Royal Gazette

Catastrophe risk modeller Karen Clark & Company has reported an estimate for the insured property losses from the devastating Lahaina, Maui, fires at $3.2 billion.
KCC made the estimate using the …

Bermuda-registered International General Insurance Holdings Ltd has reported net income for the quarter ended June 30 increased 84.1 per cent to $40.5 million from $22 million for the second quarter o…

Catastrophe risk modellers, Karen Clark & Company, have reported an estimate for the insured property losses from the devastating Lahaina, Maui fires at around $3.2 billion.
KCC made the estimate …

The RG/BSX Index closed on Tuesday down 9.42 points (0.42 per cent) at 2,217.24.
Some 200 shares in Watlington Waterworks Ltd changed hands. The stock closed at $20, down $8 (28.6 per cent).
Overseas,…

Apex Group Ltd, the Bermudian-based global financial services provider, has appointed Frederick Shaw as country head, United States.
The company said Mr Shaw has two decades of experience in the finan…

Three panel discussions will feature at next month’s Bermuda International Life & Annuity Conference presented by the Bermuda International Long Term Insurers and Reinsurers.
The conference will b…

Seadrill Limited, the Bermudian-based offshore drilling company, has reported net income of $94 million in the second quarter of the year and operating profit of $109 million.
The company said the res…

Nicholas Kessel has won the 2023 EY Gil Tucker Bermuda Scholarship.
The award is valued at up to $30,000 per year until the recipient has completed the minimum educational requirements to pursue their…

When Doyle Butterfield launched Bright Bins, a trash can cleaning service, a month ago, one of his first clients was an upscale housing complex.
Everything looked well maintained and clean until he op…

Vesttoo Ltd, the scandal-plagued Israeli insurtech that has scrambled to stay ahead of a stormy summer, has now collapsed into Chapter 11, still vowing to stay alive.
The latest development comes less…

Vesttoo Ltd, the scandal-plagued Israeli insurtech that has scrambled to stay ahead of a stormy summer, has now collapsed into Chapter 11, still vowing to stay alive.
The latest development comes less…

Bunge Limited, the American agribusiness and food company, is to hold an extraordinary general meeting of its shareholders on October 5 to consider a proposal to approve the redomestication of the com…

The RG/BSX Index closed on Monday unchanged at 2,226.67.
Some 1,100 shares in Bank of NT Butterfield & Son changed hands. The stock closed unchanged at $30.
The board of directors of LOM Financial…

The fifth annual Bermuda Tech Summit, presented by the Bermuda Business Development Agency, will have the theme “Building a Foundation for the Future”.
The event will be held October 8-10 at Hamilton …

Registration is open for “Entrepreneurship 101”, a multi-week education course hosted by the Bermuda Economic Development Corporation.
The BEDC said the course provides new and aspiring entrepreneurs …

Conyers has presented four Bermudian students with a total of $60,000 in legal education awards.
Ava Gibson was presented with the Conyers Legal Scholarship, which is valued at $30,000.
Ms Gibson will…

Bermudian-based SFL Corporation Ltd, one of the world’s largest ship-owning companies, has signed a $100 million drilling contract in Canada with a subsidiary of Equinor ASA for the harsh environment …

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has announced that its wholly-owned subsidiary, Essent Guaranty Inc, has obtained $281.5 million of fully collateralised excess of loss rein…

Hamilton Insurance Group Ltd, the Bermudian-headquartered global specialty re/insurer, has appointed Everard Barclay Simmons to the company’s board of directors.
Hamilton board chairman David Brown sa…

A cheeky video on YouTube, available to the near 17 million subscriber base of the news product Vice, profanely paints Bermuda as “a tax black hole”.
Titled Exposing How Apple and Nike Made Billions i…

Bermuda’s banks recorded growth in their combined net income as the sector’s net after-tax income amounted to $154.2 million in the first quarter of 2023.
That was up by $18.2 million from the prior q…

New government figures show the Bermuda current account recording a surplus on trade with non-residents of $309 million in the first quarter of 2023, representing a $45 million decrease year-over-year…

These are healthcare facts in Bermuda. According to the the Government’s Bermuda Health Strategy 2022-2027, in a total population of 63,634 of Bermuda islanders:
• 8,274 (13 per cent) of residents a…

Dear Dave,
Is there any flexibility in your rule about not spending more than 25 per cent of your take-home pay on rent or monthly mortgage payments? I live downtown in Washington, DC, and I’m finding…

The RG/BSX Index closed on Friday unchanged at 2,226.67.
Some 2,400 shares in Argus Group Holdings Ltd changed hands. The stock closed unchanged at $6.
For the week, the Index closed down 113.64 point…

