Royal Gazette

Bermudian-headquartered Hiscox Ltd, the global specialist insurer, has appointed Lynne Biggar and June Yee Felix as independent non-executive directors, subject to regulatory approval.
Hiscox said Ms …

Bermudian-based Oceanview Reinsurance Ltd has appointed Muhamed Majeed as chief actuary.
The company said he will oversee Oceanview Re’s actuarial functions, including product development, pricing str…

Bermuda insurers and reinsurers will be impacted by California wildfires in a meaningful way, a ratings agency has determined.
Fitch Ratings said the companies they follow on the island can expect det…

The total value of commercial properties for sale on the island will double in the first half of 2025, a prominent real estate broker has predicted.
Brian Madeiros, president and chief executive of Co…

Bermuda market veteran Stephen Weinstein is behind a new entrant into the Florida property insurance market.
Mr Weinstein, formerly of RenaissanceRe and now chairman of the board at Bermudian-based It…

Claire van Overdijk KC, a partner in the Bermuda office of law firm Appleby, is to join a panel discussion at next month’s Trust and Estates Litigation Forum in Morocco.
The firm said she will join ot…

Envelop Risk, the data-driven cyber reinsurance and analytics specialist with an office in Bermuda, has promoted Graeme Bell to group chief operating officer and Simon Welton to the role of executive …

Concerns about the company’s balance sheet strength and enterprise risk management have prompted AM Best to downgrade the credit ratings of Bermudian-based Berking Re Ltd and place the new ratings und…

Marsh McLennan’s support of Hamilton Seventh Day Adventist Church’s feeding programme will continue, a Marsh statement has said.
Staff have been volunteering time and resources since 2020, helping to …

For Donna DeSilva, the hardest thing about running an Earth-friendly retail store is convincing people that they need her products.
She set up Gotta Go Green in Sandys a few months ago, selling organi…

The Bermuda banking sector’s net profit after tax amounted to $138.7 million in the third quarter of 2024, an increase of 6.1 per cent, or $8 million, compared with the previous quarter, a report by t…

A Bermudian-based specialty insurance carrier that supports emerging and innovative industries has launched a new product to address the growing risk of crypto exchange defaults.
Relm Insurance said F…

Prudential Financial Inc has agreed to reinsure a portion of its recently originated Japanese whole life policies with a subsidiary of Bermudian-based Prismic Life, the life and annuity reinsurance co…

Ascot, the Bermudian-based insurer and reinsurer, has made two leadership appointments to support the group’s US marine business.
Jon Mosby has been appointed deputy chief underwriting officer, US mar…

Former PartnerRe president and chief executive Emmanuel Clarke is to take up the post of chief executive, global specialty lines, at Canada’s Intact Financial Corporation.
He will succeed Michael Mill…

Over the past decade, the emergence and rise of cryptocurrencies have marked one of the most significant developments and shifts within the financial sector. Bitcoin, ethereum and countless altcoins h…

Bermudian Shakeem Albouy has relocated from Axa XL in Bermuda to work as a cyber underwriter in the company’s Singapore office.
The company said Mr Albouy, 30, has seized opportunities afforded to him…

Clarien Bank has promoted Jennifer Wild to the position of executive vice-president, chief administrative officer.
In her elevated position, the bank said Mrs Wild — who joined Clarien in 2011— will c…

Butterfield Bank customers can now start saving from the cradle thanks to a revamped Young Savers Account programme.
Previously available for children ages 10 to 17, this instant-access savings accoun…

Everest Group Ltd has made Jim Williamson’s position at the helm of the company permanent.
Mr Williamson, acting chief executive since the resignation of Juan C Andrade two weeks ago, has been appoint…

A Bermudian-based company focused on creating an online and offline immersive, fantasy-based royalty-themed game has released a playable demo version.
The RoyaLand Company Ltd said this “vertical slic…

A course designed to prep locals for fintech success, has been launched by Government’s Economic Development Department.
The Ministry of Economy and Labour said the new month-long Finance to Fintech c…

The Fidelis Partnership, the Bermudian-based managing general underwriter, has written a private placement on the global marine liabilities reinsurance placement on the International Group of P&I …

Devon Simons and Ryan Simmons will be the new operators of the restaurant at Woody’s Sports Bar and Restaurant when renovations are finished there in the spring.
“They are former partners of Country …

Bittrex Global owners and former executives are suing the Bermuda Monetary Authority in the Supreme Court, seeking a review of the regulator’s decision to take enforcement action against the exchange …

