Royal Gazette

Axa XL’s Bermuda professional lines business has launched a new wage and hour policy to help mid-sized employers in the United States manage rapidly escalating risks.
The Bermudiana policy, named afte…

Four months after designs for an office development were rejected because the Development Applications Board said the structure was too tall, the project is going ahead as planned.
The 130,000 sq ft, …

The dramatic rise in the use of artificial intelligence in the legal sector raises issues around legal professional privilege, the concept under English law ― and adopted under Bermuda law ― that prot…

The Bermuda Monetary Authority has released its business plan for 2025, outlining its commitments to enhancing the island’s regulatory framework in the coming year.
The organisation said the plan emph…

The Caribbean Community and Common Market’s controversial initiative to allow workers freedom of access to jobs among fellow member countries, has led to a deeper think and a new, collaborative consul…

Juniper Re LLC, the specialist reinsurance broker with operations in Bermuda, has entered the London market with industry veteran Nick Hawke at the helm.
Mr Hawke, named head of office, has more than …

Arch Insurance International has announced three senior promotions in its casualty division.
Arch is part of Bermudian-based Arch Capital Group and includes Arch Insurance UK and the P&C insurance…

The Bermuda Monetary Authority has issued a consultation paper designed to gather feedback on the organisation’s proposed operational resilience standards for financial institutions.
The island’s fina…

The owner of Belco, Algonquin Power & Utilities Corporation, has completed the sale of its non-regulated renewable energy business – excluding the company’s hydro fleet – to a wholly-owned subsidi…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Qatar Insurance Company and its Bermudian-based subsidiary, Antares …

Sixty per cent of employees are planning to move jobs this year, a new Aon study suggests.
According to the global professional services firm, many people are considering a “hustle reset”, with three …

The Bermuda Monetary Authority has granted a Class IIGB licence to Bermudian-based Soter Insurance Ltd.
The grantee is an operating company of Soter Insure, a pioneering insurance provider tailored fo…

Bermudian-headquartered Bacardi Limited has promised $100,000 to the American Red Cross to help people impacted by the recent California wildfires, following massive destruction in the area.
In addit…

Clarien Bank Ltd has promoted Rebecca Oriel Khanna to the role of senior vice-president, head of internal audit.
“Rebecca’s promotion is a testament to her exceptional leadership abilities and her pro…

Alexander Baugh has been appointed as an independent nominated member of Lloyd’s Council, the organisation has announced.
He will be chairman of Lloyd’s risk committee and a member of Lloyd’s audit co…

Cyber criminals will be the primary beneficiaries of advances in artificial intelligence in the year ahead, a prominent cyber risk analytics firm has predicted.
CyberCube, whose investors include HSCM…

Despite the recent lower renewal pricing, reinsurers will continue making good money, the credit rating agency, Fitch, has determined.
One of the three main nationally recognised statistical rating or…

Tucker’s Farm Corporation, the Bermudian-based investment holding vehicle, has acquired Pizza Factory Inc, the American quick-service restaurant franchisor.
The acquisition was completed via the Farm’…

Bermuda has celebrated a milestone in workforce development as 34 Bermudians proudly graduated from the Foundations in Artificial Intelligence training programme at Bermuda College.
This transformati…

Bermuda’s strong economic performance was discussed in the latest meeting of the Financial Policy Council, with the international business sector noted as a key driver.
The organisation’s 27th meeting…

AM Best has appointed Kenneth J. Johnson as senior managing director and chief ratings officer, responsible for the agency’s global ratings coverage.
Mr Johnson will be based at AM Best’s global headq…

HashKey Group, the Asian-headquartered end-to-end digital asset financial services group with an operation in Bermuda, has received in-principle approval for a virtual asset service provider licence i…

Enstar Group Ltd, the Bermudian-based insurer, has announced that its Lloyd’s Syndicate 2008, managed by Enstar Managing Agency Ltd, has agreed a ground-up loss portfolio transfer with Atrium Syndicat…

Starr, the insurance and investment organisation with operations in Bermuda, has appointed Peter Hirs as the company’s chief financial officer.
He succeeds Howard I. Smith, who is retiring after more …

Ten young people were inducted into Belco’s apprenticeship training programme today, after completing a rigorous assessment looking at everything from technical ability to speaking skills.
The new app…