Five entrepreneurs have graduated from the Bermuda Economic Development Corporation’s Enterprise Bermuda Acclerator programme.
The graduates of the EBA’s eighth cohort are John Lee, general manager of…

Twenty-two Bermudian students received scholarships worth a total of $630,000 at the annual Association of Bermuda International Companies Education Awards luncheon.
Funded by donations from Abic memb…

The Bermuda Monetary Authority confirmed the registration of four insurers in July.
The BMA has registered 37 insurers and four intermediaries to date this year.
The BMA registered Mackinlay Insurance…

The Construction Association of Bermuda recently awarded $16,000 in scholarships to Bermudians, to help them continue their education in construction related fields.
The funds were raised at the asso…

Crude oil tanker company DHT Holdings, Inc. has declared a second quarter profit of $57.1 million (Q2 2022: $10 million) on shipping revenues of $152 million Q2 2022: $99.2 million).
Quarterly highlig…

Vesttoo, the insurance risk transfer platform just forced to layoff most of its staff, say investigators have identified the external factors which led directly to their current crisis, including the …

Cayman residents have been conned out of millions of dollars through a “pig butchering” scam, as crypto criminals target the Caribbean Island.
Authorities are warning the schemes are so sophisticated,…

Analysts see Bermuda’s proposed corporate income tax as “a modest but manageable negative” for insurers and reinsurers domiciled on the island, according to reporting from Business Insurance.

The Gov…

The latest financial figures for Hiscox show a sharp elevation in pretax profit on rising premium rates during the first half of the year, rising to $265.8 million compared to $25.4 million during th…

SiriusPoint Ltd, the Bermudian-headquartered global specialty re/insurer, has entered into a standstill agreement with the company’s billionaire board member Daniel Loeb.
The entry by the parties into…

The RG/BSX Index closed on Thursday at 2,226.67, down 113.64 points (4.86 per cent).
Some 3,000 shares in BF&M Ltd changed hands. The stock closed at $22.25, down 70 cents (3.1 per cent).
Some 2,8…

Brookfield Reinsurance, soon to be the owner of Argo Group, has reported a staggering increase in second quarter net income year-on-year.
The company recorded net income of $360 million for the three …

Bermudian-based re/insurer Lancashire Holdings Limited is to expand its international footprint by setting up an operation in the United States.
The news comes as Lancashire reports a first-half profi…

A new set of custom office suites has opened in Hamilton.
The “Suites at Russell Eve” have been launched by Jardine Gibbons Properties Ltd.
Located on the corner of Church Street and Washington Street…

Energy industry veteran Christopher Huskilson has been appointed interim chief executive officer of Canada’s Algonquin Power & Utilities Corp.
He succeeds Arun Banskota, who has stepped down as pr…

The Bermuda Red Cross is offering a psychosocial first aid training course for individuals and organisations to help in the establishment of community teams capable of providing assistance after traum…

Bacardi, the Bermudian-based drinks giant, is capitalising on demand in Russia, as other Western businesses are moving away.
Since the invasion of Ukraine in February last year, companies have been fl…

Severe thunderstorms accounted for up to 70 per cent of all insured natural catastrophe losses in the first half of 2023, according to a new report from the Swiss Re Institute.
The report revealed tha…

The RG/BSX Index was quiet on Wednesday with no trading on the Bermuda Stock Exchange.
Meanwhile the Bank of N T Butterfield was up seven cents (0.23 per cent) on the New York Stock Exchange finishing…

Auto Solutions, the Pembroke vehicle dealership, has launched a certified pre-owned department.
The new initiative allows customers to trade-in or sell their pre-owned car, eight years and younger, to…

KPMG is a co-title sponsor of the seventh Caribbean Infrastructure Forum 2023, which will be held in Miami next month.
As we move out of the pandemic, KPMG said, the Caribbean is experiencing a new ur…

Aspiring Bermudian lawyer Kaliyah Lee-Tucker has been awarded the Carey Olsen Investing in People scholarship for 2023.
The firm said it has provided scholarships for the past three years to exception…

Peter Spires has stepped down as general counsel of Lloyd’s to pursue fresh challenges in the Lloyd’s market, the organisation has announced.
Mr Spires joined Lloyd’s in 1995 and spent the early part …

White Mountains Insurance Group Ltd, the Bermudian-domiciled financial services holding company, has reported comprehensive income attributable to common shareholders of $21 million and $201 million i…

A new interim chief executive officer, Ami Barlev, has been installed at scandal-plagued Vesttoo, the insurance risk transfer platform, facing market and regulatory pressure after alleged irregulariti…