Royal Gazette

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a+” (Excellent) of Bermudian-based Stellar Insurance Ltd, an indirect wholly owned subsid…

HashKey Group, the Asian-headquartered end-to-end digital asset financial services group with an operation in Bermuda, has announced that its European subsidiary has obtained virtual asset service pro…

Core Specialty Insurance Holdings Inc has announced that the company and its subsidiaries have entered into a series of transactions with certain subsidiaries of Argo Group International Holdings Inc….

Chicago-headquartered Ryan Specialty, the international specialty insurance firm, has signed a definitive agreement to acquire Velocity Risk Underwriters LLC from funds managed by Oaktree Capital Mana…

Bermudian-headquartered Hiscox, the global specialist insurer, has appointed Shali Vasudeva as its new group chief operations and technology officer, subject to regulatory approval.
Hiscox said she jo…

John Neal is to leave his chief executive position at Lloyd’s to join Aon, the global professional services firm, as global chairman of climate solutions and global CEO of reinsurance.
Aon said the ap…

Emotional intelligence expert Sylvia Baffour is to deliver the keynote address at the third annual Women’s Day Gala presented by the Women in Reinsurance organisation.
The event will be held on March …

Global risk consultant Aon has urged a deeper dive into what they see as a growing problem that can be addressed only by extending the reach of insurance and reinforcing the industry’s stature.
The co…

Christa Schwimmer has been appointed as chief executive for Munich Re’s specialty reinsurance and Lloyd’s and Bermuda business.
Ms Schwimmer has spent 23 years at Munich Re, most recently as senior ex…

Roger Todd has succeeded Jon Burull as president and chief executive of Watlington Waterworks Ltd.
Mr Burull retired at the 2024 year-end after 35 years with the company, which paid tribute to his “se…

Arch Insurance International has promoted Tim Watson to the post of credit underwriting manager.
In this role, Mr Watson is responsible for managing all credit-related underwriting activities across t…

The Economic Development Department is launching a free fintech Webinar Series 2025 – a monthly series designed to educate, engage, and inspire fintech professionals and enthusiasts.
The Government o…

Industry veteran Robert Malone has joined Bermudian-based Axa XL as head of large accounts and portfolio management of its cyber insurance team in the Americas.
Mr Malone, who will be based in New Yor…

Cambridge Beaches Resort & Spa has been featured in the UK and US editions of Condé Nast Traveler as one of the best hotels in the Caribbean.
The Somerset hotel said that the recognition “undersco…

Corporate and entrepreneurial efforts to exploit the enormous power of artificial intelligence in 2025 will be stacked against government and regulatory measures to control it, observers believe.
Ther…

The island’s property and casualty insurance and reinsurance sector has proved to be resilient to potential adverse impacts, the Bermuda Monetary Authority has reported after a stress-testing exercise…

The amalgamation deal between BF&M Ltd and Argus Group that creates a domestic insurance powerhouse is now official.
The transaction, which sees Argus amalgamate with Eleos Health Ltd, a wholly ow…

Vantage Drilling International Ltd, the Bermudian-registered exempted company, has announced a joint venture with TotalEnergies, the French-headquartered multinational energy and petroleum organisatio…

CNO Financial Group Inc, the US-based organisation whose companies include CNO Bermuda Re, has appointed Joel Koehneman as chief accounting officer.
Mr Koehneman, whose appointment is effective Januar…

A 16-year-old Somersfield Academy student plans to use the $25,000 he won in a business pitch competition to solve one of his biggest challenges – no payment gateway.
Nico Bean won the youth category…

The growth of asset-intensive insurance business calls for a more tailored and agile supervisory and regulatory approach, the Bermuda Monetary Authority has said.
The island’s financial services regul…

The $4.5 billion fourth quarter Catastrophe bond and related insurance-linked securities market issuance has taken the outstanding market to a record near $50 billion.
This, from the just-published Ar…

Tomorrow is my birthday, and it’s a big number. Honestly, I’m not quite sure how I feel about it. I’ve been reflecting a lot lately on my life. I’m not one for regrets; I’ve always believed that if th…

Dear Dave,
I’m 38, and after looking and waiting for years, I think I have found a found a rental property scenario I like.
My plan is to take $30,000 out of my retirement funds, and use it as a down …

Palomar Holdings Inc, the parent company of Palomar Specialty Reinsurance Company Bermuda Ltd, has completed the acquisition of New Jersey-headquartered First Indemnity of America Insurance Company.
C…

