Royal Gazette

I recently had dinner with a friend who shared her financial struggles with me. At first, it seemed surprising – she has a well-paying job, and her spouse is equally successful in their career. But a…

Dear Dave,
Do you have any advice for sticking with your goals and new year’s resolutions? I always have great things in mind to shoot for in December, but then they always seem to fall by the wayside…

The Bermuda Monetary Authority proposes to publicly disclose the assets and liabilities of the island’s long-term commercial insurers registered in Classes C, D and E.
The financial services regulator…

Business owner Claire Smith had a problem with rum cakes on the island – not enough rum.
On December 3 she launched her own line of the alcohol-soaked confections at her store, the Bermuda Triangle Sh…

Healthcare stocks have significantly lagged the broader market over the past year, leading some investors to question their future. Despite strong tailwinds from an ageing population in developed econ…

Enstar Group Ltd, the Bermudian-based insurer, has completed the previously announced transaction between Cavello Bay Reinsurance Ltd, its wholly owned subsidiary, and certain subsidiaries of island-h…

The common shares of Altamira Therapeutics Ltd, the Bermudian-headquartered biotechnology company, have been de-listed from Nasdaq for failure to comply with the exchange’s rule that listed securities…

Bermudian-based Axa XL has appointed Jon Tellekamp as chief underwriting officer, construction and energy.
In his new role, he will lead Axa XL’s combined construction and energy underwriting and risk…

Acrisure, the global fintech firm with offices on the island, has announced the appointment of Bermuda market veteran Martin Reith.
He will be based in London, working with senior leadership across se…

A Bermudian-based company has played a role in RiverStone International’s multi-faceted deal with Zurich.
RiverStone International has signed an agreement with the French branch of Zurich Insurance Eu…

Shareholders in Argus Group and BF&M Ltd have cleared the way for the amalgamation of the companies into a domestic insurance powerhouse.
Argus shareholders approved the amalgamation deal, first a…

Despite falling stock value, a Warwick Academy team remains in the lead for the second round of the KPMG Senior School Investment Challenge.
Warwick Academy’s The Moral Hazards team stock decreased by…

Shareholders in Argus Group and BF&M Ltd have cleared the way for the amalgamation of the companies into a domestic insurance powerhouse.
Argus shareholders approved the amalgamation deal, first a…

Hamilton Princess and Beach Club has been included on the 2024 Top 25 Historic Hotels Worldwide Holiday Traditions and Spectacular Display listing.
HHW, which represents more than 350 hotels in nearly…

After eight years of percolation, the Personal Information Protection Act 2016 comes into effect on January 1, carrying fines of up to $250,000 for violators.
The Privacy Commission says stay calm.
“I…

While cassava pie and turkey with all the trimmings make for an appetising Christmas dinner table, what’s under the tree can sometimes make a more lasting impression.
This festive season, say Bermuda’…

‘Twas the market before Christmas,
And let us not ignore,
The major events of 2024.

The economy was stirring and continued to grow,
And unemployment thankfully remained quite low.
The Fed cut rates f…

I don’t know how you grew up, but when I was young, we did not get a lot of Christmas presents. Perhaps this was because my parents did not have oodles of money; perhaps it was because they had four c…

Dear Dave,
I have a question about money and marriage. My wife and I have been married for two years, and we both have good jobs. Together, we bring home around $190,000 combined. We also have $100,00…

The RG/BSX Index closed today up 0.55 points (0.02 per cent) at 2,514.56.
One hundred shares in Bermuda Aviation Services Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $1.75, up…

AM Best has upgraded the financial strength rating to A+ (Superior) from A (Excellent) and the long-term issuer credit rating to “aa-” (Superior) from “a” (Excellent) of Bermudian-based Legal & Ge…

The Lloyd’s Market Association has appointed Joe Brace as operations director, effective in the spring of 2025.
He will report to Sheila Cameron, chief executive of the LMA.
All 55 Lloyd’s managing ag…

The shareholders of Catco Reinsurance Opportunities Fund Ltd approved the voluntary winding up of the company at a special general meeting held on Wednesday.
In a filing with the Bermuda Stock Exchang…

The president of the Bermuda Chamber of Commerce is urging local shoppers to remember stores in the East and West while making holiday purchases.
“It is extremely important for Bermudians to shop loc…

The Government must prioritise a budget that drives growth for local businesses, the president of the Chamber of Commerce said.
Marico Thomas was commenting after the Premier delivered a pre-Budget re…

Staff from reinsurance firm RenaissanceRe volunteered to help plant more than 50 native and endemic species at the largest micro forest site to date on the Bermuda College campus.
A post on the Bermu…

A Bermudian-based fully regulated digital marketplace for insurance risk has adopted new modelling to enhance its analytics capabilities.