The Government’s hopes of hundreds of millions in annual corporate income tax revenue seemed less assured last night after a Day 1 executive order by the new US President threatened the existence of a…

The threat to the Organisation for Economic Co-operation and Development’s corporate tax initiative comes, in part, from a new measure introduced by the US House of Representatives – the Defending Ame…

Devonshire Industries Ltd, the parent company of Bermuda Paint Company Ltd, has reported a significant rise in net income year-on-year at the midpoint of fiscal year 2025.
Only days after presenting i…

Axcelus Financial has appointed Bermuda market veteran Keith Stock as chief executive of four of its companies on the island.
Mr Stock is to lead Class C insurance companies Axcelus Financial Life Ltd…

AM Best has affirmed the credit ratings of the subsidiaries of Swiss-based Starr International Company Inc, which include Bermudian-based Starr Insurance & Reinsurance Ltd and its members.
The rat…

Bermudian-based Arch Capital Group Ltd has promoted Prashant Nema to the post of executive vice-president and deputy chief operations officer.
Mr Nema has been EVP and chief information officer since …

Ascot, the Bermudian-based insurer and reinsurer, has appointed Eric Herman to the position of group head of underwriting performance management.
Mr Herman joins from Everest, where he spent nearly a …

Woody’s Sports Bar & Restaurant in Sandys is actively preparing to open another restaurant, the Bermuda Land Management Corporation said today.
Taste the Love @ Woody’s – famed for its fish sandwi…

A Sandys eatery famous for its fish sandwiches is closing next month.
The last day for Taste the Love @ Woody’s in Sandys will be February 8.
Owners Wayne and Annaliese Tucker said they were shutting …

Bermudian-based DHT Holdings Inc, the independent crude oil tanker company operating in the very large crude carrier market, has announced that more than half of the available spot days have been book…

Bermudian-based Vantage Group Holdings Ltd has appointed Chelsea Law as northeast region distribution leader.
The company said Ms Law will serve as a member of Vantage’s insurance distribution team an…

The founder and chief executive of a Bermudian-based blockchain incubator has been appointed to the advisory board of US-based CPAI, the artificial intelligence powered crypto tax reconciliation, prep…

Two people have become chartered directors, and 13 more have begun the journey toward that designation, in courses presented by the Bermuda branch of the Institute of Directors.
IoD chairman Gavin Bis…

Bermudian-based Axa XL is partnering with London GreenCity, Britain’s first accelerator for development-stage climate tech entrepreneurs, to offer expertise in insurance and risk management to the acc…

Greg Mitchell has been appointed chairman of the board of directors at the Cayman International Reinsurance Companies Association.
Mr Mitchell, chief actuary at Aureum Re, succeeds David Self, who wil…

Sangheetaa Phary has joined the Bermuda office of law firm Appleby as counsel in the corporate department.
The firm said Ms Phary specialises in corporate and commercial law with her expertise encompa…

The RG/BSX Index closed today at 2,477.79, down 27.98 points (1.12 per cent).
A total of 1,553 shares in BF&M Ltd changed hands on the Bermuda Stock Exchange. The stock closed unchanged at $18.
So…

Bermuda’s newest supermarket has opened for business in St George.
The English Market, which opened an outlet in Washington Mall in Hamilton in 2021, is now also doing business from a space at the Ess…

Lloyd’s has announced that its London Bridge risk transformation platform reached a capital deployment milestone of $1.92 billion at the end of 2024.
The organisation reported that London Bridge has n…

For years Scott Simons ran a thriving radio advertisement business, Scott Simons, The Voice Networks.
“I did many of the radio advertisements you hear in Bermuda,” he said. “I was doing regular work f…

Fitch Ratings has assigned Bermudian-based Ascot Group Ltd an issuer default rating of ‘A-’ and a senior debt rating of ‘BBB+’.
In addition, Fitch has assigned Ascot’s core operating subsidiaries an i…

Lawyer Joe Williams has joined the finance team in the Bermuda office of Walkers as senior counsel.
A firm spokeswoman said: “Joe joins us as an accomplished practitioner with many years of experience…

An active December saw the Bermuda Monetary Authority confirm the registration of 13 new insurers, taking the yearly total to 63, which is one more than was registered during the prior year.
Twelve in…

I have been on a house-hunting expedition for the past two years, and with about 15 properties viewed to date, one thing I can say for certain is that every place is different. What might have been em…

Steve Weinstein is to be among the featured speakers at the inaugural ClimateTech Connect conference in Washington DC.
The conference, which is dedicated to fostering innovation and collaboration in c…