Agency is moving forward in its mission to attract high-value foreign direct investment with the launch of an investment promotion agency model.
The BDA said this tra…

Artificial intelligence development has more potential to impact the way LOM invests money, than does a new president in Washington DC.
That was the word today from James Balfour and Bryan Dooley of l…

Bermudian-based Axis Capital Holdings Ltd has reported net income available to common shareholders of $1.1 billion for the 2024 fiscal year.
Announcing its year-end and fourth quarter results, the com…

The US Federal Open Market Committee will hold the target federal funds rate at 4.25 per cent to 4.5 per cent, the US central bank announced this afternoon.
The widely expected news followed the concl…

Ron-Michel Davis has been appointed immigration manager within the law firm, Conyers, following the retirement of Belinda Wright, who had been in the role for 16 years.
Mr Davis has been with Conyers …

World on Wireless Ltd, the television subscription provider that was wound up in the Supreme Court nearly three years ago, has been dissolved.
Larry Mussenden, now the Chief Justice, was acting as a P…

Bermudian-based Axa XL has appointed Tim Whisler to lead its wholesale business in the Americas.
Reporting to Lucy Pilko, chief executive, Americas, Mr Whisler will be responsible for developing and e…

Two Bermudian-based organisations have teamed up to serve the insurance-linked securities sector.
Jireh Risk Advisers Ltd and Strategic Risk Solutions said that as part of their strategic partnership,…

Existing and aspiring entrepreneurs have been encouraged to attend the third annual Small Business Expo presented next month by the Bermuda Economic Development Corporation.
The free event will be hel…

More than 150 industry professionals attended the Bermuda Captive Network’s annual Captive Education Summit at the Bermuda Underwater Exploration Institute.
The BCN said one key focus was the implicat…

A local graphic design and web development firm has launched an AI-powered chatbot service for Bermuda.
SJD World founder and creative director Stephan Johnstone said there are firms using chatbots on…

Chubb, the reinsurer with operations in Bermuda, today reported a record $9.27 billion in net income, up 2.7 per cent.
Its core operating income stood at $9.2 billion, or a record $11.08 billion and $…

RenaissanceRe has reported net income available to common shareholders of $1.8 billion for the 2024 fiscal year, despite recording a fourth quarter net loss.
The company reported $2.2 billion of opera…

Latifah Smith is now the senior account manager at mobile phone company Paradise Mobile.
The Reid Street firm said Ms Smith’s promotion is part of Paradise’s ongoing commitment to fostering Bermudian …

Bermudian-based Everest Group Ltd expects to report full-year 2024 net income in the range of $1.3 billion to $1.4 billion, the company revealed as it announced preliminary commentary on its full-year…

Pier Six will be the central location for the opening of a high-powered gathering of leaders in the next generation of high tech.
The island is to host a new conference focused on blockchain adoption …