Grant Thornton Advisors LLC in the United States and Grant Thornton Ireland have closed their previously announced transaction to create a global multidisciplinary platform providing audit, advisory a…

Bermuda’s first two babies of 2025 arrived at King Edward VII Memorial Hospital on New Year’s Day.
The Bermuda Hospitals Board announced that Aaryonn Smith was the first baby born on Wednesday.
He wei…

A new brewery is operational in the Town of St George, offering beer that is milled, boiled, fermented and conditioned on site.
“What sets our beer apart is the freshness,” said Moongate Brewery partn…

The Bermuda Economic Development Corporation supported entrepreneurs to the tune of more than $530,000 in 2024, the organisation has reported.
Reviewing the year, the BEDC said it had “approved 19 mic…

Roger Todd and Allan Rance have been appointed to the board of directors of Watlington Waterworks Ltd.
The appointees replace Jon Burull and John Carey, who have resigned from the board.
All changes w…

The percentage of insurers in Bermuda purchasing little or no external catastrophe reinsurance decreased to zero per cent of respondents in 2023, the Bermuda Monetary Authority reported.
The island’s …

Bermudian-based Avance Gas Holding Ltd has closed the $1.05 billion sale of its 12-strong fleet of very large gas carriers to Singapore-headquartered BW LPG Ltd.
The deal was first announced in August…

Local restaurant managers are reporting solid business for the holiday season, but the threat of continued food inflation looms.
“Rising food costs are keeping me up at night,” said Phil Barnett, pres…

West Hamilton Holdings Ltd lost millions of dollars in income in 2024 owing to the sale of some of its City properties.
For the year ending September 30, the company reported net operating income of $…

SiriusPoint Ltd, the Bermudian-headquartered global specialty insurer and reinsurer, has agreed to repurchase all SiriusPoint common shares and warrants held by CM Bermuda Ltd for an aggregate purchas…

American Overseas Group Ltd, the Bermudian-based holding company, has reported consolidated net income available to common shareholders of $3.4 million for the three months ended September 30.
That co…

The Bermuda Monetary Authority has issued a consultation paper that sets out its proposed regulatory regime for Class IILT insurers and several enhancements to the regulatory regime for Class IIGB ins…

Bermudian-headquartered insurer Kettle has appointed Jeff Chen as chief risk officer.
The AI-enabled insurance and reinsurance provider for commercial property owners in areas affected by catastrophic…

For yet another year, technology, more specifically artificial intelligence, has been transforming creative and analytical decision-making in the workforce, reshaping industries from manufacturing and…

A Bermuda market veteran with an expertise in claims has cofounded Elysian, a new insurance company based in Nashville, Tennessee.
Grace Hanson held claims leadership roles at AIG and Allied World Ass…

Two insurance firms are to combine under a newly formed Bermuda company.
Bermudian-based holding company Maiden Holdings Ltd and US-based Kestrel Group LLC today announced that they have entered into …

A Bermudian-based company has been hit with civil penalties totalling $600,000 for failing to fully comply with financial regulations.
In a statement released today the Bermuda Monetary Authority said…

The Bermuda Captive Network is to present an education summit for the industry next month at the Bermuda Underwater Exploration Institute.
Registration for the afternoon event on January 21 is to open…

There was a strong reinsurer appetite for property catastrophe reinsurance at the January 1 renewals, according to global risk and reinsurance specialist, Guy Carpenter
The Marsh McLennan company said…

A respected, scholarly publication has claimed that a third of the Bermuda population lives in poverty on an island that is a hidden playground for conglomerates, governments and the ultra-wealthy.
Th…

The Government is seeking proposals for the construction of a new seawall in an area at risk for flooding.
Prominent businessman Ed Faries, vice-president, sales and service at Tops Ltd on Mill Creek …

Tether, the stablecoin company, has made a venture capital fund investment into a Bermudian-based technology fund.
Arcanum Capital ISA announced that Tether has made the investment into Arcanum Emergi…

A subsidiary of Bermudian-based Fidelis Insurance Holdings Ltd has successfully closed a new catastrophe bond through the issuance of notes by its Herbie Re Ltd programme.
Fidelis Insurance Bermuda Lt…

Bermudian-based Hiscox Group has appointed Frank Lamantia as chief technology officer in the United States.
Mr Lamantia, who takes on the new role on January 21, will report to Mary Boyd, chief execut…

Olivia Brindle has left Bermuda’s The Fidelis Partnership to join Canopius Group, the global insurer and reinsurer with operations in Bermuda, as head of Sustainability.
Ms Brindle will report to Lind…