The Bermuda Stock Exchange has been cited for its 2023 record $60 billion market in insurance-linked securities, before slipping off the pace last year.
But ILS Market authority Artemis also acknowled…

Economic benefits are far from the only advantages gained by governments that implement a digital public infrastructure, a major international body has reported.
The Organisation for Economic Co-opera…

AM Best has affirmed the financial strength rating of A+ (Superior) and the long-term issuer credit ratings of “aa-” (Superior) of Bermudian-based RGA Americas Reinsurance Company Ltd and other subsid…

Arch Insurance (EU) dac, part of Bermudian-based Arch Capital Group, has promoted Duncan Smith to the post of chief executive.
The company said he is responsible for leading the executive management t…

Carey Olsen’s Keith Robinson, global head of the firm’s trusts and private wealth practice, and Jersey-based counsel Sarah Farrow have been named in eprivateclient’s 50 Most Influential list for 2025….

Appleby has appointed Claire van Overdijk KC as a partner in the firm’s dispute resolution practice in Bermuda.
The firm said: “Claire has extensive experience in contentious and non-contentious trust…

Kimonea Bascome has been promoted to senior associate in the property and estates planning team at Marshall Diel & Myers Ltd.
The firm said: “With a distinguished track record in residential and c…

Digitisation is among the four priorities of the Lloyd’s Market Association in 2025, the organisation has reported.
All 55 Lloyd’s managing agencies, and all Lloyd’s members’ agents, are members of th…

The Government is to harness the power of artificial intelligence to improve government services.
A request for proposals has invited prospective proponents to submit proposals for “Partnering with th…

A vision to drag Bermuda’s courts system into the 21st century may be finally taking a step in the right direction.
The Government is seeking proposals to fully bring Bermuda’s courts management onlin…

The Annual Forecast Dinner of the CFA Society Bermuda will focus on “The Trump Effect. What does the US election mean for markets in 2025?”
The dinner, scheduled for January 21 at the Hamilton Princes…

A US-based life insurance and annuity company with a subsidiary in Bermuda has been given a massive capital injection.
Ares Management Corporation, a Los Angeles-based global alternative investment ma…

Bermudian-based White Mountains Insurance Group Ltd has announced that Ark Insurance Holdings Ltd, its specialty property and casualty reinsurance and insurance subsidiary, has renewed Outrigger Re Lt…

AM Best has placed the credit ratings of an Arizona-based insurance company under review with developing implications following its agreement with a recently established Bermudian-based reinsurer.
The…

The UK Government has frozen the assets of a right-wing extremist political group, and warned entities, including in Bermuda and other territories against any business ties.
No person or entity requir…

American International Group Inc, the insurance powerhouse with operations in Bermuda, has appointed Christopher Flatt as global chief underwriting officer.
Mr Flatt will report directly to Peter Zaff…

The Progressive Labour Party’s decision to hold a General Election on February 18 will disenfranchise young people and is a choice that prioritises perceived political advantage over democracy and civ…

I’m sure most of us can relate – there are often one or two people in our family, or close circle of friends, who are not particularly savvy when it comes to managing their finances.
Often, these peo…

Dear Dave,
I have a question about how to balance my financial obligations. I can’t afford my student loan payments.
Is the best approach to send them what I can afford, even if it’s not the minimum p…

A $15 million renovation of the Bermudiana wing at the Hamilton Princess & Beach Club is expected to be completed in early spring.
The project began on November 18 to upgrade all 113 rooms in this…

Bermudian-based Aspen Insurance Holdings Ltd has announced that Michelle Dudek has been named Aspen Insurance head of US environmental.
She is responsible for overseeing Aspen’s suite of environmental…

The RG/BSX Index closed today unchanged at 2,473.52 after no trading on the Bermuda Stock Exchange.
Overseas, the New York Stock Exchange was closed for the National Day of Mourning for President Jimm…

Mosaic Insurance, the Bermudian-based global specialty insurer, has appointed executives Karen Reilly and David Barr to lead its respective US and international business growth in the environmental li…

Jim Williamson has been named acting chief executive of Bermudian-based Everest Group Ltd following the resignation of president and CEO Juan C Andrade.
Mr Andrade, who had served in those dual roles …

Ascot has appointed Bruce Sikorski to the position of group head of corporate services.
Mr Sikorski will report to Bill Thygeson, group chief human resources officer.
In this newly created role, he wi…