CatX Limited has teamed up with Extreme Event Solutions gr…

A free foundational insurance course will launch next month with a round table discussion on the impact of international business in Bermuda.
The Association of Bermuda Insurers and Reinsurers recentl…

Employees of BermudAir have completed specialised autism awareness and sensitivity training, the airline has announced.
BermudAir has been certified by Autism Double-Checked, a Connecticut-headquarter…

The Bermuda International Long-Term Insurers and Reinsurers organisation has joined the 2025 Bermuda Risk Summit as a platinum sponsor.
The group joins title sponsors, the Association of Bermuda Insur…

Darag Group, the legacy acquirer with a focus on the European market, has completed the sale of its North American and Bermuda business entities to the RiverStone Group.
Completion of the deal, first …

A near $100 million Warwick hotel project is coming to completion, without incurring a mountain of debt.
Azura Hotel developer John Bush told The Royal Gazette the opening of their Surf Restaurant on …

Two Bermudians have taken a step up the underwriting ladder, thanks to a Markel training programme.
Andrew Haye and Jordan Outerbridge have been promoted to associate underwriters at the insurer, afte…

Wafra Inc, the New York-based global alternative asset manager with an office in Bermuda, has completed the acquisition of the Aquila Air Capital platform from Warburg Pincus, the global private equit…

The Ardonagh Group, the global insurance broker with operations in Bermuda, has announced an equity investment from funds managed by US-based private equity firm Stone Point Capital LLC that values it…

Seadrill Ltd, the Bermudian-based offshore drilling company, has added nearly $1 billion to its order backlog after agreeing two contracts with Petrobas, the state-owned Brazilian multinational.
The c…

The Bermuda Monetary Authority confirmed the registration of seven new insurers in November, taking the yearly total to 50.
The island’s financial services regulator has also registered ten intermedia…

Bermudian-based Maiden Holdings Ltd has agreed to sell its Swedish subsidiaries, Maiden General and Maiden Life.
Maiden said the buyers were “an expanding group of international insurance and reinsura…

AM Best has affirmed the credit ratings of Bermudian-based Transmonde Services Insurance Company Ltd, the Class 3 insurer licensed and regulated by the Bermuda Monetary Authority.
The agency affirmed …

Arch Insurance has appointed a senior casualty underwriter to bolster its operation in France.
Rachida Laazaouzi joins Arch Insurance (EU) dac, which provides specialist property and casualty insuranc…

Everest Re has appointed Craig Hanrahan to lead its North America insurance field operations.
Mr Hanrahan will oversee the firm’s four American retail regions, and will report to Bill Hazelton, execut…

A supermarket boss has questioned whether a government-backed grocery co-op would realistically be able to reduce prices on the shelves.
Last week, the public works minister Lieutenant-Colonel David B…

A local alternative energy company is urging Bermudians to invest in solar panels now before American tariffs force the price up.
Last month, the US announced a range of duty of between 21.31 per cen…

Bermuda ranks as the third-quickest jurisdiction in the world for entity management, a new report reveals.
Only Gibraltar and Luxembourg rank ahead of the island.
The ranking is included in an annual …

Ratings agency AM Best has revised the outlook to positive from stable and affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermud…

Two Bermudian-headquartered companies have entered into a $2.3 billion loss portfolio transfer reinsurance agreement, which one party said was the largest such agreement announced in the insurance and…

The Supreme Court of Bermuda has granted an order winding up Afiniti Ltd, the island-domiciled artificial intelligence firm.
A petition for the winding up of the company was presented to the court by …

Police have identified Khiry Furbert, a father and former Cup Match cricketer, as the victim of a fatal shooting that took place in the early-morning hours of Sunday.
Mr Furbert, 34, who leaves behind…

A cohesive strategy to attract investment is needed to complement systems designed to draw in climate funding, according to a KPMG official who attended COP29.
Charlotte Reboul, a manager for governme…

A British-based cybersecurity firm, helping small to medium-sized business protect their data, is set to expand its operations into Bermuda.

Cyber Tec Security, which also operates from Jersey, is…